Corey Philip, President of Gulf Coast Aluminum and founder of Home Pro Success, joins us on the Art of Construction podcast to share how he uses employee efficiency to grow his business.
As a business owner, Corey discovered that the way to increase revenue is not to nitpick costs to your overhead, but rather to make sure your team is running efficiently with all the tools and resources they need to do the job right. Devon and Corey also discuss other business tools like The E-Myth Revisited and EOS that they have used to grow their businesses. Whether you are a one-man band or have a team of 100, you’ll want to listen in to find out how making a few simple changes can help you increase your company’s revenue.
1:12 Speed round – get to know Corey
3:06 How Corey started Gulf Coast Aluminum
4:43 How Corey started the HomeProSuccess blog. Corey is happy to share his successes (and failures!) as a business owner.
7:57 Growing your business. Often when business aren’t thriving, owners look at cutting overhead costs like coffee. But most business expense is in people. If you can make sure your crew is running efficiently with all the tools they need to do the job, you can make more money.
10:34 Get your labor to work more efficiently to earn more revenue with the labor you already have.
10:54 Case study – your crew goes to the job site but doesn’t have a long enough ladder for the job. The crew waits for 20 minutes to find out what to do next from the owner/manager. Do they come back to the shop? Go to The Home Depot? Can take 3 hours, $300 to get the ladder to do the job, and that doesn’t take in account the lost opportunity of getting more work done.
14:20 It’s up to the owner/manager to make sure the crews have all the resources they need for the job site.
14:24 How Gulf Coast Aluminum uses 3 different paper checklists to make sure crews have everything they need on the truck.
19:29 Corey’s biggest business owner challenge – the people side. Staff doesn’t always follow directions. Paper checklists work well because everyone can see the checklists and see other staff working on them. Sometimes more technology isn’t the answer.
21:41 How Devon decided to bring in-house IT – starting with the E-Myth and developing an org chart and then the Entrepreneurial System to determine what positions are needed to make the company work the way you envision it.
26:52 Actionable item – how to work on your business. Take a quiet hour to work on your business. Brainstorm – take the 3 functions every business needs – Sales & Marketing, Operations and Finance and figure how what your business needs in each area.
29:28 Be very clear with your team – what your company does and what they do to support it.
31:13 Simple Rules book – how simple wins in a world of noise.
34:37 Corey’s tip to grow your business – understand your employee’s efficiency