Disaster restoration is a notoriously cash-poor business. We typically pay our bills weekly – or bi-weekly for payroll, weekly or bi-weekly or monthly for our trades subcontractors and monthly for most vendors. A well-run restoration company typically collects money in around 45 days with the … [Read more...] about Using Financing in Disaster Restoration
If you are interested in learning more about working with Business Mentors: The following Podcast will answer all your questions about Business Mentors, who we are, how we work, our areas of focus and more. Business Mentors podcast If you have any questions and want more information about … [Read more...] about Business Mentors podcast
I did not create a list of trends in 2017 however I did in 2016. Prior to starting the current years predictions, it is appropriate to assess my past predictions to provide credibility for my look into the future. In many ways it is good to offer a 2-year review because it provides more time for … [Read more...] about 2018 Restoration Trends
Do you ever feel that you are running in place in your business – just another day full of the same tasks as the previous day? If you are stuck in your business, this is often the result of a lack of a strategic plan, the wrong plan, or an inability to focus on the action items in your plan. The … [Read more...] about Is your business a resource to achieve your personal goals?
It has been a banner year for restoration professionals across Canada and the United States. Is this good or bad for your business? If your region has been impacted by disaster then it most likely has added to your bottom line. Bottom line results don’t tell the entire story and often can be … [Read more...] about Where there is profit, there is loss nearby
I have been asked recently if margins in reconstruction are changing and if it is still possible to achieve the same margins as they were several years ago. Below is my response: Here are some differences of the influences: (The companies that I work with are not combining costs and revenue … [Read more...] about What is happening with margins in disaster restoration?
One major difference between successful contractors and ones that continually struggle is the presence of a strategic plan. Does it appear that your weeks are driven by crisis and your days filled with busy activities – running to get nowhere? I am not saying that you are not getting things done, … [Read more...] about Groundhog Day?