Financial Management

Using the Financial Review to Pivot to Profitability with Michael Hodgin – [Best of PowerTips Unscripted]

August 24, 2023 Business Management, Financial Management 0:38:49

Today on PowerTips Unscripted, Mark and Victoria are joined by Michael Hodgin to discuss using the financial review to pivot to profitability. A complete understanding and review of your company’s financials is a practice that requires a disciplined effort. However, with this practice in place, an owner will be able to use the information from these reviews to pivot when and where necessary to be more profitable year over year.

Using his expertise as a former business owner and a business coach, Michael talks about how he examines a company’s financial statements, including what KPIs to review and whom to review the financials with.

Michael was an owner of a successful remodeling company for over 22 years. He has since left and is the owner of Maestro’s Toolbox, where he works with owners of design-build companies across the country to help them build better companies and, therefore, better lives.

In addition, Michael has been part of the roundtables as an owner, a facilitator for roundtables meetings, and part of the Remodelers Advantage Business Coaching team.

Victoria, Mark, and Michael talk more about:

  • When is it best to review financials
  • What should be getting reviewed
  • What is the next step after reviewing
  • And more…

Preparing a Successful Exit Strategy with Dave Leff – [Best of PowerTips Unscripted]

July 6, 2023 Business Management, Financial Management 0:35:49

Have you given any thought to your exit strategy? How are you going to leave your business when you’re ready to retire and enjoy your remaining years?

It is never too early to start, and you should really be planning for that day, no matter how many years you have left.

There are many options when it comes to planning a successful exit and our guest, Dave Leff, joins us to talk more about his process, one that he is closing on within the next few weeks.

Dave, President/CEO of Leff Construction – Design/Build, explored a number of different options over the past five years and ultimately determined that an Employee Stock Ownership Plan (ESOP) was the direction that provided the best outcome.

Victoria, Mark and Dave talk more about:

  • When Dave first started thinking about exiting his company.
  • The main things Dave did to prepare his exit strategy.
  • The main options Dave considered for your exiting and the pros and cons of each option.
  • The decision to go with the ESOP option.
  • How an ESOP works and the benefits and challenges.
  • And more…

What Dealers Say Behind Your Back with Bradley Hartmann – [Best of PowerTips Unscripted]

June 8, 2023 Business Management, Financial Management 0:37:30

Learning the best way to work with purchasing managers can help create great outcomes for both sides of the remodeling business.  With over a decade of experience in operations and purchasing for a national homebuilder, Bradley Hartmann has researched and found the importance of having purchasing sales teams devote their time exclusively focused on the specific needs and opportunities for remodelers. 

Bradley, founder and CEO of The Behind Your Back Sales Co., goes in depth about what suppliers really say behind your back on this episode of PowerTips Unscripted.

Mark, Victoria and Bradley talk more about:

  • Why it may feel like Remodelers are second-class citizens in the eyes of lumber and building material dealers
  • What suppliers are saying behind remodelers backs
  • The sales fundamentals missing from most remodelers
  • How Remodelers can best position themselves to get the best pricing and service from dealers
  • Questions Remodelers should ask to determine if they are the best fit for a specific supplier

Behavioral Finance: The Psychology of Financial Management with Jay Wheeler – [Best of PowerTips Unscripted]

May 11, 2023 Financial Management 00:33:13

It’s not about the money, rather the feelings the money can bring.

In this episode, Jay Wheeler dives into the psychology of financial management and investing in order to provide listeners with the potential reasons behind the way they may manage money. 

Whether it’s business or personal finances, Jay describes how to better manage your behavior surrounding spending.

Jay is the President of Wheeler Financial and while he provides traditional financial planning and investment advice, he believes the best value that he provides his clients is helping manage their behavior when it comes to money.  He also believes that there is a lot that goes into the decisions we make around our finances and that many of those decisions are based on emotions.

Victoria, Mark and Jay talk more about:

  • How behavioral finance differs from traditional financial management
  • Using behavior and emotions as a guide for choosing investments
  • How behavioral finance applies to investing
  • And more…

Why It’s Critical to Invest in The Next Generation with Andrew Schmidt – [Best of PowerTips Unscripted]

May 4, 2023 Business Management, Financial Management 00:25:27

The labor shortage has been a frequent topic on this show, and this episode is going to join the ranks.  Guest Andrew Schmidt is here to talk about AMEK’s apprentice and internship program, and the importance of investing in future generations.

Andrew and his twin brother started their business as roofing installers in 1996, and have grown into a leading design-build firm in Minneapolis and St Paul. They have vacillated over the years, from employing and training carpenters to using all subcontractors. Currently, AMEK operates a hybrid model of carpenters and subcontractors when the job dictates it.

Victoria, Mark and Andrew talk more about:

  • Hiring the right people
  • The training and development process
  • Creating an engaged culture
  • And more…

How to Make Huge Profits Without Clients with Andrew Schroeder – [Best of PowerTips Unscripted]

April 27, 2023 Business Management, Financial Management, Sales 00:37:56

Welcome to another episode of PowerTips Unscripted. This week, we go into the vault for an informative episode. Victoria and Mark talk to guest Andrew Schroeder about using your remodeling experience to grow your business by profitably flipping houses, minimizing the risks and maximizing the benefits, and the challenges of acting as your own client.

