Today’s word is “Growth.” This six-letter word is not a bad one. In the U.S. today we are in an interesting economic position — some call it a Goldilocks economy because it’s neither too hot nor too cold. Economic indicators show growth in jobs, Gross Domestic Product, interest rates, and durable goods orders. They also show low year-over-year core inflation is low and the stock market is in a healthy, temporary correction mode.
Depending on which side of the aisle you favor, you either give the Trump Presidency credit for this or you don’t. However, one thing is undeniable: his administration has focused on creating a better environment for business – large and small. Part of that is because of the war they are waging on regulation, and part can be attributed to a burgeoning consumer confidence.
It also remains to be seen how the Trump tax cuts will influence the economy. The hope is they will enhance an already positive economy, freeing up more dollars for consumers to replace their aging comfort systems.
But That Can All Change
The impending tariff situation can have a negative impact on HVAC manufacturers and that can cause material prices to skyrocket. This means the prices you pay for equipment will go up and in turn consumers may opt to repair their old equipment rather than replace it.
In addition, growth could get stymied if Republicans don’t do well in the mid-term elections. Down the road, the business-focused changes Trump’s troops have made could all be swept away when the next president gets elected. It doesn’t matter if that is in two or six years.
“The Trump administration is focused on
creating a better business environment. So
focus on Growth and take advantage of
this fantastic opportunity.”
That’s why growth for your company is so important now. But where to start?
Maybe the first step is to think about it in this way:
G= Generate leads constantly and consistently
R= Retain your top performers always
O= Own your mission and strategy
W= Worry only about what you can control
T= Take advantage of every opportunity to train
H= Help your customers to buy your products and services.
For Performance-Based Contractors, these ideas are key to successfully selling and doing diagnostic testing, air upgrades, and duct renovations. By focusing on these things, you can take advantage of today’s friendly business environment.
Even if the political environment swings back toward a more Obama-era energy policy, things won’t be so bad.
Think about this: If Democrats gain influence in Congress and even the White House down the road, and we see a renewed focus on energy efficiency, reduction in CO2 emmissions, and so on, this puts Performance-based contractors front and center to be the white hats who will carry out those policies. After all, isn’t measured performance what we are all about?
And that, my friends, is good for growth as well. Growth is a six-letter word custom-made for Performance-Based contractors.