FXL - Field Service Excellence

𝗪𝗔𝗧𝗖𝗛 𝗢𝗨𝗧 𝗙𝗢𝗥 𝗢𝗨𝗥 𝗟𝗔𝗧𝗘𝗦𝗧 𝗙𝗜𝗘𝗟𝗗 𝗡𝗢𝗧𝗘𝗦 𝗘𝗣𝗜𝗦𝗢𝗗𝗘 👀 Global Director for Client Success Mitch Galutera and Client Success Consultant Dee Pasamonte are back from the CFESA Region 2 Meeting, and they’re ready to share their insights again on what’s currently impacting the Commercial Kitchen industry. Tune in to see Mitch and Dee’s key takeaways from the meet, and how you can apply them to your organization. 🗓️ August 27, 2024 🕒 8:30 AM EST See you there!

One key to successful post-acquisition integration? 💡 Consistent, competency-driven meetings with subject matter experts. These monthly meetings, particularly at the local add-on portfolio company level, drive the adoption of new tools. Despite early challenges with implementing advanced features like membership management, seeing peer organizations succeed creates healthy competition. This peer-driven momentum pushes teams to embrace functionality, moving the needle on key performance indicators across the enterprise. Watch the full episode here for the full discussion: https://lnkd.in/gc6qWtzN

Change management is more than just a process. It's about guiding people through a transformation. 🔄 Drawing from Lewin's three stages of change—unfreeze, transition, and freeze—communicating the need for change helps create a compelling future state. But remember, change isn't just about strategy; it's about people, too. Change takes time, empathy, and clear communication—allow time for the "grieving stage" by supporting individuals as they let go of the old and embrace the new. Watch the full episode here ➡ https://lnkd.in/gN8YnTk9

Investing in Organizational Change Management (OCM) is crucial for successful system implementation, yet often underestimated. A study noted that 89% of CEOs would have invested more in OCM for better acceptance and application of new processes. OCM helps understand the pulse of the entire organization, from leadership to individual performers, allowing for an easier transitional period. See how Robert Sheesley of the Wrench Group implemented this in the past ➡ https://lnkd.in/gc6qWtzN

For those navigating M&A in the field service industry, preserving the autonomy of acquired companies while driving growth is key during the integration stage. This approach emphasizes the importance of not disrupting the unique strengths that have driven a company's success. By managing shared services like HR, marketing, F&A, and IT, businesses can focus on what they do best—serving their customers. This strategy can help maintain momentum and accelerate growth without compromising the core elements that made them successful. Watch the full episode for the full discussion: https://lnkd.in/gc6qWtzN

How do you drive value and demand in the Home Services vertical? Through speed. 🚀🔧 In this case, urgency trumps cost. Just like Pizza Hut's 30-minute delivery, when faced with a plumbing emergency, you're not focused on price. It's all about who can arrive the fastest. This reflects an "Uber mentality" in the market, where customers are willing to pay surge pricing for immediate service. After all, you can canvass all you like when you're doing a casual bathroom remodel—not so much in an emergency flood. Watch the full discussion here ➡ https://lnkd.in/ghDXKyPM

Effective change management is the foundation of successful M&A integration—it lays the groundwork for a smooth transition. 🌐🔄 This key insight is something we explored with Robert Sheesley, CIO of the Wrench Group. In this new episode, he emphasizes the importance of a "do no harm" approach during integration, which ensures what made the acquired company successful remains intact. And organizational change management plays a pivotal role in achieving this. It not only provides the acquired company with the support needed to focus on its core strengths, but also enables lasting change through ongoing communication, clear metrics, and initiatives that engage the new team. Watch the full episode here ➡ https://lnkd.in/gXTepwE7 ___ For everything M&A in the Trades, follow us on other platforms so you don't miss out: Youtube ▶ https://lnkd.in/gasAXUZe Spotify ▶ https://lnkd.in/gjEpM_Nf

The Home Services is highly fragmented (sometimes to the city level), and as a result, can drive a ton of revenue into their area. Expanding service offerings to homeowners through a single platform, then, is a powerful strategy. The future might see roofing, landscaping, siding, janitorial, and window services integrating into comprehensive solutions—imagine telling a homeowner, "We can do your windows, take care of your landscaping, and do your roof," all in one conversation. The fragmented residential space holds immense opportunity for companies to merge and deliver aggregated value to homeowners. Check out the full discussion here ➡ https://lnkd.in/ghDXKyPM

Home improvement may be one of the biggest spending categories in Home Services, but it's projected to take a downturn. Why? As it turns out, the pandemic brought a surge in home improvement as people sought to enhance their living spaces. Now that they've upgraded, there's little that can be done to improve their homes further, lessening spending in this category. Home improvement businesses can take this downtime as an opportunity to take a step back and look at what other offerings they can provide inside the home to drive sales synergies. In these downturns, it's crucial to streamline operations and bring the right talent to navigate the new normal. Watch the full discussion here ➡ https://lnkd.in/ghDXKyPM

What drives the Home Services industry? 🤔 As home prices rise globally and interest rates climb, the financial burden on households increases. Now, it's common for two primary breadwinners to work just to meet mortgage payments. This shift drives more people to outsource tasks they once did themselves. From roofing to landscaping, and even tech setup with IoT and networking, the demand for professional services is growing rapidly. Explore how these changes are shaping the industry in the full episode ➡ https://lnkd.in/ghDXKyPM