Resources

Grandy & Associates has resources that will help trades companies improve their profitability. We provide training to all trades industries including HVAC, plumbing, electrical, pool and spa, chimney sweeps, hearth professionals, landscaping, hardscaping, Lock and home security, carpet cleaning, home remodel and more.

Different companies have different needs but every company has a need for understanding the financial side of their company. Check out some of our resources that can help you better manage your company and continue your learning process.

Planning for Profit profitability management software

The planning for profit profitability management software will help you create a financial model of your company from a cash flow perspective. It’s imperative that you establish your pricing from a cash flow perspective since standard accounting doesn’t take into account every expense that you have. The two critical areas that are not accounted for on your profit and loss statement are your equipment replacement costs. Your accounting may have a line item for depreciation but that deals with what you paid for a piece of equipment two or three or four years ago. Equipment replacement costs replaces this line item and will factor in what it’s going to cost you to replace that same piece of equipment two or three years from now in the future. It’s important that we get tomorrow into today. By this we mean that you need to determine what it’s going to cost you to replace your trucks and build that into today’s pricing so that when it comes time to replace them, you’ve got the money to do it. The second major area that approaching your pricing from a cash flow perspective will benefit you is loan payments. Your profit and loss statement does not take into account any principle payments that you make for loans. It only accounts for interest. That means that any monies that go toward principle show up on your profit and loss statement as profit. That’s not an accurate look at your expenses and results in most companies underpricing themselves. Once you’ve created a financial model in the planning for profit profitability management software, you will know exactly what your break even rate is in each department of your company, you will know exactly what you need to charge per hour to cover your cost of operation and generate the profit targets that you’re looking for, you will have created month by month cash flow budgets for your entire company which can feed directly into your QuickBooks online account. You will also have tools to track your billable hours throughout the year to make sure that you are building the number of hours that you thought you were going to when you started the year. This ensures that you hit your profit targets. You will also have job pricing calculators to ensure that you’re making the money that you thought you were going to when you quoted the job whether it’s a labor intensive job or a material intensive job.

Team Assessments

Everybody communicates differently. Sometimes it feels like you’re beating the head against the wall trying to get somebody else to understand what you’re saying. This eats away at your profitability regardless of whether that individual is your customer or one of your team members. Think about it how much has miscommunication cost your company. Grandy & Associates team assessments will allow you to determine the communication style of each team member in your company. Once everybody on your team understands how the others communicate, it will increase communication and productivity amongst the team. But behavioral communication is only a part of the story. It’s “how” you communicate. But there’s far more to you than that. Driving forces defines why you do the things that you do. What’s the passion that you have? What’s the fire in your belly? Why do you get up in the morning? What drives you?
If you’re in a job that doesn’t reward your driving forces, you’ll tend to go home at the end of the day feeling that your job really isn’t that rewarding. But when you’re in a job role that rewards your driving force, there is no such thing as work period you enjoy what you do and you go home at the end of the day feeling that you made a solid contribution and everything you did was rewarding. Then from here we can look at the competencies that you have your team members have mastered.

Once we’ve looked at all three of these areas, we can now compare them back to benchmarks for specific positions within your company. You’ve heard the adage that says you need to get the right people in the right seat on the bus. Some of your team members are the right people on the bus, they’re just in the wrong seat. Our benchmarking process will help you determine whether you have the right team member in the right role.