Documentation is more than just a task on your to-do list; it’s the backbone of any successful business as a contractor.
During our recent webinar, we had the pleasure of hosting Warren Wilgus from All-Star Public Adjusters, who shared invaluable insights into how documentation can make or break the success of not just a potential insurance claim but your overall business on various levels.
Want to learn how and why documentation can directly affect your profit margins and client satisfaction?
Let’s dive into some highlights from Warren that can help your business in a big way.
The Essence of Documentation
Documentation is not just a task; it’s a powerful tool that can boost your profit margins and reduce overhead costs.
Warren highlighted a simple truth: documentation can significantly impact your profit margins and overhead costs. From those CYA moments to ensuring you’re covered when things go awry, the right photo can be worth thousands in savings or additional revenue.
Need proof?
Consider a real-life example: Warren shared a compelling story where a single photo, a piece of documentation, made almost a $900 difference on a single job. This is the power of documentation in action.
“I found one picture that made the difference of $862 on that particular file,” he said. “One picture. One photo meant just under $1,000 in savings. Amazing. It can affect your bottom line.”
There is no doubt that there are enormous financial implications for diligent documentation practices.
It Is Everyone’s Responsibility
One key takeaway from our discussion with Warren was that documentation is not solely the business owner’s responsibility.
It is a collective effort that spans across the entire company. From sales teams using photos to showcase previous projects to project managers ensuring that every aspect of the job is captured, a culture of thorough documentation can safeguard your business and significantly enhance its profitability.
This fact should motivate us all.
That sounds wonderful, but how do you ensure everyone does their part with documentation?
Motivating your team to prioritize documentation can be achieved through various means, including financial incentives or making it a part of the operational ethos.
The goal is to embed documentation practices deeply within the company culture, ensuring that every team member understands its value and consistently executes it diligently.
Make It Easy To Execute
Warren explained that excellent documentation is rooted in a systematic approach.
It’s vital to streamline your processes with templates to ensure consistency and make it easier for your team to document what you want records of at each project.
It’s not just about taking photos. It’s about taking the right types of photos. Warren’s point is clear: the precision of your documentation is as important as the documentation itself.
“For instance, an overview shot is just as important as your close-up,” Warren says. “If I don’t know where that brick is, and if I’m your crew member, how will I know what needs to be fixed if I don’t have that?:
By being transparent about the documentation procedures you expect, you can create a predictable business that thrives on efficiency and clarity.
Warren’s tips from our webinar this month show how crucial good documentation is for contractors.
Documentation is not just a record of your work; it’s proof of quality. This is especially crucial when insurance is involved. So, start documenting. It’s your shield against future headaches and financial losses.
Remember, a picture is worth a thousand words (sometimes $1,000). Keep documenting your projects, and see how it makes your business stronger and your life a bit easier.
To check out more webinars from CompanyCam, click here.
