Plumbing, heating and air conditioning contractors and service providers from across the U.S. gathered in Savannah, GA last month to attend the Quality Service Contractor’s Power Meeting 2018. Their mission was to learn about ways to future-proof their businesses so they could obtain financial freedom and security.
Over a three-day period, from March 6-8, QSC members were given lessons about building the value of a business by bringing up future leaders, evaluating economic forecasts, facing technology trends and preparing for disasters. Quality Service Contractors is an Enhanced Service Group of the Plumbing-Heating-Cooling Contractors National Association.
Overseeing the conference was QSC chairman Lawrence Snow, who assured members this type of knowledge will secure businesses going forward and give owners more flexibility.
“You want your company to eventually take care of you and give you financial freedom,” he said, “and there are things you can do now, every day, to get the most out of your business later on.”
A key component of acquiring financial freedom is eventually handing things over to a competent leader, which means fostering young talent and imparting certain skills.
“You have to develop and nurture that talent over time,” Snow said.
Being ready for the worst possible circumstances can also help shield your business from strife, according to Snow. Both natural disasters, such as fires and floods, and economic ones, such as market downturns and global events, can affect bottom line.
“It’s too late to figure out your business continuity plan when you need it,” he said. Best to be ready ahead of time to face adversity.
In addition, the conference offered ways to deal with market forces such as new technologies, which can impact the way business is conducted.
“Right now there are many traditional industries and business models that are being severely disrupted and challenged by technology,” Snow said. “We cannot take our eyes off the ball.”
Trustee Board Vote
Elections were held for new QSC trustee board members as part of the event. New members include:
- Dan Callies of Oak Creek Plumbing in Oak Creek, WI, chairman to the board of trustees
- Jeff Heger of Nixco Plumbing, Inc. in Cincinnati, OH, vice-chairman
- Doug Isley of L.E. Isley & Sons, Inc. in Westfield, IN, trustee
- Jeff Longspaugh of ClearWater Plumbers in Fort Worth, TX, trustee
Isley and Longspaugh will serve as trustees over a three-year term.
What’s Coming Next
Members who attended the conference learned with a little bit of predictive knowledge and the right preparation, it’s possible to secure a company’s long-term future. Just be sure to remain up to date with the latest trends and ensure you’re ready for worst-case scenarios.
The next QSC event will be Oct. 10-12 in Albuquerque, NM and is being held in conjunction with PHCC’s CONNECT 2018. This meeting will give members an opportunity to learn more about modern business management along with knowledge and tools that will help them right now.
The PHCC National Association, which was formed in 1883, offers legislative advocacy and training to more than 3,500 plumbing and HVAC businesses along with 70,000 technicians.