In this episode, Randy talks with Brian Younge. Brian is the President and Founder of Home Painters Toronto, a leading painting contractor in the Greater Toronto Area since 1991. He is very passionate about the painting industry and dedicates a good portion of his time educating clients on various aspects of it, so they can make better, more informed decisions when wanting to better their most prized investment, their homes. Brian is also in hot demand for his views on entrepreneurship and business. He’s been recently featured in many publications including Entrepreneur.com, allBusiness.com, Small Biz Trends, CRM Magazine, Business.com, The Globe and Mail, and various video interviews and podcasts.
Most business owners fall into one of two categories. They either understand the importance of metrics and tracking key information or they don’t. Even those that understand the importance of metrics, aren’t necessarily great at tracking them. Everything you are tracking, to how often you track it, is integral to get an accurate read of your business. Why is this so important? Well, to exponentially increase the size of your business, you have to understand your business inside and out. In this epsiode, Randy Stanbury, CEO and Founder of 4 Level Coach, explains why he believes measuring metrics is essential to developing a strong business. In Randy’s experience, having a deep understanding of your metrics will ultimately lead to personal and professional freedom. Randy invited Brian Young to discuss his approach to metrics and tracking.
What you can expect to hear:
Brian believes that as a CEO you always have to be differentiating yourself from the market with new products and services.One of Brian's biggest focuses is what he calls as scorecards which simply refers to the vital metrics in his business.In Marketing Brian only looks at two metrics, Leads and Sales because those are the only two metrics that directly relate to cash flow.Once a company hits $1 million in revenue the CEO should have a good grasp on the key metrics of their business since there are so many moving parts at that point. Every business owner needs to know their average job size, how many quotes they do, and how many they close. By knowing these metrics they can forecast what your revenue is going to be and make more informed decisions based on them.Positive reviews are another metric that “Home Painters Toronto” keeps track of because they understand that the more positive reviews they have the easier it is to sell jobs at a higher pierce therefore making the company more profitable.Another aspect that makes Home Painters Toronto so successful is the fact that they have a weekly meeting where the go over wins from the previous week and things they need to improve on going into the following week. This serves as an accountability tool for the management team as well as the crew leaders.It took about 20-25 years for the company to get into the rhythm of doing their weekly meeting every week but once they started doing it consistently they have noticed a massive improvement in the communication and productivity of the company.Now that the company has grown so big, Brian has noticed that his role in the company has changed to more leadership and empowerment than quoting and doing jobs.And much much more!
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