how to fix the "profit problem" in your field service business

How to fix the “Profit Problem” In Your Field Service BusinessPresented by Service Autopilot™

Learn how to NOT waste 80% of your day!

“Do you feel like you're working 60 hours a week in your business

but not making any money?”

You are Not Alone…

You wouldn't have started a

business UNLESSYou wanted to make money

from it.

However most service businesses average around $50,000 a year…

and never grow beyond that.

Which is why so many business

owners become frustrated and

Give Up on their business.

If, however, you'd like to grow your business, there

are actions you can take to ensure your profits grow

each year.

How to increase revenue to $1 million in only 5 years!

• Set goals that have a specific number and time frame, which will vary depending on your specific business.

• For example, grow the client list by 10 clients in the next 12 months.

#1: Set Goals

Move on to the next goal as you achieve

each one, but continue working on the previous goals as well.

Goals to work on (in order)

1. Add more clients (do this every year)2. Market your business (do this every year)—initially you will

have to figure out which channels work and which don't3. Upsell your existing clients (do this every year)—sell more

services to every one of your clients4. Hire employees—both office and on your service teams5. Educate yourself on how to improve your business—

• Where can you cut costs?• How do you find new customers?• How do find good employees?• How do you improve customer retention?

6. Get yourself out of the field if you haven't already. Focus on working on the business, not in the business

2. Watch Your Non-billable TimeNon-billable time is hours that your field employees are not performing the actual work.

How nonbillable time causes you to throw profits away!

• Time spent on paperwork in the field—if a team loses 15 minutes each customer filling out paperwork, that's non-billable time and it adds up fast!

• Time spent driving between —that's one reason route density is so important. If you can keep all your jobs for a day close together, you cut down on your driving time, and therefore your non-billable time.

Non-billable time

includes:

See if you can automate

processes or find other ways to reduce non-billable time.

Be aware of how long it takes to perform every job and how much

you're charging for it.

Why is this number so critical to success?

3. Watch your per-man-hour

rate

Every service you offer should have a per-man-hour rate.

For example:• Cleaning a house—$45

per man hour• Mowing a lawn—$45

per man hour• Irrigation work—$75

per man hour

It is critical that you keep a close

eye on whether or not you are

reaching the per-man-hour rate for

each job.

If not, you will need to increase prices, cut services,

cut costs, or make other changes.

4. Watch your financials carefullyYou should also be tracking your profit and

your own pay.

Why you should put profit FIRST in your business.

Most businesses put revenue into one bank account and then

pay all bills out of that same account.

Next thing you know there is no extra money to pay you or to set aside as profit.

The solution is to set up separate bank accounts.

Put revenues into the accounts in the percentages as shown.

Owner's Pay (10%)

Operating Expenses

(70%)

Taxes (5%)

Profit (15%)

Start off slow, however, putting only 1% of

income into the Profit account the first

month. The following month increase that by

another 1%.

These actions are all proven methods that can help propel your service business

beyond the $50,000 level and into the million dollar level if you'll do the work.

Service Autopilot offers software built specifically help service businesses grow.

Take a virtual tour today!

Service Autopilot’s Academy helps you improve your business by putting you in touch with other business owners and

mentors that can also help you to grow.