Financial Strategy Management Resource Shelf

If you had to give yourself a financial intelligence grade, would it be an A+? The following books and podcasts are a collection of six that we think can get you there no matter what your education is or level of business experience. Whether you are a seasoned contractor or just moving from service tech to business owner, if you want to strengthen your financial acumen, we have chosen four books and two podcasts to help you improve your financial intelligence.

Financial Intelligence, Revised Edition: A Manager’s Guide to Knowing What the Numbers Really Mean

By Karen Berman (Author), Joe Knight (Author), John Case

Inc. magazine calls it one of “the best, clearest guides to the numbers” on the market. Readers agree, saying it’s exactly “what I need to know” and calling it a “must-read” for decision makers without expertise in finance. Since its release in 2006, Financial Intelligence has become a favorite among managers who need a guided tour through the numbers – helping them to understand not only what the numbers really mean, but also why they matter. www.amazon.com/dp/1422144119

Profit with Presence: The Twelve Pillars of Mindful Leadership

By Dr. Eric J. Holsapple and Greenleaf Book Group

WALL STREET JOURNAL BESTSELLER It’s time for leaders to join the mindful business revolution and find true success.Although the world is currently abuzz with the term “mindfulness,” some believe mindfulness is a fringe activity to be practiced before or after the workday, if at all. Too few business professionals take the time needed to be present and aware throughout the workday, which is counterproductive. Dr. Eric Holsapple, successful developer and entrepreneur has realized the value of mindfulness as not only a path to personal success, but as a sound business strategy.

www.amazon.com/s?k=Profit+with+Presence%3A+

The+Twelve+Pillars+of+Mindful+Leadership

The Blue Collar Proud Show

Hosted by Carter Hawkins and Taylor Hill https://bcpshow.com/

THE WEEKLY SHOW FOR BLUE-COLLAR BUSINESS OWNERS. Plumbing. HVAC. Electrical. Remodeling. Roofing. Painting. Concrete. Chimney. Masonry. Fencing. Flooring. Pest Control. Landscaping. Janitorial. If you’re in a truck-based, home services industry of any kind, you’re in the right place. Listen every week as hosts Carter Harkins and Taylor Hill interview experts in your industry and find the gold nuggets that will help you build the dream business you have always wanted to have.

The 10X Financial Advisor: Your Blueprint for Massive and Sustainable Growth Paperback

By Scott Winters (Author), Melissa Caudle (Editor)

Most Financial Advisors fail to run their practice like a business and consequently never live up to their full potential. Even worse they find themselves trapped by the demands of their clients and unable to lift the proverbial ceiling on their income. This book will take you on a journey through the proprietary Quantum Leap Success Model built to help financial advisors achieve massive and sustainable growth. If you want to build a house, you would be out of your mind to proceed without a blueprint. If you want to build a business, you can build a plan emulating the world’s most successful companies. www.amazon.com/10X-Financial-Advisor-BlueprintSustainable/dp/1951028503/

AI Marketing Playbook: Mastering the Game of Customer Acquisition and Engagement with Artificial Intelligence

By Mark W Lamplugh Jr (Author)

Looking to revolutionize your marketing strategies? Look no further than “AI Marketing Playbook” – the definitive guide to leveraging the power of artificial intelligence to optimize your marketing campaigns. In this comprehensive guide, you’ll learn how AI can help you personalize your messaging, target your ideal audience, and predict future trends with unprecedented accuracy. You’ll discover proven tactics for leveraging data-driven insights to drive conversions and increase ROI, and explore cutting-edge technologies like machine learning, natural language processing, and more.

www.amazon.com/Marketing-Playbook-AcquisitionEngagement-Intelligence/dp/B0C1J7X6JV/

Best Financial Strategies to Run A Profitable Contracting Business

Hosted by Igor Trninic https://podcasts.apple.com/us/podcast/ contractor-evolution/id1541384174

Financials – the one word that can have even the most seasoned contracting leader running for the hills But, sorry to break this to you, mastering a budget is a bedrock skill for your entire career as a business owner. Business owners who have a strong and solid financial plan (and a well thought-through budget) can be more decisive and end up with financial freedom. Well, can’t you just hand it over to your bookkeeper or accountant, and be done with it? Afraid not...if you want to grow and succeed longterm. It’s really not as scary (or dry/yawn-inducing/grey hair encouraging) as it may seem. So, where do you start?

BY CHRIS CREW

One of the things that we know as an owner/ operator of a home service company, is that you must focus on team members. Nothing in your business happens without them. Though they may not be listed on your balance sheet, your people are your greatest asset. As with everything else in business, you want to leverage your assets.

In our previous two articles, we explained the concept of The Compensation Equation and how it affects profitability. In this last installment, we’d like to dive a little deeper into how your compensation plan affects recruitment, retention, and company culture.

Recruitment, Retention & Company Culture

The Compensation Equation was created to help home service businesses map out custom compensation structures for each unique role. The goal is not just to pay a competitive wage, but to incentivize profitable behavior and attract/retain top talent. How you pay going forward will affect the way your team views their roles. However, the first mindset that may need to change is your own.

It’s been a standard practice in the trades to lean on bonuses, commissions, and spiffs to reward or motivate results. However, these methods often exclude the majority of team members and can be difficult to administrate. Also, they do little to elevate your company’s culture.