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Category Archives: Profit

employees guilt, guilt about profits

Employees’ Guilt About Profits Hurts Your Business

Mindset, ProfitBy Greg HerringJanuary 14, 20192 Comments

Nearly six out of ten of employees probably believe that their companies make too much profit. And having guilt about profits can have a negative impact.

Microscope discovery portfolio analysis case studies cover photo

Portfolio Analysis in Action — Select Case Studies

Business Strategy, Planning, ProfitBy Greg HerringAugust 16, 2018

We have spent the past two weeks discussing portfolio analysis in great depth here on Profit. Value. Life. Now we will take a look at some portfolio analysis case studies.  First, I introduced the benefits of portfolio analysis: greater margin—in both profit and life. Next, I described the process for performing a portfolio analysis: use accrual…

Measuring Tape on Table Portfolio Analysis

What Is Measured In A Portfolio Analysis?

Business Strategy, Planning, ProfitBy Greg HerringAugust 7, 2018

As discussed in my last post, the chief goals of performing an in-depth portfolio analysis are to gain insight into ways to optimize a business and its profit margins.   Net profit margin is a percentage calculated by dividing pre-tax net income by revenue. That percentage is an average of each customer’s profit margin, each product/service’s profit…

Portfolio Analysis File Folder

Craving Business Sanity? Get a Portfolio Analysis

Business Strategy, Planning, ProfitBy Greg HerringJuly 31, 2018

Far too many business owners suffer from a lack of time.The business takes everything they have in terms of time and energy. They run from one fire to another – doing their best to put them out quickly. There is no spare time; there is no spare energy. They lack margin. The company owns them.   Because…

time to raise prices

When Is The Right Time To Raise Prices?

Business Strategy, Planning, ProfitBy Greg HerringJuly 5, 2018

The costs for raw materials are up. Health insurance costs continue to climb. Labor is in short supply which typically means wages will go up.   As of the US Job Openings and Labor Turnover Summary report released on June 5th, 2018, there are now more jobs available than people looking for work. According to…

victory at sunrise, budget, landscape CFO, small business, chief financial officer

An Easy and Efficient Budget Process

Planning, Profit, ReportsBy Greg HerringOctober 23, 20172 Comments

Preparing a budget does not have to be laborious. I hated wasted time; I also hate spending a lot of time on budgets. That view might strike some of you as strange given that it comes from a CFO (Chief Financial Officer). But the truth is that budgets do not have to take a long…

Leader, Paperwork, Strategic Questions, Leadership questions, business questions, landscape business, Greg Herring

Strategic Questions Every Leader Should Ask

Business Strategy, Planning, ProfitBy Greg HerringJune 19, 20173 Comments

Answering these strategic questions can help you grow market share, be rewarded with superior profits, reduce risks, and improve morale.

Coins balanced on a spoon, weighted by a potato on a calculator

Actionable Reports in a Tough Labor Market and CFO Magic

Profit, ReportsBy Greg HerringApril 5, 20172 Comments

Since I have worked with several landscape companies as clients, I am sharing some of my lessons learned that are specific to that industry.

The Profit Engine, Your Profit Engine, Webinar Series, Greg Herring, The Herring Group, Landscape Industry, Landscape Business, Lawn Care Business, Financial Perspective

Getting to 10% Profitability – The Profit Engine

Business Strategy, Planning, ProfitBy Greg HerringMarch 30, 2017

In every company’s collection of customers or properties, there are winners and losers. One key to increasing profitability is to identify them and analyze what makes them a winner or loser. Your profit engine …

income statements, clear vision, predict the future, trended income statement, Herring Group, finance advisor, landscape business

Predict the Future with Trended Income Statements

Profit, ReportsBy Greg HerringOctober 25, 2016

Seeing the future is difficult, but reducing it to numbers is even more challenging. You can predict what your income statement will look like next year.

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