Contractor Evolution | Does Open Book Management Really Work?
If you’ve ever wondered how an Open Book Management business operates and whether or not this model might work for you. You’re in luck!
Open Book Management, or OBM for short, is a business philosophy and system that communicates the entire financial picture of the business all the way down to the laborer in the field.
The fundamental idea is that every set of hands comes from with a free brain, and people generally play better when your keeping score.
Our guest today is Ryan Markewich, founder of Creative Roots Landscaping in Kelowna, BC, and a certified Great Game of Business Coach. For the last twenty years, he’s run Creative Roots fully “Open Book” and is here today to tell us about it.
I ask him:
- Does OBM really work? Or is this just another hyped-up business framework?
- How much extra work is it to train employees on the financial reports and KPIs in order for them to truly be “in the game”?
- How do they select future partners from their employee pool?
- How do they groom them? And what does it actually mean when an employee purchases a tranche of the company?
Open Book Management isn’t for everyone, but if you’ve ever been curious about it, this is a great jumping-off point.
To learn more about Breakthrough Academy, click here: https://trybta.com/PCEP155
Episodes
Contractor Evolution | The #1 Mistake Contractors Make With Coaching (Costly!)
If you, like MANY contractors out there, are thinking about a business coach… …how do you pick the best one? With so many options out there, it’s WAY too easy to get swindled by a smooth talker with no real track record or, more likely, to pick a perfectly good coaching solution that just isn’t perfect for you. Today, Breakthrough Academy’s own Brendon Toyne joins us for a deep dive into picking the best coaching solution for your business.
Contractor Evolution | Is SEO Dead? Modern Contractor Marketing Tips
90% of contractors take the WRONG approach to Meta ads. 1️⃣Have someone make your creative. 2️⃣Run the ads 3️⃣Hope for the best 🤞 Instead, according to contractor marketing expert Phil Risher, you should make ORGANIC content first, figure out what drives engagement, and then reuse THAT as your ad creative. This simple shift can save you thousands in wasted ad spend.
Contractor Evolution | 3 Ways to Control Profit and STOP Confusing Your Finances
Increasing profitability can seem intimidating, but there’s really only three ways to do it: 💰Increase sales 📈Increase your gross margin 📉Decrease your expenses In today’s episode, Spencer Sheinin breaks financial management down into basic, easy to understand principles so you can stop staring blankly at your books and START making smart decisions with clarity.
Contractor Evolution | Contractors: Stop Solving the WRONG Problems With Mike Andes
The fastest way to lose the trust of your team? Hide things from them. According to Mike Andes, open book management aligns your team around the business goals, whether you’re thriving or barely surviving. Have you ever tried opening your books up to your team?
Contractor Evolution | Do Virtual Quotes REALLY Close More Jobs? (Contractor Sales Tips)
With all the AI sales tools coming out, you may be wondering… …are sales reps being replaced? According to Liveswitch CRO and contractor sales expert James Hatfield: not yet. But, technology will continue to make selling easier for reps and MUCH more convenient for homeowners. If you haven’t started modernizing your sales process to match the modern buyer’s expectations, this is your sign to start.
Contractor Evolution | Why 700K People Are Watching Drywall Videos (Strategy Revealed)
Is making content worth it for contractors?<br/> Ben Degros, The Vancouver Carpenter, built a following of over 700K subscribers by making drywall videos. BUT he had to dedicate a massive amount of time and energy to his channel.<br/> In a world filled with more and more noise, don’t underestimate how much work it is to create an online brand that resonates with your audience. It’s not about going viral; it’s about offering value to your customers before they start working with you.
Contractor Evolution | STOP Losing Money to Poor PM: No-Frills Project Management Tips (Contractor Roundtable)
Which SOPs should you focus on for your project managers? Nailing your sales to production handoff is a great place to start. Getting this workflow right means happier teams, happier clients and higher profits. Check out the full contractor roundtable we co-hosted with Charley Burtwistle from Buildertrend for more project management tips, industry-specific SOPs and systems and questions from contractors just like you.
Contrator Evolution |: Do Free Vacations Close More Deals? John Dwyer’s CRAZY Strategy
Does your brand feel the same as every one of your competitors? You’re not alone. In the trades, it can be hard to truly stand out. To your customer, every company looks about the same. And EVERYONE’S website says they’re the best. So how do you stand out? According to John “JD” Dwyer, the key is being different. Or as he calls it, being the “UN” in your industry. Unconventional, unlike everyone else… maybe even a little weird.
Contractor Evolution | No More Excuses: Stay Consistent When Goals Go Sideways
When things go sideways, your goals are off track and you’re feeling overwhelmed, returning to your why can save the day. Having a clear vision of the big picture prevents you from turning bumps in the road into mountains. Even if you have to slow down or backtrack, you can rest assured you are still heading in the right direction. Shout out to Mandy Gill for sharing her expertise on goal setting, resilience and habit building on the show!
Contractor Evolution | How to Fire an Employee Without the Drama
Episode 92
Whether it's an underperforming crew member or a project manager who can't seem to get along with anyone, it's crucial to know when to let go of employees who are no longer a good fit. Personal values conflicts, performance problem or behavioral issues are completely valid reasons to consider terminating an employee. Understanding when to fire someone is not an easy skill to develop, but it essential to maintaining a positive company culture and overall business success.
Contractor Evolution | Why Most Contractor Marketing Fails (And How To Fix It)
Episode 91
What's the secret to endless 5 star reviews and unprompted referrals? It's not keeping promises. It's giving surprises. To truly delight, you have to create a surprise effect and exceed customer expectations. This leads to enhanced customer satisfaction and improves customer experience all around. This small shift can build brand loyalty and close more deals, all while turning your customers into raving fans.
Contractor Evolution | 4 Essential Business Systems Every Contractor Should Master
Episode 90
Whether you call it back costing, job costing or, as we do, financial management 101, understanding your costs on a job can truly change the game for you and your contracting business. Most contractors think they have a pricing problem, but often it's a matter of cost tracking and measurement* Understanding the financial health of your business is key, and project costs are a crucial component. Get started tracking system implementation to see serious growth.
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