Ep 686. ConExpo Day One: Mastering the Chaos of a Rapidly Growing Business
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Key Takeaways
Leverage software like LMN to gain clarity on your business finances, especially overhead recovery and profit margins, to make informed pricing decisions.
Proactively plan for growth by incrementally adjusting your budget for future investments, such as a new facility or equipment, even if current expenses are lower.
Recognize the difference between a CPA and a CFO; a fractional CFO provides proactive financial planning essential for businesses aiming to grow beyond $250,000 annually.
Don't be afraid to invest in professional resources (like a CFO or specialized software) that can generate more revenue than they cost, accelerating your business's progress.
Develop self-awareness about your comfort level with chaos vs. stability in business; striving for a more structured and peaceful operation can lead to better long-term outcomes.
Be selective with the work you accept, especially during peak season. Avoid filling your schedule with undesirable jobs that can prevent you from taking on more profitable and ideal client projects.
Attend industry trade shows like ConExpo to stay updated on new equipment, technologies, and market trends, which can inspire new efficiencies and growth strategies for your business.
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