Sometimes Good Advice is Just Plain Good Advice

Facebook
Twitter
LinkedIn

In our business, we work with restoration companies every day. We don’t just sell restoration companies. One of the ways we support the seller experience is to help sellers maximize the value of their business right before they sell, and many of the strategies we suggest are more than just selling tips—they’re simply good overall business suggestions that you should implement right away.

We talk about financials and bookkeeping; we talk marketing plans. We almost always discuss the importance of having a diverse revenue mix. We advise countless clients on this important bit, because the right revenue mix can mean the difference between prospective buyers coming to a yes or no, but more than that, a healthy revenue mix means never putting all of your eggs in one basket.

Here’s what that looks like in a typical operation. If you want to improve your business, then make sure the bulk of your revenue doesn’t come from just a few places. A single job should not account for more than 6-8% of your revenue. More than that, and one job can significantly impact your bottom line. Along the same lines, keeping a healthy mix of commercial and residential gives you plenty of space to grow and keep revenue streams diversified. Business success is about keeping options open and never depending on one or two revenue generators to keep your lights on. Understand your revenue and create strategies to mix it up. Success starts with open options and diverse income opportunities.

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Gokul Padmanabhan

Gokul Padmanabhan is the owner and CEO of Restoration Brokers of America. With over 15 years specializing in the sale of restoration businesses, RBA builds relationships with straightforward advice and proven practices to maximize the selling price and exposure of a business to qualifed buyers. Gokul and his team leverage their experience to serve the industry by closing more sales than any group in the restoration industry.

Latest Posts
Most Popular

Hey there! We're glad you're here!

This content is only available for subscribers. Please enter your email below to verify your subscription.

Don't worry! If you are not a subscriber, simply enter your email below and fill out the information on the next page to subscribe for FREE!

Back to homepage