Remodeling Mastery by Mark Richardson

Thank you for listening to Remodeling Mastery. Subscribe today to ensure you never miss a new episode by searching for Remodeling Mastery using your favorite podcast app. In this episode: PART 1: Ten Ways to Invest in Yourself Mark Richardson shares insights into 10 ways on how to best use the extra time during this period. 1) Develop the Right Mindset - You now have the time and opportunity to have access to insights and information that can help you succeed with your business. Think of it like attending a virtual university. Set aside some time every day to improve your knowledge and skills. 2) Take Inventory - Take inventory of yourself and figure out your own personal and professional fitness. Score yourself on different criteria and then focus on improving your weaknesses bit by bit. 3) Improve Your Technology Skills - Technology has already revolutionized our business. Take some time to sharpen your technology skills. We suggest developing your acumen and your speed. 4) Focus on Your Relationships - Make a list of all of your meaningful family, personal and professional relationships. Take some time out of your day to reach out in a meaningful way to one person from your list. Do this every day. Your relationships are what people will remember about you. 5) Practice Your Hobbies - Take the time to slow down and get back into your hobbies. Investing the time and energy into your hobbies can be therapeutic. You’ll be better at the end of it. 6) Improve the Processes and Systems of Your Business - You need to analyze your business processes and figure out ways to make them more efficient. 7) Engage With Your Community - This is not the time to make an island out of yourself. Reach out to your communities. 8) Develop Technology Tools - Develop new tools or take old tools and push them to the limit. Think about how you can integrate technology into your business and how it can take your business to the next level. 9) Improve Your Leadership Skills - The biggest and most important thing that can lead your business through all this is your leadership. 10) Focus on Your Health and Fitness - If you can focus on getting on a good path as it relates to your health and fitness then you will feel better and you will be able to position yourself better after this period. PART 2: Thought Leader Interview With Erika Taylor Erika Taylor is the chief of content for one of the top construction and remodeling trade publications in the country: Professional Remodeler. Together, she and Mark share the latest insights on how COVID-19 has affected the home services industry and economy and discuss the surprising opportunities that have arisen during this time.

Thank you for listening to Remodeling Mastery. Subscribe today to ensure you never miss a new episode by searching for Remodeling Mastery using your favorite podcast app. In this episode: Part 1: False Positives Mark Richardson shares insights into 5 false positives that he encourages small business owners to have on their radar to help position their businesses for success. 1) Lead Flow: While many businesses are starting to see an uptick in leads, Mark stresses caution on thinking that it also means it's safe to scale back marketing and advertising. The unpredictability of the pandemic could create another period of uncertainty if a second outbreak should occur and those that stop marketing will find themselves in trouble once again. 2) Online Engagement Rates: Just because open rates and engagement on social media are higher, it doesn't necessarily equate to better marketing. Mark stresses the importance of understanding the environment and how it affects your performance when determining which activities are yielding the greatest ROI. 3) Close Rates: While businesses are seeing a 5% to 10% increase in close rates, that could be more of a representation of the buyers' sense of urgency than anything else. It's always critical that you review and improve your sales processes on an ongoing basis. 4) Virtual vs Face-to-Face Interactions: Virtual sales consultations will become the new normal, but for right now at least, many customers still expect in-home visits because that's all they've ever known. However, the businesses that don't make it a priority now to focus on virtual selling and mastering the art, will soon start to see opportunities lost to those that have. 5) Balancing Your Project Portfolio: While home services contractors are starting to see customers resume their "big ticket" projects, it's important to still accommodate smaller-scale projects to keep a balanced portfolio in the event of another outbreak creating another period of uncertainty. Part 2: Thought Leader Interview with Kermit Baker (Chief Economist for the American Institute of Architects and Project Director of the Remodeling Futures Program at Harvard University) Mark and Kermit discuss what's happening and share the latest insights on how COVID-19 continues to impact the home services industry and economy.

In unprecedented and challenging times, it's important to understand the environment your business operates in and how it's evolving. What is the new normal? How does it impact your ability to grow your business? In this episode, Mark Richardson breaks down the new normal by looking at 5 core aspects: 1. How consumer behaviors are changing 2. What will be the accepted health and safety measures 3. The business models that will help you thrive 4. How going virtual now will give you a competitive edge 5. The mindset you need to grow your business during uncertain times

