Charging What You are Worth
I speak with plumbers everyday and one of the questions I ask is, “Are you charging what you are worth?” First, many do not know their costs. They no idea if they are making money. They don’t know because...
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The Plumber’s Greatest Disappointment
Almost every day, I come across a tired plumber like you who decides to hang up the wrenches and retire. “I will just sell my business and that will be my retirement” you say. Then the greatest disappointment in...
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The Magic Number
What do you track on a daily basis? Probably the revenue brought in is first on the list. The money does pay the bills, but that is not all you should be tracking. Below are some items you should...
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Marketing Money
Years ago, a plumbing company would purchase the largest ad they could afford in the Yellow Pages and the phone would ring. As a matter of fact, many new plumbing companies would not open their doors until the Yellow...
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Your Business Sucks
This morning I got an inquiry through my website. The business owner was interested in Financials, Operations, and Staffing. Then there was the question, “What is your consultation rate per hour?” My response was “I really don’t have one,”...
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Managing Accounts Receivable
If you are a plumber, there are several great reasons to do residential service work. First, there is always a need. Every city and town have a wide variety of housing, from brand new to possibly over 100 years...
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What is Your Cash Flow Ratio?
Another year is basically in the books. If you own a plumbing company, this should have been your best year ever! There was more work that anyone could handle. If only we could find a few more plumbers so...
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Communication is Key!
Do you have a system of running a service call? Have you ever ridden with your technicians to see what they actually do? How well do your techs communicate with your office? Have you ever thought that they communicate...
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