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Finance & Succession Planning

Maximize Your Mark-Up

Learn to mark-up your mark-ups for lasting profits. Using variable mark-up charts to strategically boost your gross profit margin

Originally published Published: 04.01.14 Author By George Hedley

Turn Recovering Refrigerant into Revenue

Safeguarding the Environment, Your Customers, and Your Bottom Line through Smart Refrigerant Recovery.

Originally published Published: 02.01.14 Author By Corey Hundley

Why I Hate KPIs

Comparing KPI ratios to industry standards alone can be a risky move.

Originally published Published: 01.01.14 Author By Ruth King

The Annual Tax Extenders Dance in Washington

Tax credits on the chopping block that impact your business

Originally published Published: 11.01.13 Author By Charlie McCrudden

Involve Your Employees in Your Business Plan

In the first of a three-part series, Ruth King explains why setting goals is the first phase of business planning and why it's important to involved your employees.

Originally published Published: 10.01.13 Author By Ruth King

Double Your Commercial Maintenance Agreements

Here are six actions you can take to increase your commercial maintenance agreement business.

Originally published Published: 09.01.13 Author By Ruth King

How to Handle Embezzlement in the Family Business

This article explains what actions you should take when you think a family member may be embezzling from the business.

Originally published Published: 09.01.13 Author By Lois Lang

6 Considerations When Hiring a Bookkeeper

Owners are usually experts at operating their companies, but not about the details of bookkeeping. So a good bookkeeper can be a tremendous asset. Learn how to identify and hire …

Originally published Published: 07.01.13 Author By Ruth King

6 Strategies for Reducing Debt

Calculate your debt ratio, then act if it is too high.

Originally published Published: 05.01.13 Author By Ruth King

5 Ways to Avoid Credit Card Fraud

5 ways to help businesses large and small successfully avoid credit card fraud.

Originally published Published: 05.01.13 Author By Rob Bertke

Drive Sales with Daily Tracking of Maintenance-Agreement Success

Tracking maintenance-agreement enrollments and renewals is critical to growing a strong maintenance customer base. Tracking forces you to focus. Focus gives you the best chance for success.

Originally published Published: 04.01.13 Author By Ruth King

Finding, Implementing Construction-Specific Financial Software

Purchasing business software is unlike buying off-the-shelf software in a number of ways, but perhaps the most important difference is that you are purchasing a relationship

Originally published Published: 03.01.13 Author By Wayne Newitts

Tracking and Accounting for Commercial Maintenance Agreements

Accounting for commercial maintenance agreements is performed differently depending on the type of agreement sold and how that agreement is billed. I’ll cover full maintenance agreement accounting and planned maintenance …

Originally published Published: 03.01.13 Author By Ruth King

Have You Outgrown Your Financial Software?

When does construction-specific accounting and operations software start to make sense for HVACR contractors? It varies. Some businesses approaching $50 million in annual revenue are able to get by with …

Originally published Published: 02.01.13 Author By Wayne Newitts

Accounting for Residential Maintenance Agreements

A good maintenance agreement program will help even out cash flow, increase your company’s bottom line, and keep your field employees productive throughout the year.

Originally published Published: 02.01.13 Author By Ruth King

2013 Economic Outlook: Housing and Exports Strong; Confidence So-So

John Augustine, Chief Investment Strategist for Fifth Third Private Bank, talks about the impact of the presidential elections, Europe’s rocky economy, and persistent domestic unemployment.

Originally published Published: 01.01.13 Author By John Augustine

Do You Have the Courage to be Profitable?

Once you understand your financials and start consistent monthly reviews, you must boldly implement changes based on what you see.

Originally published Published: 01.01.13 Author By Ruth King

Can you Afford to Hire a New Office Employee?

Last month I wrote about how to determine whether you can afford to hire a field employee. This month I’ll give you the calculations to determine whether you can afford …

Originally published Published: 12.01.12 Author By Ruth King

Can You Afford to Hire a New Field Employee?

Your company is growing. You feel the need to hire another field employee. Can you afford to hire this person? Find out by using this mathematical calculation.

Originally published Published: 11.01.12 Author By Ruth King

Play it Smart After the Busy Summer

Here are the stupid things that I know you, the smart contractor, won’t do now that the unusually hot, humid and demanding summer is over.

Originally published Published: 10.01.12 Author By Ruth King

Improve the Financial Health of Your Business

How to be creative and resourceful in finding financing during economic hardship.

Originally published Published: 09.01.12 Author By Ron Edinger

How to Keep Inventory and Receivables Balanced

Editor’s Note: This is the fourth and final in a series of how to use graphical depictions of financial ratio trends to help contractors spot potential problems early and make …

Originally published Published: 08.01.12 Author By Ruth King

Percentage Compensation Measures Productivity of Labor Force

Editor’s Note: This is the third in a series of how to use graphical depictions of financial ratio trends to help contractors spot potential problems early and make proactive decisions …

Originally published Published: 07.01.12 Author By Ruth King

Personal Debt and Corporate Debt

If you are operating your business in corporate form, it is important to follow formalities. You should sign contracts in your capacity as an officer, and contracts should always be …

Originally published Published: 06.01.12 Author By Mike Coyne

Debt Ratios: Look For Short- and Long-Term Warnings

This is the second in a series of how to use graphical depictions of financial ratio trends to help contractors spot potential problems early and make proactive decisions about financial …

Originally published Published: 06.01.12 Author By Ruth King

Liquidity Ratios: Trends Key to Profitability Outlook

Every month you should receive accurate and timely financial statements. Looking at one month’s financial statements (balance sheet and P&L statement) does not tell much. To see where your business …

Originally published Published: 05.01.12 Author By Ruth King

Cash Needs Should Drive Revenue Goals

Without profits, cash runs out. Yet, your business could have an unprofitable month or quarter and still survive. Many contractors that operate with Dec. 31s as their year-end, state that …

Originally published Published: 04.01.12 Author By Ruth King

Why You Need Both Profits and Cash To Survive

Each month your P&L tells you whether you earned a profit or had a loss. It does not tell you how much cash you have! You must turn your profits …

Originally published Published: 03.01.12 Author By Ruth King

Stop Cutting and Start Growing

In lean times you can decrease cash spending by using inventory in your shop and on your trucks. Ruth offers a break-even formula to calculate what your company needs to …

Originally published Published: 02.01.12 Author By Ruth King

3 Ways to Eliminate Low-Productivity Habits

Ruth King offers three suggestions to help you get the most profitability and productivity from every dollar that comes in the door.

Originally published Published: 12.01.11 Author By Ruth King

As The Year Ends, Review Your Pricing Strategy

Determine your position in the market; then define desired profitability.

Originally published Published: 11.01.11 Author By Ruth King

Take Advantage of Barcoding Benefits

Once implemented and used correctly, you’ll be making much better inventory bets, saving time and — as a result — increasing profitability with barcoding.

Originally published Published: 10.01.11 Author By Ruth King

Pulling It All Together: A Good Financial System

A good financial system is based on both the monthly financial data and weekly information you gather. These five activities will help you discover whether your company is moving in …

Originally published Published: 09.01.11 Author By Ruth King