Budgeting is not as complicated as most people and HVAC, plumbing, or electrical independent contracting company would have you believe. Budgeting for an HVAC, plumbing, or electrical independent contracting company requires four key areas:
- History: When you begin your HVAC, plumbing, or electrical independent contracting company budgeting process, take a look at the last three years of financial data. Your history will tell you when to expect the seasonal up and downs, and it will also show you signs of growth or decline.
- Goals: What do you want to achieve? You must have a clear picture as to your revenue and profit goals. These goals along with your HVAC, plumbing, or electrical independent contracting company financial history will guide your planning.
- Planning: A goal without a plan is simply a wish. A goal with a plan is quest. Your plan should include the manpower you will need to accomplish your goals. It will also include your independent contracting company team’s marketing plan as well as your independent contracting company training plan.
- Commitment: The last step is your commitment to your budgeting plan. Make no mistake. When you started a business you made a serious commitment. This is shown by where you invest your money and your time. If you are serious about your budgeting plan and your HVAC, plumbing, or electrical independent contracting company, then you better bring a powerful commitment of your resources.
The last thing to keep in mind is that your 2012 Budget should be finished by the end of October. Get to work!
If you don’t have a clue how to build your budget, and you don’t know what to do: get Service Excellence Training. We can build your HVAC, plumbing, or electrical independent contracting company budget with you.
-Resource curated by Todd Liles of Service Excellence Training.
