| Feeling Squeezed? |
If you're feeling constantly caught in a profit crunch, we've got the way to ease the profit squeeze. More...
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| Six Steps to Long-Term Success! |
First you form and pour the foundation. . . then you build the business. These are the six steps to building a solid foundation for YOUR business. More... |
Tools
You Can Use |
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Three great workshops and two webinars give you great business- building tools!
Other Workshops:
Increase Your
Cash Flow Now!
More Info
Master Builder:
The Next Level
More Info
Webinars:
Are You Running
Your Business
In The Dark? More Info
Build It Strong:
More Info
For more information on any of our classes, webinars or workshops, visit suiterfinancial.com
Or, call
415 884-0288.
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Do you know the 5 critical steps to growing a strong business? Join our mailing list and you can downlod a FREE CDwith each step outlined!
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August 2007
Profit Primer
Tools for contractors to build strong companies! |
Dear Vicki,
 Where did all the money go? That's the most common question I get from my clients.
Does it seem to you that no matter how many jobs you have going, or how many deposits you make, you never seem to have enough money in the bank?
In this month's newsletter, you'll learn how to get control over how much is in your bank account (below under "Just A Minute"). You'll also hear contractor Bill Darrah's first person account of how he narrowly escaped a cash flow disaster.
If you have questions, we have answer! Webinars. Seminars. Workshops.
Read on and reap!
Vicki Suiter
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How I Averted A Cash Flow Disaster
 Before working with Vicki, I was relying on my office manager to keep track of my company finances.
Big mistake! Somehow, I hadn't realized that I needed to understand where all the money was going.
While taking one of Vicki's workshops, I realized that, I needed to learn more about managing my finances, cash flow and long range planning.
I was no novice to business; I have been a contractor for many years. But, Vicki showed me that while I had been working in my company, I hadn't really been working on it.
One of the first things we tackled was a budget and cash flow projections for the whole year. I was already projecting a slow time, but Vicki got me to see I was headed straight for a major cash crunch!
Seeing that cash flow problem looming got me in gear. I quickly got to work selling some "Contact to Contract" type jobs to fill in. And I got them. Better yet, with Vicki's support, I was able to increase my margin at the same time!
In the past, I looked 30 days ahead; or, just had some rough idea in my head of where I figured my business stood.
Now, with my budget and cash flow spreadsheets, I can forecast the entire year, and know exactly when I have enough work and when I need to go and sell more.
Truthfully, I'm not sure I could have survived the year without a major financial crisis had I not consulted with Vicki.
Now, thanks to her, I know my business is headed on the right course, and I know how to keep it there.
Bill Darrah, Bill Darrah Builders, Maui, HI
http://www.bdbmaui.com/
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Just A Minute
What You Can Learn From Bill's Story
Take the time to work on your business - not just in it. Like any project that is successful, your business requires planning and forethought to have it turn out well.
Have an operating budget for your company. This will give you a plan for getting where you want to go, and let you see where you have gaps or dips in revenue.
Do cash flow projections, and look ahead anywhere from six weeks to one year. This is a great way to see where you will be running short on cash. It doesn't have to be exact, but a good estimate can save you from being eaten up by cash shortages.
Contractors consistently face challenges in the ebbs and flows of work. If you look ahead and see where the dips are, you can plan for them. When you see a cash crunch coming, you can ask yourself the question Bill did: "How can I fill that gap and what are the resources available to me in handling the cash flow shortages?"
The tools that will let you see those ebbs & flows is an operating budget and cash flow projection. When you can see it, you can do something about it.
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Six Steps To Long Term Success One of the things Bill learned in the story above is that building your business is like any project you work on. You plan for how your going to have it turn out, and then build.
To build a strong business, we suggest you follow these six steps:
- Get clear. Think about where your business is now and where you want it to grow.
- Get a plan. Determine what it will take to get your business to the next level and how you'll do it.
- Get a budget. Figure out what it costs to run your business, and have the numbers worked out to support your plan.
- Get moving. Work out the schedule so you'll know when and how you'll get it done.
- Get a team. Find the right people to support your efforts.
- Get feedback. Make a point to regularly review your progress, make necessary changes, and keep going!
Find out more about the six steps, and get support in sticking with the program at Business Boot Camp. Classes begin September 25. Space is limited. Register now!
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Ask Vicki!
Got a question you'd like answered? An issue you need resolved?
You have two chances to ask Vicki in person at Vicki Suiter's Business Builder. Vicki will be in Santa Rosa August 28 and in Novato September 12.
You'll learn five simple ways to ease the profit squeeze in your business. And, it's F*R*E*E!
Get all the details here.
If you can't make it to the Business Builder, drop Vicki an e-mail and she may answer it in a future column. No names or identifying company details will be used.
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Suiter Financial Systems
250 Bel Marin Keys Blvd. C2
Novato, CA 94949
www.suiterfinancial.com
info@suiterfinancial.com
415 884 0288
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www.suiterfinancial.com 
