Build Your Own For Growth

In past economies, companies would optimize their business between price and what they offered, either in service or the product.?The majority of businesses were somewhere in the middle, not competitive at all.?

But times have changed. Understatement of the year! Today, not only do businesses need to be competitive with what they offer to their customers to stay afloat, but they also need to be creative and competitive to keep and attract talent.

For industries, that would be viewed as a “commodity service;” for example: accounting, dentists, construction, HVAC, and plumbing. It can be difficult to be competitive when you don’t serve the mass market, don’t offer a service or product in a specialized niche, and don’t have limited competitors because there is a low entry barrier.?Theorists would say players in the “middle of the road offering” find it difficult to be competitive.

But not Peterman Brothers, a 2nd generation family business serving heating, cooling, plumbing & electrical customer needs in Indianapolis, IN.?Their secret sauce has been a recipe for success. So successful, they were listed on IBJs 2021 Fastest Growing Private Companies in Indiana, growing 88% from 2018 to 2020.?Listed as 2021 Bryant Dealer of the Year, they have an A+ rating with the BBB, and are Angie List’s Super Service Award Winners.

So, what attributes to this great success?

The first and most important ingredient has been “growing our people and putting a focus on their growth vs. company growth,” says Chad Peterman, President.?These people-focused programs “are helping our people grow into better versions of themselves.?Plus, because we take care of them, they are naturally taking care of our customers.”?

When you talk to most companies, they quite candidly declare that they are struggling for talent.?As one business owner told me, he “can’t find anyone that wants to lift a 2x4” and he is having to teach the basics like “how to dig a hole.”

Many companies search for talent that is already skilled – and these companies struggle.?That is exactly where Peterman was before 2020.?Then they shifted their focus to finding good people from any walk of life and then train them on the trade skills through their Peterman Top Tech Academy.?Every semester the company receives over 900 applications.?Currently they have a class of 17 that is only one month away from graduating - and the next class starts in April with 30 students enrolled.?They pay the students to learn during the 6-month program wherein they are taught how to be an HVAC or Plumbing technician. Upon graduation, these students go on to work for the company while furthering their certifications and state licensing requirements. It’s a win-win!

When asked about their fast growth and the biggest lesson learned, Chad shared that when you have skilled people in sales and marketing it’s great to run fast.?However, you cannot efficiently scale with the fast growth if all facets of the supporting organization are not prepared with you - like your call center, accounting, and dispatch.?You have to create the processes and systems to grow along with your business.

Here is another top tip from Chad he wanted to pass onto other business owners regarding your Vision.?

Get really clear on where you want to go, make it compelling, get it out of your head, write it down, describe what your company looks like 3 years from now and show your team what’s in it for them. – Chad Peterman

A few additional tips from Chad:

1. Organizing principle: “I wake up at 3AM when it’s peaceful, journal and read to my children. This gets my day started off on the right foot.”
2. Top work habit: “I send out 4 thank you notes every morning – goal of 1000 a year.”
3. Tool you can’t live without: A Remarkable notebook.
4. Rest: 6 Hours
5. Coping tactic when you aren’t feeling your best: “Smile and write down or think about how grateful I am.?The blessings make the small things small.”

To learn more about Peterman Brothers click here .