So you decided to go to the Texas Coast after much discussion! You had been told that if you came down you would have all of the work you wanted and or could handle. You would figure out where you were going to stay when you got there. You drove straight through, anxious to get there and anxious to get started.

Let’s talk about what you need to know in order to decide whether or not you and your company are up to leaving home plate to work a CAT storm outside of your normal work area.

According to the IRS, two-thirds of all businesses fail in their first five years. One of the major reasons this happens is not from a lack of business, but from a lack of cash. 

Working with third party administrators is pretty much a normal way of life for restoration contractors in the U.S. Only a select few companies have chosen the path of completely finding work on their own, and bypassing TPA work. 

In the last few years, contractors have been bragging about how profitable their water mitigation business has been for them.

Where do you get your business information from?  Usually it’s from attending a convention, a newly hired employee from another company, one of your subcontractors or vendors that tells you something about what a competitor of yours is doing. 

Sales, ownership, administration and production: four necessary categories in every restoration company. The smaller the company, the more likely it is that these four categories are being managed by the owner.

An important component of governance and also an excellent practice is to hold family business meetings. It is easy for families to be consumed by the day-to-day challenges of running the business, which often includes meetings that deal with the granular details of the business.

“A healthy business family is not tied up in knots with tension; the individuals have trust in each other and the future and are able to make use of each other’s abilities and knowledge”