Always be Looking for Way to Diversify and Differentiate

RCS Influencer Trent Cotney says that every business should be ready to diversify their product offerings to meet the needs of the marketplace.

The ever-changing consumer demands and markets require businesses to adapt by diversifying their business products in order to stay competitive within the industry. With this thought in mind, I wanted to share with you what we are doing at Cotney Construction Law to diversify our business.  I would recommend that every roofing contractor look at what they are doing with their product offerings and be ready to step up and make a change. 

We decided to offer a new approach to legal protection. As I am sure you do, with your roofing company, we believe clients should have legal options that fit their business. There are circumstances where the traditional method of providing legal services through the billable hour/retainer method is not well-suited to meet the clients’ needs. That is why we are diversifying our business products and markets by offering subscription services that are designed specifically to meet the needs of the construction industry.

A company can diversify in several ways such as adding a new market segment or selling new products or services. For example, a roofing contractor might add a new line of roofing shingles such as slate, tile and metal, or may introduce additional products and services such as gutters, siding, painting, or year-round maintenance. Here at Cotney Construction Law, we have decided to diversify our business by offering a range of legal services that are packaged together to be the most cost-effective for our clients.

These subscription plans provide savings, accessibility, and protection. A subscription allows you to budget monthly for legal services at a fixed rate. This means that your cash flow will be preserved by eliminating unexpected and costly legal bills. You will also be able to take advantage of the accessibility to our on-demand attorneys. With a subscription plan in place, legal representation is available to you and your team whenever you need it without the nickel-and-diming. This setup will also allow you to be proactive in protecting your business and be better prepared in case a dispute arises. One of the most valuable benefits is giving you more time to focus on growing your business. Typically, after a dispute reaches the litigation stage, our clients will end up spending hundreds of hours throughout this process to reach a resolution. Wouldn’t you rather spend more time on growing your business?

In looking at your roofing service offerings, it is important that you are offering what the customers need and sometimes what they don’t even know they need.  That is what has occurred at CCL as we have worked with roofing contractors over the years.  Legal is something most contractors do not want to deal with and really do not know what they need.  That is why services that come with every subscription plan include access to an attorney on-demand with unlimited phone calls. Contractors will also have the option of unlimited written demand letters as well as an unlimited amount of contract reviews for non-dispute matters. Depending on which subscription you sign up for, some of the other services that we provide are unlimited lien and bond claims; unlimited document drafting for non-disputes; unlimited safety and employee manual drafting, reviews and updates; and defense against OSHA citations. As an added benefit to subscribing to the plan, clients will receive member discounts on standard rates for more complicated issues.

Just like some of your customers who do not think they need maintenance programs or early inspections, some roofing businesses are completely against the idea of paying an attorney on a monthly basis because they think that they do not need an attorney that often and would thus be wasting money. However, the services and benefits that come along with the subscription plan (just like a service and maintenance program) are cost effective and will save contractors money in the long run. By looking at diversifying your company not just with new types of roofing but also looking at the model and what might help your customers, you will be making changes that not only help your customer but differentiate you from the competition.

Trent Cotney is the founder of Cotney Construction Law, a law firm that specializes in roofing and construction law. See his full bio here.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.