Whether you’re a seasoned professional in the remodeling industry or just starting, this episode is for you! Victoria and Mark dig deep with Andrew to uncover all the tips and tricks for success in the lucrative world of house flipping.

 

Andrew joined the Schroeder Design/Build team in 1999 and became owner in 2011. In addition to running SDB, Andrew volunteers time with the National Association of the Remodeling Industry (NARI).

Victoria, Mark, and Andrew talk more about:

  • Where to invest your time and money to get your best returns
  • How to fill your production pipeline without getting new clients
  • Determining your profit margins in real estate
  • And more…

Estate Planning 101 with Thomas Croessman – [PowerTips Unscripted] S4 E15

April 20, 2023 Financial Management 00:24:58

Today on PowerTips Unscripted, Thomas Croessman joins the show to discuss the need for small business owners to plan for their company’s transition in their estate plan.  While your business might be humming along now, how will it perform if you’re not around? Unfortunately, most small businesses only survive the first generation because of estate planning and communication failures. Thomas explains Wills, Powers of Attorney, and Trusts, when those documents become effective. He also gives some practical tips to help the transition go smoothly.

Thomas Croessmann is the Managing Partner of Croessmann & Westberg, P.C., a construction law firm in the DC area. The firm is a full-service law firm for construction contractors.

Thomas, Victoria, and Mark talk more about:

  • What is an Estate Plan?
  • What is Power of Attorney, and when is it used?
  • And more…

The Top 3 Deductions Your CPA Never Told You About with “The Tax Goddess” – [Best of PowerTips Unscripted]

February 16, 2023 Business Management, Financial Management 00:32:29

Are you looking for innovative tax strategies to reduce you or your clients’ tax burden? 

Or, simply sick of paying more than you need to in taxes? Then tune into this episode to hear vital information that you won’t want to miss! Guest Shauna Wekherlien, CPA provides proven, legal, effective, and easy strategies that any audience member can implement to keep more of their hard-earned money.  

Shauna is the founder and business owner of Tax Goddess, a company ranked in the top 1% of all tax strategists in the USA. The team at Tax Goddess is committed to helping clients reduce their tax burden to the bare legal minimum with proven strategies that are guaranteed to save thousands off of tax bills each year.

Victoria, Mark, and Shauna talk more about:

  • The difference between a CPA and a Tax Strategist
  • The most commonly missed deductions
  • The types of business owners that can benefit from a Strategic Tax Coaching Program
  • And more…

Using the Financial Review to Pivot to Profitability with Michael Hodgin – [PowerTips Unscripted S4 E9]

January 12, 2023 Financial Management 00:38:49

Today on PowerTips Unscripted, Mark and Victoria are joined by Michael Hodgin to discuss using the financial review to pivot to profitability. A complete understanding and review of your company’s financials is a practice that requires a disciplined effort. However, with this practice in place, an owner will be able to use the information from these reviews to pivot when and where necessary to be more profitable year over year. Using his expertise as a former business owner and a business coach, Michael talks about how he examines a company’s financial statements, including what KPIs to review and whom to review the financials with.

Michael was an owner of a successful remodeling company for over 22 years. He has since left and is the owner of Maestro’s Toolbox, where he works with owners of design-build companies across the country to help them build better companies and, therefore, better lives. In addition, Michael has been part of the roundtables as an owner, a facilitator for roundtables meetings, and part of the Remodelers Advantage Business Coaching team.

Victoria, Mark, and Michael talk more about:

  • When is it best to review financials
  • What should be getting reviewed
  • What is the next step after reviewing
  • And more…

Growing a High Volume Remodeling Business with Jake Schloegel- [Best of Powertips Unscrpited]

September 1, 2022 Business Management, Financial Management, Marketing, Production, Sales 00:24:49

Many remodelers dream of one day building a high-volume remodeling company. Others aren’t sure it’s worth the effort.

In this episode, we talk to Jake Schloegel about what it takes to grow a high-volume remodeling business. Why build it? Who should be involved? What are the expectations?

Jake is the Founder of Schloegel Design Remodel, an award-winning Design/Build firm in Kansas City. He started in 1980 as a one-person company and has grown it, with the help of his team, to an operation exceeding $14 million in revenue annually. The company is now managed by Jake’s son, Charlie Schlegel, and his business partner, Chris Peterson.

Jake has been a facilitator and instructor for Remodelers Advantage for years and is very active in the remodeling community, having served as president of NARI from 1990 through 1992.

Victoria, Mark, and Jake talk more about:

  • Jake’s business and what prepared him for growth.
  • Who helped Jake in building the company?
  • The key components necessary for sustainable growth.
  • Why Jake wanted to achieve high volume.
  • What Jake would do differently if he could have some do-overs.
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MASTER NAVIGATION

This website is part of the Remodelers Advantage Network.

Visit our other properties: