Episode 713 – How to Use Inflation as an Opportunity for Growth
Today on the podcast we have Erin Broderick who started BG Cleaning back in 2017 in Columbus Ohio. Her company currently cleans over a quarter of a million square feet of commercial buildings per day. They are up to 10 employees now and looking to grow. Today we talk about the current hiring market on the tails of covid, what it means, why it can be an opportunity and how to take advantage of it. Wherever you are in your business journey, there are some gems in today’s podcast you don’t want to miss!
What Made You choose commercial cleaning over residential?
For Erin, it was a numbers game. She saw commercial cleaning companies do well, it was something that made sense to her in terms of contracts and how it could be scalable, and so that’s the direction she went. That decision will be different for everyone, but the goal is ultimately to decide based on what your goals are for the future and how best to achieve those versus where you feel the most comfortable. Now, Erin wants help to know how to handle the hourly pay increase that’s happening around the country as we’re coming out of covid and how to have that conversation with potential clients.
The Power of Be, Do, Have and Why this Order Matters
One of the first things Erin mentioned in the beginning of the podcast was that she has to up level who she was in order to be the leader she needed to be to run this business successfully. That understanding is so crucial when it comes to growth. So often, we want to have, do and then be. You give me the fire and the heat and then I’ll get the wood to keep it going. That rarely works to our favor. We have to know who we are and what we want, work for it and then we’ll have what we want to have. It’s what makes the difference between those who really take their businesses-and lives- to the next level.
The First Step to a Solution is an Empowering Question
When we are looking to solve a problem, changing the word “ problem” to the word “opportunity” can really get us some leverage and enable us to use more critical thinking skills to solve the issue at hand rather than spinning in complaining or the unfairness of it all. In terms of how to get an employee to work for you when the supply and demand isn’t on your side, so much of hiring the right person is more about the culture of your workplace and less about how much down to the penny you’ll pay a person. Ultimately, if someone enjoys working for you, they’d rather show up to work for you each day than make potentially a little more money in a negative or toxic environment. If the culture is there, you can pay above average but not higher than anybody else and still build a great team.
How to Have a Conversation with Potential Clients About Current Inflation
Basically- it’s not something you really need to educate them on. If they don’t live under a rock, they are going to be very aware that there is inflation happening in the world right now. They’re likely dealing with it themselves. If they don’t want to pay the higher prices, you can ask them to go out and find a better price if that’s what they want to do, but they aren’t going to find it like they would have been able to in the past. You have reality on your side, which is going to benefit you greatly. Not only that but this is offering a unique opportunity. Lot of companies are playing small right now which will work to your advantage if you do the opposite.
Final Takeaway
This current market can be viewed as an opportunity rather than a problem. Watch the magic happen when you start to see it that way.
Want to know more about these tools and what you can do to get out of your own way and improve your mindset? Go to growmycleaningcompany.com to listen to our FREE webinar or growmycleaningcompany.com/talk and book a call with one of our coaches. They will get you set up with all the tools, systems, and more to build the business you’ve always wanted.