We’re back! After taking some time to reflect, regroup, and grow, I’m excited to launch a brand new season of the Nail the Numbers podcast.
This season is all about helping home service and service-based businesses know, understand, and trust their numbers—because profitability isn’t optional, it’s essential. We’ve expanded the Abacus team, added CFO services, and this season we’re especially excited to welcome guest voices who will share their real-world experiences and insights.
In this first episode back, here are a few key takeaways I share:
We've partnered with Melanie Sloan to bring fractional CFO services to clients who are scaling or preparing for exit.
Profitability and cash flow are still at the heart of everything we do—if you don’t know your numbers, you can’t make the right decisions.
I share how implementing Profit First in my own business has been a complete game-changer (every dollar now has a purpose).
No matter the state of your books—messy QuickBooks, only spreadsheets, or no system at all—we’ll help you draw a line, move forward, and get on track.
My mission hasn’t changed: to help business owners finally pay themselves what they deserve, plan for growth, and run businesses with confidence.
I’m thrilled for you to join me this season as we jump into conversations that bring fresh insights, and real-world strategies to help business owners not just run their companies—but run them with confidence.
Ready to take the next step in knowing, understanding, and trusting your numbers? Visit us at www.chooseabacus.com to learn more.
🎙️ In my latest episode, I dive into why job efficiency is everything when it comes to boosting profitability in home service businesses. 🛠️ When we streamline workflows, set accurate job costs, and establish clear timelines, we’re not just running a smoother business we’re protecting our bottom line.
Here are my key takeaways:
✅ Efficiency drives profit—every minute saved is money saved.
✅ Streamlined workflows prevent costly delays.
✅ Accurate job costing means no surprise expenses.
✅ Consistent team communication keeps us on track.
✅ Regular check-ins help us spot issues early.
✅ Standardized processes create consistency across projects.
✅ Clear timelines keep everyone in sync.
✅ Team feedback is essential for ongoing improvement.
✅ Tracking job costs helps with better future estimates.
✅ Using templates improves accuracy in job costing.
If you’re in home services and want to keep jobs on track and profitable, these strategies are gold! 💰
🎙️ In the latest episode of Nail The Numbers, I dive into the often-overlooked area of hidden costs in business and how addressing these can boost profitability without needing to ramp up sales. 🚀
From tracking material expenses to keeping an eye on labor and subscription fees, these "invisible" costs can make or break your bottom line. Here’s what I covered:
Key takeaways:
✅ Profitability is the foundation for growth and sustainability.
✅ Hidden costs add up fast and can eat into profits.
✅ Implementing a system for tracking material costs is a game-changer.
✅ Regular maintenance on vehicles and equipment prevents costly surprises.
✅ Optimizing labor costs means more productivity on job sites.
✅ Reviewing subscriptions? That alone can yield big savings.
✅ Expense assessments reveal waste and open opportunities to save.
✅ Managing costs effectively increases profitability without more sales.
✅ Regular team discussions uncover areas for improvement.
✅ Small, proactive steps can save hundreds (or thousands) each month!
This episode is packed with practical strategies for any business owner looking to cut hidden costs and build a stronger bottom line. 💸
#ProfitabilityBoost #HiddenCosts #NailTheNumbers #BusinessGrowth #CostManagement #OptimizeYourBiz #HomeServiceSuccess #EfficiencyTips
In this episode of Nail the Numbers, I emphasize the critical importance of profitability for home service businesses, especially during economic slowdowns. I discuss how maintaining a focus on profitability can help businesses navigate challenging times, cover overhead costs, and manage debt effectively. I stress the necessity of knowing your numbers to make informed financial decisions and encourage business owners to take proactive steps to ensure their profitability.
Takeaways:
• Profitability should be the focus all year round.
• Don't let economic slowdowns affect your mindset.
• Every job must be profitable to sustain the business.
• Understanding overheads is crucial for financial health.
• Profit covers all business expenses, including debt payments.
• Knowing your numbers is key to making informed decisions.
• Identify patterns in job profitability to improve operations.
• Focus on profitable services and jobs for growth.
• Take action today to understand your financial situation.
• Seek help if you lack clarity on your business numbers.
#profitability #businessgrowth #cashflow #economicslowdown #debtmanagement #homeservicebusinesses #financialplanning #knowingyournumbers #profitplan #sustainablegrowth
In this episode of Nail The Numbers, I discuss strategies for maximizing profit in home service businesses, particularly during economic slowdowns. I emphasize the importance of maintaining a positive mindset, focusing on profitable services, cutting unnecessary expenses, and implementing a profit-first strategy to ensure sustainable growth and profitability.
