Profitability expert
for construction
trades
Focus on profit before sales to create
a business that can stand the test of time.
LAURA PATTON
AWARD-WINNING FINANCIAL PLANNER.
SPEAKER. AUTHOR.
I spent 20 years in the electrical industry, have over 15 years of accounting experience and am an award-winning financial planner, providing me with unique expertise to help contractors be most profitable.
If you or someone you know have a great success story, please click the link below for details on how to share it with me for your chance to be featured in my upcoming book.
Interviews will be ongoing but the deadline for submissions is February 28, 2019. Don’t miss your
chance!
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Join The Profit Ability Facebook Page
The mobile nature and traditionally long hours of contractors makes it a particularly hard industry for business owners to collaborate and share information. Having a company in this industry is also very different from any other, making it frustratingly difficult to find financial professionals who can help you be successful.
This isolation and lack of understanding requires most people who start businesses in this industry to recreate the wheel each time with varying degrees of success.
To help support contractors in Canada, I have created a Facebook group where business owners can ask each other questions and share information. Additionally, I’ll be in there sharing best practices, answering questions and providing profitability tips.
See you there!
Presenting the
ONE DAY workshop for business success!
With this in mind, I created The Profitability Programme. A fun and informative one day, four-part workshop, where I break small business down into 16 crucial pieces that all successful owners need to understand, at least a little bit, to be successful.
{While this workshop was written for construction trades, small business owners of all kinds have attended and changed the way they run their business!}
WHAT PEOPLE ARE SAYING...
I can't believe how much I learned in one day! I can't believe how much I didn't learn on my own in 20 years!
~ Home Builder, Alberta
Ahhhh! It's all coming together now! I have a BComm and I learned more about running a business from you in one day than I did in three years of accounting at university!
~ Small Business Owner, Manitoba
If I had taken your workshop two years ago, I think I could've saved my last business!
~ Contractor, Alberta
PROFIT before SALES
It sounds kind of ridiculous, but look around and you’ll notice businesses with great sales close ALL.THE.TIME.
Most business owners, and even most business consultants I talk to think the answer to the profit problem is to increase sales. I disagree. Bigger businesses are more complicated, require more resources (time, money, employees) and can exponentially complicate the profit problem!
First, you need to figure out why you’re not profitable, which typically falls into at least one of these categories:
EFFICIENCY
The Goldmine of Profitability!
Involves creating operating procedures for all areas of your business.
The most successful businesses prioritize this early!
Can significantly increase the saleability of your business.
It’s a ton of work, so unfortunately, efficiency is often prioritized too late!
overhead
This is a sneaky one!
Vehicles and equipment add up quickly!
Employees aren’t cheap, and when competition for good employees is high, the extra perks you need to provide can mean employees cost significantly more than their hourly wage!
pricing
Most contractors under price their work.
For starters, you don’t value your work the way others do. You know how to do it, so you’d never pay someone!
Secondly, many owners don’t have a real sense of how to calculate their daily overhead, wage costs or shop supplies in a way that makes them easy to allow for in an estimate, making mark ups educated guesses at best!
Once you’ve figured out and fixed the profit problem, your profits can scale as you grow your business!
To help with the overhead and pricing calculations I’ve created a workbook to walk you through the steps. The workbook is FREE when you sign up for my newsletter!
Newsletters feature profitability tips, and updates about my upcoming book, as well as notifications about upcoming workshops and talks.
I hate unwanted email as much as you; you can unsubscribe anytime. My email list is never shared outside of my company.
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COPYRIGHT 2018 NICKELS AND DIMES MONEY MENTORING A DIVISION OF ARULA INC.