Category: Business Tips

Properly Incentivizing Your Employees for Growth

March 1, 2022

By David Stamper, NPI, Inc.’s President & CFO Your employees are the most valuable asset you have for your business. And the more motivated they are, the more productive they’ll be to help grow your business. Here are some ways you can incentivize your employees. Why Incentivizing is Important Properly rewarding your employees for their hard work is important for a number of reasons. First, it makes them feel like they are a valued member of the company. Employees that feel they are needed are more likely to contribute. That willingness to contribute also leads to better teamwork and collaboration. Overall, there’s sure to be a boost in morale when your employees feel as if they’re valued members of the team. Pay Benefits Money is a common incentive most business owners use. It can motivate both newer and longer tenured employees. You of course want to give adequate bonuses based on how long an employee has worked for you, quality of work, and likelihood they’ll stay with you. You can use either a one-time bonus or bump their salary permanently. If you can afford it, doing these annually will further motivate employees. Vacation Time As much as we may love

The Hidden Benefits of Starting Your Own Business

February 22, 2022

By Sammi Marcellus, NPI, Inc.’s Recruitment Coordinator There are many clear incentives to starting your own business. More free time, no pressure from a boss, and being able to make more money are just a few of the benefits that attract people the most. But there are other pros to venturing out on your own as well. Here are some of the added benefits to running your own business. Build your own self confidence. You may find that as you start to grow your business, you’ll also start growing as a person. You’ll have to break out of your comfort zone a bit and strengthen your belief in your own abilities. It’s easy to doubt if you’ll be successful, but the more you improve, the bigger boost you’ll give yourself. Soon you might notice that speaking to new people or trying new strategies isn’t as scary as before. Your clients will also notice how confident you are, and they’ll be impressed by it! Make new connections. Going on your own sometimes means leaving your old social circles. But that’s not always a bad thing. Soon, you’ll start meeting new people, whether they be clients or fellow business owners. Building a

Gearing Up for Tax Season

February 1, 2022

By David Stamper, NPI, Inc.’s President & CFO As we head into February, we move one step closer to that all important time of year– tax season. If you let out a small groan every time you hear those words, you certainly aren’t alone. It can be a headache to file taxes and be sure that you do it correctly. A small mistake or simply not getting your return in on time could cost you. Nearly 10 million people each year incorrectly file their income tax form. To avoid being one of that group and paying fines, get a head start! Know Deadlines To avoid panicking at the last minute and trying to get your taxes in order, make sure you know when you have to file. The dates will vary depending on your business structure and if you use the calendar or fiscal year. In the U.S.: For more information on your state’s tax deadline, check their tax division website here. In Canada: More information about Canada’s tax deadlines can be found on the government website. Keep Your Receipts Being a business owner means you’ll now incur a variety of expenses. Travel, tools, and additional training are all purchases

The Top Qualities REALTORS Look for in Inspectors

January 25, 2022

By Kimberly Stevens, NPI, Inc.’s Marketing Coach As an inspector, you might already have an idea of the perfect client you want to work with. And when you get the chance to work with someone that fits it, it makes your job that much easier. The same holds true for your clients. Real estate agents have an idea of the inspector that they want to work with, and they always want to try and find the closest match. Good Communication You most likely prefer a client who is responsive, so it’s only natural that agents want the same thing from you. Agents handle multiple transactions each month and need to move quickly between each one. If the inspector they’re working with is hard to reach, it can delay the buying or selling process and result in a lost sale. While you can’t be available 24/7 running your business, do your best to promptly reply to agents. Set up your voicemail or consider a call center so that agents can leave you a message when you can’t answer the phone. If you plan on leaving town for a vacation, let them know ahead of time and set up your out of

Another Dollar: How to Save Money While Growing Your Business

January 18, 2022

By David Stamper, NPI, Inc.’s President & CFO Correctly managing your finances is necessary to be a successful business owner, yet it isn’t always the easiest thing to do. Close to 80 percent of entrepreneurs fail due to poor money management. If you’ve never owned your own business before, you might have a million questions about how much to save and what’s the best use of your money. Luckily, you can get things sorted out with a few tips. Common signs you have a money problem. Figuring out that you’ve got a problem with your accounting will help you know the right steps to take. You’ll know right away when you run into a cash flow issue. If you’re struggling to pay for your expenses and finding that you’re dipping into your savings, you’re probably hemorrhaging cash faster than is sustainable. When you first start out, you might not turn a major profit as you get set up. But the important thing is to not let yourself get behind in accounting for every dollar that comes in and goes out. Don’t try to outrun your spending. At first, the simple solution to not having enough money coming in is trying

