Add your overhead cost per hour and your direct cost per hour. This is the absolute minimum price you must charge your customers.
Published: 03.01.18 By Ruth King
Published: 02.01.18 By Ruth King
Published: 01.01.18 By Ruth King
Published: 12.01.17 By Ruth King
Should you prosecute? It depends on how much hassle you’re willing to put up with during the investigation and court cases.
Published: 11.01.17 By Ruth King
You have the perfect employee: hard working, dedicated and accurate. But do you? Here’s how to spot a red flag.
Published: 10.03.17 By Ruth King
Bankruptcy court has the right to request return of payments made to vendors.
Published: 09.01.17 By Ruth King
Your interview process must include a background check, especially for the bookkeeper.
Published: 08.01.17 By Ruth King
Be forewarned: the Department of Labor says you have to pay for meeting time and “gab time.”
Published: 07.05.17 By Ruth King
You shouldn’t be giving your money away, nor should you make it easy for anyone to simply take it.
Published: 06.01.17 By Ruth King
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.
Published: 05.04.17 By Ruth King
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.
Published: 04.12.17 By Ruth King
It’s what you do with that sale once it comes in the door that is more important.
Published: 03.09.17 By Ruth King
Starting to build your wealth early will prepare you for large purchases or business expansion.
Published: 03.09.17 By Stoyan Panayotov
What if first quarter was profitable — or at least break even? Imagine the year you could have! You can do it.
Published: 02.01.17 By Ruth King
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.
Published: 12.28.16 By Ruth King
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 …
Published: 11.30.16 By Ruth King
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 …
Published: 10.28.16 By Ruth King
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 …
Published: 10.28.16 By Frank Pedace
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 …
Published: 09.30.16 By Ruth King
Selling profitably, riding with your salespeople and tracking results will improve your company’s sales profitability.
Published: 09.06.16 By Ruth King
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 …
Published: 08.03.16 By Ruth King
If you want to sell your business, or have a strong company, you must have a growing, thriving maintenance base.
Published: 07.01.16 By Ruth King
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 …
Published: 06.02.16 By Ruth King
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.
Published: 05.01.16 By Ruth King
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 …
Published: 02.01.16 By Ruth King
Calculating pricing using net profit per hour ensures your overhead costs are covered in each job.
Published: 01.01.16 By Ruth King
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 …
Published: 12.01.15 By Ruth King
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 …
Published: 10.01.15 By Ruth King
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.
Published: 09.01.15 By Ruth King
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 …
Published: 08.01.15 By Ruth King
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.
Published: 07.06.15 By Ruth King
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.
Published: 06.08.15 By Ruth King
Whether you're looking to sell your company, or buy a competitor, it's important to know how to conduct an accurate business valuation.
Published: 05.01.15 By Brandon G. Jacob
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.
Published: 05.01.15 By Ruth King
However you decide to categorize expenses in your P&L, it's important to be consistent.
Published: 04.01.15 By Ruth King