Restoration Matters

Restoration Matters blends practical business advice and inspiration within the context of the restoration space. As an industry partner, business broker Gokul Padmanabhan shares his wisdom and expertise, helping business owners create healthy, profitable businesses that perform well now to sell well later.

Want to learn more about RBA? Check them out at www.rbasells.com.

Who Says Planning Has to be Hard?

If you’re like me, then now is the time of year when you’re finalizing those important plans for next year. It’s an important way to step into a new year with major goals in mind. I don’t know about you, but I don’t need a 30-page business plan that’s going to sit on a shelf somewhere collecting dust for 12 months.  What I’ve done for years, with continued success, is to create a 1-page plan that communicates to my team what’s most important to our path forward.  If I were to look at you

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Embrace the Owner Mindset

You know what I’m about to say…you’ve heard it before. But it’s VERY HARD to be consistent, so allow me a moment to remind you once again. The Owner Mindset means working yourself out of more and more of the day-to-day so you can change how you use your time to take your company to the next level. And the next. And the next. You need to grow for your company to grow. Easy to say; hard to do. You start as a Rainmaker, right? Actually, THE ONLY Rainmaker. Nothing happens unless you sell

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Thinking Profit-First

Thinking Profit-First can be the most generous strategy of all. Here’s what I mean… You can’t pay your employees more, you can’t hire more employees, you can’t improve your service delivery to customers, you can’t support worthy causes, and you can’t expect to be around for long if you aren’t making a profit. And, just so nobody forgets, buyers don’t buy sales, they buy profits. To put it simply, without a profit-minded approach, no one wins. We see it all the time. Thinking profit-first isn’t as simple as charging more than it costs you

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Playing Financial Offense: My Strategy for Business Success

Successful business owners know that understanding your finances is key. I’ve seen firsthand how top performers always know their numbers inside and out, and that’s what helps them make smart decisions and keep their companies on track.  Getting a grip on the basics—things like financial reporting, profit margins, and overall profitability—is important to getting the most out of your business. When companies take the time to break down each job or project, it becomes easy to see how that job impacts the bigger picture.  If you can talk accounting basics like WIP reports and

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Customer Centric

Delighting your customers to grow your business is the same today as it was a century ago. Sure, we have some extra toys and technology to get the job done, but the fundamentals of the game never change. Sometimes, we have to stop searching for the magic formula and get back to basics – block and tackle – fundamentals. The meaningful advancements in your business come through connection. When I bought my pool screen contacting business several years back, we had a 2.2 rating on Google. The staff looked at customers as a problem,

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Stay On Purpose in Your Business

Business ownership is a personal journey. Each day, you’re making the important decisions that will continue to impact your bottom line. There’s a constant balance of risk and reward, investment and return, time spent versus benefit earned.  In my business, I’m in a unique spot, watching as owners like you build successful businesses and make big contributions to the industry. I look at companies and talk to owners from all over the country. It’s the nature of my business. From my vantage point, I have a bird’s eye view into what’s working and what’s

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Planting Seeds Isn’t Seasonal

What is top of mind for you as you make your way through the busy summer season? It’s probably the million things required to handle the surge of projects coming in the wake of summer weather events. Allow me to add one more thing to your long list of priorities – do NOT forget about the Fall. Keep. Planting. Seeds. When things get busy, don’t forget about doing the things you need to do NOW that turn into business in 3-4 months. A garden analogy really fits here in some ways. If you want

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Long-term Loyalty and Considering the Lifetime Value of Your Customer

We talk KPIs and analyzing data a lot when discussing the health of your business and how to really build a business that performs. One of the most important KIPs for me? The lifetime value of a customer. Are you tracking your customer journey and considering their value in the future or simply today? Service revenue is driven by the lifetime value (LTV) of your customers, and despite the nature of emergent disaster restoration projects, considering your LTVs gives long-term perspective in a space where the immediate transaction is often top of mind. In

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I Haven’t Found a Handbook Yet that Prepared Me for Business Ownership

It’s been a few, well, decades since my college years, but as I look back, I don’t ever recall anyone offering a class on what it means to be a business owner. Sure, I took all of the business finance classes, a marketing course or two, and many business classes with textbook answers. Most of those courses taught me how to work in someone else’s business. The path less traveled to business ownership is filled with highs and lows. It’s a space where what you do every day affects the livelihoods of others and

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Making Your 2024 List Smaller

We’re nearly three months into our 2024 goals, and if you’re like most restoration business owners– and honestly like most of us on this planet – you haven’t checked off as many goals as you’d like. The truth is, that’s normal. Goals for the new year tend to be big, and that doesn’t always give us a lot of positive momentum toward knocking down what we set out to achieve. Going into Q2, let’s try a reset. Add smaller goals or break down larger ones into smaller steps.Think 30-day and 60-day goals, things you

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