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How Long Does It Take To Build An
Average Car? Well, the car manufacturers will tell you, according to data published on 6-11-04, it takes an average of 35 hours. This is a new record low for the USA. So if they know their hours why don't they charge by the hour? If they did, there would be no incentive to become fast and more efficient. Why do you charge by the hour? Have you ever wondered why the better you and your company get, the less you seem to be making? Learn more . . . |
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Get a Profit & Loss Statement that represents the top 20%
of the HVAC industry. Compare it to your company's and see how you are doing.
This is just an example of the many free documents designed to help manage your contracting business.
Click Here to view all Free Documents.
Fast business Tips By
James R. Leichter Business owners are famous for their reluctance to delegate and give-up power. If a task can be done by someone else 75% as well as you can do it, train them and let them do it. Owners always think they are the only ones that can do it right. That’s only true if you are not absolutely dedicated to training. Calculate your company’s Quick Ratio. One of the most important financial tests you can make is to compare your cash on hand with your current liabilities. Sometimes called the Acid Test, the formula is Cash / Current Liabilities. Your Quick Ratio should typically be about 1.5. In other words, you should have $1.50 for every $1.00 in current liabilities. There is a formula that managers use to calculate how much money they should have in the bank but here is a good rule of thumb. Your bank accounts should equal about 10% of your company’s annual sales. If you do $1,000,000 in sales, you should maintain about $100,000 in your bank accounts. The two business books I recommend most are The One Minute Manager and The E-Myth Revisited. They are mandatory reading and can be purchased at almost any book store. If a truck sells an item four or more times per year, consider stocking it. Create a truck stock list for each truck that includes these items. Make the list specific for each truck depending on the function of that truck (IE: Service or Installation, etc.). Include the part number, description, retail price (if on time and materials) desired quantity to stock, and primary vendor. We also recommend that you indicate the season(s) the item is to be carried on the truck. Establish a tool list for each technician. These are tools that technicians must have to maintain employment, get raises, and receive promotions. Be specific with size, brand, etc. Check for compliance at least twice per year. Consider tying it in with annual reviews. Loan employees money to get in compliance. |
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| Latest Articles |
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Learn How to Manage Like a Head Coach "I really think the biggest problem with contractors is that they run their businesses like a captain runs their ship. They have full control over everything, everybody, all the time. Most successful CEOs (that's what you are trying to become) have adopted a "head coach" style of management. Your role is to be the best teacher your employees have ever had. Your job is NOT being the biggest hard *ss, best tech, sales person, or what ever the company has ever had. Remember, work on your company and not in it." Says James R. Leichter, President and CEO of Aptora. and founder of MrHVAC.com.
Flat Rate Pricing is a Requirement Closing a Deal
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| Service Management Software |
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Total Office Manager®
Organize your office with this award-winning accounting and management software.
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| Flat Rate Pricing Software |
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You should be making a fortune in service! It's
the most stressful part of operating your own business, and it creates the most
overhead.
Why wait before going to Flat Rate Pricing? Call 866-267-4822 to order or just to get information. You may also order online anytime you wish. |
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From time to time we run specials just for those who order products
on our web site. Click Here for details on our current offer(s). |
| NEW Product Catalog |
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Our new software and product catalog is available.
It's bigger and better than ever. Click Here or call us toll-free at 866-267-4822 to order one. |
| How Much Money Do You Really Make? |
| Would you be better off selling out and getting a job? Use our Hourly Wage Calculator to figure out how much money you are really making. You may not like it! |
| Retail Price Calculator |
| Our management consultants have worked with our computer geeks to create an online Financial Calculator. It will tell you what to charge for labor, and how to markup materials based on your individual overhead and profit objectives. It will even break out your company's overhead by department. The best part is it's free! |
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Sponsored By:
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Conversion Plus is a handy and very thorough conversion calculator. It converts metric values to U.S. and vice versa. It also converts many other common values to related values - over 100 in all. Click Here For Details.
Heat Gain and Loss Short Form On-Line
Try our new Heat Gain and Loss Short Form Load Calculator. It is an on-line calculator that allows you to calculate heating and cooling requirements for residential and simple, light commercial applications. It's free!