Business Resolutions for 2022

January 11, 2022

By Kimberly Stevens, NPI Inc.’s Marketing Coach As we enter a new year, we look forward to new opportunities. About a quarter of people make a resolution to improve themselves in the new year. However, less than ten percent of those individuals will actually follow through on their goals. Here are some simple resolutions you can make as an entrepreneur to grow yourself and your business! Keep Learning One trait that every successful business owner has in common is that they never stop being a student. You can always find new ways to better yourself and make your business operate more effectively. This year, make it a habit to continue your education. This can be in the form of attending conferences, talking to fellow inspectors, and following news updates. Listening to audiobooks or podcasts is another easy way to get useful information. You can play them all day in your car through your phone! Clean Your Email List Email marketing is a highly effective way to stay in contact with your customers and reach out to new ones. But if you haven’t updated your mailing list in a while, you might not be seeing the results you want. Kickoff 2022

How Energy Audits Can Help You and Your Clients

January 4, 2022

By Jon McCreath, NPI, Inc.’s Technical Supervisor & Training Administrator Add-on services are a great way to upgrade your business. Your customers will feel better protected in their home, and you can add an extra revenue stream. One additional service that can be beneficial to add is energy audits. These audits help the homeowner understand where energy is being “wasted” in their home and how to decrease it. More Homeowners Going Green Preserving the environment and decreasing individual impact are important topics to a majority of homeowners. Close to 70 percent of homebuyers would prefer a greener home, with almost half willing to pay more for one. It’s estimated the average homeowner spends at least $2,000 a year on electricity costs. By lowering each monthly bill by a few dollars, the savings will really start to add up. Within the next few years, the green material market will reach over $360 billion. As more and more younger buyers enter the market, the demand for eco-friendly housing will only increase. Equipment Needed Performing an effective energy audit requires some specific tools. An infrared camera (which you may already have) will help identify any equipment that is inefficient or spot heat loss

Pricing Your Services the Right Way

December 14, 2021

By Kimberly Stevens, NPI, Inc.’s Marketing Coach Finding the right price for the services you provide can be pretty tricky. Set them too high, and your customers will look elsewhere. But price them too low, and you might find it hard to break even. If you’re a new business owner, you might be stuck in a gray area about the best way to set prices. Research is Your Best Friend The best way to figure out what’s a reasonable amount to charge is to check out other businesses near you. Look at their websites and see if they have their pricing listed. You can also look at what other services they add and any deals they offer. Just a little bit of leg work will prove to be valuable as you get up and running. Flat Rate by Square Footage One of the common pricing strategies among inspectors is a set dollar amount based on the property’s size. This system is mainly used for residential properties that aren’t as extensive as larger commercial jobs. You can start at the lowest size you commonly inspect and increase by a certain range to the largest. This helps ensure that you’ll get paid

Why You Shouldn’t Neglect Your Inspection Tools

December 7, 2021

As an inspector, you have a variety of different tools to help you do your job. Drones, electrical outlet testers, gas sniffers, and more all give you the information you need to educate your client. But with so many different pieces, it’s not uncommon for equipment to malfunction. What Can Happen The most obvious answer to what’ll happen if you don’t maintain your equipment is that it simply won’t work correctly, if at all. If this happens to you in the field, you can find yourself stuck in a tight spot. You’ll either have to scramble to replace the broken tool or reschedule the inspection. Perhaps the worst outcome is that you mark a component incorrectly on your report. This can lead you into a wormhole of liability and result in a costly payout and possible lost business. Do Your Research Beforehand To avoid having to constantly repair your equipment, look into the best tools for the job beforehand. There are lots of different brands on the market, and each has their own set of pros and cons. If you belong to an inspector message board, see what others have asked about. Read reviews on the products prior to purchasing

Tips to Streamline Your Report Writing

November 30, 2021

By Jon McCreath, Technical Supervisor & Training Administrator Every small business owner knows that time is one of your most valuable assets. The more time you have and the more effectively you use it, the bigger you can grow. For inspectors, one task that can eat up most of your day is putting together your final report. If you find yourself staying up late into the night to finish reports, you may need to rethink your process. Fast vs. Fine-Tuned First and foremost, it’s important that we differentiate between rushing a report and finding beneficial shortcuts. Remember that as an inspector, your report is your safeguard from liability. A quality report keeps you protected from possible repercussions and maintains your reputation. If you begin to rush through things for the sake of saving a few hours, it can come back to bite you. As a new inspector, it might take a while before you start seeing a difference in your writing time. That’s OK! It’s best to get comfortable first, and then you gradually start smoothing things out. Before the Inspection Saving yourself time on the job starts before you even show up at the inspection. When you book an

