Please tune in this week as Wayne walks you through two scenarios that seem pretty likely and asks a critical question: CAN YOU COVER OVERHEAD in the event of a reduction in prices (what goes up must come down, right?) and tightening margins? He also gives you a technique all contractors should begin to employ for evaluating your greatest overhead cost. What are your best practices for battling economic uncertainty? Please share with us in the comments.
Don’t forget about The Contractor Business Boot Camp. We are down to the last 10 seats for our upcoming class starting on Feb 9-10, 2023 in Raleigh. If you haven’t yet enrolled your rising NextGen leaders, do it now! Contact Charlotte at ckopp@familybusinessinstitute.com for more information.
Gross Profit Per Man Hour will tell you what you need to cover.
That’s a great metric, Kenny. Thanks
Timely Wayne – With Meta doing a mass layoff and housing stalled, tis’ time to ponder same. Talent assessment strategies like stack ranking are always vulnerable to extreme subjectivity in my experience. A tool we use is “9-Box” which weight both performance and potential. We also try to make sure multiple leadership opinions and eyes are on the evaluation!
Great advice, Jim. Thanks