Finance & Succession Planning

Is Debt Good? Only You Can Decide

The reality is that debt usage is an emotional decision. Some company owners are comfortable with a lot of debt. Others can't sleep at night if they owe anybody anything. …

Originally published Published: 08.01.11 Author By Ruth King

Understanding Profit and Loss Statements

A P&L, or income statement, is a vital document for good fiscal management.

Originally published Published: 04.01.11 Author By Ruth King

More Balance-Sheet Basics: Liabilities and Net Worth

Liabilities are debts that your business owes. Like assets, liabilities are divided into two segments: current liabilities and long-term liabilities.

Originally published Published: 03.01.11 Author By Ruth King

Saving on Fleet Costs Requires a Plan

By using three key tools, contractors can protect themselves against wasted time and money, costly repairs that could have been prevented, and one of the biggest wildcards in operating company …

Originally published Published: 02.01.11 Author By Kenneth W. Janosick

Understanding Your Balance Sheet: Assets

Convertibility to cash determines "current" or "fixed."

Originally published Published: 02.01.11 Author By Ruth King

Befriend Your Financial Statements

Properly formatted financial statements — along with accurate information in those statements — is critical to making good financial decisions for your business.

Originally published Published: 01.01.11 Author By Ruth King

Attitude and Focus Beat the Economic Blues

Many contractors I know did very well in 2010 despite the economy and despite all of the bad news in the media. What made the difference for those who did …

Originally published Published: 12.01.10 Author By Ruth King

Set Maintenance Agreement Goals to Cover Overhead

You need enough maintenance agreement customers to cover the entire overhead of your company so that you won’t have to worry about a flailing economy causing your company to go …

Originally published Published: 11.01.10 Author By Ruth King

Boost Technician Confidence to Sell More Service Agreements

Customer-service training must be continuous and thorough. If you just tell your technicians what you want, they will only think about what they are going to say and never say …

Originally published Published: 10.01.10 Author By Ruth King

A Chance For Bonus Profits

Invest additional time and resources to inform customers and prospects about the expiring replacement tax credit.

Originally published Published: 09.01.10 Author By Ruth King

Take Action to Correct Bad Financial Statements, part 2

7 ways to fix financial statements that are wrong.

Originally published Published: 08.01.10 Author By Ruth King

7 Dead Giveaways That Your Financial Statements are Wrong

Your financial statements are your scorecards. If they are not accurate, you might make the wrong business decision based on incorrect information. Here are seven things that clearly tell you …

Originally published Published: 07.01.10 Author By Ruth King

Personal Finance: Understanding and Improving Your Credit Score

Your credit score can be the key to home ownership, an auto loan, consumer credit, and even employment. How much do you know about this three-digit number that holds so …

Originally published Published: 07.01.10 Author By Bruce Cornelius

6 Ways to Proactively Raise Cash

Making calls to past-due customers, former customers, and happy customers helps to keep the cash flowing.

Originally published Published: 06.01.10 Author By Ruth King

3 Easy Ways to Improve Your Bottom Line

Businesses can improve profitability in many ways. Some require making substantial investments, such as buying new equipment or expanding marketing efforts. But there are inexpensive ways as well. Here are …

Originally published Published: 05.01.10 Author By Ruth King

5 Ways to Boost Work Year-Round

Take a tip from farmers. Plant seeds in the spring t decrease your dependence on the weather and increase customer loyalty.

Originally published Published: 04.01.10 Author By Ruth King

Increase Profits Without Price Increases

One of the toughest things owners and managers have to do is to productively manage a labor force. But companies that manage their labor and their inventory effectively are among …

Originally published Published: 03.01.10 Author By Ruth King

Downturn Made Contractors Stronger

I observed five trends in 2009 that helped contractors not only survive in a bad economy-but thrive in a bad economy.

Originally published Published: 02.01.10 Author By Ruth King

How to Get Paid Fast

Why commercial contractors need to get 'tough' on payments.

Originally published Published: 02.01.10 Author By George Hedley

5 Ways to Generate Business

Everyone knows that 2009 was not a great year economically. Some contractors did well. Perhaps they were not as profitable as they were in 2008, but they still were profitable. …

Originally published Published: 01.01.10 Author By Ruth King

5 Must-Dos for Increasing Sales Through a Credit Programs

Your ability to use financing to close sales can be a key differentiator from your competitors because offering payment options makes it less likely your customers will take their business …

Originally published Published: 01.01.10 Author By Bruce Christensen

Make Big Plans for The New Year

If you want to improve your business, skip resolutions and change what you are doing.

Originally published Published: 12.01.09 Author By Ruth King

Consumer Financing Can Improve Cash Flow, Help to Close Sales

In many cases, a new heating and/or AC unit amy be an unplanned expense. A consumer credit program is a powerful sales tool that also helps customers.

Originally published Published: 11.01.09 Author By Bruce Christensen

Keep Employees Informed of Business Costs

Sharing this information will open their eyes to waste and the true value of benefits.

Originally published Published: 10.01.09 Author By Ruth King

Consider Taxes When Acquiring New Equipment

This article will summarize the business, tax, and other financial considerations associated with the lease-versus-purchase decision. Ultimately, only you can decide which approach is best for your business.

Originally published Published: 09.01.09 Author By Mike Coyne

5 Ways to Boost Fall and Winter Sales

Fall is the time to be proactive and make sure your customers understand that heating and air conditioning are necessities, not luxuries. Make sure they call you for the repairs …

Originally published Published: 09.01.09 Author By Ruth King

Preventing Employee Theft, Part 2

Most employees are honest. However, when faced with stressful situations, even honest people can do things that are wrong, most notably stealing

Originally published Published: 08.01.09 Author By Ruth King

Preventing Employee Theft, Part 1

If you don't have a system in place to prevent theft by employees, you won't be able to control it once it starts.

Originally published Published: 07.01.09 Author By Ruth King

Spot Trouble Quickly with Trend Data

Financial benchmarking, both short and long term, is critical to making good business decisions that will keep your company financially healthy. When you see the numbers trending in the wrong …

Originally published Published: 06.01.09 Author By Ruth King

Financial Benchmarking, Part 1

Financial benchmarking provides you the assurance that your business is going well, or the clues to when it isn’t so that you can take action.

Originally published Published: 05.01.09 Author By Ruth King

Finding Financing in an Economic Decline

To keep your small business flush with cash while the government attempts to create programs designed to ease lending and improve our economy’s conditions, entrepreneurs should be creative and resourceful …

Originally published Published: 04.01.09 Author By Chris Talis

Come Out From Under the Covers!

When the economy struggles, you don't have to. Keep making telephone calls, talking with clients and prospective customers, and keep a positive attitude. If you do this, the tough times …

Originally published Published: 03.01.09 Author By Ruth King

Collection S.O.S.

A third party debt recovery team can help you improve accounts receivables while also educating you on how to spend time chasing new business, not past due accounts.

Originally published Published: 03.01.09 Author By HVACR Business Staff