We cannot control external occurrences, like the economy or the weather, but we can control our response to what happens. We have experienced an extended boom in the Landscape Industry, so what we might be experiencing now is business as usual, (in other words the boom has subsided). I know tougher economic times are a great opportunity for every business owner to focus on their business and move ahead in a positive dynamic way. Here are some concepts and strategies you can use to ensure you

STEP 1: Analyse Your 2023 P&L At this time of year, I analyse my clients' P&L from last year and check the critical percentages of materials costs, site wages, superannuation, and subcontractors costs. In other words, I see if their gross profit is what it should be. Similarly, we will check the maintenance and design costs, as well as the running expenses of the company. If you do this and find material costs are 10% higher than the benchmark, you may need to increase the mark-up on

A Profit Share System for key employees? Why didn’t I think of that?! Thankfully many of us have some great employees working with us at the moment, which is why employee retention and job satisfaction probably continue to remain high on our list of priorities. One employee retention strategy that I like is the Profit Share System (PSS). I developed a system for the landscape industry years ago, after using one for years in my previous business. When you get a PSS right, it contributes significantly to

To assist business owners in preparing their businesses for the economic downturn that we are experiencing, here is some information collated from Government websites to help clarify the key pieces of information that company Directors need to know. Employees Speak to your employees regarding a possible shutdown of your business in the coming weeks. Explain the seriousness of the virus and that we all must do what we can to stop the spread. Mention that Centrelink payments can be received and superannuation can be accessed to help

Business automation is creating greater efficiency, saving time and money, and allowing the transferal and reporting of information to be more accurate. Let's have a look at some the areas we could be utilising business automation via simple software/app technologies. Scheduling Most of us are probably utilising our computer calendars (Apple or Windows) every day to book business meetings. It wasn’t that long ago when we were using a paper diary. I remember, when I made the transfer from a paper diary to my Windows diary. It took

Now that you are back running your business, it is the perfect time to think about what you want to see happen throughout the year. Set One Major Goal for the Next 12 Months If you could achieve anything in your business this year, what major achievement would put a massive smile on your face and allow you to feel this year has been great? Often when we think about a major goal, we might talk ourselves out of going for it because we find many reasons why

We all decide to run our own business for many reasons, but we also want to earn a worthwhile return on investment (wages and net profit), so to ensure that happens, we must understand our financials and regularly monitor and manage them. To understand the money side of your business, you don’t have to be a financial expert, you just need to work with a good bookkeeper to help you set up, analyse and monitor the necessary reports regularly. The pay-off will be more peace of

Some of our decisions have a positive immediate impact of our business and others may not be noticed for some time. The same goes for decisions that have a negative impact. In this article, I will give a few examples of how our bigger decisions can affect our business in a positive and negative way and what changes you can make so you benefit. Refusing to increase your Prices Let’s say you run a maintenance business and would like to earn more money per client. A decision to

It is important when running a business to be able to know at any time how well your business is progressing toward your goals. Some owners may say, “if I am getting lots of enquiries or doing lots of quotes things are going well”. Others will say “if we are booked up 3 months in advance, we are going well”. But wouldn’t it be great if you had a number that could tell you more accurately if your business is on track to hit your

With a construction boom in full swing in Sydney at the moment and just 10 weeks to go till Xmas you are probably fully booked with construction projects and/or maintenance clients. So how do you make the most of this period? Put prospects under pressure to sign Most of you will have full schedules till Xmas but in case you don’t let your prospects know that if they don’t sign off on the project/makeover now, they will have buckleys getting it done before Xmas. Sign clients for

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