Running a business is a 24/7 job. Hiring employees, bidding jobs and dealing with the problems that come up every day can be extremely tiring and overwhelming. Many times business owners can get caught up in the mundane task of keeping a business running and forget about putting the necessary processes in place to remain profitable. Alice Pallum of AMP Business Coaching has a passion for working with small to midsize business owners who are in this predicament where they have a viable business, but aren’t growing it to its full potential.
Lack Of Profitability Is A Common Problem In Business
One of Alice’s recent clients was a local landscaping company with a story that Alice hears far too often. This company was incredibly busy and well respected in the community, but at the end of the day they just weren’t profitable. The business owner was unsure of how to proceed to return their business to profitability.
Business Owner Needs To Track Expenses
Once Alice realized that this local business wasn’t properly tracking their expenses, she sat down with the business owner and had him track his true cost of running a landscaping business. This included tracking not only all of his employee costs, but tracking smaller expenses such as fuel, lawn mower blades, truck repairs and the many other expenses that creep up over the course of a given year. Once all of these expenses were tracked it was much easier to determine a breakeven point in the business.
Landscaping Company Now Poised For Growth
Now that the landscaping company owner put in the necessary work along with Alice, the company is poised for growth and profitability. The owner now has a bidding rate card that allows him to know exactly where he needs to be price wise to ensure profitability. Prior to working with Alice, the owner was essentially “shooting blind” when it came to pricing work. Now the owner can price work confidently knowing that he’s covering all of his true costs and will actually make a profit at the same time. This experience has been extremely empowering for this business owner and he is poised to expand his company knowing that he now has the necessary processes in place to not only grow his revenue, but his profit as well.
Interested In Learning More About Business Coaching?
If this case study excited you, why not reach out to Alice Pallum today? She’ll be glad to offer a complimentary business evaluation to lay out a plan for how you too can boost your profitability over the coming year. Give Alice a call or text today at (612) 799-3991 to learn more.