How valuable is your brand? Part 1
I am amazed at how often I see service contractors spending extraordinary effort to measure the gross margin of each service call, job, or project to two decimal places while simultaneously making zero effort whatsoever to measure and understand the value of their business in total. Service call gross margin is a very poor proxy […]
How valuable is your brand? Part 2
As I indicated in my previous post, the basic finance formula for determining the value of an investment is to assess the amount and the risk of future income streams. Of course, predicting the future is tricky business, so it is best to rely on historical trends as a proxy for future performance, along with […]
What’s your company worth?
In The Digital Wrap Book, Chapter 14 was titled the Digital Wrap Formula for Maximizing the Value of Your Business. The chapter covered the technical, financial calculus that can be used to determine the amount a financial buyer might pay for a service contracting business (read the related blog post). It also offered a good […]
Make your business more valuable by being more valuable to your customers
Billy Marshall often speaks to industry association groups on topics that help service companies be more valuable, successful, productive and more important to their customers. This past May, he spoke in Indianapolis to fire protection companies about The Digital Wrap. What is Billy talking about? Watch the video to see! This 15-minute recording is crash course […]
Key principles to maximize the value of your service contracting business
At some point, every business person or entrepreneur wants to be paid the full value for the investment of time, energy, love, and money they have made in their business. Whether that payday is an arms length financial transaction with an unrelated third party or a passing of the business to the next generation, everyone […]
What is great customer service worth? About 20% and $41 billion.
Unless you’ve been living under a rock recently, you know that Uber is a taxi service start-up that connects drivers with folks who need a ride. As a business, Uber connects riders and drivers (just as a taxi service does) and they collect a 20% fee on top of what is paid to the driver. […]
Give yourself a raise – 5 ways service contracting software puts more money in your pocket
One of the consistent themes we hear from our service contractor customers is how expensive, slow, and cumbersome basic administrative tasks become when they attempt to scale their business with their on-premise PC server-based applications. Scheduling, inventory management, billing, payroll, customer service requests – all of these activities seem to get choked up with an […]
4 ways service contractors can grow sales without selling
Services businesses are “the gift that keeps on giving” in the revenue department…if managed effectively. Unfortunately, many are not very well managed and somehow lose their connection and relevance with customers. The success of Angie’s List and other similar customer advocate intermediaries is a direct result of service vendors inability to remain relevant and build […]