All too often a skilled plumber starts a plumbing business and does not make much money. This is not because they lack plumbing skills but because they need help with running a plumbing business. The answer is the Fix This Next method of managing a business. Just like when you confront a plumbing problem, you look for the most basic issue and fix that. Otherwise the problem will just come back again. When you use the Fix This Next approach to running your plumbing business you follow exactly the same approach.
The basis of the Fix This Next system is that there is a business hierarchy of needs. Starting at the beginning, you need sales. If you are not bringing in money, your plumbing business will fail. Next in importance is your profit level. Many plumbing businesses make lots of money but don’t see that realized on the bottom line. They are not managing things effectively and money is getting wasted. After sales and profits, the next most important issue is the effectiveness of the business side of your operations, the degree of order on the “office” side and your ability to identify, track, and optimize business issues.
Just like when you confront a plumbing problem, you need to be thorough and apply your knowledge of your trade to find the one problem that is causing all others. When you work with a Fix This Next coach like Exigo Business Solutions in the Kansas City area, you work with an experienced accounting firm that has helped find and address basis business issues for their clients for years. In regard to Fix This Next and sales, you may need to advertise more and better or you may need to look at your pricing. Maybe you are doing lots of business but not charging enough and maybe you are charging too much and driving business away. With the help of a competent Fix This Next coach you will figure out where the problem or problems lie, fix them, and put systems in place to make sure that the problem does not resurface.
A busy plumbing business with lots of sales should be a successful business but that is not always the case. If your profits do not reflect the amount and quality of work that you are doing use the Fix This Next approach to find the problems, fix them, and keep them fixed. Hidden costs are a common issue in any small business (companies with 100 employees or fewer). When you work with a Fix This Next coach who is also a top-of-the-line accountant, you will have someone at your side who has dealt with similar situations many times before. You will be able to ferret out the reasons for lagging profits and institute the measures needed to fix them. In this regard, your Fix This Next coach will often suggest that you use tools like QuickBooks custom reports to better identify and track business issues and the Profit First system that guarantees steady profits from day one.
When you are doing plumbing jobs and then come back to your office to put out repeated “brush fires,” you rarely have an efficient business side of your operations. With an experienced accountant at your side who is also a certified Fix This Next coach, you will be able to put in place business systems that help you see what is going on in your business, where the problems are, and where opportunities lie. This step in dealing with your business hierarchy of needs is necessary to make sure that those sales and profit issues stay under control and that you are not constantly deluged with minor issues that distract you from your real work of doing plumbing! The more efficient your business systems are, the better and more profitably you will be able to manage your plumbing business.
For more information about how Fix This Next can help with running a plumbing business, contact us at Exigo Business Solutions.