Engineer your Profit Margins
The equipment industry is a capital intensive business and the threshold for entry continues to rise. You need a location, you need inventory, you need people, you need marketing, you need transportation, you need technology, etc. Now that you’re in business, you need to generate Gross Profit Margin to pay your bills. Not all of your revenue streams […]
Review your Compensation Plans
As a business owner I have had those nights when I couldn’t sleep due to tight finances and wondering how I was going to make payroll on Friday. During this same time, my sales staff and managers were getting a great night’s sleep because they were not directly connected to the cash flow or net profit of the […]
How Hard is your Rental Fleet Working?
When working with a new client that has a rental fleet, the question will inevitably surface “How hard is the fleet actually working?” Most owners and fleet managers can’t answer that question. They are measuring rental revenues; they might be measuring financial utilization (annual fleet revenue / original fleet cost) or they might be measuring gross profit from […]
Setting the Foundation for Growth
Since the recent recession starting back in 2007, most businesses have less personnel today than before. With the economic climate still being a bit suspect, these same companies are reluctant to return to the prior staffing levels. This puts customer service levels at risk due to fewer people trying to do all the prior workflow. […]
Don’t Settle for a Lifestyle Business
In the consultancy businesses we see all types of companies, large and small, start-ups and those that are decades old. One of the most common issues that is facing business owners today is the complacency factor. Many of our clients started a business with strong entrepreneurial spirit, took the plunge, accepted the financial risk and […]