Definitely going to do this with our bonus checks next week. Thanks for reminding us what a handwritten note can do in someone’s life! Merry Christmas!
@vickisuiter22 күн бұрын
@@carolynprendergast58 way to go! Merry Christmas
@lestearce2 ай бұрын
Very helpful, thanks!
@vickisuiter2 ай бұрын
your so welcome!
@marup-bv9cg3 ай бұрын
I’ve been following your channel for a while, and I really appreciate your insightful content! The video 'Three Strategies Boost Construction Company Profits' is particularly valuable. As a KZbin SEO specialist, I believe there are some strategic optimizations that could help attract a larger audience to your channel. By enhancing your video titles, descriptions, and tags, you can reach more viewers who are looking to boost their construction business profits. Your mission to help others succeed in their business resonates with me, and I’m confident that implementing effective SEO strategies can further amplify your impact. If you’re interested in collaborating on this, feel free to reach out! Thank you!"
@user-se7uv9qc9x4 ай бұрын
There were a lot of very good points that were brought forth in this interview, especially about letting go of the need to be perfect (which has always been a stickler for me) and being afraid to put oneself out in a public sphere for fear of the inevitable trolls and sociopaths instead of focusing on the good, decent and helpful people we might actually meet on our journey. Well done!
@vickisuiter4 ай бұрын
@@user-se7uv9qc9x thanks for sharing your thoughts and feedback. It’s not always easy putting ourselves out there - it definitely takes courage!
@NextInnerLevel4 ай бұрын
Hi, very interesting conversation! Letting go of perfection is sometimes the only way to move forward, understanding the idea that progress is more important than perfection is something we all need to internalise. Dropped a like 🚀
@vickisuiter4 ай бұрын
@@NextInnerLevel thanks for sharing your thoughts - nicely said!
@emamhossan87988 ай бұрын
Your content is really awesome
@ambassador_group8 ай бұрын
These are great, Vicki! Peter is a great guest.
@BillDarrah-j3w Жыл бұрын
Vicki, another great video that helps us all in the construction industry. Such simple and effective metrics to measure our financial health by. Thank you!
@vickisuiter Жыл бұрын
thanks Bill!
@coltutley Жыл бұрын
Thank you, thank you, thank you! For sharing this video
@vickisuiter Жыл бұрын
You are so welcome Colt! Glad you found it valuable. 🙂
@jamiedruelinger86222 жыл бұрын
Hi Vicki. Just curious about the “why” behind using overhead/cogs vs overhead/Rev?
@vickisuiter2 жыл бұрын
Hi Jamie, good question - a lot of people mistakenly use the number from their profit and loss. The problem is that percentage is much lower than your actual overhead breakeven percentage, and if you use that number to mark up direct costs (cost of goods) for overhead, you'll be leaving money on the table. Another way to think about this - the % showing on your profit & loss is a % of income. Income is a higher number than your direct costs or cost of goods. So if you only mark up your cost of goods by the % overhead represented as a percentage of revenue, then you'll not be covering your overhead in the amount you charge on a project, which means that money will come from profits.
@jamiedruelinger86222 жыл бұрын
@@vickisuiter If i'm understanding you correctly overhead mark up should be the cost to manage your projects only. And by using top line revenue, you're factoring in more than just the cost of your projects, rather you're also including additional monies, in most cases (All cases?) profit.
@vinnieboy662 жыл бұрын
Vicki as always a great video with lots of great nuggets of wisdom and insight as well as the connection to Diane Gilson's website. I did a quick look over her website and this is a tremendous resource for those looking to improve their system and processes around Job Costing and Accounting. Thank You !! So Very helpful.
@spencerpowell56552 жыл бұрын
Appreciate you having me on the show Vicki!
@connorskelly49453 жыл бұрын
Thank you for this, Vicki! We want to be doing all of this within the next year.
@vickisuiter3 жыл бұрын
Awesome Connor - I completely believe you can too!
