For many home service business owners, the world of financial statements can often feel like deciphering a complex puzzle. One of the most common misconceptions is the assumption that the net profit figure on the Profit and Loss (P&L) report should seamlessly...
Pricing is a critical aspect of any business, and when you change pricing in your business, you should dot i’s and cross t’s before going live with the new prices. It requires careful consideration. Before you change pricing, it’s essential to calculate a few...
Recurring income can create cash flow-generating assets in your service business. This will help your profits to continue to pour in while eliminating stress about payroll, especially during the slower season. Subscription Based Services One approach is to offer...
As a home service business owner, there are several key performance indicators (KPIs) that you should be monitoring to ensure the success of your business. Here are some important numbers to keep an eye on: Revenue: This is the total amount of money your business...
Quite often you are so focused on the NOW, today and what sales are booked for the next week or so. While it’s important to have your finger on the pulse of what is happening NOW, you also have to look at the past to predict and be prepared for the future. That...
