Level Up Your Business in 2024
As the new year moves forward, it’s time for businesses to put together a plan. Home remodeling and design site Houzz, shares a checklist to help you level up your business based on feedback from the pros in their community.
Create (or review) your strategic plan
A strategic plan is a roadmap that outlines your vision for your business: what you want to achieve and how. If you already have something created, take the time to revisit it and make sure it still works for you. When putting the plan together, successful pros on Houzz suggest starting with a mission statement which includes your high-level vision for the business—what you offer, your ideal customers and what sets you apart from the competition. Next, include specific goals along with the methods and resources you’ll use to achieve them and a realistic timeframe to evaluate success.
Research competitors, market trends and technology
A new year is a great time to take a step back and look at what is going on around you. The home improvement industry is fast-moving so take the time to research what your competitors are doing, see whether there is any new government legislation that might affect your business and look into any advancements in technology or software that could help you improve your current processes.
Embrace sustainability and universal design
Demand for sustainable practices and universal design is growing rapidly, with the latest Houzz U.S. Bathroom Trends Study showing that the overwhelming majority of homeowners (87%) choose sustainable options for their renovated bathrooms and the current and future needs of aging household members are the top priority (38% and 50%, respectively). Now is the time to get ahead of the competition by showcasing your experience in these areas.
Strengthen client relationships through communication
Strong client relationships not only lead to improved customer satisfaction, they also open the door to potential future projects and referrals. Establishing open lines of communication shows that you value their input and are committed to their satisfaction. Be proactive about providing project updates and regularly check in to answer any questions. Tools like the Houzz Pro Client Dashboard provides a centralized place where your client can access information about their project on demand, helping to streamline communication, approvals and requests.
Focus on talent recruiting and retention
According to the Houzz U.S. State of the Industry Report, one in 15 businesses reported that hiring or being understaffed is a challenge. It’s more crucial than ever to attract and retain top talent. When trying to hire, consider whether there are alternative avenues or backgrounds that you haven’t considered before.
Pros on Houzz say they’ve seen success from internship programs which allow them to train on the job. Retaining your current talent is also key. Whether it’s praising performance, introducing incentives or professional development programs, consider how you can ensure your employees feel valued.
Maximize revenue
Strong businesses have robust revenue streams. While increasing the number of clients is one way to improve revenue, there are others too. Designers tell us they are considering charging more for their services, looking to add new revenue streams, such as additional services and packages, or trying to reduce the financial drain on their businesses by improving systems and software. Regardless of which avenue you might choose, having clarity on your financial situation is vital to identify areas of opportunity.
Utilize tech
Leveraging the right technology can help you drive major efficiency gains and many homeowners now expect the convenience, transparency and speed that tech enables from the pros they hire. Whether you want to improve efficiency, reduce costs or deliver higher-quality projects, the right tech can make it easier to achieve your business goals, and implementing it into your existing workflow is more straightforward than you may think.
Houzz is the leading platform for home remodeling and design, providing an all-in-one software solution for industry professionals and tools for homeowners to update their homes from start to finish. Using Houzz, people can find ideas and inspiration, hire professionals and shop for products.