Today on PowerTips Unscripted, Mark and Victoria are joined by Michael Hodgin to discuss using the financial review to pivot to profitability. A complete understanding and review of your company’s financials is a practice that requires a disciplined effort. However, with this practice in place, an owner will be able to use the information from these reviews to pivot when and where necessary to be more profitable year over year. Using his expertise as a former business owner and a business coach, Michael talks about how he examines a company’s financial statements, including what KPIs to review and whom to review the financials with.
Michael was an owner of a successful remodeling company for over 22 years. He has since left and is the owner of Maestro’s Toolbox, where he works with owners of design-build companies across the country to help them build better companies and, therefore, better lives. In addition, Michael has been part of the roundtables as an owner, a facilitator for roundtables meetings, and part of the Remodelers Advantage Business Coaching team.
Victoria, Mark, and Michael talk more about:
- When is it best to review financials
- What should be getting reviewed
- What is the next step after reviewing
- And more…