What Is A Customer’s Willingness to Pay (WTP)? Example and Definition
A customer’s willingness to pay (WTP) is the maximum amount they’re willing to spend on a product or a service. It’s easier to understand their willingness to pay when we…
Empathetic Competent Convenience: Why Customers Pay A Premium
The concept of empathetic competent convenience has been studied at Harvard University for some time now. When salespeople display warmth (compassionate empathy), they are signalling an earnest intent to help….
The Importance of Closing ARC on Everyday Sales
Most Gurus lump sales and closing together as a single act and I’m here to tell you that they could not be more wrong. There comes a point in every…
Customer Service Experience: The Reason Customers Pay More
Customer service experience is one of the most critical aspects of your residential home service business. We may think an excellent customer service experience is equally important to all industries,…
The Biggest Problem with Roofing Companies (Service Before Sales)
Sales and services are often used interchangeably in residential home service, but there’s a subtle difference between the two concepts. Sales are associated with full-blown home service projects like installing…
What Customers Really Care About (For Residential Home Services)
Displaying customer care should be a non-negotiable quality among all businesses. Customer care must penetrate every touchpoint between a company and its customers. Customer care must pervade everything from customer…
Financial Modeling: What HVAC Management Should Know
The decisions you make as an entrepreneur will make or break your company. Every business owner, including HVAC contractors, carries the heavy burden of ensuring the sound financial future of…
What’s Working Well?
Have you ever spoken this question out loud? Or even internally asked it of yourself? If not, consider it a missed opportunity. I guarantee you: this question will transform your…
Top 4 Commonly Used Financial Analysis Tools
As business owners, you want to understand the financial implications of all decisions you make throughout your business. You may want to consider economic trade-offs that get you ahead faster,…
Cash Flow Analysis: Reviewing Your Cash Flow Statement
Reviewing your business numbers means spending time on three financial statements: The P&L or income statement The balance sheet The cash flow statement The three documents enable you to have…