Complete Financial Management Department Training Track

Financial Management Department Training Track

This online training track is for all contractors who want their HVAC business to become a Lean, Mean, Money-Making Machine. This department track integrates seamlessly with either the retail residential or the commercial service business tracks. There are 7 sessions available 24/7 right at your desktop in this 7-Step Financial Management Department Business track.

Upon completion of each session we will provide you a link to immediately download the handouts, along with an offer to discuss or request implementation help from your assigned HVAC Business Fitness Coach.

This track includes a 7-step Financial Management Department Implementation Training track, tools to help you quickly establish daily growth, spending, and operating benchmarks to help you proactively improve your businesses performance, our BudgetPro forecasting program, accounts receivables accounts payable, and inventory control procedures, associated forms, and tools and private coaching support. To view more details on the deliverables and business support services for this track, click here for the Residential Track or click here for the Commercial Track.

Once enrolled into a Ready-Built HVAC Program Package, you will then register for this training track by simply clicking on “Client Login” on the right over the menu bar above. Then enter your User Name (email address) and enter the password we provided you.

FM-STEP #1.0 Pricing for profits

Learning objectives:

  • In this session you will learn how to read a financial statement and how to break down your revenue and expenses by product/service to help you establish company pricing rates and policies.
  • Benefit objective is to improve profitability and competitiveness by pricing your work correctly.

Benefits - at the completion of the learning session you will:

  • Have the skills to read an income and expense statement.
  • Be able to breakdown financials by product/service category.
  • Establish pricing sell rates by work category.
  • Establish your demand service labor sell rate.
  • Publish your pricing policy and procedures.

Who should attend:

  • Anyone responsible for establishing pricing rates for any work category. Typical attendees are Owners, Operations Mangers, Sales Managers, Sales Reps, and Service Managers.

FM-STEP #2.0 Business Performance Benchmark set-up

Learning objectives:

  • In this session you will learn how to establish growth, spending, and operating benchmarks to help you proactively improve your businesses performance.
  • Benefit objective is to help you to systematically improve revenue and profitability by driving business performance benchmarks in a positive direction.

Benefits - at the completion of the learning session you will:

  • Understand what performance benchmarks are and why they are needed.
  • Understand how to establish expense and operating performance benchmarks and management rules to easily identify and effect change to stay on track.
  • Understand how and where to begin using benchmarks.

Who should attend:

  • Anyone responsible for establishing pricing rates for any work category. Typical attendees are Owners, Comptrollers, Operations Mangers, and Service Managers.

FM-STEP #3.0 Invoice and Proposal "Risk & Liability" protection terms and conditions

Learning objectives:

  • In this session you will learn the importance of protecting your business’s cash payments and job related risks and liabilities and how to implement appropriate terms and conditions policies and procedures for all work categories.
  • Gain an understanding of why terms and conditions can truly help to limit business loss exposure and give you peace of mind.

Benefits - at the completion of the learning session you will:

  • Have the skills to publish and implement appropriate terms and conditions and transaction controls.
  • Be able to conduct on-going evaluations and updates of your terms and conditions.
  • Have a company terms and condition monitoring and control process that minimizes losses due to unauthorized changes or missed terms and conditions on company transaction proposals or invoices.

Who should attend:

  • Anyone responsible for establishing transaction risk liability and protection management strategies for all work categories. Typical attendees are Owners, Operations Mangers, Sales Managers, Sales Reps, and Service Managers.

FM-STEP #4.0 Implementing Inventory Control procedures

Learning objectives:

  • In this session you will learn the importance of, and how to implement, inventory control policies and procedures for all work categories.
  • Gain an understanding of the benefits fo inventory control to improve cash flow timing, to reduce expense overruns, and to ensure customer satisfaction.

Benefits - at the completion of the learning session you will:

  • Have the skills to publish and implement appropriate inventory cost controls within each work category.
  • Be able to conduct on-going evaluations and updates of your inventory control procedures.
  • Have a service related company tool and inventory control process that minimizes costs while reducing your employees’ risk of injury.

Who should attend:

  • Anyone responsible for establishing inventory controls for truck stock, non-truck stock, tools, and service agreement, equipment, materials, subs, and company and truck tools. Typical attendees are Owners, Operations Mangers, General Managers, and Service Managers.

FM-STEP #5.0 Implementing Collections and Accounts Receivable procedures

Learning objectives:

  • In this session you will learn the importance of, and how to implement, collections and accounts receivable policies and procedures for all work categories.
  • Gain an understanding of why accounts receivable (AR) management can truly help provide you with cash when you need it.

Benefits - at the completion of the learning session you will:

  • Have the skills to publish and implement appropriate AR controls.
  • Be able to conduct on-going evaluations and updates of your AR control procedures.
  • Have a company AR management control process that maximizes cash flow and reduces collection costs.

Who should attend:

  • Anyone responsible for establishing transaction risk liability and protection management strategies for all work categories. Typical attendees are Owners, Operations Mangers, Sales Managers, Sales Reps, and Service Managers.

FM-STEP #6.0 BudgetPro Financial Management and Labor Forecasting program set-up

Learning objectives:

  • In this session you will learn how to navigate, set up, and use the BudgetPro financial management and labor forecasting tool.
  • Benefit objective is to obtain a fast and objective way to manage your cash flow and labor as well as to improve profitability.

Benefits - at the completion of the learning session you will:

  • Have the skills to implement a financial and labor management system within your business.
  • Be able to accurately and quickly adjust your financial and labor position in response to changes in your market and revenue.
  • Have a company financial and labor control process for your business that reduces costs while maximizing net margins.
  • Have the skills to establish a budget for your company to be able to monitor, measure, modify, and enhance your financial performance.
  • Be able to perform an analysis of your existing business and identify future trends for your company’s cash, labor, and resource requirements by work category.
  • Obtain a visual financial management road map to the future success of your business.

Who should attend:

  • Anyone responsible for financial and cash flow management and establishing gross profit margin pricing rates for all work categories. Typical attendees are Owners, Operations Mangers, General Managers, and Service Managers.

FM-STEP #7.0 Business Evaluation and Improvement Plan

Learning objectives:

  • This is an on-line business evaluation which results in your customized improvement plan.
  • The “Business Evaluation and Improvement Plan” includes:
    • Where specifically in your business gains exist in process changes and profit.
    • A list of the tools available to you within our program to obtain identified profit gains.
    • What your business’s cash engine is worth today.
    • What your business’s cash engine could be worth on the same book of business with the recommended fixes implemented per the Plan.
  • Simply click HERE to open another window with the “Contractor Needs Analysis” survey.
  • The online “Contractor Needs Analysis” survey has 77 yes/no questions and takes about 20 minutes to complete.
  • A 6-page plan is sent to you within 24 hours upon hitting the submit button at the end of the survey.
  • At no obligation to you, one of our expert coaches will call you to discuss your unique situation and help identify which departmental track you should start first.

Benefits - at the completion of the learning session you will:

  • Be able to accurately and quickly adjust your business development tasking efforts based on the greatest potential for gain for the business.
  • Obtain a visual business management road map to the future success of your business.

Who should attend:

  • Anyone responsible for financial and cash flow management and establishing gross profit margin pricing rates for all work categories. Typical participants are Owners, Operations Mangers, General Managers, and Service Managers.