Financial Guide of a Multi-Million $ Home Service Business

Looking to better understand your business's finances? Financial expert Tyler Martin takes us through key metrics to focus on, cost management, cash flow, scaling strategies, and profitability. Discover how retargeting and innovative digital tools can transform your marketing strategy and boost business growth in this video: • 5 Low-Cost Hacks to Ma...
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⏲️ Video Chapters
00:27 Introduction to the episode and guests
01:34 Key metrics business owners need to focus on
04:28 Analyzing trending data to spot potential business issues and grow your business
06:27 Managing labor costs and staff utilization to improve efficiency
10:22 Understanding your business’ numbers to improve job profitability
11:46 Using Jobber to build a financially strong business
12:26 Overview of primary financial statements, and the value of a professional bookkeeper for budgeting and forecasting
16:45 Factors to consider when developing a pricing strategy
18:10 Managing overhead costs to optimize business growth
20:59 Using autopay to improve cash flow and reduce accounts receivable issues
22:25 The difference between profitability and cash flow and how expenses affect them
24:32 Cash flow considerations when transitioning from residential to commercial work
25:09 How to pay yourself as a business owner, based on business structure
27:27 Financial considerations for scaling a business
28:53 Understanding fixed costs to determine your breakeven point
30:16 Adam’s takeaway tips: Know your key four metrics that are critical to your business - get a legit bookkeeper - you need to start budgeting -be a data-driven company
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Check out the businesses that were featured in this video!
📊 Tyler Martin, CFO Made Easy & Think Business with Tyler | ‪@thinktylercfo‬
🏠 Adam Sylvester, Charlottesville Gutter Pro’s & Charlottesville Lawn Care | adamsylvester....
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[@thinktylercfo]

Hey team! thanks for having me on the show. Adam is an amazing host.