@PrivatEquityGuy 13. Does gross margin by job ever make it into the board deck? If you only see it rolled up monthly, the portco can be underwater on its biggest jobs and EBITDA won't tell you until the covenant does.
@sbabmarks the payment that starts in month 25 is the one I'd be modeling on the day of close. by then the seller's out of the building and whatever he was putting off on the equipment has come due too.
@ClintFiore Question two never gets an honest answer. It's always retirement or the grandkids, and then you get in there and find he hasn't taken a real paycheck in fourteen months and the line of credit's been maxed since spring, and it's clear he'd been trying to get out for years.
@sweatystartup I've never once been called into a company because the idea was bad. The idea is almost always fine. What's missing is one person, one number, and a meeting every week where nobody gets to explain it away.
@WilsonCompanies The discount at sale is the cheap part. The expensive part is the years before it, when the company grew exactly as fast as your calendar allowed, and anything over a certain dollar amount had to cross one desk.
You think you have a CFO, but you probably don’t.
Owners have difficulty distinguishing between the two and hand out the ‘CFO’ title to their accountant. That’s just wrong.
https://t.co/eswWyDrXbJ
While things are not looking good for residential construction, nonresidential work seems to be raking it for the start of 2023.
For all of 2022, total construction starts were 15% higher than a year earlier:
https://t.co/ulWZROhUvG
#Construction#Residential#NonResidential
Over the past few weeks, the demand for new trucks has been at an all-time high.
While demand is growing, it's crucial that you expand operations carefully.
Check out the guide below for tips on how to compete for drivers against Walmart and Amazon:
https://t.co/2sTMxXuwZ7
Last week I was honored to sit with the United States Conference of Mayors on the Small Business Task Force.
We discussed how mayors can provide key resources and knowledge to local businesses and entrepreneurship in their communities:
https://t.co/HAai0pApov
The U.S. Conference of Mayors honored our late founder George Cloutier with the “Award for Excellence by Small Business Leadership.”
I feel honored to be a part of a company that has impacted so many lives.
I'd like to thank the USCM for recognizing George's work and legacy:
Any owner can recession-proof their business, no matter what the economy looks like.
- Collect all receivables and have a mountain of cash
- Talk with your team
- Communicate with customers, suppliers, and vendors
#Recession#Liquidity#Communication#Business
Every now and again, opportunities will present themselves both in business and in life.
But before capitalizing on opportunities, ensure your business is in a good place.
See why you shouldn't bite off more than you can chew:
https://t.co/NLafidYBSX
When it comes to your business, don't wait until the New Year to make improvements.
Most think of history-changing moments when the term 'innovate' is thrown around.
But innovation can be as simple as having a clear and common long-term goal with actionable steps!
When they start to expand, many owners simply hire someone to solve their problems.
But having the right people without a disciplined system does not work as the business grows.
See how a systems-over-people approach can save you time and money:
Know your numbers by heart. If you run a company, this should be as familiar to you as the back of your hand!
This allows you to fix problems before they start and lets you run your business, not have it run you:
https://t.co/Mc6GIEC0MQ
#KPIs#KnowYourNumbers#Leadership
When you break it down, the sport of soccer is no different than that of business.
You must:
-Master the sport
-Delve into the strategies and tactics
-Deliver the highest quality
And it doesn’t matter how big or small your team is!
#WorldCup#Business#Growth#Development
We were looking for ways to improve communication, and found a solution that has brought entire departments together and has doubled our productivity...
The DISC Test.
Check out this case study which explains how it can improve communication:
https://t.co/xJcDQd0mA6
The best family business is that with only one family member.
If you’re considering hiring a family member, ask yourself if they are qualified for the role you’re considering putting them in:
https://t.co/jv2M5wUaOy
#FamilyBusiness#WorkingWithFamily#Accountability
Last week, Amazon lost so much market cap that it dropped below a trillion dollars in value.
If you have a business that relies on Amazon, you might already feel the effects .
Here's how to make the best of it and increase your business' resilience:
https://t.co/LW4eaUYOEL