Finance & Succession Planning

Rocket Profits — Where Do You Want to Go?

Decide what you want your goals to be, why you want to achieve them and get your employees on board.

Originally published Published: 01.01.19 Author By Ruth King

Three Essential Functions, Part 2 — Service Profitability

Your service rate would be $140/hr, assuming you could bill 100 percent of a service technician’s time.

Originally published Published: 11.01.18 Author By Ruth King

Three Essential Business Functions, Part 1 — Maintenance Profitability

The foundation of every HVACR company is a thriving maintenance program.

Originally published Published: 10.01.18 Author By Ruth King

What To Do When You Can’t Make Payroll

Almost every business runs into cash flow problems at some point. It rarely happens but it does happen.

Originally published Published: 09.01.18 Author By Ruth King

Determine if Your Fall Advertising Activities are Profitable

Before you make any advertising purchase, determine whether you can at least break even on that purchase or earn your desired net profit on that purchase.

Originally published Published: 08.01.18 Author By Ruth King

The $99 Maintenance Agreement Too Good to be True

You can’t do a good job and stay in business at that price if you don’t sell something during the maintenance visits.

Originally published Published: 07.01.18 Author By Ruth King

Seven Ways to Have a Profitably Busy Summer

These seven procedures help you have a profitably busy summer so that you have cash to survive the slower times of the year.

Originally published Published: 06.01.18 Author By Ruth King

‘I Made a Profit — Where’s the Cash?’

There are times your company shows a profit, yet you have problems scraping enough cash together for payroll.

Originally published Published: 04.01.18 Author By Ruth King

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

Build Your Pricing Around Net Profit Per Hour

The key to pricing using net profit per hour is that you must estimate labor hours correctly.

Originally published Published: 02.01.18 Author By Ruth King

Vanity Metrics vs. Clarity Metrics

There are many metrics to track, however, none are as important to profitability than current ratio, acid test, productivity ratio and net profit per hour.

Originally published Published: 01.01.18 Author By Ruth King

Five Activities that will Make a Difference in 2018

Profitability is the key to survival. Here’s five things you can do to ensure profitability in the New Year.

Originally published Published: 12.01.17 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