Blog

3 Common Problems With Cash Flow

There is a common misunderstanding about cash flow and what its role is within your business. Cash flow is often described as the lifeblood of any business. You can be profitable on paper but cash poor. It is important to know the difference between cash flow and profit and how to keep money going into the bank. To better understand cash flow you need to understand the problems associated with it.

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2 Business Woes That Business Owners Shouldn't Lose Sleep Over

As a business owner you know there are times your head hits the pillow and all your worries hit you. Yes, it is important to stay on top of things, but you also have to consider that some things just aren't worth losing sleep over, especially those things that you cannot control.

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3 Decisions Restoration Business Owners Don't Want To Make

Decisions. Decisions. Decisions. For a restoration business owner this is what your day to day life consists of. Within these decisions include the hard decisions that you probably rather not make, but you know are necessary to increase the productivity, profitability, and cash flow of your business. Most people don’t want to decide what or who to cut, but these are the hard decisions that are necessary to keep operations running smoothly.

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3 Benefits of an Acquisition

There comes a time in a business lifecycle that the owner decides they want to grow their business. The fastest way to grow your restoration business is through acquisition. Acquiring another business can be expensive, as you are purchasing another company.

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Why Paying Yourself is Crucial to Your Restoration Business

Have you heard that many small businesses go without a salary for the first three years they are in
 business? Did you know that most small businesses stay in the red for the first three years and often close? I don’t think this has to be the case. A small business owner doesn’t have to go without a salary and they can thrive in their business instead of surviving. From my experience, I honestly believe that paying yourself is crucial to your restoration business. When an owner does this, success can follow. No need to wait.

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Top 3 Cost Savers That Most Restoration Companies Miss

To increase your cashflow, you need to see where you can save. Three of the top cost savers are either ignored or not thought about. The three areas you need to consider for cutting costs for your restoration business are:

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3 Easy Ways to Improve Productivity For Your Restoration Jobs

Let’s take a look at the pure definition of the word Productivity: the effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.

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How to Lower Your Rent On Your Restoration Facility

Believe it or not, rent is another area of your expenses that can be adjusted through renegotiation or by merely cutting down on the size of your office space and warehouse. So how exactly would you go about lowering the rent on your restoration facility?

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How Challenges In The Restoration Industry Lower The Value Of Your Business When You Sell

Increased market competition. Changes in the insurance industry. Homeowners who can’t afford
to pay out of pocket. All of these challenges erode your net profits and lower the value of your business when you decide to sell it. Before you can stop the bleeding, you need to understand what are you’re up against.

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How To Develop The “Pay yourself, first!” Business Plan

Did you know that 20 cents of every dollar your restoration business brings in should end up in your wallet? The best way to ensure you achieve this goal is to develop a 12-month business plan utilizing our “Pay yourself, first!” technique.

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