The Payroll vs. Profit Percentage of Revenue Spent on Payroll Calculation is one to keep at your fingertips. As of May 2022, the benchmark for Roofing companies with gross revenues between $1M to $5M are 12%. Payroll and outsourced labor are a major cost to maintain control of to keep your net profit above the […]
1. Focus on selling your most profitable servicesWhen you know the profit margin of each product or service that you are selling then you will know which is the most profitable, and you can spend more resources promoting that item.2. Trim unnecessary costsRunaway costs are the most common reason for money leaks in a business. To […]
Consistent improvements to make your construction business function better are crucial for its sustainability and success. Unfortunately, no matter what adjustments you’ve done for your business, you can’t always ensure that your business will run efficiently.Efficiency is what makes your business profitable. If there are instances that your business doesn’t make money and costs you […]
Have you thought about your business credit or how it may affect your company’s growth? In a lot of ways, business credit is similar to personal credit. You need strong personal credit to buy a house, get a loan, or apply for a credit card. A strong business credit file may improve your company’s chances […]
Cash flow is one of the most common struggles for businesses. Cash flow is the lifeblood of everybusiness!I remember when I struggled to get started.Barely scraping by and able to make the bills.I kept going! I built a small amount of debt to get it done!I took a chance on me! With everything risked, I […]
Medium and small sized companies need to assess and adjust their cash-management strategy to meetthe challenges of this post-pandemic time in business. CEOs and CFOs should have better visibility andgreater clarity on their expected cash flow and borrowing capacity.Those with a plan to increase liquidity for working capital will be more successful when lock-downs endand […]
How to Adapt Your Business to Market Changes in 5 Easy Ways There is so much ingenuity coming from business owners, it’s amazing to see how resilient andcrafty the small business community is.Innovation is critical especially in industries who are hit hard with economic struggles.We as small business owners have to adjust our services and […]
My best clients are using the steps below to experience massive breakthroughs in their business’s!What did they do?1. Developed the Right MindsetNothing (and I mean nothing) is more critical to success than mindset. Because your belief, or lackthereof, in yourself and what you’re doing sets the stage.As my best clients work with meThey stopped seeing […]
Each of us has been experiencing our own individual form of shifts in our mindsets over the past few months. We have felt, scared, defeated, worried, hopeless, and at times, angry. These feelings are negative and come from that place of fear down deep in our souls that erode our faith, beliefs, and happiness. Do […]
When changes occur in a daily ongoing business, adjusting for the changes needs to be done. As a business owner, you should know how the change made affects your cash. How big of an impact will the change make? Will I have enough money to make payroll? Will I be able to cover the rent […]