Here was my first lesson in small business finance – cash is your rarest resource and only use it to (1) buy an appreciating asset (building) or (2) something that generates revenue (new equipment). Otherwise do you need it? If the answer is yes, look at your financing options.
There are many types of budgets available to landscaping business owners. Here’s how to start your budgeting journey.
Once you understand how to run the business by the numbers, it becomes second nature. This is something you need to learn, though, so make time to drill down on numbers. This analysis keeps you accountable and improves your ability to sleep.
Remember: It is simple. Money comes in. Money goes out.
As a business owner, the following three financial reporting documents are your friend because, together, they provide the business performance details you need
This solution is much more than a few How-To steps. This requires systematizing the business on a platform that automates the routine and allows people to use intelligence to do the job or run the business. What are essentials?
Because you are a small business – hire people who are achievement driven, who have your drive to get things done. Second expand how you see the company and make it a force in the local community. One or two small projects you can showcase is essential to grab the attention of the 20-30 population. Last – look for attitude, not skills. You can train skills, attitude is a long term project. Hire people that will appreciate what they learn. If you can’t keep them, and you won’t keep the good ones – they will become competitors, establish a reputation for growing great landscapers. One last thought – where are you on employee ownership? What if you had a reputation for giving great employees a piece of the action. Might the good ones stay?