Thank you for listening to Remodeling Mastery! Become a subscriber today—just search for ‘Remodeling Mastery’ on your podcast app of choice. (1:06) In This Episode: How Are You Feeling? Over the past few weeks, we focused on the fact that now is the time to lead. This topic shifts gears to discuss the actions that you can take to help you navigate the experience that we're having today. In this episode of Remodeling Mastery, Mark will discuss the four things that you can do during this time that will help you improve your business. Focusing on actions that you can take can help you reduce your anxiety and give you a clearer picture of how you can deal with the coming months ahead. (12:27) Thought Leader Interview with David Pickle, CEO of The National Association of the Remodeling Industry David Pickle is the CEO of The National Association of the Remodeling Industry. NARI assists with business development, serves as a platform for advocacy and helps connect homeowners with its professional members. It's the only professional trade organization dedicated to the remodeling industry. Join David and Mark as they share insights about the industry and discuss what NARI does for its members. "I think one of the strongest intangibles is what you just touched on. The validation that you're not terminally unique. And that I think is the struggle for a lot of us that are out there in the marketplace whether we are in our first year or in our fifteenth year." —David Pickle

The night is always darkest before the dawn. No matter how dark things may appear, there will always be light at the end of the tunnel. It's just a matter of when, not if. In this special episode of Remodeling Mastery, Mark Richardson shares 10 actionable steps that can help put your behavior and mindset in the right place to reclaim your mojo.

Mark Richardson shares why now is the time to work on improving your business amongst all the uncertainty and chaos. Over the course of 15 minutes, Mark shares 10 areas he believes all business owners and professionals should focus their time and energy on that can have the greatest change and ultimately make their businesses stronger. 1. Be proactive, not reactive with how you spend your time 2. Prepare for a challenging few months 3. Get your priorities in order; what's right and what's most important? 4. Know your numbers Keep listening to learn more! *The interview with Andrew Sherman that Mark Richardson mentions at times during this episode is coming soon.

In this episode, Mark Richardson suggests businesses take a glass half full approach as it relates to the COVID-19 pandemic. Take a listen to discover 10 ideas for how you can position your business to come out of this period of uncertainty better than you were before it started. These ideas are inspired by conversations Mark has had over the past week as he speaks with business owners and leaders across the country on what they're seeing and thinking and will help you set the stage for your business to thrive 6 months, 9 months, a year from now.

The concept of surviving in business is something everyone should be thinking about during these uncertain times and what lies ahead in the next few months. If you do, you'll find that the opportunity to thrive will be greater than ever. In this special episode, Mark Richardson shares 10 actions, ideas, and recommended digital tools to help your business not only survive, but help you position your business for the future and long-term success. Take care, everyone!

(1:38) In This Episode: Virus Leadership This is the time to lead, the time for leaders to step up and lead their company. This is one of those times where there are a lot of things going on, particularly the issue with the coronavirus. In this episode of Remodeling Mastery, Mark explains the importance of good leadership and management during uncertain times. There is a tremendous amount of uncertainty out there that can create fear and confusion among your team and clients. Tune in to learn lots of tips that will help you lead your team better. (16:59) Thought Leader Interview with Erika Taylor, Director of Content for Professional Remodeler Erika Taylor is the chief of content for one of the top construction and remodeling trade publications in the country. She joins Mark today to share some of her insights into the latest trends and issues in the industry. Tune in as they discuss the increased consolidation and activity of private equity companies in the home improvement industry, the focus on greater authenticity during marketing and the effect of the younger generation on the industry. “Yes, we have a labor shortage but as the older generation exits in ever increasing numbers, the younger people coming in are going to remake the industry in exciting ways and I'm starting to see that happen.” —Erika Taylor

Thank you for listening to Remodeling Mastery! Become one of our 50,000 listeners by subscribing today—just search for ‘Remodeling Mastery’ on your podcast app of choice. (1:48) In This Episode: Risk Intelligence How do you think about risk? Risk intelligence is one of the most important differentiators between successful businesses and mediocre businesses. It's not enough to simply think in terms of high-risk tolerance and low-risk tolerance. In this episode of Remodeling Mastery, Mark will explain the concept of risk intelligence and why it is different from risk tolerance. Join Mark as he discusses seven questions you need to ask yourself to determine your risk intelligence. He also gives tips on how your business can deal with risk better. (17:19) Thought Leader Interview with Kermit Baker, Project Director for Remodeling Futures Program at Harvard University Kermit Baker is the Project Director of the Remodeling Futures Program at Harvard University and he is also the Chief Economist for the American Institute of Architects in Washington, D.C. Join Kermit and Mark as they discuss where the remodeling industry is heading. They discuss the state of the remodeling market in 2020 and beyond, potential challenges and issues and more. "When we sit in this housing bubble, things look pretty rosy. But I think if you get outside that bubble for a minute you see a lot of potential risks out there. Number one is the economy grew in 2018 in about 2.7, 2.8% and last year grew about 2.3% and this year it's projected to grow in under 2%." —Kermit Baker