He founded his company in 1989, and over 30 years later, David Klingenfuss is still running his electrical contracting business.
Having completed thousands of contracting jobs in San Francisco and the Bay Area, Klingenfuss knows what it takes to run a business and to work hard.
Not only did he manage to keep his business afloat during the coronavirus pandemic, but Klingenfuss has been featured in digital news outlets teaching other business owners how to be proactive and keep their businesses running despite the adversities of these times.
So, what makes Klingenfuss successful, and how was he able to run his business for nearly three decades?
Klingenfuss attributes much of his business success to his prioritization of customer service, the way he treats people and the way he communicates with them.
“Always put your customers first because they are the reason you are in business.”
When the pandemic hit, like many business owners, Klingenfuss noticed that the demand for work began to slow down. It was to the extent that Klingenfuss even saw about a 50% drop in business in June.
That’s when he immediately reached out to his long-term customers to drum up new work. His plan worked, and within a couple of months, it was business as usual again for Klingenfuss and his company.
Because Klingenfuss has low overhead his business was able to pull through during the pandemic. He also cut down on spending because he understood that he had to account for the sudden drop in revenue.
He advises new business owners to avoid overspending on their business in the initial stages, to start lean and focus on growth.
Klingenfuss goes on to say, “You need to start small and work your way up. The last thing you want to do is borrow lots of money for vehicles and put yourself in a position of debt.”
One of his recommendations is to start small with marketing as well. Marketing is necessary, but you want to ensure that your efforts are generating results. If you continue to spend on marketing services, you want to ensure that they are producing valuable leads.
Klingenfuss explains, “You need to do the math. Start small with marketing and build your way up. If it costs you more than 25% for leads, then it’s not a good lead source. Build your customer lists and use a company like Constant Contact to send them emails.”
On top of thinking of new marketing tactics to keep his customers engaged, Klingenfuss is constantly thinking about new ways to delight them.
“Success to me is when I do a good job and I know I’ve done a good job when the customer is happy and they give me referrals and good reviews. I was once told to do a good job and the money will follow,” says Klingenfuss.
While Klingenfuss has been in the electrical contracting business for over three decades, and has worked in the industry to some degree since he was a teenager, he says he learns new things all the time.
The pandemic was just one curveball that he experienced throughout his years of work, which is why he was able to deal with the situation and use it to inspire others.
Learn more about David Klingenfuss, get his top tips for contractors and business owners and stay tuned to his latest interviews by visiting his website at: www.davidklingenfuss.com.