Financial Management Archives - Page 2 of 8

Personal Wealth Building for Business Owners with George Kall-[Best of Powertips Unscripted]

August 25, 2022 00:27:25

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

Unfortunately, it’s something that many 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 owns Metro Building and Remodeling Group, a Design-Build firm 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 implement it.
Setting aside money for your family.
Planning for uncertain times.
Obtaining financing for the business.

Recession-Proofing Your Company with Dave Edwards- [Best of Powertips Unscripted]

July 28, 2022 00:42:24

It’s easy to be successful in a great economy. You can get away with a lot of bad habits, lack of systems, and high overhead when jobs are large and margins high. But when the economy contracts, job sizes shrink, and margins erode, those bad habits can have a huge affect on the health of your company. Focusing on the right things when times are good are key to recession-proofing your business.

In this episode, Dave Edwards talks to Victoria and Mark about the lessons he learned and the changes he made to create a healthy company following the last recession, and how that positions it to survive and even thrive in the next downturn.

Dave is the founder and president of Earth Bound Homes, a home-building and remodeling company in San Jose, CA. Before he joined Remodelers Advantage Roundtables in 2014, Dave spent 12 years learning all the different ways to not build and run a profitable construction company.

His path to recession-proofing his company came after watching other remodelers and builders go out of business in the last recession. After his company almost went bankrupt in 2011, he joined Roundtables and also went to counseling. He talks about his path to success in business and in his personal life, and how he has built a company that can withstand an economic downturn, including:

His metrics for success
Recognizing when someone else has better ideas, and running with them
The Stop/Start meeting to improve the company
Making project management a source of income
Identifying bad habits and how to fix them
How unbilled labor can cut into your profits
Why he cut his field staff to boost his revenue
And more …

Best of Powertips: Double Revenue by Focusing on Less with David Wood

June 30, 2022 00:23:40

The “Shiny Object Syndrome” can be easy to fall victim to in remodeling. With so many goals of success, there are a lot of “shiny objects” that can distract remodelers from reaching their full potential. How do you avoid them? Guest David Wood joins the show to share the five steps to success and doubling revenue in less time.

David Wood is the CEO of Focus.CEO and his goal is to create the world’s largest coaching business. He now coaches rock star entrepreneurs to double their revenue faster, overcome Shiny Object Syndrome, and be a more extraordinary entrepreneur and human.

Victoria, Mark and David talk more about:

Why the “Shiny Object Syndrome” is an epidemic among entrepreneurs
Why choosing the right goals and plan is so important
Going from “Shiny Object Syndrome” to peaceful, focused action
The five steps to doubling revenue in less time
And more…

Best of PowerTips: Creating your Business Exit Roadmap with Ashley Micciche

June 16, 2022 00:28:59

Did you know that 81% of business owners want to stop working in their business in the next 10 years?

Yet, most business owners are paralyzed and doing nothing about their exit, because the process seems overwhelming to the point that they don’t know where to begin. So, how does one focus on their business while planning an exit? Guest Ashley Micciche has the answer.

Ashley Micciche is the co-owner and CEO of True North Retirement Advisors in Clackamas, Oregon. She specializes in designing, building, and implementing custom-designed exit plans to help her business owner clients secure their final and most important business decision – the exit from their business.

Victoria and Ashley talk more about:

Understanding how to pick an ideal successor
Determining post-exit financial needs
Establishing a target departure date
And more…

Click Here to Access the Business Valuation Tool

Finish Big, by Bo Burlingham, is the book Victoria referenced during the show.

Are You Ready for Remodelers Summit '22?

This highly celebrated event is the remodeling industry’s premier educational conference, and it sells out EVERY YEAR!

Join over 700 high performing remodeling professionals and experience the Power of Summit, including:

3 Distinguished Keynotes
40 Visionary Speakers
36 High-octane Workshops
28 Industry Leading Success Partners
A Legendary Welcome Party. This Year it Will Have an 80s Theme!
And Much, Much More…

Ep.187: Building Freedom as a Construction Professional with David Gerstel

June 2, 2022 00:29:19

Guest David Gerstel joins the show to talk about his new book Building Freedom: A Construction Pro’s Path to Financial Independence. David also discusses topics including being lean and frugal, and having an employee centered company.

