We’re in the first full week of the New Year — it’s time to buckle down and get back to work, putting all your plans for 2019 into action. But without some vital pieces of information, you won’t see a true picture of where you’ve been and how to get where you want to be.
Happy New Year! Although I typically don’t make New Year’s resolutions, I want you to make some; these are all guaranteed to make your life better by improving your remodeling business and by making your financials for December more accurate. AND, even better, the numbers you enter for your Roundtables Spring Focus Packet (due February
After more than 30 years of working with remodelers around the country, I have encountered nearly every problem to confront a remodeling company: the dissolution of long-term partnerships, ineffective marketing tactics, sales systems that don’t produce results, unmotivated production crews, theft from overhead coffers, bankruptcy and terrible accidents on the job. On the other side,
During the recent Remodelers Summit in Minneapolis I gave two presentations on the finer points of WIP – or more specifically what I’ve noticed over years of studying the nuances of this incredibly vital and complicated tool. The majority of the information is relatively straightforward – but a few problems recur in many RA Member’s
You’re probably sitting around thinking “Now that the year’s over what would Judith do with all this information?” Today’s your lucky day because I’ve been thinking the very same thing: after tidying up your Balance Sheet here are useful analysis you can do with year-end information. But FIRST, make sure your Balance Sheet accounts are
I’m just returning from Remodeling Excellence week in Kansas City where I not only facilitated two fantastic Remodelers Advantage Roundtables groups, but I also had several sessions during the week’s capstone event: The Remodelers Summit. As usual, I heard some fascinating stories and learned more about some of the unique challenges Remodelers face. Unfortunately, I also
In the first two days of August I had on-line meetings with four clients all in a panic because gross profit margin for the first six months of the year varied widely – from -55% to +104%. And they should be panicked – how can you trust your numbers with that kind of variance? You
This is a loop: happy employees create happy clients who create good profits. Say it to yourself every morning and work consistently to create the company culture to challenge, engage and reward employees. You and they will be pleased with the results. Years ago I worked with a company owner who insisted that a continued
You do want to know your gross margin every month in 2016 – right? That’s a critical metric to watch as it defines your sales success and production efficiency: raise your rates and your margin goes up, increase labor productivity and margin goes up. Good stuff! Now, IF you want the very most accurate gross
Understanding indirect expenses will greatly benefit your remodeling business. By pretending they don’t matter, you’re jeopardizing your remodeling company’s fiscal health. Last week one of my very favorite people (yes you, that’s right YOU!) and I agreed to ‘argue’ about Indirect Expenses. This is so important to me (and to you!) that I dropped everything
