October 2024

Cash Flow and Grow for Roofers - SquareDash October 2024 

October is here, and that means—it's officially "Chasing Checks Season" in the roofing and restoration industry.

Like you, I’ve been there— scrambling to get my financial ducks in a row before the holiday rush and the end of the fiscal year. But fear not. We've got some tips to help you sail through this season smoothly and set your business up for success.

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- Matt Frugé, Founder and CEO

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The Ultimate October To-Do List

Here are the top 7 things to do to ensure your roofing or restoration business continues to thrive in Q4.

1. Evaluate Vendor Relationships and Key Partnerships
   First things first. Take a good, hard look at your vendor relationships. Are they delivering the value you need? Are your partnerships still mutually beneficial? Now’s the time to renegotiate terms or even consider new vendors who might offer better pricing or more reliable service. Remember, a strong roofing and restoration industry vendor relationship can be the backbone of your business.
2. Deep Dive into Financial Statements
   Grab a cup of coffee and dive into your financial statements. Seriously, it's time to get cozy with your profit and loss statements, cash flow reports, and balance sheets. Understanding where your money is coming from and where it's going is crucial. Look for trends, identify any red flags, and make adjustments as needed. This is your chance to catch any financial hiccups before they become full-blown issues.
3. Submit Updated Financials for SquareDash Claim Funding Line Review
   If you're using SquareDash (and if you're not, you should be.😉), submit your updated financials to establish or increase your claim funding limit. This can provide you with the extra financial cushion you might need to tackle upcoming projects or unexpected expenses. Think of it as your financial safety net in the slow months and gasoline for your growth in storm season.
4. Collect Outstanding Balances on Property Owner Invoices
   It's time to chase down those outstanding balances. Reach out to property owners who still owe you money. A friendly reminder can go a long way. The sooner you collect, the better your bottom line will be, allowing you to reinvest in your business and avoid taking on unnecessary debt.
5. Request Depreciation-Only Payment Advances on Open Jobs
   For those ongoing projects, start requesting depreciation-only payment advances. This can help you cover immediate expenses without waiting for the entire claim to be processed. It’s a smart way to keep your cash flow steady and your projects moving forward.
6. Full-Court Press on Supplementing
   Now's the time to go all-in on supplementing. Ensure that you're capturing every possible dollar from your insurance claims. This means being meticulous with documentation and proactive in communicating with insurance companies. The more thorough you are, the better your chances of maximizing your claim payouts.
7. SquareDash Billing and Claim Funding
   Navigating "Chasing Checks Season" doesn't have to be a roofing or restoration business nightmare. By taking proactive steps to evaluate your vendor relationships, diving into your financials, leveraging tools like SquareDash, and staying on top of your invoices and claims, you can turn this challenging time into an opportunity for growth and stability.

So, let's get out there and make this October our best one yet. Happy chasing, everyone.

How Much of Your AR Balance is Tied Up in Depreciation Checks? 

Not sure? Let us help you find out. Our national account executive, Heath Gover, has decades of experience in the roofing industry—and he’s here to help you stop being a bank for insurance companies. Schedule a consultation today, and he’ll help you turn those receivable balances into cash in hand. 

It’s Not Too Late to Claim Your Chad Michael Tickets

SquareDash is the banner sponsor for Chad Michael’s 2024 tour. Who is Chad Michael? He’s the founder of Insurance Restoration Training and a mastermind at helping roofers build better estimates. 

You can get tickets for $100 off by entering the promo code SQUAREDASH during checkout. 

Our very own David Summerly will be in the following cities during the tour, so connect with David if you’d like to meet before or after the event. 

• Houston TX — November 8

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Join Us at RoofCON 2024!

SquareDash is thrilled to announce our participation in RoofCON 2024, October 23-25 at the Orange County Convention Center in Orlando, FL. Visit us at Booth 819 to discover how we can help your roofing and restoration business unlock immediate cash flow and streamline your billing processes.

Don’t miss this opportunity to learn how to solve one of the biggest challenges in the industry—schedule a time to meet with our expert team by calling us at 214-740-6148. Let’s transform your cash flow together!

We’re Hiring—And We Want YOU

We have a few exciting job openings on our website and are looking for the best of the best, no matter where in the world you live. 

We’re looking for passionate roofing and/or restoration industry professionals who enjoy wearing many hats and have experience working in scaling startups. As you know, we’re setting out to revolutionize how contractors get paid. Can you help us achieve our goal? 

Check out the openings on our Careers Page and apply today.

Connect with Us

Sales 214-740-6148     |     Support 817-730-5837