A Plan of Attack for June
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When I think of June, three words come to mind: “IT’S GO TIME!” The storms are rolling, and hopefully your crews are, too. Many roofing companies make 20% of their annual revenue in June alone, so it’s super important to make the most of this month.
Here’s where to focus:
Fixate on financials
I know, I know—selling and installs are keeping your hands full. But you have to stay on top of your financials. Keeping a close eye on your P&L, cash flow statement, and balance sheet will help ensure that your financials are in order so you can handle the busy season. Speaking of which …
Send updated financials to SquareDash for credit line review.
We rely on up-to-date financial information to determine your SquareDash credit line. So to make sure those payment advances are available when you need them, be sure to share your most recent financial records with our team.
Go all-in on supplementing.
If you’ve already got jobs in progress, you may find that—surprise!—the adjuster didn’t allow for adequate materials or labor to complete the job. Don’t wait—start the supplementing process now to maximize your cash flow throughout the season.
Collect outstanding balances on property owner invoices.
Nobody loves doing it, but collecting from homeowners is vitally important. If you’re already a SquareDash customer, the good news is that the process can be completely digital. Not a customer yet? You’ll have no choice but to drive all over town chasing checks. (We can fix that. Holler!)
Start requesting depreciation-only advances on open jobs.
Waiting for the insurance company to cut that second check is no fun at all. It can be a real cash flow killer. So get those requests in for depreciation-only advances on your open jobs. Having that money in hand can be a total game changer as you work to balance income and expenses.
Be a selling machine! (Was that thunder???)
Knock knock! Now is not the time to let off the gas of your sales efforts. It often comes down to being in the right place at the right time, so the more homeowners you can get in front of this month, the more likely it is that you will be top of mind when that next storm rolls through.
Reach out to satisfied homeowners for referrals.
Last tip for June—a good word from a happy homeowner is often your most effective marketing tactic. And in general, we’ve found that when you do good work, homeowners are happy to take a few minutes to provide a referral. So get those requests out—you can never have too many referrals.
On the blog: Take your profit first
As business owners, we often think of profit as whatever’s left over at the end of the month. But in this blog article, Matt explains a concept that gives you a whole way to think about cash flow and profit.
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[Read it now]
How can we help?
As you head into storm season, remember that SquareDash is here to help you crush your cash flow goals. You can email us with questions or to schedule a demo of our platform. And, feel free to follow us on LinkedIn, Facebook, Instagram, and YouTube for more ways to run your business better.
About SquareDash
SquareDash is a veteran-owned financial services company based in Dallas, Texas. Our proprietary fintech platform is solving the cash flow crisis for contractors around the U.S. who deal with insurance claims. Learn more at SquareDash.com.
Let’s Talk About Your Business.
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