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Tag: cash flow

How Do You Measure Up: Benchmarking Net Profit

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

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Start 2019 by Closing Out Last Year’s Financials the Right Way

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.

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How to Properly Calculate a Change Order

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

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[Podcast] Episode 03: Top Financial Challenges Faced by Today’s Remodeling Business Owner with Doug Howard

Episode 3 takes a deep dive into the financial challenges that remodeling business owners face on a daily basis. Victoria and Mark welcome Doug Howard, Remodelers Advantage Director of Consulting to the PowerTips Unscripted studio. Doug Howard is an entrepreneur, government official and small business consultant with more than 25 years of experience in leading

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Judith Miller’s Top 4 Accounting Resolutions for 2018

Happy New Year! Although I typically don’t make New Year’s resolutions, I want you to make some; these are all guaranteed to make your life better by improving your remodeling business and by making your financials for December more accurate. AND, even better, the numbers you enter for your Roundtables Spring Focus Packet (due February

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9 Rapid Response Steps to Handle Cash Flow Issues

Cash flow issues can be very challenging to manage. They can show up unexpectedly. They can come on very quickly. They can distract the business owner from the important work he or she should be doing. They can disrupt the ability of the company to get a project done. And in their most severe form,

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There is No Such Thing as a Cash Flow Problem

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

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The Path to Higher Profit: Strong Leaders & Good Numbers

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,

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Is Your Company Disaster-proof?

For business owners, the tragic events unfolding before us in Texas prove the critical importance of having a disaster recovery plan. Ask yourself, “How would my business survive such a catastrophe? How would we continue to operate?” According to the Federal Emergency Management Agency (FEMA), 40% of businesses do not reopen after a disaster, and

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