Takeaways
#nailthenumbers #HomeServiceSuccess #profitfirst #businessgrowthstrategy #EconomicResilience #servicebusiness #MaximizeProfitability #SmartBusinessSolutions #FinancialSuccess #businessmindset
In this episode of Nail the Numbers, I emphasize the critical importance of understanding your numbers for business success. I discuss the three main areas: cash flow management, boosting profitability, and making informed financial decisions. Takeaways: ✅ Knowing your numbers is critical to the success of your business. ✅ Cash flow management is essential, even if it's not enjoyable. ✅ Revenue is important, but net profit is what truly matters. ✅ You need to track your expenses and job costs regularly. ✅ Make informed financial decisions based on accurate data. ✅ Having multiple bank accounts can simplify cash flow management. ✅ Regularly review your pricing to ensure profitability. #homeservicebusiness #bookkeeping #moneymanagement #hvac #profitfirst #businessowner #hvacservice
In this episode of Nail The Numbers, Kerry Postel discusses the Profit First methodology, emphasizing its importance in cash flow management for home service businesses. She shares her personal experience with implementing Profit First since 2015 and highlights how it has transformed her business's profitability. Kerry explains the significance of separating profit from operational expenses and encourages business owners to take their profit out of the business to avoid unnecessary spending. She also discusses the benefits of having multiple bank accounts to allocate funds effectively and control expenses. The episode concludes with an invitation for listeners to learn more about implementing Profit First in their own businesses. Takeaways ✔ Profit First is essential for sustainable business growth. ✔ Cash flow management is crucial for profitability. ✔ Paying yourself and taking profit are different actions. ✔ Unexpected expenses can easily consume your profit. ✔ Every dollar in your business should have a purpose. ✔ Multiple bank accounts can help control spending. ✔ Profit First allows for quarterly distributions to owners. ✔ Implementing Profit First can be a game changer. ✔ It's important to keep your books up to date. ✔ Consulting a professional can help with Profit First implementation. #homeservicebusiness #bookkeeping #businesssuccess #bookkeepingservice #bookkeepingbasics #hvac #profitfirst #businessgrowth #bookkeepingbasics #moneymanagement #financialfreedom #constructionprofitfirst
In this episode of Nail the Numbers, Kerry Postel discusses the importance of understanding financial numbers for business profitability, particularly for home service businesses. He addresses common fears and challenges business owners face regarding bookkeeping and emphasizes the need for accurate financial management. Kerry encourages listeners to take the next step in hiring bookkeeping help to ensure their business's financial health and growth. Takeaways ✔ Understanding your numbers is crucial for business success. ✔ Many business owners fear hiring the wrong bookkeeper. ✔ Bookkeeping can be more complex than it appears. ✔ Outsourcing bookkeeping can alleviate financial management stress. ✔ You should regularly review your financials with your bookkeeper. ✔ Knowing your numbers can empower business decisions. ✔ Don't let bookkeeping fall to the bottom of your priority list. ✔ There are many businesses struggling with their bookkeeping. ✔ Taking action on your financials can lead to growth. ✔ It's important to have a clear exit strategy for your business. #homeservicebusiness #bookkeeping #bookkeepingservice #businessgrowth #businesssuccess #moneymanagement #profitfirst #hvac #abacusbusinesssolutions #accountingservices #profitability #financialplanning #hvacservice #businessmoneymanagement
In this episode of Nail the Numbers podcast, Kerry discusses the critical importance of planning for a business exit. He emphasizes the need for business owners to understand their financial metrics and prepare their businesses for sale well in advance. The conversation covers the emotional and practical aspects of exiting a business, the significance of having accurate financial records, and the long-term benefits of strategic planning for a successful exit. Takeaways
If you are ready to know your numbers and take the next step then go to https://constructionprofitfirst.com/profitcall and schedule your 15 min call with Kerry - have a conversation to see if we are a good fit. #HomeServiceBusiness #SellYourBusiness #FinancialClarity #bookkeepingforhomeservices #homeservices #FinancialTipsForBusiness #moneymanagementstrategies #moneymanagement #bookkeepingbasics
Don't just hire someone just to get your bookkeeping done. It's not worth it believe me because the cost to clean up that work after someone's done it incorrectly is way way more than what it is to pay someone to do it first time. Takeaways ✅ Knowing and understanding your financial numbers is crucial for the success of construction and home service businesses. ✅ Hiring experienced and knowledgeable bookkeepers is essential to ensure accurate and up-to-date financial data. ✅ The cost of cleaning up mistakes in bookkeeping is much higher than investing in proper bookkeeping from the start. ✅ Regularly reviewing and analyzing financial reports helps business owners make informed decisions and identify areas for improvement. ✅ Seeking professional assistance can provide valuable insights and support in managing and growing a business. #bookkeepingservice #homeservicebusiness #bookkeeping #businessgrowth #moneymanagement #bookkeepingbasics #constructionindustry #abacusbusinesssolutions #businessperformance #businesssuccess #businessstrategy #financialgrowthtips #bookkeepingforsuccess
In this episode, Kerry Postel discusses the importance of knowing your profit and loss (P&L) statement and how it can help business owners make informed decisions. She shares the story of Robert, a plumbing business owner who realized the need to hire a professional to handle his bookkeeping and create accurate P&L reports. Kerry emphasizes the harm of relying solely on bank balances and the misconception that anyone can do bookkeeping. She highlights the power of applied knowledge and how understanding your business's financial performance can drive growth and profitability. Takeaways:
Your profit and loss is giving you the detail of how is your business performing? Takeaways ✅ Having a Profit and Loss (P&L) report is crucial for understanding your business's performance. ✅ The P&L helps you make data-driven decisions and identify areas where you can cut costs. ✅ Focusing on profitable services and planning for future growth becomes easier with a clear understanding of your P&L. ✅ Implementing profit first and having multiple bank accounts can help allocate funds purposefully. #homeservicebusiness #bookkeeping #bookkeepingservice #moneymanagement #hvac #bookkeepingbasics #profitandloss #businesssuccess #businessgrowth
In this episode, Kerry Postel discusses the importance of knowing your numbers in a business. She uses the example of Robert, a plumbing business owner who didn't know the details of his numbers and was making decisions based on gut feelings and bank balances. Kerry explains that without knowing your numbers, you're running your business blind and may not be aware of expenses that are impacting profitability. She emphasizes the need to track and analyze all aspects of the business, such as cost of goods sold, fuel expenses, and utility bills, to make informed financial decisions and plan for the future. Takeaways: ✅ Knowing your numbers is crucial for making informed financial decisions and operating your business effectively. ✅ Without knowing your numbers, you're making decisions based on gut feelings and may be putting yourself in a dangerous position. ✅ Tracking and analyzing all aspects of your business, such as expenses and profitability, helps you identify areas for improvement and make necessary changes. ✅ Understanding your profit and loss statement (P&L) and other financial reports is essential for knowing how your business is performing and planning for the future.
