For any business owner, it is important to avoid the mistakes that can badly impact the bottom line. In the HVAC industry, there is the added concern of causing harm to others or their property if mistakes are made. Fortunately, the vast majority of HVAC operations are led by morale individuals who provide proper training, tools, and contacts, so that those mistakes are very few and far between. Some errors, though, are very common and do not involve the actual installation/ repair process. These mistakes are made behind the scenes. They too, though, can be quite costly and are best avoided.
Mistake #1: Failing to Delegate Effectively The owner of the business must wear many hats, but (s)he shouldn’t wear all of them. It is important to manage your time properly if you are going to be a success as an entrepreneur. Too often, the owners are running themselves ragged while employees sitting around awaiting further instruction. Be sure that you are delegating in order to keep the business running smoothly.
Mistake #2: Having No Road Map Don’t have a business plan? You are making a big mistake. You should have a clear picture of where the company stands currently and where you hope to take it over the next three-five years. This is the purpose of a business plan. It can serve as a road map to ensure that all decisions are made for the good of the company.
Mistake #3: Keeping on (or Hiring) The Wrong People If there is a weak link in your team, it can lead to decreased morale, reduced efficiency, and costly mistakes. It is absolutely not worth hiring- or keeping an employee who is not fit for the position, even in the busiest time. The right people will help you grow your business. The wrong employees can really ruin all forward momentum.
Mistake #4: Forgetting the Word ‘No’ Not every job is worth taking. That doesn’t meant that you have to specialize with pinpoint precision, but it does mean that you should know when to say no. If you can’t do the work in a timely manner, if you won’t make any money doing it, or you simply don’t have the expertise to manage it properly, then don’t take it on.
Mistake #5: Not Offering Add-On Services and Components SRP Controls sells a wide array of diagnostic tools, sensors, and controls that can greatly increase the profitability of your business, if you remember to sell them to your customers. Consider cold calling to provide energy loss evaluations of customer residences. When you install new systems, be sure to discuss the advantages of energy-saving sensors and controls. You will be offering real value to the consumer, while increasing the profit potential of nearly every job.