Friday, August 22, 2014

Home News Business basics

Business basics

Business Management, Equipment

As the year winds down, consider applying this advice to your company.

Kristen Hampshire | December 10, 2013

After 40 years at the helm of Heads Up Landscape Contractors, Gary Mallory has more than earned a “masters” in running a business. Instead of keeping all that knowledge to himself, he’s ready to share it.

If Mallory could send landscapers to school, he’d recommend these three courses.

Build a Budget 101. Is your price right? Not enough landscape contractors ask themselves this question. “Reading some educational material about appropriate pricing and budgeting is a must,” Mallory says, adding that a budget is a roadmap for any business.

Cost Accounting 202. “Cost accounting is the basic pitch-and-catch of a business,” Mallory says of the process of analyzing every bit of input a job requires to ensure profitability. “The bid and actual cost have to match,” he says.

Befriend the Banker 303. Relationship management extends beyond building a strong rapport with clients. What about the all-important vendor, your bank?

This institution can make or break your growth initiative, if you’re depending on capital financing. “The big thing is to communicate with excess,” Mallory says. “That way, there are no surprises.”

 

Top news

This wasn’t built in a day

Start small if you are thinking about adding design/build services to your portfolio.

Equity company purchases The Dwyer Group

For the second time, The Riverside Company has acquired the Texas franchising company.

The power of personal relationships

Total Lawn Care tailors a customer-friendly approach to lawn care.

The big job

Follow these tips to be better prepared for snow management on large sites.

Hunter hires new product manager

Kowalewski joins Hunter to support its micro irrigation business segment.

x