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Tag: profit

Selling Without Slippage: Translate & Communicate

The responsibilities of a Sales Person range significantly within a remodeling company for many reasons. Typically, a sales person is rewarded by closing the deal and setting expectations with the client. However, it is equally important to know how he or she can help reduce profit slippage by communicating the client’s project details effectively, when

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6 Things to Keep in Mind When Building Your Slippage Planning Team

We are off to a great start with Slippage Awareness Month… We’ve heard from Tim Faller with his blog post last week and we are looking forward to his Live Webinar, “From Slippage to Grippage: How to Raise Profits Without Raising Prices” on Thursday, June 15th at 11:00am EST. This week we take a look

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The Team Approach to Preventing Slippage

Loss of revenue is a critical issue for any business, but in my experience, the biggest problem with slippage is the effect it has on morale within the company. Of course, it hits the owner of a remodeling business hard because it is money out of his/her pocket, but it effects the entire team because

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Have You Ever Flown a Profit Simulator?

You don’t need a huge transformation in your remodeling business to see a huge transformation in the results you achieve. In fact, improving productivity and efficiency by only a few percentage points can rock your business world—in a good way. This is what we demonstrate to remodelers the first time they work with us, either

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The 3 Top Accounting Methods and the Lies they Tell

Keeping track of your revenue and expenses can be very time-consuming and even confusing. How can you accurately determine what your budget is, how much your expenses are eating into your profit and how to budget for a future project? At its core, the biggest problem remodelers face when it comes to understanding how to

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3 Steps to Eliminate Lumberyard Runs Forever

Remodelers are always struggling with the cost of an employee leaving the job site to pick up materials. Simple calculations often reveal that this consistent behavior costs companies about 2-4% of their annual sales volume. Preaching doesn’t change it; threats don’t change it. So what does? Daily planning does! Three simple steps will dramatically reduce

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The Big Money Mistake You Don’t Know You’re Making

I’ll bet you think you know exactly what your projects cost. But do you really know? Many remodelers I speak with forget to add in one big piece of the job cost pie.  And this oversight means you’re losing profits on every job you do. In this week’s episode, I’m going to tell you what

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4 Ways to Raise Profits

Have you ever thought, “I’d be making more money working as an employee for somebody else then I am as the owner of my own company?!”  If so than you have profitability issues! This week I’m going to discuss the four ways to fix it. Because one of the most important guidelines to building a great business is

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How a Job Autopsy Can Save Future Profits

This week I’ll share some examples of how slippage can destroy your profits. More importantly, you’ll see how performing a thorough job autopsy can prevent future slippage. So if you’re looking for ways to increase your profits, look no further than this week’s episode of PowerTips TV and learn one very effective technique for eliminating

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How Much Should You Pay Yourself?

Have you ever wondered what other remodelers pay themselves? Are you concerned that you may be underpaid? You’re not alone. When most remodelers are just starting out, they pay themselves next-to-nothing “for the good of the company.” But as their business grows, increasing owners compensation becomes a challenging proposition. I hear questions like, “how much is too

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