Why You Need Both Profits and Cash To Survive
I received this question from a reader:Lets say you have a loan you are repaying $10,000 total; $9,000 to principal, and $1,000 to interest. The only thing that shows on your P&L is the interest. The principal is reduced on the balan...
Pulling it All Together: A Good Financial System
Over the past several months, I’ve written about the pieces that comprise a profit and loss statement and balance sheet as well as how to ensure that these financial statements are formatted correctly. A good financial system is based on both the monthly ...
2010 Results: Attitude and Focus Beat the Economic Blues
How did you do in 2010? The past few years have been difficult for many contractors and devastating for many new-construction contractors. However, many contractors I know did very well in 2010 despite the economy and despite all of the bad news in the me...
Set Maintenance Agreement Goals To Cover Overhead
Many contractors have grown their maintenance agreement base to the thousands, even tens of thousands of customers. These companies have discovered that maintenance agreements can cover the entire overhead cost of their company.
3 Ways to Improve Cash Flow
Businesses can improve
profitability in many ways. Some require making substantial investments, such
as buying new equipment to add services or expanding marketing efforts. There
are inexpen...
