Finance & Succession Planning

Try a New Pricing Level, Improve Your Bottom Line

Add your overhead cost per hour and your direct cost per hour. This is the absolute minimum price you must charge your customers.

Originally published Published: 03.01.18 Author By Ruth King

Keep the Honest People Honest

Should you prosecute? It depends on how much hassle you’re willing to put up with during the investigation and court cases.

Originally published Published: 11.01.17 Author By Ruth King

Do You Have a Loyal Bookkeeper? Watch out!

You have the perfect employee: hard working, dedicated and accurate. But do you? Here’s how to spot a red flag.

Originally published Published: 10.03.17 Author By Ruth King

Beware of Sub-Contracted Commercial Work

Bankruptcy court has the right to request return of payments made to vendors.

Originally published Published: 09.01.17 Author By Ruth King

If it Seems Too Good to be True, Then it Probably is

Your interview process must include a background check, especially for the bookkeeper.

Originally published Published: 08.01.17 Author By Ruth King

Nice is Nice, Until it Costs You Big

Be forewarned: the Department of Labor says you have to pay for meeting time and “gab time.”

Originally published Published: 07.05.17 Author By Ruth King

Two Great Ways to Protect Your Money

You shouldn’t be giving your money away, nor should you make it easy for anyone to simply take it.

Originally published Published: 06.01.17 Author By Ruth King

The Sneakiest, Most Ingenious Way to Steal From Your Company

No one thinks to put the numbers you see on your profit and loss statement into an Excel spread sheet to ensure the numbers match. Until now.

Originally published Published: 05.04.17 Author By Ruth King

Why Employees Steal from Your Company

Theft is heart wrenching. You work hard and you never expect people to steal from you. When they do, your first reaction is disbelief, then sadness.

Originally published Published: 04.12.17 Author By Ruth King

Focus on Your Bottom Line!

It’s what you do with that sale once it comes in the door that is more important.

Originally published Published: 03.09.17 Author By Ruth King

What You Should Know About Savings & Investments

Starting to build your wealth early will prepare you for large purchases or business expansion.

Originally published Published: 03.09.17 Author By Stoyan Panayotov

Turn Your First Quarter Losses into First Quarter Profits

What if first quarter was profitable — or at least break even? Imagine the year you could have! You can do it.

Originally published Published: 02.01.17 Author By Ruth King

Contests Can Help Increase Your Bottom Line

Contest are a great way to build your bottom line as well as give employees something to reach for — and they can build positive morale.

Originally published Published: 12.28.16 Author By Ruth King

Increase Your Office Productivity

Are you staffing for the busy times or the slower times? If you hire office personnel to cover all of the busy times, they will not be productive in the …

Originally published Published: 11.30.16 Author By Ruth King

Increase Warehouse and Inventory Profitability

Inventory is a bet. You’re betting your hard earned dollars that you will be able to sell parts and equipment that you buy and store in a warehouse or on …

Originally published Published: 10.28.16 Author By Ruth King

How Much Are You Paying for Advice?

When it comes to investments, most people seem content to just “let it be” and not think about it. The problem with this approach is that the fees you pay …

Originally published Published: 10.28.16 Author By Frank Pedace

Six Easy Ways to Increase Marketing Profitability

If you want to waste marketing dollars, then just burn the leads that marketing generates. You invest thousands of marketing dollars to produce those leads. Keep them productive. Keep them …

Originally published Published: 09.30.16 Author By Ruth King

Three Ways to Increase Sales Profitability

Selling profitably, riding with your salespeople and tracking results will improve your company’s sales profitability.

Originally published Published: 09.06.16 Author By Ruth King

Increase Installation Profitability

At the end of the day or the job, these are the wasted materials that get left on job sites or damaged, rolling around in trucks. Returning materials at the …

Originally published Published: 08.03.16 Author By Ruth King

Increase Maintenance Profitability

If you want to sell your business, or have a strong company, you must have a growing, thriving maintenance base.

Originally published Published: 07.01.16 Author By Ruth King

Increase Replacement Profitability

Know your overhead cost per hour and net profit per hour for every job. When you include overhead in job costing, then you really know what net profit each job …

Originally published Published: 06.02.16 Author By Ruth King

Increase Your Dispatch Profitability

Your dispatcher can make or break the profitability of your service department and potentially your company. Here are five ways to increase dispatcher productivity and, therefore, profitability.

Originally published Published: 05.01.16 Author By Ruth King

Build Your Company’s Profitability

Implementing new procedures and ideas is change. Most employees hate change. As the leader, you must give them reasons for the changes, ask for their input and remind them of …

Originally published Published: 02.01.16 Author By Ruth King

Why Net Profit per Hour is a Better Way to Price

Calculating pricing using net profit per hour ensures your overhead costs are covered in each job.

Originally published Published: 01.01.16 Author By Ruth King

Entering the Second Stage of No Man’s Land

At the end of this stage the owner is likely to have a sales manager, an office manager, a service manager and several field supervisors each with a responsibility for …

Originally published Published: 12.01.15 Author By Ruth King

Where You Should Put Labor Burden

True profit is determined by net profit per hour, calculations which take both direct and overhead costs into consideration. Labor burden is included, whether you put it in direct or …

Originally published Published: 10.01.15 Author By Ruth King

Profitable Sales Turned into Positive Cash Flow is Critical

Although cash is king and is used to pay all of your bills, cash flow is important, but profitable sales turned into positive cash flow is critical.

Originally published Published: 09.01.15 Author By Ruth King

Know When You’re Growing Too Fast or Too Slow

Business profitability doesn’t mean business survival. By running out of cash and not having the ability to borrow or get it in an equity investment, you can be profitable and …

Originally published Published: 08.01.15 Author By Ruth King

Understand Your P&L: Overhead

Overhead is any expense the company incurs to stay in business. It doesn’t generate revenue; it sucks up the revenue the field labor produces. But it’s critical for company survival.

Originally published Published: 07.06.15 Author By Ruth King

Understand Your P&L Statement: Gross Margin, pt. 2

Gross margin should not vary more than a few points each month. If it does, then you must find out why the margin is varying.

Originally published Published: 06.08.15 Author By Ruth King

What is the Company Really Worth?

Whether you're looking to sell your company, or buy a competitor, it's important to know how to conduct an accurate business valuation.

Originally published Published: 05.01.15 Author By Brandon G. Jacob

Understand Your P&L Statement: Gross Margin

While gross profit can vary widely from month to month depending on how busy your company is, gross margin should not vary more than a few points each month.

Originally published Published: 05.01.15 Author By Ruth King

Understand Your P&L Statement: Cost of Goods Sold

However you decide to categorize expenses in your P&L, it's important to be consistent.

Originally published Published: 04.01.15 Author By Ruth King