Why January Is Great Time Of the Year for Me and My Contractor Coaching Clients
One of my goals when working with my contractor coaching clients is to offer them new ways of looking at and doing things than they may have already experienced in the past. At this time of the year we debrief how well they did last year putting changes in place. Our interactions typical include review, celebration, planning and commitments. Using this process proves to be very rewarding for them, and for me as well.
My coaching strategy is to help them explore the options they have to improve and grow their businesses so they can make their own informed decisions about how they want to move forward. I really enjoy working with them in this way because it helps them discover and experience how to think and act on their own. I purposely do it this way so as not to create a dependency on my assistance and so they won’t need me to help them over and over again with the same things year after year.
My calls and interactions with them during this time of the year focus on reviewing the successes of the past year’s efforts. They also include identifying the goals and actions they will commit to in the New Year to continue moving forward on their defined path to personal and professional success. We also agree on how they want me to hold them accountable to achieving those goals.
Here is a taste of what we do in January and why it is so rewarding for me
First they share with me their excitement about their personal and professional progress, and how much more time they have to work on their business, not just in it.
We then review their financial reports for the previous year to see how they did and make sure all transactions are in the right places within their chart of accounts based on the financial system strategy we designed together. This helps get things ready for their accountant and simplifies filing tax returns.
I celebrate with them and point out how much better they did financially than the previous year because of the changes they put in place. Then we discuss budgeting and pricing/markup for the New Year using their historical information as our guide and as a reference. With the economy improving most of my clients are willing to sell at higher prices to help increase volume in the New Year, rather than just sell more work.
I encourage and support my clients in accomplishing a combined total personal compensation and net profit of 20% of produced volume. This compensation strategy gives them the money and the confidence they need to use some of those profits for investing back into their businesses to continue growing them. That level of total compensation also provides money to build their retirement funds and or finance other investments.
If we have worked on their marketing plan and strategy over the past year we also do a year end review of their results. After doing so most tell me they want to invest more on marketing this year because of the result they experienced last year.
|“Before, when I was working with other people, I felt like I was on a trampoline. Now, when I work with you Shawn, I feel like I’m on a concrete floor.”
David C. Agnew, Custom Home Renovation Solutions, LLC
I actually love what I do!
The business owners I work with are great people. Although they all have different motivations for seeking my assistance, they all share the common desire to remodel their businesses to make them better. As a bonus for me, when they give me the opportunity to help them, I also get the opportunity to help change the lives of their employees, trade partners and the customers they serve.
And, these are just some of the reasons I really love what I do!