@raund2head2463 жыл бұрын
Nice
@Fab2Mc3 жыл бұрын
Subscribe d
@marcustan61843 жыл бұрын
Thanks Vicki, great tips!
@vickisuiter3 жыл бұрын
your so welcome Marcus!
@stevefowler44403 жыл бұрын
Do you happen to have a spreadsheet you could share that would allow us to plug in the required and give us the results we need?
@vickisuiter3 жыл бұрын
Hi Steve, I don't have an Excel sheet that hast these formulas plugged in as the numbers can vary from company to company. I would recommend answering these questions for yourself as a starting point. The other thing that may help you is my Budget Goal Worksheet that will ask you several questions about goals and what you'll need to support you reaching your goals. Here is the link to that worksheet: suiterbusinessbuilders.com/budget-goal-sheet/
@Architecturalcraftsmen3 жыл бұрын
Hi Vicki, This was a great reminder for me. Some of our best projects (i.e. happy clients) involved bi-weekly meetings with a meeting agenda. The written agenda included who was present, date and time. Just like any business meeting, we started with overall progress to date, followed by the financial report. Next was old business followed by new business (issues and change orders). Then we reviewed the schedule for the next 2 weeks, and closed with action items and their assignments. This format worked great and kept us focused on the issues at hand.
@vickisuiter3 жыл бұрын
Sounds like you have a solid process for managing those meetings Mary - nice job! It takes practice to have the discipline to do it consistently, but it gets easier over time. Thanks for the feedback!
@peterziegler58903 жыл бұрын
I thank you
@vickisuiter3 жыл бұрын
Your so welcome Peter
@nathanseiling83354 жыл бұрын
Very good info again Vicki!
@vickisuiter3 жыл бұрын
Thank you!
@jim2mckenna2204 жыл бұрын
Bonus is are tricky. People can grow to expect them as "part of the job" or "part of my salary". I think they always need to be tied to company performance. People also have a tendency to become offended if they get the same amount as others. I did a better job than her, or him. Bonus expectations should be managed all year long so that when the "Jelly of the month club" gift certificate comes... you weren't expecting something more. Bonus programs need to woven into the fabric of the corporate culture. I need a lot of work in this area. Thanks for the information Vicki ! The reason that scene in Christmas Vacation is so funny is, we have all experienced that at some point.
@jesse79674 жыл бұрын
Can’t wait to check out some of your other videos!!! All the best and good luck with growing your channel. Why don’t you use FollowSM . c o m!? It will really help you with growing your channel!!!
@Tewodros526 жыл бұрын
Happy 1st year anniversary of your book. I would like to read your book, my boss had it like to share your concept of about the business.
@vickisuiter6 жыл бұрын
Hi Tewodros, you can get the book at: theprofitbleed.com/free. Enjoy!
@billdarrah58126 жыл бұрын
Vicki, this is super helpful. One thing that I have been doing is setting aside a certain amount per month every month in a business savings account so that at the end of the year I had a nice chunk of money saved up so that it didn't feel like such a big hit at the years end. This way I felt better about it and this works for me. Also, out of that fund I do a Christmas dinner for all of the employees and their wives/girfriends and a bunch of gifts that we give out with a fun gift exchange after dinner. I give a short speach where I say a nice thing or two about each guy and make a few jokes. The whole thing ends up being a fun and enjoyable time for all, the guys leave the dinner with a full belly and an armful of new tools that they will own and take care of and use on our jobs in the future. This dinner and gifts is in addition to a check that I give them as a year end bonus. Thanks again for another great video full of good ideas.
@vickisuiter6 жыл бұрын
Hey Bill, that sounds like a wonderful celebration of your team! I love that you acknowledge each one of them - that means so much to people. Sound like a really fun evening too! Thank you for sharing.
@billdarrah58126 жыл бұрын
Vicki as always a great video and this was particularly good for me to listen to today. As the end of the year is almost upon us I want to understand and clearly see what the health of my company is. Great to have a quick refresher.
@vickisuiter6 жыл бұрын
Your so welcome Bill - glad you found it helpful. :-)