Operations
Discover the 5 Reasons Why Clean Financial Statements and Positive Cash Flow Are Key Companies that have clean financial statements and positive cash flow tend to command a premium price when they are sold. Here are five reasons why this is the case: Reduced Risk: Prospective buyers are generally risk-averse and prefer businesses that have a…
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What is the difference between deficiencies and warranty? VS Deficiencies and warranties are two related but distinct concepts related to the quality of products or services. A deficiency refers to a fault, defect, or flaw in a product or service that does not meet the expected or advertised standards. Deficiencies can range from minor defects…
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Price increases over 10%, what to do: With inflation still over 5%, labour pressures and increase costs in fuel, insurance and equipment, introducing a significant price increase to clients for their landscape maintenance contract at renewal time can be a delicate matter. Here are five best ways to approach it: 1. Provide Advance Notice: Give your…
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ChatGPT is an advanced language model developed by Open AI that has taken the internet by storm. It is capable of providing contextual responses to questions, eliminating the need to sift through multiple webpages to find answers. Google and Facebook have attempted similar technology before, but ChatGPT has surpassed them. Microsoft has invested an impressive…
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For many contractors, the COVID Pandemic created many opportunities and homeowners were throwing them deposits just to get their name on the project board. If you answered the telephone, you would get the job. The lockdowns also caused many homeowners to re-evaluate their houses and properties. They decided to renovate their kitchen, create an oasis…
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It is something that every business owner will need to think about. Who will run your business if you can’t? What would happen if you were incapacitated and not be able to take care of the day to day operations? How long do you think your business could operate without you at the helm? These…
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Canadians continue to feel the impact of rising prices in July as consumer inflation rose to 8.1% year over year. This was the largest yearly increase since January 1983 and up from a 7.7% gain in May. However, several input costs for contractors have increased much more than 8.1%. The July reading came as energy…
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Six Characteristics of Highly Functional & Accountable Teams How do you get everyone accountable to EACH OTHER and the CUSTOMER, and not focused on their MANAGER? Accountable people will Reassess, Re-strategize and do something different to get the desired results! Each team/company needs to go through the following process: 1. Have a clear and accepted purpose:…
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WORK IN PROGRESS (WIP) WHY is it Important? WHAT IS A WORK IN PROGRESS (WIP) SCHEDULE? At a basic level, WIP reports show the status of a construction project and contract: whether it is on budget, over-billed, or under-billed, as compared to the project timeline. But this simple statement refers to a wildly complex cash flow,…
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Know your Worth: Valuing a Landscape or Construction Company A business valuation is a general process of determining the economic value of a whole business or company unit. The two main reasons why someone would have their business valuation completed is to determine the sale value or to establish the share price for adding shareholders. Valuing…
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