How Time Management Can Unlock Your Hidden Potential

January 31, 2023

By Jon McCreath, NPI, Inc.’s Technical Supervisor & Training Administrator Small business owners have a lot on their plate. As a home inspector, for example, owners are frequently one part inspector, one part marketer, one part continuing education instructor, and one part bookkeeper (just to name a few responsibilities). Naturally, it can be easy to feel spread thin at times, with different tasks and projects constantly vying for attention. To survive, small business owners need to learn how to become organized and manage their time well – it’s as simple as that. Still, building your time management capability is a constant process. Reconsider these strategies to improve how you run your business and raise the ceiling of your potential. Why Should You Improve Your Time Management?For some people, the benefits of improved time management are obvious. They might struggle to meet deadlines and frequently double-book their meetings. Still others might feel that they have a system they like in place – they just have too much to do! However advanced your time management skills might be, there is always room for improvement and evaluation. Through a frequent time management “self audit” you have the opportunity to improve your productivity at

Why Veterans Make Amazing Entrepreneurs

January 24, 2023

By Sammi Marcellus, NPI, Inc.’s Recruitment Coordinator Veterans returning home from duty have a lot of opportunities open for them, but it can understandably be difficult to find one’s place after such a big change. As entrepreneurs and business owners, veterans have a long history of success. From Phil Knight at Nike to Gordon Logan at Sport Clips, veterans clearly have the capability to reach remarkable heights in their own business ventures, but it can be difficult to figure out how to start. At National Property Inspections, we have seen first-hand how veterans excel in the field of home inspections. Many of our top producers are veterans, and we love working with new franchisees who have gained the fundamental skills that military training instills. Here are a few reasons why veterans make amazing entrepreneurs and home inspectors. Veterans Are Versatile Whether through serving in a unit or through the foundational training that all military professionals receive, we have seen that veterans possess an amazing level of versatility. As an inspector and a small business owner, our franchisees learn not only the technical skills to inspect a property, but how to market themselves, manage their finances, and even lead a team

Upgrading Your Social Media Marketing With Videos

January 17, 2023

By Stepha Vesper, NPI, Inc.’s Senior Communications Strategist As small business owners, the importance of a strong social media presence cannot be overstated. Now more than ever, videos are dominating the social media marketing space. The types of videos consumers prefer follow a few trends, but their importance has steadily grown. According to social media marketing experts at Wyzowl, 92% of marketers consider video the most important part of their marketing strategy. If videos aren’t currently part of your social media marketing plan, now may be the time to consider incorporating this powerful engagement tool. Why Videos Are So Successful On Social Media There are many reasons why videos have become a priority to marketers, but the main reason is how much engagement videos draw in comparison to graphics, articles, or other types of social media content. With that increased engagement, your posts will see a dramatic growth in their marketing reach as platforms push your posts out to a larger audience. Engagement occurs any time a post receives a like, is shared, or receives a comment. According to Twitter, tweets that include videos attract 10 times the engagement of tweets without them. These findings are unsurprising, as strongly constructed

Email Etiquette: How to Present Your Business Through Email

January 10, 2023

By Stepha Vesper, NPI, Inc.’s Senior Communications Strategist Running a successful small business is all about relationships. In the past, relationships could thrive solely over dinner and phone calls, but the way that professionals communicate is rapidly evolving. Today, business owners must learn how to communicate over email in order to grow and maintain relationships, but sometimes the way to do that isn’t clear. Let’s review some of the latest standards of email etiquette, including how to conduct oneself to reinforce professionalism. Dress Yourself Well In person, it is important to maintain a professional appearance. In some industries that could mean a suit and tie, whereas in others that might mean wearing a well-groomed uniform. In the same way, business owners need to have a good email appearance that conveys that same sense of professionalism. Especially when emailing a prospective client or an unfamiliar potential partner for the first time, the email address is the first impression. Use an address that contains your business name, and ideally one that does not use public-use domains. For example, every National Property Inspections franchisee receives their own npiinspect.com email. An email that conveys a direct association with a business rather than something too

Developing An Inspection Process That Works For You

January 3, 2023

By Jon McCreath, NPI, Inc.’s Technical Supervisor & Training Administrator Every successful entrepreneur finds a process that works for them. Certainly they take note of the proven strategies that work in their industry, and they adjust their approach when they come across new ideas. For someone just starting out in their industry, this also means plenty of trial and error. While you develop your own routine for running your business, one of the best habits you can work to gain is becoming organized. There is a wealth of information out there for how to do this as a small business owner, or even as a person in general. For example, keeping a to-do list, removing unnecessary clutter in your workplace, and keeping a strict schedule all work wonders to increase a sense of accomplishment throughout your day. However, anyone who has worked in the property inspection industry knows that there is a lot to juggle as a home inspector. As we discuss some recommended processes that have proven to work in the inspection industry, remember this disclaimer: Do not be afraid to tweak these strategies to fit your own style! The main takeaway should be to find your routine and

