Hey, guys. It’s Brandon Lewis. It’s my last day in New York City. As you can see, I’ve happened upon who could be one of your competitors, a painting company. I want to talk to you about how you can improve specific metrics in your painting business, and it’s using a formula called MRIM, and here’s how it goes.
The first thing you need to do when you know that you want to change something that is fundamentally important to your profitability, the first thing is to identify what you’re going to measure. It could be labor hours on jobs. It could be closing rates. It could be the number of customer satisfaction surveys that get turned in by crew leaders. What I’ve discovered is that most owners never measure these metrics. If you can’t measure it, you cannot fix it. You cannot identify it.
Number two is to report it. When you report the measurement inside your business to your crew members, to your administrative assistant, to your estimators, they are now suddenly aware of it. If you’re sending your crew leaders out there without labor budget, without understanding what they need to do, they cannot succeed for you and they will disappoint you.
Once you report it, the next step is to incentivize it. You must give them reasons to repeat the behavior, to continue to grow your business. Incentives don’t just have to be commissioned. They don’t just have to be bonuses, although they should be. We do a really bad job in the painting industry of recognizing people publicly, of recognizing them privately, of giving them competitions to compete in with each other. We also do a pretty bad job of giving gifts and other forms of praise that maybe because we’re a male dominated industry, we’re just frankly terrible at.
Then, finally, you must manage. Once you measure and once you incentivize and once you report, you’ve got to manage those individuals so that they can behave and perform better. That could be sitting down and talking to them in a mentoring fashion. It could be providing them with tools. It could be providing them with training. If you want to change any metric in your painting business, follow that MRIM protocol and I promise you, you will see improvement.
I’m Brandon Lewis at Painters Weekly and I hope this has helped you become a more successful and profitable entrepreneur. Talk to you later.