Basic Accounting: How much profit did your business make?

Posted by:

How much money did your contracting business make?

Let’s say a company grosses $1,000,000 per year. After paying all the expenses to cover the costs of the work performed, and the expenses to keep the lights on in the office and such, there is just enough left over that the owner, who does sales and runs the business full-time, can draw $100,000 in salary.

What’s the profit?

Too many people say 10%. Yes, $100,000/$1,000,000 is 10%. If the owner played golf all ...

Continue Reading →
0

Who runs your business? You? Or “the program”?

Posted by:

At the Helm, N.C. WyethTo say the least, things look pretty volatile on the federal front. Volatile? How about crazy? Dysfunctional? In any event, it doesn’t seem prudent to be optimistic that we’ll have much in the way of coherent federal energy policy that supports the most cost effective resource–efficiency. Tax credits? Don’t hold your breath!

The good news is the bigger activity ...

Continue Reading →
1

A “sales coordinator” is the foundation of a strong sales program

Posted by:

425-gc-2008-mikeLeads are very important—indeed the lifeblood of sales and ultimately revenue. And yet, too often home improvement contractors don’t treat leads as the valuable assets they are.

A few contractors I’ve worked with over the past month had what I see as a common pitfall in contracting companies, especially companies large enough to have a full-time sales advisor. Namely, each ...

Continue Reading →
1

Energy-Efficiency Program Folks: Do You Understand the Numbers that Drive a Contractor’s Business?

Posted by:

raft of the medusaWhy is recruiting contractors to participate in energy-efficiency programs often such a challenge?

Part of the reason is that too often programs are designed and implemented without enough attention to the numbers, in dollars and cents, that drive a successful contracting business. If the numbers don’t work, the business doesn’t work. If the program risks making the numbers not work, ...

Continue Reading →
2

In Honor of Dr. Martin Luther King, Jr.

Posted by:

king_splash2“Injustice anywhere is a threat to justice everywhere. We are caught in an inescapable network of mutuality, tied in a single garment of destiny. Whatever affects one directly, affects all indirectly.”

—MLK from ‘Letter from Birmingham, Alabama Jail’, April 16, 1963

I hope you’ll find a way to lift someone up. Someone you pass in the street. A customer. A co-worker. We’re all ...

Continue Reading →
0

Quality, Standards, and…Sales Management

Posted by:

Roadmap - Northwestern VermontI’ve had the privilege of working quite a bit with John Tooley over the past couple of years. If you’ve attended one of John’s training sessions, there is a good chance you’ve heard him talk about quality, and standards as a key foundational element of quality.

Now, I suspect that most people in our industry think of ...

Continue Reading →
0

Selling home performance? Start with what they already know.

Posted by:

“High-Performance HVAC”, “ACH50”, and the latest digital manometer are cool at a home performance conference. For most people, including most of our customers, though, these concepts are a bit too far removed from their experiences and understanding. Too many in the industry jump to the building science end without starting from something more familiar to the layperson whom we hope will buy it. And that is a huge mistake. How can we translate the great but unrecognized value of ...
Continue Reading →
0

4 Traps to Avoid in Selling Home Performance

Posted by:

You want the sale. We all want the sale! Maybe you’re very hungry to post some numbers or push to hit the plan. That’s OK. But don’t let that get in the way of good approaches. It’s easier to stick with a good process when you’ve got ample leads, a solid pipeline, and you’re been hitting the numbers. So, try to stay ahead and…use effective lead generation, maintain your pipeline, and stay on top of your plan and what ...
Continue Reading →
0

What you’re missing in the furnace (or windows or solar or…) call

Posted by:

missed opportunityIncreasingly contractors are sensing the tremendous opportunity to add a broader array of “home performance” services to their business. Gearing up to deliver is an investment in training, equipment, and processes that might easily run $100,000 of initial investment if one fully accounts for the time and effort. Once they’re ready to go something all too frequently happens. Silence. A common ...
Continue Reading →
0

Women athletes, the Olympics, and how to crush the competition in your contracting business

Posted by:

For those keeping score by country, the U.S. crushed the competition in Rio with 121 medals. China was second with 70, Britain third with 67. They wouldn’t have done it without the women (61 medals), who earned more than the men (60).

There are some important lessons for contractors here.

First, by supporting women, women can thrive. The U.S. supports women athletes at all levels better than anyone else.

What if we did that in the business world, too? What if we helped ...

Continue Reading →
1
Page 4 of 24 «...23456...»