Our Approach To The Remodeling Business
Remodelers on the Rise is a podcast designed to build a community of remodelers that support each other and share tips for providing the best possible service in every facet of our business.
Recently, LTD Builders was invited to participate. We had an excellent conversation with the host, Kyle, about our approach to the remodeling business here in Florida. Read the highlights from our podcast episode below.
From Construction Roots to Remodeling Leadership
After years of experience working for others in homebuilding and renovation, Audra’s skills and vision had grown to the point where she wanted to work for herself. She realized the approach she wanted to take to renovations was a more custom and client-focused approach. So she started LTD Builders, and the rest is history. Here’s how LTD Builders was founded, from Audra’s perspective:
Out of college, I immediately put my degree in construction management to use with a production home builder in 2005. However, the 2008 market downtown upended everyone’s plans.
Though it was a tough time, I kept my job in homebuilding until the demand for new builds completely disappeared. At this point, people weren’t buying homes, but they were renovating. To adapt, I took on a new job with an investor looking for help renovating and flipping condos.
“That was how I got my introduction into renovations. And then I eventually kind of outgrew that and broke free and started doing kitchens and bathrooms on my own. And then that led to bigger projects like condos and additions and full house renovations, which is really kind of the bread and butter of what we do now.”
Relationships Built on Trust
Audra’s experience in production building and flipping helped build relationships and taught her the ropes of the business she’s in now. But the most important lesson she has learned is building relationships:
At LTD Builders, we understand that we can’t do great work for clients without having great relationships with our trade partners. Whether it’s plumbers, electricians, drywall, or tile, our goal is to be the easiest GC they’ve ever worked with. We learned that a big factor is our consistent payment schedule. It’s industry standard to pay monthly, but we plan our cash flow so that we can pay every Friday. It seems small, they get paid the same amount either way, but our trade partners appreciate the promptness and reliability of our weekly payments.
That’s just one way we build trust. As our business has evolved, we have learned to pay attention to what our trade partners appreciate, so we can consistently show them the trust and respect they deserve. It comes back to us with loyalty that makes our projects run smoothly.
One example was a plumber we worked with, who really wanted everything to be clearly marked ahead of the rough-ins. We had plans, but he wanted the cabinet maker to mark exactly where the sink was going to be. At first, this made our jobs run slow, because he’d show up to a jobsite and tell me it wasn’t ready. But after working together and communicating really clearly, I learned that having a really organized schedule and a detailed plan works better for everyone. Now, when I call this plumber, he puts our remodeling jobs at the head of his line because he knows I mean it when I say the site is ready and he’ll be paid promptly.
Systems that Serve Clients
Having strong relationships with trade partners helps LTD Builders serve clients. But Audra and the team have put other systems in place to ensure that the process is prompt and seamless for the homeowners, too:
First, we implemented a software called BuilderTrend. We integrated with QuickBooks and streamlined our invoicing and organization processes. This allows us to schedule, clearly communicate with clients, and be really responsive with estimating, sending proposals, and making job costing very clear.
Using these technology tools reduces the “noise” and helps clients understand what is getting done, what’s next on our list, and who’s going to be on your site tomorrow. It’s also streamlined the selection process, allowing us to seamlessly communicate with vendors as soon as you lock in your choices for your home remodel.
All said and done, this has reduced the number of calls and texts I receive from clients by nearly 90% because all of the information is communicated so effectively.
Financial Discipline = Business Stability
The financial side of the business is often the most intimidating. Accurate job costing is vital to ensuring LTD Builders can sustain our business growth, but also to ensure a smooth and easy process for clients:
We are very careful with our clients’ money. When they send us deposits, we keep that separate from the operating money for the business. This is so their money is never spent on our business expenses, it’s reserved for their project. We do accounting for each WIP (work in progress). We have detailed visibility into what we produce each month. We have an attitude that the money isn’t ours until we’ve earned it by producing results for the client.
This might sound risky to some business owners, but from my perspective, the clarity and separation of finances allows us to provide better service to the clients, supports steady growth, and reduces risks. We always have a clear picture of where our finances are, at a project level and as a business level.
Building the Right Team
Assembling the right teams started with learning how to find and recruit the right people. LTD Builders has a very objective method of hiring to ensure we find the perfect balance of skills and personality.
At first, I didn’t feel like I could go out into the world and recruit people to work for me. I hired people who were familiar, or people who were looking for a job. The lack of confidence made everything hard. The business was growing, but we were having staffing issues and were too slow to hire when we needed to. That held us back.
Over time, we learned to focus on proven recruiting methods, like using the DISC profile for hiring to assess personality and understand how to match a candidate’s skill and personality to the roles we need. It helps us take an objective approach to the skills and characteristics the role demands, versus hiring someone because we think they are a good fit.
The WiseHire platform has also helped us to streamline our hiring process and find the clear best fit. We’ve been able to use this platform to identify the clients who really have the right combination of skills and personality for the role, it helps us find the person who can get the job done.
That, combined with creating a positive work environment and encouraging people to find the right seat that maximizes their natural aptitude, helps us reduce turnover and provide a consistent experience to both trade partners and clients.
A Bold, Client-First Vision
The vision for LTD Builders focuses on delivering results for clients through honest hard work and “making our own luck” through focus, grit, and determination.
Once, I met someone in passing, and they mentioned the phrase: Fortune favors the bold. And that resonated with me early in my career.
Early in my career, it meant making my own luck and taking risks. And now, it means if I work hard enough, I’ll get what I want, which is running my business through the ups and downs and providing real results for our clients.
This mindset has shaped so much of your business, from the methodical approach to hiring to our transparency with clients. A true commitment to excellence and hard work at every step is what has been driving LTD Builders’ reputation and growth. We work hard for trade partners, our team, and our clients, and it shows.
Listen to the Full Podcast
Want more than the highlights? Listen to the full episode
If you are interested in learning more about LTD Builder’s work in Florida, get in touch with us today.