Know Your Numbers

Know Your Numbers

Contributor Jerry Schill explains how to familiarize yourself with the factors that impact your bottom line.

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September 20, 2018
Jerry Schill
Finance & Accounting Industry News

What’s the difference between a good snow removal contractor and a great one? Is it accolades and accreditations? Is it number of accounts and gross profit? This is something I spend a lot of time thinking about as someone looking to improve efficiency and productivity in my own company. I’m still learning, but over the years what I’ve observed is this: as professionals, I think our ability to pay attention to the details is what sets us apart from other “fly-by-nighters” and “one-truck-wonders.” When running an organization of any size it’s easy to get lost in the minutiae, but the work is worth it.

It’s especially important to pay attention to the things that impact profitability in today’s market, with fuel and salt prices on the rise and the decreased labor supply (more on those below). But understanding those factors will not only help you make more money in the long run, but it will also allow you to better communicate with your clients about what they’re spending money on, and why they’re doing it.

So, here are some of the key factors that can have the biggest drain on profits in our industry.

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