English
English
Español
Français

Sign Up for Our E-News!

Join over 18,000 other roofers who get the Week in Roofing for a recap of this week's best industry posts!

Sign Up
LP Building Solutions - Sidebar Ad - Remodeler
SRS - Sidebar Ad - IRE Concert 2023 Eric Church
Estimating Edge - Sidebar Ad - Industry Collaboration Means Contractor Success (Podcast With Duro-Last)
Sherwin-Williams - Sidebar Ad - MetalVue Ad - August 2022
Wil-Mar - Sidebar Ad - Pipe Collar
All Points Tile - Help us Recylce, We
RoofersCoffeeShop - Where The Industry Meets!
Countdown to IRE 2023!
English
English
Español
Français

4 Things to do if the Market is Making You Nervous

Breakthrough Market Making you Nervous
December 6, 2022 at 6:00 p.m.

By Breakthrough Academy. 

How to prep for a downturn in the economy so that you can survive whatever the market throws at you. 

 

As we say all the time on the Contractor Evolution show, business is a game you have to play for the long run. 

One situation you are inevitably going to face at some point, or many points, is an economic downturn. Or Recession. Or Meltdown. Whatever you (or the media) wants to call it. 

You get what I’m saying though. Business isn’t just about winning when the times are good and everyone is fat and happy. You also need to know how to play the game when things aren't so flush. 

Now I want to be clear. We are not economists. We don’t have a crystal ball. We’re not in any way trying to guess what the market is going to do.

However, we do try to stay current and provide value to our listeners, and lately this conversation around the market, what's ahead and what to do, seems to be coming up a lot with our contractors.    

While we’ll be the first to tell you we have NO IDEA what’s going to happen, I think we can all agree there are a lot of flags on the field right now. There are a lot of scary headlines, and that's making people nervous. Fair enough. 

In this episode Igor and I are going to go over: 

  • Why a downturn isn't a bad thing and how to look at it from a new perspective 

  • How to identify true revenue drivers versus 'nice to haves' 

  • Why you need to create two business plans and two budgets when times are unstable, and what the two plans should look like 

  • The true costs of laying people off (which is beyond the loss of ROI) 

  • What reserves should you keep in place to make it through a rough period? 

  • What percentage of monthly revenue should you put away for a rainy day? 

Subscribe today! 

Learn more about Breakthrough Academy in their RoofersCoffeeShop® Directory or visit www.btacademy.com

About Breakthrough Academy (BTA)  

Breakthrough Academy (BTA) helps contractors build profitable and efficient companies through proven processes, coaching, and community networking. We are currently working with over 300 business owners across North America, managing over $900 million worth of revenue. 

In 2020, BTA was ranked as Canada's 106th fastest growing company by The Globe and Mail's Report on Business; the third consecutive year on a growth list for the brand (32nd in 2019, 16th in 2018).



Recommended For You


Comments

There are currently no comments here.

Leave a Reply

Commenting is only accessible to RCS users.

Have an account? Login to leave a comment!


Sign In
Sherwin-Williams - Banner Ad - MetalVue Ad - August 2022
English
English
Español
Français

Sign Up for Our E-News!

Join over 18,000 other roofers who get the Week in Roofing for a recap of this week's best industry posts!

Sign Up
Quarrix - Sidebar - StormStop
Beacon/TRI-BUILT - Sidebar Ad - TRI-BUILT Performance You Can Count On
General Coatings - Sidebar Ad - Get Your Info Now
TRA Snow & Sun - Ad - Sidebar
Photo Contest - Sidebar Ad - NRCA ProCertification Photo Contest
ICP - APOC Lunch & Learn