15 Tips for Starting an HVAC Business
Things I’d Tell Myself If I Could Start Over with My HVAC Business
They say hindsight is 20/20 and that holds true in the world of HVAC business. Master Guide Kelley McKay shares 15 things he’d tell himself if he could start over with his HVAC business. Learn what he would do differently to make his business grow faster and provide more for his family sooner.
Kelley’s 15 Tips for Starting Your HVAC Business:
- Pay attention to the details.
Learn every single thing you can at your current job. Pay attention to the details of operations. When you get home, write down all of the processes that you learned and how you might change things to be more productive. When you do that, you won’t just be going to a job, you will be going to school each and every day. Then, when you are ready to start your business you will have a plan that will give you direction and help you avoid costly mistakes that will set you back.
- Charge enough to grow quickly – period!
- Ask for help.
Fixing and replacing equipment has nothing to do with business. Be humble and ask for help.
- Pay for knowledge.
When you pay for knowledge, you pay attention.
- Say “no” more often.
- Get your family’s support.
Have a conversation with your family to make sure they understand the demands that owning a business will place on you. The business will require a lot of your time, more so than when you worked for another company. Discuss the support you’ll need ahead of time so that it’s not a complete surprise when you need to work some late nights. Be sure that they are up for the challenge and help them to understand that it’s only temporary. Get them involved in the plan and have them hold you accountable to its attainment.
- Start with a minimum of $50K and great credit.
This will give you time needed to gain new clientele and get cash flowing without excessive worry and potentially sleepless nights.
- Don’t name your company after yourself.
You may not want to be directly tied to your business in the future. Consider the fact that you may sell your company one day. What if the new owners don’t hold your same values? Do you want your name still tied to that business?
- Think world class brand.
Brand your company so that it could be placed anywhere in the world and still be relevant.
- Train yourself and your people twice a week, minimum.
Don’t wait for the perfect tech to come along and join you. Find good people who share your values and train them.
- Don’t waste time trying to change people who aren’t a good fit for your company.
Cut the anchor. Move on. End of Story.
- Focus on maintenance agreements.
These will carry you through slower seasons. Make it an easy, no-brainer for your customers.
- Get a line of credit.
Until you build up some capital, you may need to draw from a line of credit during slower cash flow months. There are unknowns that no matter how much you plan for will still show up. In business, you only run out of cash once. Without cash you no longer have a business.
- Take time off.
You’ll never get caught up. There’s always more to do. More fires to put out, more jobs to bid and more problems to solve. Take the time off.
- Use a Customer Retention Management System (CRM).
A good CRM will ensure that every invoice is accounted for. Some can help you collect reviews and help increase the customer experience through text messages and emails that are automated.
Ready to take Kelley’s advice? Join the Nth Zone today to begin your journey toward success. Contact us at 919-568-5285 or reach out via our contact form. We look forward to helping your business grow!
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