The three biggest mistakes you can make as the owner of a HVAC company are: Using markup instead of margin Owners not getting paid twice Focusing on the work instead of on time Markup is the most generic form of pricing in the trades, and it is based on a false assumption. If your cost of materials is $1 and [...]
As a Business Coach, this is one of the questions I hear most: "I started my company years ago with almost nothing. Every year it grew until it reached where we are now. We got to that point three years ago, and no matter how hard I try, the numbers always hold around the same. Why can't I break out [...]
As a Business Coach, I have seen firsthand how the pandemic has impacted small companies. PPP was a band-aid. EDIL loans helped, but the Business owner is responsible (often personally) for principle and interest. The length of the term sounds inviting but don’t confuse temporary cash flow for profits. Consider that you will need more monthly profits to repay this [...]
Inflation, recession, COVID, interest rates rising, and lending drying up are all signs of an economy going bad. Every expense, from insurance to gas, creeps upward daily. So what is your company to do when everything costs more, and your customer base is looking to conserve cash? Your subsequent decisions will decide whether your business thrives or dies in a [...]
Professionals who move up to top management and C-level positions already possess the knowledge needed for the job. Technical knowledge, however, takes a back seat to the fundamental role of leadership: vision and inspiration. Leadership is the transference of certainty. Stepping into a new position is, by definition, uncertain. Leaders try to balance family, work, sales, operations, money, and employees—no [...]
"It’s ok to be tired; just don’t be defeated." With the world today, everyone is tired, overwhelmed, and anxious. If you listen to the news, the world is ending. Billy Joel said it right, “We didn’t start the fire. It’s been burning since the world been turning.” The cure for worry is intentional action! Please turn off the news; they [...]
"I’m not too fond of time management, and neither are you" Time management implies restriction, and there is nothing an entrepreneur hates more than limitations. Time management is a go-to cure-all but seldom works in the real world. Focus on Timed results instead. If you want an entrepreneurial organization full of thinking, professionals remove the confinement of time management and [...]
"Your sole job is the financial health of your business." When I work with a client, the first thing I aspire to understand is the numbers. As time goes on, I shift that to even a more obscure concept - percentages. When was the last time you did a full numerical review? When you see your company as math, everything [...]
"Beware Of The “Nice Guy Syndrome”" I have found that many small companies suffer from what I have come to call “Nice GUY Syndrome.” Keeping employees that have long ago lost their value to the organization, supporting family members to the detriment of the firm, giving to charity, carrying A/R long past terms just because you can, etc. You know [...]
"Leadership is the transference of certainty." As the leader of your organization, you have to make a choice. That choice is about how you will lead. Do you want to be the “Boss” always laying down the law and demanding respect? I call this the “I” of the universe. I said it, so do it. You can get results this [...]
