TAG: Profit Power

Profit Power: Getting your No. 2 to be the leader you need

July 19, 2017By

A good No. 2 employee is like a good irrigation system. It covers all the ground you need covered, and keeps your business green and flourishing, even when you’re away. The test of how well your irrigation system has you covered is when you hit a hot, dry patch of weather. The same goes for your company. You know what... read more

Profit Power: What a difference 5 percent makes

April 19, 2017By

  What if you could add 5 percent net profit to your bottom line, increase your personal income by 5 percent of sales or improve cash flow by a full 5 percentage points? What kind of difference would that make in your business or life? It’s worth asking yourself that question, because making that level of improvement is easier than... read more

Profit Power: Tales of a fast-growth company

February 23, 2017By

  This past week I was honored to have Trent Haston come speak to my Leader’s Edge peer group meeting in Charlotte, N.C. He is president and CEO of The Roby Family of Cos., which includes Andrew Roby, a fast-growing full-service, residential contracting company approaching $50 million in annual revenue. He and his brother have grown their third-generation business from... read more

Profit Power: Are you paying your employees too little?

December 21, 2016By

Did you know that many high-profit companies pay their top employees above industry norms? In spite of the upward trend in pay rates driven by the H-2B program, I see contractors continuing to struggle to find great employees. But maybe they’re not paying enough to attract the right prospects? Last month I invited Verne Harnish (founder of Young Entrepreneurs’ Organization,... read more

Profit Power: Are you addicted to growth?

November 22, 2016By

  There was a time in my contracting business where my company’s profitability needed a big improvement, and we discussed internally if we had to grow, stay the same or shrink to improve profitability. It was a fierce debate about what actually drives profitability. As an entrepreneur, it’s hard to pause growth—even for a year. But it was the right... read more

Profit Power: Beware of head trash

November 1, 2016By

As I travel the world talking with landscape contractors in Canada, the U.S., Bermuda and Europe, I find some common themes for both success and barriers to success. While it’s common to blame the government, elections and others for a poor economy and bad policies, there are still landscape entrepreneurs succeeding. Conversely, there are entrepreneurs held back by their own... read more