Cash flow issues can be very challenging to manage. They can show up unexpectedly. They can come on very quickly. They can distract the business owner from the important work he or she should be doing. They can disrupt the ability of the company to get a project done. And in their most severe form,
Well, how could that be? If you have more bills to pay than money to pay them, isn’t that a cash flow problem? My guess is that if you are a business owner who has ever faced that situation at any point in your career, you would most definitely have considered it a problem. In
It is that time of year again. The trick-or-treating is over, you set your clocks back, the leaves are changing colors and holiday travel plans are being made. Then you read blog posts and articles reminding you that it’s time to put together your budget for the coming year. Are you excited, indifferent or frustrated?
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,
In our last throw-back episode of the season, we take a closer look at Slippage and how it can destroy the profit margin your team works so hard to obtain. In order to keep it from becoming a recurring problem, we cover how to perform a “Job Autopsy” or a break-down of where things went
We talk with prospective members of Remodelers Advantage Roundtables just about every day, from all over the US and Canada… and a common theme in every conversation is the owner’s overwhelming feeling that they are “on their own” when it comes to figuring out how to succeed in this industry of ours. Clearly, we would
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
This week’s throw-back episode goes back to 2015, but the topic remains a top discussion point at almost all Roundtables Meetings here at Remodelers Advantage. According to a recent article in Fortune Magazine, “60% of contractors reported difficulty finding skilled workers in the third quarter of 2017 due to an ongoing skilled labor shortage…” and
On Tuesday our PowerTips post covered some great ways to increase your company’s valuation if you are eventually going to sell your business. So we figured we would stick with that same line of thought as today’s PTTV Throw-back talks about Succession Planning, or how to plan for your sudden or eventual departure from your
Recently there’s been much discussion among our members about selling their remodeling business, or perhaps handing the business over to a 2nd or 3rd generation family member. These discussions are typically driven by a company’s founder or current owner who is nearing retirement age and wants to take advantage of the value they’ve built up
