An obvious way to stimulate profit is to generate more volume. To generate more volume, take a hard look at the way you’re receiving and following up on the leads coming into your business. Obtaining and managing leads kickstarts the entire financial management cycle. Following up on leads creates the basis for your scorecard. It tells you how you’re tracking... read more
I’ve been asked several times by people inside and outside the Green Industry about the differences between a controller and CFO. After having many of these conversations, I’ve come to realize most people think they’re the same thing—except maybe a CFO is a supercharged version of the controller. They think the next step along the career path of any controller... read more
When you first open your business, you’re just thankful customers come your way. Once you’ve been in business for a while, you realize that not every customer is a good fit for you. As I’m sure you know, it’s actually more profitable to be selective in the type of customer you serve and the type of work you do for... read more
On last night’s show, Green Industry consultant and Landscape Management columnist Frank Ross discussed the financial reasons so many landscape contractors fail in business. Some fail to make a profit, some fail to control labor and some just don’t have that “fire in their belly” that pushes them to succeed every day. Although we didn’t get through all of his... read more
Avoid exposing your company to an audit. Is the cost of today’s activities tax deductible?” That’s the question one of my land care clients recently asked me at a fancy dinner after a Green Industry golf outing. Having just been through a tax audit for another client where the Internal Revenue Service (IRS) auditor disallowed most of his travel and... read more
A good number cruncher is vital to your financial success. Should yours be an inside employee or an outside professional? Many small business owners don’t consider selecting an accountant to be a very important business decision. That can be a crucial mistake. I can tell you many stories in which my clients didn’t have the right accountant—and others in which... read more
