Business Builders Blog

creating your new year – part I

Each year I do this really cool process with my clients (and for myself) that kicks off the year in a great way. In this two part series I’m sharing with you what we do.

What’s really neat is that I’ve seen how this process has created amazing results for the contractors I work with – and it will for you too.

Enjoy!

how to set profitability intentions for 2022

In this past year, I’ve seen so many contractors who have reacted to the demand of the remodeling market, worked super hard to keep up the pace, but have not experienced a corresponding increase in their profits.

While the PPP money helped with cash flow, and maybe even still has your bank account looking good, we all know that when that cash runs out, you’ll still have to contend with lagging profits.

So how can you get in control of and be more intentional about the profitability of your contracting business?

 

That’s what today’s video is all about!

If you’re ready to get intentional about your profitability, grab my easy-to-use Budget Goals Worksheet guide to get you started.

If you want more tools to help you increase the profits in your contracting business, check out my book, ”The Profit Bleed – how managing margin can save your contracting business”. For a limited time, it’s FREE – you just pay for shipping and handling.

why knowing the story your numbers tell is critical to your success!

If you want to make more money and have more peace of mind in running your contracting business, then watch this video.

More than anything else I do with clients, teaching them how to interpret the story their numbers tell is the #1 DRIVER in helping them increase their profitability!

Having worked with hundreds of contractors for the past 25 years, I’ve learned that there are a handful of numbers that are the key drivers to your profitability and success. Yes, I know construction can be complicated, but if you can understand the key numbers to pay attention to that drive your success, then you can have more control over the outcomes.

In this video, I walk you through a real example of what numbers you want to look at, and how to interpret and use that information to your advantage in making a consistent profit on projects.

In my next video, we’ll dig into planning for profits, which moves from looking at historical information to planning for the future.

Until then, I have a free resource to help you know the one CRITICAL number that will make all the difference in being able to generate a consistent profit in your business. My Overhead Breakeven Percentage Calculator will give you the formula for figuring out what your overhead breakeven percentage is. (hint: It’s not the percentage that’s on your profit and loss statement.)

Warmest,
Vicki

P.S. If you want more tools to help you increase the profits in your contracting business, check out my book, ”The Profit Bleed – how managing margin can save your contracting business”. For a limited time, it’s FREE – you just pay for shipping and handling.

3 Proven Ways to Recruit Quality Employees

One of the biggest challenges I see contractors facing these days is finding qualified employees.

In this presentation I did for Contractors Success Academy, I shared 3 proven ways to recruit quality employees. In it, I share links to sites that have helped folks just like you find great employees.

If you’d like more resources and tools to help you recruit, interview, and onboard great employees, check out my “Contractors Hiring Blueprint” and get a ton of great tools and templates that will help you hire right the first time.

If you’ve not subscribed to the Contractors Success Academy podcast, I encourage you to check it out.

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