A clear plan will keep your business and family financially stable if anything happens to you

In the plumbing world, it’s common for business owners to get caught up in the day-to-day work without having a clear understanding of where they want the company to be headed

Clear goals for your company will help ensure that the day-to-day operations that are so easy to get wrapped up in will be focused on aiding your long-term prospects

The final part of this series on conducting a SWOT analysis for your business takes a look at the final two items you examine after determining your business’ strengths and weaknesses

As 2020 winds down, now is a good time to assess your marketing practices and what you want to accomplish in that area in 2021

It’s important to carefully track your cost variance on jobs since even small tweaks can have a big effect on profit margins

Here’s a look at assessing the first two items when conducting a thorough SWOT analysis of your company’s operations

Establishing a solid strategy for passing on your business — whether it’s staying within the family or transitioning to a different owner — can only be accomplished by doing some planning well ahead of time

2020 has been a year of survival rather than long-term planning. While we’re not yet beyond the pandemic, now can still be a good time to start thinking about how to best position your business for the future.