David Gerstel has over 50 years of experience in the construction industry, and is the author of many books including Nail Your Numbers and his new book Building Freedom: A Construction Pro’s Path to Financial Independence.

Victoria, Mark, and David talk more about:

Financial Freedom and Independence
Having an employee centered company
Thought remodeling
And more…….

Ep.181: 3 Key Lessons Remodelers Can Learn From a Serial Tech Founder with Justin Goldman

April 14, 2022 00:28:35

Company building in the fast paced venture backed technology world has quickly evolved over the past two decades. In countless conversations with remodelers over the past four years since starting RenoFi, guest Justin Goldman has identified a few of the best practices from the startup world that can benefit remodelers.

Justin Goldman is RenoFi’s CEO and Co-founder. His own home renovation was made possible by a RenoFi Loan, a unique financial product he created for homeowners just like him.

Victoria, Mark and Justin talk more about:

Financing renovation projects
An outsider’s perspective on remodeling
And more…

We are excited to welcome our newest Annual Sponsor of Remodelers Advantage, and our Sponsor of this episode of Powertips Unscripted!

Episode 179: Managing Inflation’s Impact on Your Business with Mischa Fisher

March 24, 2022 00:25:30

Overseas conflicts are impacting gas prices while we’re already facing high inflation rates. The cost to run your business has increased at a time when you’re already short-staffed. It’s a challenging environment to be a home services business owner, but demand is high and opportunity is great. Guest Mischa Fisher joins us to talk about some ways businesses are adapting to overcome the challenges and take advantage of the opportunities of today’s market.

Mischa is the Chief Economist at Angi, leading market research on consumer spending behavior, labor market dynamics and residential housing trends. He’s here to talk about rising costs – how they’ve changed and what you can do to manage your business through this volatile period.

Victoria, Mark and Mischa talk more about:

The impact of rising interest rates on the remodeling industry
Expectations for prices moving forward
Adapting to these changing prices
And more…

Ep.173: [Unscripted Back-Up] How to Achieve Consistency in Revenue and Profit with Andy Haste

January 20, 2022 00:28:12

In today’s episode of PowerTips Unscripted, we are featuring one of our more popular episodes. If you have topic ideas for an episode or a guest we should be interviewing, send an email to victoria@remodelersadvantage.com. Enjoy!

Guest Andy Haste is among one of Remodelers Advantages most successful members, and he attributes that success to consistency and profitability. But, how does one achieve consistent profits in such an unpredictable, and inconsistent industry such as remodeling?

This episode shares tips, tactics, and techniques to effectively set the goals and budgets to reach, and maintain consistent profit in such an inconsistent industry.

Andy is the president of Riverside Construction in West Lafayette, Indiana, and has been part of the Remodelers Advantage Roundtable community for many years. He has 15 years of experience in the business supplies industry and values the privilege of working alongside homeowners, exploring creative ways to turn their homes into personal living spaces that will be loved for years to come.

Victoria, Mark and Andy talk more about:

Why remodelers may have problems maintaining consistency
Embedding a good philosophy with your team
The challenges that come with maintaining consistency
And more…

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Ep.166: Why It’s Critical to Invest in The Next Generation with Andrew Schmidt

November 11, 2021 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…

You’ve Built An Amazing Business… Now What?

Are you personally ready for what should be the happiest day of your life?

Click Here to complete the ValueBuilder PREScore Questionnaire and receive a detailed report as a measure of your personal readiness to exit your business: this includes a summary of unseen factors that could lead to regret.

[Click Here to Take the PREScore Assessment]

Ep.165: The Top 3 Deductions Your CPA Never Told You About with “The Tax Goddess”

November 4, 2021 00:31:21

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…

Financial Management