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Using a Revenue and Profit Budget: Pest Control Business
Revenue and Profit Budget: Pest Control Business
This week I’m writing about using a Revenue and Profit Budget in a Pest Control Business. Your budget should forecast discretionary cash-flow, identify your required working capital, and demonstrate your ability to service debts and deliver a return to investors(which may be you).
I have been writing about some of my hero clients and how we are achieving significant results. We have 36 Coaching Modules which are areas within your business under the categories of growth, profits, and freedom. So, when we improve your performance, your business will run better.
Jonathan’s Pest Control Business
After reading one of our social media posts about budgeting, Jonathan contacted me. As the owner and founder of the business, he had been able to grow it steadily. Yet, Jonathan wanted to learn about budgeting and how to put in place a Revenue and Profit Budget in his business. He had had some financial setbacks throughout the years. At that moment, his daughter would soon be leaving for college. So, he wanted to take his large family to Hawaii for several weeks. Additionally, he planned to travel frequently with his daughter to her volleyball tournaments.
The Revenue and Profit Budget Implementation
We took Jonathan through a coaching module and provide a revenue and profit budget template for him to fill out. After a couple of iterations, we had the budget finished, which included sales, gross profit, expenses, net profit, and cash flow. This is a great tool to set goals for all the above and then monitor your actual performance against your goals. It also serves as a great check and balance for surprise sales and expenses. It helps you to “know the story” of your business’ financial performance.
Other Coaching Modules for Jonathan
As we began to review his business, we saw an opportunity to put in place some of our other Coaching Modules in his business. At first, we decided that a Tactical Marketing Plan and a Break-Even Plan could help Jonathan. But we also decided to increase his pricing and standardize his billing. We were able to develop his Strategic Plan and then held a plan deployment meeting with his team. We worked weekly on deploying these strategies.
The Results for Jonathan’s Pest Control Business
As a result of these strategies, we saw a significant increase in Jonathan’s sales and profits. Here’s what Jonathan said:
“Using Small Business Coach Associates has been a real benefit to my company. Alan has the perfect combination of business knowledge and real world experience. His willingness to help and hold me accountable have helped me in positive ways that I couldn’t have anticipated. After only working together for 3 months we have deployed 3 strategies that will increase my small business profits by 90% in the next 12 months.”
Congratulations Jonathan on growing your sales and profits using a revenue and profit budget in your pest control business. You are a business hero and an inspiration to all of us!