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GIP14 Staying Profitable
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Manage episode 226452775 series 2357264
Content provided by eastman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by eastman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Staying Profitable builds on Article 1 and drills down on 9 essential management disciplines for profitability. GIP Show 14 details the first Management Discipline - Line of Sight to Business Goals. Terms variable costsfixed costs Mindset On or Under BudgetFrugality Methods Hold a training session and educate everyone on how they affect profitability. Rearrange your calendar and make 2 hours a week for meetings - no excuses. 1 Hour for field supervisors and 1 hour for internal employees. Create or improve work orders (or whatever you want to call it) to include: (1) list of materials, the cost of the materials, a space for recording how much was used, a space to record why it is off budget; (2) list of employees working the job, estimated labor hours for the job, a space for how much was used, a space to record why it is off budget. Collect it at the end of the day. Once a week meet with supervisors to discuss the work orders. There only 2 reasons you are over budget - bad estimates or poor supervision. This will be awkward but it is a discipline. Soon the supervisors will know what is expected of them which will impact how they control work. Once a week meet with internal employees to discuss cutting costs. Pick a theme for the month, electrical usage for example, and challenge them to reduce it by 10%. Keep the theme until you have achieved the 10% or what is possible. Then move on to the next major cost area. Never stop, you are creating a culture of frugality that will increase profits.
…
continue reading
122 episodes
MP3•Episode home
Manage episode 226452775 series 2357264
Content provided by eastman. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by eastman or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Staying Profitable builds on Article 1 and drills down on 9 essential management disciplines for profitability. GIP Show 14 details the first Management Discipline - Line of Sight to Business Goals. Terms variable costsfixed costs Mindset On or Under BudgetFrugality Methods Hold a training session and educate everyone on how they affect profitability. Rearrange your calendar and make 2 hours a week for meetings - no excuses. 1 Hour for field supervisors and 1 hour for internal employees. Create or improve work orders (or whatever you want to call it) to include: (1) list of materials, the cost of the materials, a space for recording how much was used, a space to record why it is off budget; (2) list of employees working the job, estimated labor hours for the job, a space for how much was used, a space to record why it is off budget. Collect it at the end of the day. Once a week meet with supervisors to discuss the work orders. There only 2 reasons you are over budget - bad estimates or poor supervision. This will be awkward but it is a discipline. Soon the supervisors will know what is expected of them which will impact how they control work. Once a week meet with internal employees to discuss cutting costs. Pick a theme for the month, electrical usage for example, and challenge them to reduce it by 10%. Keep the theme until you have achieved the 10% or what is possible. Then move on to the next major cost area. Never stop, you are creating a culture of frugality that will increase profits.
…
continue reading
122 episodes
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