Financial Management

Ep.130: The Rise of the Controller with Jackie Shaw

What will accounting and administration departments look like in five years? With advancements in technology and the shift towards an outsourced “gig economy,” the change is coming and the decisions you make now are critical to preparing for that change.

To look further into how the world of accounting and office administration is changing we welcome Jackie Shaw to the show.

In addition to being a long-standing and extremely popular Roundtables facilitator, Jackie is founder and principal consultant of Get Organized! whose mission is to increase the happiness in the world by helping business owners deal with accounting & administrative challenges. She is a nationally recognized presenter, consultant and QuickBooks Wizard.

Victoria, Mark and Jackie cover:

  • What accounting and administration departments will look like in 5 years.
  • What decisions you should be making (or not making) now to take advantage of technology advances and the gig economy.
  • Where owners are stumbling when making decisions about technology and staffing.
  • What a Controller position looks like currently and what it will be in 5 – 10 years.
  • What owners can do now to prepare for the change.
  • Pitfalls owners should watch out for in the next 5 years.
  • And more…

Check out Mark's New Book, Lobster on a Cheese Plate

As mentioned during this episode, make sure you check out Mark’s new book on marketing strategy, Lobster on a Cheese Plate. Plenty of great information for taking your company’s marketing to the next level. [Click here for more information & to order your copy!]

Ep.129: Are Your Employees Stealing From You? With Vicki Suiter

The latest statistics on fraud should be a wake-up call for every small business owner. According to a survey by HISCOX, a specialty insurance company, 80 percent of embezzlements occurred at small businesses and 30 percent involved a loss of more than $500,000.

With more work is being done remotely, including paying vendors and processing payroll, you must have controls and processes in place to avoid this happening to you.

In this episode, we welcome Vicki Suiter, who shares simple practices and processes to help you avoid accounting fraud and stealing in your business.

Since starting Suiter Business Builders in 1990, Vicki has helped hundreds of contractors and designers build solid foundations for their businesses, run operations more efficiently, and achieve the kind of success they never dreamed possible.

Vicki’s articles and opinions have been widely shared in print and across the web. She is also the author of book “The Profit Bleed” – How managing margin can save your contracting business.

Victoria, Mark and Vicki talk more about:

  • Why small businesses are targets in 80% of all embezzlement cases.
  • The most common place where people “steal” money.
  • Other ways employees and contacts embezzle funds from a company that are less obvious.
  • Recommended controls and practices a contractor should have in place to avoid this happening to them.
  • “10 Ways to Spot Accounting Fraud”

Here is the link to the resource mentioned, “How to Spot Accounting Fraud”
https://suiterbusinessbuilders.com/how-to-spot-accounting-fraud/

Check out Vicki's Book; The Profit Bleed

This book is a doable, step-by-step guide that will put money in your pocket, and more time and fun in your day. Learn how to keep your finger on the critical pulse points that drive success, depend on your employees to take ownership, close more deals while charging more money, and more! [Click Here to check out Vicki’s book on Amazon]

Ep.124: Applying What You Have Learned with John Lessick

Conferences, blog posts, podcasts, webinars, roundtables peer groups, consulting, coaching… information is everywhere.

But, just because you’re opening yourself up to these opportunities to learn, it doesn’t mean anything will ever change.

The hard part is what comes after you get the information. John Lessick joins Victoria and Mark to discuss how to take what you’re learning and applying it to make you and your business stronger.

John Lessick is the President and Owner of APEX Wood Floors, Inc. in Chicago, IL. In 1985, John joined APEX as an apprentice and spent nine years learning every facet of the business before purchasing the company in 1994. Thanks to his expertise and vision, the business has blossomed and evolved, growing from 5 employees to nearly 25 over the last 25 years.

Victoria, Mark and John cover:

  • How outside resources and advisors have helped.
  • How the 3-5 year plan that John has put together has helped his business.
  • Learning about and implementing LEAN process improvement.
  • Specific examples of how John has implemented changes in his business.
  • And more…

Helping Your Business Apply What You Have Learned

If you are interested to learn more about how the Business Consultants & Coaches at Remodelers Advantage can help you and your business, contact Doug Howard today.

Ep.122: Growing a High Volume Remodeling Business with Jake Schloegel

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 out in 1980 as a one-man company and has grown it, with the help of his team, to an operation exceeding $14 million of revenue annually. The company is now managed by Jake’s son, Charlie Schlegel and his business partner, Chris Peterson.

