Finance & Succession Planning

Stupid Mistakes Contractors Make In The Fall - Part 3

Ruth King concludes the Stupid Mistakes Series with this final installment, Don’t Make These Mistakes This Fall

Originally published Published: 08.18.22 Author By Ruth King

Stupid Things HVACR Contractors Do in the Summer

Protect your profitability and cash – don’t do stupid things.

Originally published Published: 05.04.22 Author By Ruth King

Calculating HVAC Maintenance Price Plans for Two or More Systems

When pricing maintenance plans for additional home heating and cooling systems, you should know as a business owner, it is not merely about cutting your maintenance price for the first …

Originally published Published: 04.01.22 Author By Ruth King

Pricing Maintenance Agreements – Know Your Profit Bottomline

The goal on performing maintenance should be to net a profit, but at the very least you should never lose money. Contractors often have the misconception that you can lose …

Originally published Published: 03.01.22 Author By Ruth King

Pricing Using Net Profit Per Hour Gives You Ultimate Flexibility

Pricing Using Net Profit Per Hour Gives You Ultimate Flexibility

Originally published Published: 01.29.22 Author By Ruth King

Two Things You Absolutely Must Have in 2022

Two Things You Absolutely Must Have in 2022

Originally published Published: 01.04.22 Author By Ruth King

One of the Greatest Arguments Among Managers

Unless you have a year-end that is not Dec. 31st, it is time to budget for 2022.

Originally published Published: 12.09.21 Author By Ruth King

What Has to Happen for You to Pay Attention?

Accounting theft, the tale of two contractors who had employees embezzle thousands of dollars.

Originally published Published: 11.08.21 Author By Ruth King

Identifying The Gap

Many business owners think they have an accurate idea about the value of their business. Owners may be surprised to find that “the gap” between the current value of their …

Originally published Published: 11.01.21 Author By Keven Prather

What is Your Moonlighting Policy?

I had a different employee fix the customer’s system and fired the employee for moonlighting.

Originally published Published: 10.02.21 Author By Ruth King

One Easy Way Your Technicians Can Steal from You

Get a weekly cash flow report and the aged receivables and aged payables reports to back up the report. Look at the aging reports and see if things don’t look …

Originally published Published: 08.31.21 Author By Ruth King

Keep Your Employees from Stealing this Summer

Don’t let policies you enforce during slow times get ignored when you’re busy.

Originally published Published: 07.02.21 Author By Ruth King

Rethink Cash Flow

As much as we don’t want to admit it, cash flow is the lifeblood of a company.

Originally published Published: 07.02.21 Author By Keven Prather

7 Places to Look if Your Gross Margins are not Consistent

A consistent gross margin means that your profit and loss (P&L) statement is probably accurate (unless you discover overhead mistakes).

Originally published Published: 06.07.21 Author By Ruth King

How Much Cash is Enough Cash?

Save the amount of cash that is comfortable for you. Get in the habit of putting money in savings accounts.

Originally published Published: 05.11.21 Author By Ruth King

Cash, Profits or Profitability — Which is Most Important?

Continuous profits, turned into continuous cash, give your company the best chance for survival and building wealth.

Originally published Published: 04.01.21 Author By Ruth King

Wealth Rule No. 10: Have an Increasing Current Ratio

Your company’s current ratio should be monitored monthly. It should always be greater than one. It should be constant or trending upward.

Originally published Published: 03.08.21 Author By Ruth King

Wealth Rule No. 9: Have a Sound Debt Policy

A good debt policy looks at your receivable days and your debt percentages.

Originally published Published: 02.09.21 Author By Ruth King

Wealth Rule No. 8: Have a Sound Inventory Policy

Inventory tracking is key to a sound cash policy. You don’t want to spend cash you don’t need to spend.

Originally published Published: 01.08.21 Author By Ruth King

Wealth Rule No. 7: Have a Sound Collection Policy

Sales count. Profits count. But they’re worthless if you don’t collect the money those sales and profits generated.

Originally published Published: 12.09.20 Author By Ruth King

Wealth Rule No. 6: Save Cash

Every bank deposit should have one percent of the deposit amount transferred to a savings account.

Originally published Published: 11.06.20 Author By Ruth King

When You Love Your Business, But Hate Numbers

To be successful as a business leader, you have to have a grasp of the basics.

Originally published Published: 11.06.20 Author By Shane Rau

Wealth Rule No. 5: Monitor Your Cash

Cash is the lifeblood of your company. You should watch it every day.

Originally published Published: 10.08.20 Author By Ruth King

Wealth Rule No. 4: Build a Great Culture

If your company has a great reputation, then people will want to work there and want to stay there.

Originally published Published: 09.01.20 Author By Ruth King

Beware the PPP Loan!

Make sure you understand the impact of Paycheck Protection Program loans.

Originally published Published: 08.10.20 Author By Ruth King

Monitor Profitability and Cash

You need to create your updated P&L to show at least a few dollars of profit at the end of the year.

Originally published Published: 07.09.20 Author By Ruth King

The Wealth-Building Potential of a Powerful Personal Brand

Self-made billionaires almost universally have well-established and powerful personal brands that they use opportunistically to generate even greater success.

Originally published Published: 06.08.20 Author By Keven Prather

Learn 5 Ways to Generate Cash Now by Ruth King

Many people are home, and want to get their systems ready for summer now.

Originally published Published: 05.01.20 Author By Ruth King

Learn how to safeguard your wealth with these tips.

Exploiters are professionals who recommend aggressive variations of financial solutions and strategies.

Originally published Published: 05.01.20 Author By Keven Prather

Profit Law No. 3 - Build your maintenance program here.

A maintenance program can help your company in the long haul. Learn more in this valuable article from HVACR Business Magazine.

Originally published Published: 04.01.20 Author By Ruth King

With Success Comes Enemies

With success come enemies, so get comfortable with others resenting you or viewing you negatively.

Originally published Published: 04.01.20 Author By Keven Prather

Ruth King -Separate Business Expenses from Personal Expenses

You can enjoy the fruits of your labor. Just don’t do it to the detriment of your company.

Originally published Published: 03.01.20 Author By Ruth King

Wills and Trusts: The Foundations of Your Rock-Solid Estate Plan-HVACR

As with any decision, there are both positives and negatives to a will. The benefits of writing a will far outweigh the drawbacks.

Originally published Published: 03.01.20 Author By Keven Prather