Though there may be some people in this country living “off the grid,” having to persuade a homeowner about the value of installing a heating and cooling system is not typically necessary. The persuasion requirements are instead centered around which kind of system they need, why they need it now and why you’re the one for the job – or, for the service side of your business, how they can take care of what they’ve got.
The idea that most homeowners in America are aware of the value of your product is certainly an industry advantage. Yet, there’s still work to do in making the case for choosing you.
We’ve included a report on the State of the HVAC Industry in 2019 (which looks back five years and ahead the same distance), and it has a lot of data that should give optimism for going forward. The housing sector has rebounded, and there’s been growth in the industry across the U.S. Though the growth isn’t projected to be quite as fast, it’s still there. Plus, there’s pretty much a solid market for service and repairs during any type of economy (given that heating and cooling are essential).
As you review the data highlighted in these pages, let it spur your own forward-thinking projections and strategies. Along with creating your annual marketing plan and business plan, it’s also a good idea to take time for a strategic planning process that looks past the immediate to your long-term goals.
For example, will you add new services, new divisions or new locations? Will you pursue new markets and new territories or add new staff? Or is there something old that needs to go? Will you drop services and products that are out of date? Even if you stick with what’s working right now, you’ll be more confident in your decision-making when you go through the process of asking what’s working and what needs changing.
In the day to day, these questions might come up, yet finding your answers is worth setting aside some time to get it done. Generally, strategic planning involves establishing your overall goals, then identifying objectives that support those goals. From there, you set your priorities for moving through the objectives.
The process can be as complex or as simple as you’d like to make it. And since most people prefer “simple,” here’s the essence of creating a strategic plan.
You could start by going through a series of questions that begin: Where are you right now? This is where you create a snapshot of your business that indicates challenges and risks, as well as things that are going well. Conducting a “SWOT” analysis – which considers strengths, weaknesses, opportunities and threats – is usually a good way to draw this picture.
Second, what’s your vision? It’s hard to figure out what to change, correct or continue unless you understand the vision you’re trying to pursue. Your vision can include sales goals and new markets, as well as a purpose or mission that speaks to your company values.
Third, how do you get there? This is where you take your goals and begin to fill in action-step tactics. As part of this effort, you’ll want to identify the obstacles to achieving your vision (such as lack of availability of trained workforce, a limited understanding of digital marketing or increased competition from new operators). Getting clear on your obstacles can help get a realistic look at the difficulties you face.
Your planning process should also consider the resources that are currently available as well as the resources that you need, such as staff, equipment or training.
Planning is partly about crafting a vision, but it’s also about being realistic. It brings to light what you have, what you need and what’s in your way. And the planning process itself should also incorporate another important factor: how will you monitor and measure results?