Jake has been a facilitator, instructor and facilitator 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:

  • Some background on Jake, his business and what prepared him for growth.
  • Who helped Jake in building the company.
  • The key components necessary for sustainable growth and the rewards.
  • Why Jake wanted to achieve high volume.
  • What Jake would do differently if he could have some do-overs.

This Episode Sponsored by: Builder Funnel

We are excited to have Builder Funnel joining us as a featured sponsor for PowerTips Unscripted. Spencer Powell and his team at Builder Funnel have been huge supporters of R/A and the remodeling community for years and it is great to have on board as a featured sponsor… Welcome, Builder Funnel!

Ep.121: Creating Your Own Economic Recovery with Wayne Ottum

Seemingly everywhere you turn these days, you hear the phrase “survive and thrive” as it relates to your business. But it takes more than a catch-phrase and a couple of tips to make it a reality.

In this episode, we talk to Wayne Ottum about how to get focused, get real, and get moving to take control and create an authentic plan to not just survive, but thrive, in uncertain times!

Wayne is president of Ottum Enterprises in Kirkland, Washington, and we’re excited to announce that Wayne is also the newest member of the Remodelers Advantage Consulting Team.

Wayne has over 3 decades of experience helping businesses and leaders be more focused, productive, and successful. His Lead from Strength methods and tools have guided those in the remodeling industry and other professional services firms to become extraordinary businesses and leaders.

In this episode, Victoria, Mark and Wayne Cover:

  • What drives you and your business? What are you passionate about
  • What “leading from strength,” means to a business owner.
  • Creating your own economic recovery.
  • What “Get focused, get real, and get moving” means.

Upcoming FREE Webinar:
If you would like to hear more from Wayne and our team of business consultants and coaches, we will be hosting a FREE Webinar on September 9th; Riding The Wave – Accelerating Pre-Production to Meet Today’s High Demand. Wayne will join Doug Howard, Tim Faller and Steve Wheeler for this 90-minute presentation about how to take advantage of this recent surge in business and preparing for success in 2021. Click Here for more and to reserve your seat.

This Episode Sponsored by: Builder Funnel

We are excited to have Builder Funnel joining us as a featured sponsor for PowerTips Unscripted. Spencer Powell and his team at Builder Funnel have been huge supporters of R/A and the remodeling community for years and it is great to have on board as a featured sponsor… Welcome, Builder Funnel!

Ep.120: Personal Wealth Building for Business Owners with George Kall

As a remodeling business owner, building wealth and financial security is something everyone wants to achieve.

Unfortunately, it’s something that many of us put off because the needs of today are more pressing, especially with the current market.

In this episode, Victoria and Mark talk to George Kall about tips and advice on planning for your future financial security today.

George is the owner of Metro Building and Remodeling Group, a Design-Build firm just outside of Washington DC in Ashburn, VA. George started the company seven years ago and now employs a team of 9 and was recently ranked #107 on this year’s Remodeling Magazines list of largest remodelers.

Victoria, Mark and George talk more about:

  • Establishing a company 401k and how you personally implement it for you and your family.
  • Setting aside money for your family.
  • Planning for uncertain times like we are in now.
  • Using credit cards and obtaining loans for the business.
  • One suggestion for personal wealth building

This Episode Sponsored by: Builder Funnel

We are excited to have Builder Funnel joining us as a featured sponsor for PowerTips Unscripted. Spencer Powell and his team at Builder Funnel have been huge supporters of R/A and the remodeling community for years and it is great to have on board as a featured sponsor… Welcome, Builder Funnel!

Ep.119: Creating Rapid Financial Results and Lasting Cultural Change with Steve Baker

“The high cost of replacing employees means it’s important to find ways to retain the best performers, and studies show that transparency from the top can be a solution, boosting employee engagement and motivation.

One way to achieve that transparency is to show employees the company’s numbers and teach them the business. Why not get them in the same game as the owner?

The strategy is to create a business of business people. Then and only then will they begin to make a connection to the numbers that measure their performance and talk intelligently about improving the business.”

– Steve Baker

Steve Baker joins Victoria and Mark to talk more about the benefits and advantages of open book management, as well as some of the challenges that business owners face.

Steve is Vice President of The Great Game of Business, Inc. and co-authored Get in the Game as well as the update of the number one bestseller, The Great Game of Business—20th Anniversary Edition.

