Posted by:  12:55 PM CST

Knowing the difference may save you thousands of dollars each year. Pay sales COMMISSIONS for work you would not otherwise get. Pay no commission for TPA work assigned to you. Mitigation doesn't require a sales effort. Imagine a customer ankle-deep in water saying, Well, let me think about this. I think I want (more)

Thursday 26 March 2020
Posted by:  12:07 PM CST

You've been here before! The Great Recession of 2008 put 1.5 million construction people out of work. Half of all remodeling companies were crushed by the financial downturn and out of business in 2012. Bankruptcy, foreclosures, and early retirement – here we go, again! I talk with a lot of restorers and (more)

Posted by:  7:08 AM CST

Not an equipment inventory, but an inventory of your life and business. Life-changing inventories begin with reflection, followed by a plan, and are completed with commitment. Personal Reflection: What do I like least/most about myself? What is most/least satisfying in my marriage? What do I do best/poorly as a parent? What experiences contribute most/least to my (more)

Posted by:  6:56 AM CST

The traditional troika of restorer's marketing insurance agents, plumbers, and property managers is dead. Can you imagine sitting across from an insurance agent, each wearing protective gloves and a mask and having a conversation? In the age of Coronavirus, you can't even find them in their offices. So, what are you (more)

Posted by:  7:57 AM CST

Some Restorer's stay out of rebuild work because of myths and misinformation. Here are the facts! What about licensing? 50% of States don't require a GC license, and many others require a Home Improvement License requiring a simple application and fee. Xactimate doesn't pay enough. Xactimate pays $80 PH to hang drywall in Indianapolis, $105 (more)

Posted by:  10:58 AM CST

During this pandemic, full-service is more crucial than ever. Damage repair customers don't want to deal with the added dangers of multiple companies, multiple managers, and multiple offices. They want you to do it all! TPAs urgently want full-service contractors. One of the largest TPAs told me that single trade contractors – (more)

Sunday 15 March 2020
Posted by:  11:55 AM CST

In the face of the global pandemic and US national emergency, life has changed. What can Restorers expect for your business and work? Protect your workers: · Check them daily for fever and other symptoms · Encourage them to honker down outside of work · Use disposable gloves and masks especially when in the (more)

Posted by:  6:42 AM CST

I know one contractor active on 4 TPAs that represent 42 insurance companies. Another is active on 26 carriers through Contractor Connection alone. A single TPA gives you access to a large number of individual carriers producing a huge volume of work. Many carriers offer multiple programs, including Mitigation, Fire & Smoke, Rebuild, (more)

Posted by:  9:29 AM CST

The sectors hardest hit by the Great Recession were financial services and construction. 1.5 million construction workers lost their jobs. 50% of remodeling companies were out of business by 2012. A 2014 study indicated that among the most recession-proof industries were cleaning and repair. Restoration is non-discretionary and is therefore resilient (more)

Posted by:  10:36 AM CST

What profit margin does your water division, rebuild division, or mold division produce? Job costing provides the per job profit margin, but how do you get the division-wide profit margin of all similar jobs? Xactimate charges are comprised of three components; equipment, material, and labor. Your Cost of Goods Sold (COGS) (more)