Slippage, on each and every job, is the difference between the profit margin expected at the outset of the project and the actual profit margin achieved. The difference can be found in the wastes inherent in almost any process, and they can be easy to find in the course of any remodeling project. LEAN is
Financial metrics can help you make strategic decisions that could mean the difference between great success and dismal failure. A Certified Public Accountant (CPA) is someone who is knowledgeable and proactive and can compile and analyze these numbers. Louise Bartley, CPA, at Coale, Pripstein & Associates, in Columbia, Md., discusses the role of the CPA
Don’t just drift through the marketplace. A budget is one of the most important tools to help you and your company succeed. It’s your plan for profit — the road map that you’ll follow throughout the year with a planned destination of profit. Business owners who work without a budget just drift along allowing the
Written by Victoria Downing and originally published to JLC online A remodeling company owner recently nominated his office manager for an Office Manager of the Year Award. On the application, he wrote: “Our office manager provides enthusiastic support for our entire team. She is an intelligent sounding board for all of our thinking and has
Employee training is often neglected. But there’s a clear link between company profitability and business owners who invest in employee training. Remodelers don’t have to spend a lot to improve employee skills. Here are some resources. Industry publications: Have production team members subscribe. Each month ask one member to share ideas from an article. Randomly
Continuing the team-building tradition With everyone working so hard, many remodeling company owners feel there is no time, energy, or money for what they may perceive as the “soft” side of the business — things like company parties, team-building events, and internal networking activities. Todd Jackson, president of Jackson Design and Remodeling in San Diego,
When you own a remodeling company, the one characteristic that’s the most important to have — in my opinion — is resilience. Resilience is the ability to learn from your setbacks and mistakes. Resilient small-business owners learn how to turn mistakes into opportunities. They learn to look past the immediate setbacks and keep their eyes
Information is power, and powerful, when you’re trying to run and grow your remodeling business. So you carefully track your numbers and your data. You can measure your year-to-year progress that way. But how do you stack up against other remodeling companies? To truly gauge where you are now, where you want to be, and
The Joint Center for Housing Studies at Harvard University just released the Improving America’s Housing 2019 report, and there’s great news in it for remodeling companies. Here’s a look at the key points that will affect your business this year. 1. New Construction Down, Remodeling Up New home building continues to be slow, and 40% of the
In a new study, researchers at the Joint Center for Housing Studies of Harvard University have identified that consumer interest in healthy home environments is at an all-time high. That interest extends to healthy home remodeling projects. Younger homeowners, those 25-44 years old, are most concerned about their home environment having a negative impact on