If you are ready to know your numbers and take the next step then go to https://constructionprofitfirst.com/profitcall and schedule your 15 min call with Kerry - have a conversation to see if we are a good fit. #bookkeepingservice #homeservicebusiness #businesssuccess #businessgrowth #moneymanagement #hvac #abacusbusinesssolutions #profitability #businessowner #financialplanning #businessmanagement #profit #expensemanagement #profitandloss
How to have confidence on your cashflow In this episode, Kerry Postel continues the conversation about Brian, who owns an electrical business. The focus of this episode is cash flow, which is a major issue for many businesses. Kerry emphasizes the importance of tracking cash flow and knowing where your money is going. She suggests creating a cash flow spreadsheet to forecast income and expenses, as well as building a financial reserve for emergencies. Kerry also recommends creating a budget to anticipate expenses and stay on track financially. Takeaways ✅ Cash flow is a major issue for businesses and needs to be actively managed. ✅ Tracking cash flow and knowing where your money is going is crucial for business success. ✅ Creating a cash flow spreadsheet can help forecast income and expenses. ✅ Building a financial reserve can provide a safety net for unexpected expenses. ✅ Creating a budget helps anticipate expenses and stay on track financially. If you are ready to know your numbers and take the next step then go to https://constructionprofitfirst.com/profitcall and schedule your 15 min call with Kerry - have a conversation to see if we are a good fit.
It's really important that you know how much you're spending and what you're spending it on.
Takeaways: ✅ Expense tracking is crucial for business owners to know exactly where their money is being spent. ✅ Categorizing transactions helps identify overspending and areas where adjustments can be made. ✅ Tracking vendor bills and paying them on time is important for maintaining a good reputation and potentially negotiating discounts. ✅ Using software like QuickBooks Online can simplify expense tracking and provide valuable financial insights. ✅ Business owners should take control of their numbers and seek professional help if needed.
In this episode, Kerry Postel discusses the importance of financial organization for business owners. She uses the case study of Brian, an electrician who is struggling to keep up with his expenses due to using a single bank account. Kerry emphasizes the need for multiple bank accounts to allocate funds for different purposes such as operating expenses, payroll, materials, and profit. She also advises against mixing personal and business finances. Kerry encourages listeners to take control of their finances and provides resources for further assistance.
Takeaways
Tim, a plumbing business owner, is facing challenges with cash flow, time management, and understanding his financial numbers. He is struggling to pay himself, manage expenses, and plan for future growth. The solutions for Tim include adopting the profitability accounting method, improving invoicing and payment collection, outsourcing bookkeeping, creating a budget and forecast, and implementing time management strategies. These strategies will help Tim take his business to the next level and make informed financial decisions.
Takeaways
Adopt the profitability accounting method to separate profit, taxes, and expenses.
Improve invoicing and payment collection to ensure timely payments.
Outsource bookkeeping to ensure accurate financial reports.
Create a budget and forecast to plan for future expenses and revenue.
Implement time management strategies to delegate tasks and avoid burnout. #constructionprofitfirst #homeservicebusiness #ProfitFirst #profit #TimeManagement #financialplanning #ExpenseManagement #profitability
In this episode, Kerry discusses the struggles faced by Steve, a business owner in the HVAC industry, and offers four solutions to improve cash flow. The main challenges Steve faces include inconsistent cash flow, slow customer payments, lack of expense management, and high operating expenses. Kerry suggests implementing the profitability accounting method, improving invoicing and payment processes, tracking and reducing expenses, and optimizing operating costs. By staying ahead of cash flow, business owners can stabilize their finances and create a more profitable operation.
Discover why knowing your profit is crucial for your success in our latest training with Kerry Postel. Understanding your numbers isn't just about bookkeeping—it's about making informed decisions that drive your business forward.