Don’t just drift through the marketplace. By Victoria Downing. 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
We’re in the first full week of the New Year — it’s time to buckle down and get back to work, putting all your plans for 2019 into action. But without some vital pieces of information, you won’t see a true picture of where you’ve been and how to get where you want to be.
Change orders are tough. It’s hard to get everyone on board, and challenging to get paid the amount you really need to for the business. It would be nice if there weren’t any, but the nature of remodeling means they’re a necessity on most projects. But you could be losing money in a way you’re
It’s that time of year again — when we look back to see what worked and what didn’t for your business, the good decisions made and others you’d change. Did this year bring the success you’ve been building toward or was it a challenging year that fell short of your goals? But it’s also time to look forward. To figure out and
With work booming, many remodeling companies are in growth mode. If you’ve been working out of a home-based office, it may be time to fly the coop. No one wants to spend money on rent or another mortgage if you don’t have to, but if working out of your home is limiting your company’s growth
You lead a team of remodeling-industry professionals. You all set out to make this a great year for your company — a victory — and now it’s halftime! Take the opportunity to head back into the locker room (or your office) to review your business goals and look ahead. Will 2018 be a win? What strategies will you use in the second half to
Well, how could that be? If you have more bills to pay than money to pay them, isn’t that a cash flow problem? My guess is that if you are a business owner who has ever faced that situation at any point in your career, you would most definitely have considered it a problem. In
After more than 30 years of working with remodelers around the country, I have encountered nearly every problem to confront a remodeling company: the dissolution of long-term partnerships, ineffective marketing tactics, sales systems that don’t produce results, unmotivated production crews, theft from overhead coffers, bankruptcy and terrible accidents on the job. On the other side,
In our last throw-back episode of the season, we take a closer look at Slippage and how it can destroy the profit margin your team works so hard to obtain. In order to keep it from becoming a recurring problem, we cover how to perform a “Job Autopsy” or a break-down of where things went
As we head into the second half of 2017 we take a closer look at your Marketing efforts. A key to your success is tracking… What’s working and what isn’t… Do you know? In this week’s re-run episode of PowerTips TV we throw it back and take a closer look at how to track and
Selema Lawson-Jack joins the show and discusses how she found a technology fix to solve an inventory management issue but expanded its capabilities to create efficiencies across the organization and generate revenue simultaneously. She talks about how Sortly, the affordable app she implemented, operates and how she integrated it into the organization successfully. Selema worked
The Great Recession gobbled up a whole slew of remodeling companies, but more of them fail during an economic expansion than during a contraction. Growth is great, but it’s risky, and knowing how not to grow will put you ahead of the game. In this hot market, there are so many opportunities, you can get ahead of
The Locus of Control is a concept that highlights one’s ability to control the outcomes and events in their lives. When applied in a business, The Locus of Control can increase productivity, and breed ownership and support. The Tim Faller Show welcomes back guest Jef Forward, to share his experiences surrounding the locus of control
Reviewing employees in the remodeling world is, at best, a struggle. It is often an employee’s opportunity to ask for a raise and an employer’s opportunity for frustration. Tim Faller joins Mark and Victoria to talk about the necessary fundamental shift in the employee review process. Tim makes the transition from podcast host to guest
As a society, we spend nearly four hours daily on our smartphones, a 59% increase compared to just two years ago. The total amount of time each person spends in front of all media per day is 12 hours and 21 minutes, up 11% over two years, and the amount of time we spend socializing