After stints in the tech world and venture capital, John Todd began looking for a growth opportunity with “a business model that was differentiated and could be replicated.” He found those criteria in a remodeling company with a promising showroom concept.
“There was nothing in the area like this,” says Todd, who bought the business and rebranded it Elite Remodeling. “I knew a series of showrooms would be a great opportunity.”
Though the economic downturn set growth plans back, Todd wants to expand the concept, starting with a highly qualified team carrying a multitude of industry designations.
—Todd, a former army officer, says that his staff would probably call him a taskmaster. He requires all new hires to take a DISC personality-profile assessment and he shares the results with the team to ensure effective collaboration.
—All of Elite Remodeling’s business loans and startup capital will be repaid by the end of 2011, leaving the company debt-free.
—Todd regularly meets with his direct competitors for a breakfast meeting in which, he says, “we talk about every business issue except dollars and margins. Yes, we compete, but I don’t mind. If I’m going to lose a job, I want it to be to one of them.”
—Every Elite Remodeling job is reviewed each Monday to determine where the project stands on construction, cash flow, client satisfaction, and gross margin. Post-mortems are also conducted after each job has closed.