Top Ten Success Factors

Please put a check mark by those statements that are true of you and your company.

You generate and understand accurate financial reports.

a. Monthly Profit and Loss -

i. Formatted correctly - owner's compensation in overhead. If any of the owner's pay is in job costs, he/she is assigning time to a particular job and this time is represented in the estimate.

ii. Based on % of completion accounting

b. Monthly Balance Sheet

c. Bi-weekly Job Cost Reports at minimum

i. Consistent sorting of job costs between estimate, budget, P & L and Job Cost Report. The exact same line items should be represented as job costs in all reports - nothing more, nothing less.

--Materials, subs, labor and labor burden are the minimum items that should be represented in job costs.

You have accurate estimating and achieve no more than a 2% variation from actual.

d. Job Autopsies on all jobs outside of these parameters with production staff to identify causes and make adjustments.

You create a yearly budget -monitoring monthly, use as running monthly comparison.

You have developed a pricing structure that covers operating costs and provides a good return on your investment.

You have a clear organizational structure with efficient delegation of responsibilities.

You hold company meetings

f. Weekly meetings between production manager and company owner to review budget, schedule and client satisfaction, resource allocation

g. Monthly production department meetings including

i. Schedule
ii. Training
iii. Motivation
iv. Budgets

h. Key manager meetings weekly

i. Company wide meetings at least semi-yearly.

You have a consistent lead flow - including at least 60% repeat and referrals --with measuring and monitoring of leads

There is a Lead qualification system in place to identify real prospects.

Your Close ratio is 1:5 of all qualified leads-those prospective clients with whom you will invest the time to meet.

The Company is current on all billings and can take advantage of at least some early pay discounts. Cash flow is adequate to cover current expenses.

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Remodelers Advantage Inc.
535 Main Street, Suite 211
Laurel, MD 20707
ofc: 301-490-5620
fax: 301-498-6869
Info@RemodelersAdvantage.com