When you run your monthly Profit & Loss (P&L) report (you do run one, right?) do you find that both the dollar value and the profit percentage varies wildly and you start to doubt the accuracy of the report? If so, maybe it’s because you are not adjusting the figures to take account of Work…
Let’s face it. Most tradies would rather be forced to watch replays of marathon chess matches than put time into creating a budget for their business. I can understand their reluctance, but I would also like to show them the error of their thinking. Creating a budget for your business can be one of the…
When you think about it, renovating a house is much like what I do in helping you improve your trades business. And when you look at it this way, using an outside advisor makes sense. How so? Scoping. When you look at a reno project you visit the site (I hope) and check it out. …
Your business can be viewed as a bucket. In the top your pour revenue, which comes from your sales process, then deduct the direct costs of producing that revenue. Unfortunately everyone’s bucket leaks and so the amount left over (as net profit) is often a lot less than it could be and what is required…