Fixing the “Big 5” Financials in Your Residential Service Business

Fixing the “Big 5” Financials in Your Residential Service Business

If you’re relying on your monthly and annual financial statements to tell you how your business is doing…you’re on the right track. But you need to start managing the day-to-day operations now. Let’s look at the five most important things to get right in your...
Fixing the “Big 5” Financials in Your Residential Service Business

Residential Contractors 101: Managing Cash Flow

When talking cash flow, I can’t help but think it’s a math equation. That’s why many people don’t do it, because there are many moving pieces to the formula. Why do you need to manage your cash flow? It’s simple really, yet I find a mere one out of 100 contractors...
Fixing the “Big 5” Financials in Your Residential Service Business

How much profit is enough profit?

We are all planning to retire at some point — even those of you just starting out. I was speaking with my mentor, Frank Blau, recently, and he is very concerned the message isn’t getting out to younger contractors. Knowing why you started your own business and...
Fixing the “Big 5” Financials in Your Residential Service Business

Residential Contractors: What’s Your Number?

The “right price” doesn’t mean you have a magical number floating around that you should be using to sell your services. The “right price” does mean that for your business, there is a right price that is based on specific financial assumptions to help you achieve...
Fixing the “Big 5” Financials in Your Residential Service Business

New Year – Same PHCE Business Strategy – How to Get Sustainable Growth

Go on. Look at that! You’ve made it to 2014. No matter how you operated in 2013, your sales probably were good. So for the coming year, you’d be right again, if you don’t change anything, your sales will probably be good again. But sustainable growth doesn’t come...