Known for his engaging and irreverent style, Steve is a top-rated, sought-after speaker and coach on open-book management, strategy and execution, leadership, and employee engagement.

Victoria, Mark and Steve talk more about:

  • The best reasons that a business owner should teach their people business
  • Common perceptions that employees have of ownership when there isn’t open-book transparency
  • How employees can benefit from an open-book policy
  • How you can get started
  • And more…

Resources mentioned in this Episode:

The Great Game of Business

Download the Get in the Game Audiobook

R/A Lumber Yard Run Calculator 

This Episode Sponsored by: Wellborn Cabinet

Wellborn Cabinet is the featured sponsor for this episode of PowerTips Unscripted. Thank you, Wellborn Cabinet!

Ep.112: Discovering New Revenue Streams With Chris Landis

We are all so busy running our businesses that we often don’t realize that there are other potential revenue-generating investments that align with our present and future business needs.

Chris Landis thinks you should consider helping businesses that lease their office space as an added revenue stream.

In this episode, Victoria, Mark and Chris talk more about this innovative revenue source.

Chris is a Principal owner of Landis Architects/Builders in Washington, DC and is a member of the AIA, with 28 years of experience in residential architecture. Landis Architects/Builders is one of the top Washington, DC renovation and remodeling firms and is co-owned by Chris and his brother, Ethan Landis.

In this episode, Victoria, Mark and Chris cover:

  • The benefits, opportunities and challenges of owning your own building.
  • Offering space in your building to other business.
  • What is involved in becoming a landlord.
  • How these deals are structured financially and timelines involved.
  • How you can pass this knowledge onto other business owners.

Ep.107: How to Know When to Trust Your Gut

We’ve all had a gut instinct at one time or another. But do you trust your gut? Do you often rely on your intuition when making decisions? How do you know when you should follow your gut, even if the data suggests another approach?

In this episode, Victoria and Mark discuss what intuition is and how to know when you should follow your gut when making important decisions. The guidelines they discuss will help you understand more about decision making and how your brain creates the patterns that guide you.

Tell everyone you know about PowerTips Unscripted!

As always, if you have a topic that you would like us to cover or know of an industry contact, author or thought-leader that you think others would like to hear from, let us know.

If you’re enjoying our PowerTips Unscripted podcast, please spread the word and post reviews on iTunes, Spotify and Stitcher.

Ep.104: [Unscripted Back-Up] How to Hit Healthy Net Profits in any Economic Climate with Mike Medford Sr.

Editor’s note: We’re all working from our homes, away from the friendly confines of the office and its podcasting studio. So we dug into the virtual vault to bring you this episode. We’re in an uncertain time for many remodelers, so here’s some advice that will help you weather any business climate.

One of our core principles is that remodeling companies should make a good net profit, after paying the owners an above-average salary. When the economy’s booming, you can get away with a lot and still hit those goals, sometimes by accident. But the goal is to get those healthy net profits consistently, year after year, even in a downturn.

In this episode, Mike Medford Sr. talks to Victoria and Mark about how to do just that. Before seeing the metrics of the Top Ten Roundtables members a few years ago, Mike says his financials were always in flux. But then he took those figures and made them hard targets.

Mike Medford Sr. has been a home remodeling contractor for over 40 years. In 2007, he partnered with his son, Mike Jr. to form what is now Medford Design Build, with offices in Colleyville and Arlington, TX. Mike Sr. is the president of Medford Design Build.

Mike challenged himself and his team to hit the new fixed targets. He refined their processes and challenged his team to hit those targets. By the next quarterly meeting, the company’s profits were rising. He talks about how he and his team made it happen, including:

  • Creating a profit-centric culture
  • How net profits will help you beat the labor shortage
  • Focusing your staff on gross profit
  • The importance of open books to the process
  • Setting up a bonus structure
  • Building time in to plan
  • And more…

Mike also talks about getting back to the art of contracting and how important that is to your margins.

Time to Give Back

After more than 30 years of working with some of the finest Remodelers and Renovators in the business, we are facing new challenges in our industry. We want to give back to an industry that has supported us through good times and bad, and so we’ve created Build Aid, a free event to help support our members, associates, and friends in the remodeling community.

Join us on April 1-2 as we explore various ways your business can navigate these tough times, and position yourselves as a leader when the world begins to recover and re-build.
Click Here to Learn More & Register >>

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