PSI’s Annual Summit Stresses Success

Plumbers’ Success International put the emphasis on “success” as it convened its annual Summit in Tampa, Fla., May 14-18. The intensive educational program dealt with many topics, from pricing to Web site design to making more money to planning exit strategies.

The ups and downs of owning and exiting a business was discussed by Jim Abrams, co-founder of venture capital firm VenVest and HVAC consolidator Service Experts. He also touched on how business owners can make money everyday by planning for the future.

“Measuring success can only be accomplished by measuring against goals,” he said.

His tips include:

Use a road map — stay away from short cuts.
You can manage yourself, your people and your money – the rest of the world is not in your control.
Use resources wisely, including your employees, but make the tough decisions when you have to.
Invest in the future.
Don't be afraid to take risks.

Mike Diamond, PSI chief executive officer and Los Angeles-based plumber, discussed the “magic” of money growth. “The No. 1 reason contractors don’t get paid is they don’t ask,” he said.

He stressed the fact that contractors must accept credit cards and provide financing to today’s consumers or they are letting money slip through their hands.

Terry Nicholson, PSI president, talked about the Profit Zone mindset and the danger zones to making a profit in a business.

Several PSI members were recognized for being featured in the trade press. Representatives from each company were presented with a framed plaque of their articles. Mike Bachman Plumbing of Ogden, Utah; Loranger and Sons Inc. of Pompton Lakes, N.J.; and Carter Service Co. of Greenwood, Ind., were honored for their appearance in Plumbing & Mechanical’s Best Looking Truck Contest (July 2001).

Also honored was Brooklyn, N.Y.-based J. Caiazzo Plumbing & Heating. The company was the focus of an article that appeared in the winter edition of The Successful Contractor Magazine describing their rescue of a victim of the World Trade Center collapse. (To read this article, see "Plumbers To The Rescue At The WTC.")

Kelly Faloon was a former editor of Plumbing & Mechanical as well as the BNP Media Plumbing Group’s Integrated Content Development Specialist. She also was a former editor of the Radiant Comfort Guide the Radiant & Hydronics Report — both official publications of the Radiant Professionals Alliance — and twice-monthly Radiant & Hydronics eNews, an enewsletter for anyone interested in the world of heating with hot water.

Her editorial specialties included women in plumbing, recruiting for the trades, green construction techniques, water conservation, water treatment, hydronic heating, radiant heating and cooling, snow melt, solar thermal and geothermal.

After a 3½-year stint at sister publication Supply House Times, Faloon joined the PM staff in December 2001 as senior editor. She was named PM’s managing editor in 2006 and editor in 2013.

Previously, she spent nearly 10 years at CCH, a publishing firm specializing in business and tax law, where she wore many hats — proofreader, writer/editor for a daily tax publication, and Internal Revenue Code editor.

A native of Michigan’s northern Lower Peninsula, Faloon is a 1986 journalism graduate of Michigan State University.