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This remodeler is out $10,000 on a client who just won't pay. "I am frustrated that there isn’t much that I can do without pouring tons of cash at this problem."

MOST RECENT ANSWER:

DB-RemdMA1021 Said:
On the purely pragmatic side: What is your time worth? How much time will you have to spend chasing this $10K? Would that time be better spent selling more work or showering your good clients with attention and service, generating referrals? Is is worth keeping this lady in your life, making you miserable, affecting your demeanor and your other relationships? A few years ago, after paying...

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Compensating lead carpenters. Reader response: "As the economy improves, consider that compensation and benefits combined will be key in retaining good employees. Your competitors will be looking to steal your good employees."

Someone screwed up. Does the client deserve a discount? Reader response: "You shouldn't have to 'buy' your clients' love. You should have earned it by delivering an amazing project and an exceptional experience."

How profitable is that lead? Reader response: "We found that childless professional couples were almost impossible to satisfy. People who have never been out of control of their lives tend to not handle the stress of having their lives upended very well."

What are your most critical numbers? Reader response: "The number I would love to track if only i knew how (on the forehead of every prospect) is how much potential profit there is from them directly and every referral in the future." 

Under contract: the short form proposal. Reader comment: "This got me thinking about the $15 fancy brochures we hand out like candy to our prospects. I could pay for tablets quickly for my sales people by saving a few brochures."

 

Wednesday, May 16, 2012

Today's Daily5

 

 Best Practices  Wednesday, May 16, 2012
For Realtor Referrals, the Rules of Reciprocity Apply
For Realtor Referrals, the Rules of Reciprocity Apply

With home sales picking up, it's a good time to cultivate your real estate referral network. "In real estate, we all need a good contractor to help make things happen."

Read More       2 comments

 Answers  Wednesday, May 16, 2012
When the Collection Is Past Due
When the Collection Is Past Due

This remodeler is out $10,000 on a client who just won't pay. "I am frustrated that there isn’t much that I can do without pouring tons of cash at this problem."

Read More       5 comments

 Snapshots  Wednesday, May 16, 2012
Industry Snapshots: the d5R Dish
Industry Snapshots: the d5R Dish

Remodelers say they're busy -- but 'busy' is different than it used to be. How to capture new leads and resuscitate old leads. Is it a good time to buy another company?

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 Benchmarks  Wednesday, May 16, 2012
The d5R Index: 5.16.12
The d5R Index: 5.16.12

More facts and figures from the worlds of housing: remodeling reasons (rising and falling), trending in home prices, net-metering participation, workers' comp premiums.

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 Innovations  Wednesday, May 16, 2012
Lessons from the 404
Lessons from the 404

Well-designed moments can build brands and relationships -- even when things go wrong. A TED Talk about how "a simple mistake can tell you what you're not, or it can remind me of why I should love you."

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Flash

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