How To Respond To A Frustrated Client

December 27, 2022

By Zach Vesper, NPI, Inc.’s Senior SEO and Marketing Strategist Everyone has been there. Something did not go as planned, and the irritation in your client’s voice is obvious. Maybe you even made an honest mistake at some point in the process. Obviously, nobody is perfect. At some point in your career, you’ll miss a callout, or you’ll simply have to work with someone who behaves unreasonably. Conflict is a natural part of running a business. Though there are plenty of strategies that you could employ to avoid it in the first place, sometimes friction is unavoidable. You’ve found yourself there, and the question is, what do you do now? According to the White House Office of Consumer Affairs, the average disgruntled client shares their experience with 9 to 15 other people, and 13% of dissatisfied people tell more than 20. Addressing frustration is one of the most important things a small business owner needs to learn. Let’s review a few go-to tips to de-escalate frustrated clients, whether in-person or online. Remember To Keep Calm Whenever you encounter a client whose experience did not line up with their expectations, it is important to stay calm. Tensions can easily rise over

The Signs That Say You’re Ready To Be An Entrepreneur

December 20, 2022

By Celeste Black-Harr, NPI, Inc.’s Recruitment Coordinator With every new year, an extraordinary opportunity presents itself. It’s a time to celebrate family and friends, to celebrate successes, and to remember the struggles you have overcome. But it’s also a time to reflect and reevaluate. Is what you are doing fulfilling? Is it what you imagined yourself doing five years ago? There are many reasons why people decide to make a change in their career goals, whether it is dissatisfaction with falling into the status quo or a desire to build something that they can pass on to their family. Big opportunities could be on the horizon! Here are a few signs that 2023 is the year to start your own business. You Want To Take Control A standard position as an employee has its own perks. Safety and consistency are big motivating factors to anyone looking for a new job, and without being “the boss,” there are stressors that employees completely avoid. With that being said, the investment of time and experience that you have built up might not get utilized to its full extent in a standard 9-to-5 position. Entrepreneurs have the freedom to devote their time and energy

How To Finance Your New Inspection Franchise

December 13, 2022

By Celeste Black-Harr, NPI, Inc.’s Recruitment Coordinator Starting a new business is such an exciting and fulfilling venture, but for many people a lack of confidence in their funding strategy can hold them back from achieving their goals. As with all franchises, an inspection franchise requires a level of initial investment to get started, but you don’t need to wait for a wealthy relative’s inheritance. Depending on your background, there are plenty of worthwhile opportunities that you can consider in order to finance your new business and hit the ground running. Disclaimer: This content is meant for informational purposes only and should not be taken as professional legal, tax, investment, or financial advice. This article is intended to cover general circumstances and is not directed to any specific individual. I am not a registered financial advisor. To know what options are best for your particular scenario, seek out a financial advice professional. With that in mind, let’s discuss some financing opportunities for your new inspection franchise. Secured Or Unsecured LoansOne common route that people looking to franchise end up discussing is the standard Secured or Unsecured Loan route. An easy way to separate these two categories of loans is to

How To Invest In Marketing When Things Get Slow

December 6, 2022

By Sydney Bailey, NPI, Inc.’s Director of Marketing Across industries, entrepreneurs will find times in their business when things seem to be going great. There is no shortage in clients or work, and operating their business dominates their attention to the point where marketing can fall down on their list of priorities. This becomes an issue when business, inevitably, slows down. That constant train of phone calls and appointments begins to clear up, and as an ambitious business person, you don’t want to lose out on that hard-earned momentum. So, what do you do? Especially in seasonal industries that are particularly influenced by the ever-changing real estate market, slowing business marks a perfect time to invest your time (and money) in marketing. Make Networking a Priority The best thing you can do when things get slow is get out and meet new people! With each new introduction, you’ll meet a new potential client. With each office you visit, you could start a new long-standing relationship. If you haven’t already, join your local BNI group or any local hotspot for REALTORS® and industry specialists for potential referrals. In short, look for any opportunity to build your business’s contact list. Get connected

Flat vs. Tall: What’s The Best Organizational Structure For Your Small Business?

November 29, 2022

By Michael Trimble, NPI, Inc.’s Content Marketing Coordinator As your small business grows into a not-so-small business, you will have to make new decisions as a business owner. You have hired great people who are helping your business reach new heights, but as your team expands, so do your responsibilities as owner, manager, HR representative, you name it! Before drowning in your expanded duties, consider how you can organize your business to run as effectively as possible. In the business world, the two most popular forms of organizational structures are the Flat structure and the Tall structure. Both have their strengths and their weaknesses, and determining which style is best for you can depend on a number of factors. From your personality and leadership style, to your industry and company size, here we will break down the differences to help you determine what structure is best for you! FlatFlat organization structures might also be called a “Short” organization structure. This style consists of employees all working at (more or less) an equivalent level in regards to decision-making, idea-sharing, and total investment in the company, all reporting to the owner. You could imagine this sort of structure as two-tiered, with the