PowerTips | The Remodeler's Guide to Business

Posts Tagged profit

Paul Winans: Take Stock to Make More Money

Paul Winans: Take Stock to Make More Money

As we head into a new year, this is always a hectic time for remodeling businesses everywhere. Deadline-driven projects for anxious clients need to be completed. Your subcontractors and vendors are very busy. Many of your employees probably are getting back to work after a long holiday break. Before we get too far into the…

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Posted in: Business Management, Financial Management, PowerTips, PowerTips Articles

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Judith Miller’s Top 4 Accounting Resolutions for 2018

Judith Miller’s Top 4 Accounting Resolutions for 2018

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…

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Posted in: Financial Management, PowerTips, PowerTips Articles

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9 Rapid Response Steps to Handle Cash Flow Issues

9 Rapid Response Steps to Handle Cash Flow Issues

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,…

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Posted in: Business Management, Financial Management, PowerTips, PowerTips Articles

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PowerTips TV Throw-back Thursday: “How a Job Autopsy Can Save Future Profits”

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…

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Posted in: Admin & Human Resources, Business Management, Financial Management, PowerTips, PowerTipsTV, Production

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Crack That WIP – 8 Dangerous Data Entry Errors That You May be Making

Crack That WIP – 8 Dangerous Data Entry Errors That You May be Making

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…

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Posted in: Business Management, Financial Management, PowerTips, PowerTips Articles

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For Sale: 5 Effective Ways to Increase Your Company’s Valuation

For Sale: 5 Effective Ways to Increase Your Company’s Valuation

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…

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Posted in: Business Management, Financial Management, PowerTips, PowerTips Articles

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Job Description Creep: “and All Other Duties Required”

Job Description Creep: “and All Other Duties Required”

The phrase at the end of most job descriptions, “and all other duties as required” is one of the most dangerous expressions a remodeling company can include when looking for your next team member. While it is intended to capture any additional items that are not included in the overall description, it often has very…

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Posted in: Admin & Human Resources, Business Management, PowerTips, PowerTips Articles, Production

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