BOSS Elevation Group
The goal of the BOSS Elevation Group is to uncover strategic ways to run your business by maximizing the power of BOSS.
“The BOSS Elevation group was a great in depth look at several key features of BossLM. Talking about the details of implementation with other owners and super users was invaluable for gaining an better understanding of the software.”
– Marcus Kerske, Gardens of Babylon
“The BOSS Elevation group meetings are a good investment for so many reasons. Being able to network with other BOSS users helps you find others who have the same business goals as you do and those relationships outlast the meeting. Taking the time to review topics you may already use is just as beneficial as learning a new topic in these meetings. There’s always something you can do better and you learn that when you hear others speak about it. Our company took a concept back from this meeting that will increase our billing efficiency by about 10 hours per month. Take the time. Spend the money. Your business is worth it!”
– Amanda Hartshorn, Schendel Lawn & Landscape
This event will be a workshop where you’ll be interacting with other BOSS users and experienced facilitators, as you learn from each other how to elevate your BOSS game.
8 am – 5 pm
We’re pleased to invite Greg Herring (The Herring Group) to guide part of the workshop this year.
Profitability Workshop by Greg Herring
For business owners who struggle with feeling spread too thin, The Herring Group offers financial dashboards and a systematic support process so that you can make decisions with great confidence and enjoy more margin and less stress.
During our next BOSS University, Greg Herring is going to demonstrate his system live. You will learn the system and begin implementing the system using your BOSS LM data live as he teaches his system.
A landscape business is like an engine. An engine has many parts. If you are missing some parts, the engine might still run, but it will not run the way it should. You won’t get the horsepower, gas mileage, or reliability that you should. There are gauges and instruments that tell you how the engine is operating and what may need to be fixed. In the same way, a growing, profitable landscape business has many parts. Understanding its efficiency and reliability requires data, just like an engine. Greg’s system will show you how “your engine” might be able to run better or, at a minimum, give you the data so that you and your team have confidence in the business’ performance.
Here’s what you will learn and do during the seminar:
- Understand how to use BOSS LM, your Accounting System and Greg’s Excel spreadsheets in a coordinated fashion to identify the most profitable and least profitable (and even money-losing) parts of your business.
- Gather all of the items required to determine the full load needed for your labor rates for input into BOSS LM. (It’s easy to leave a few items out.)
- Set a profit target for each segment of your business and understand the impact to your bottom line.
- Evaluate budget to actual service times to “dial in” the labor time element in BOSS LM for future proposals.
- Find the “gold” in your customer base. We will also find the unprofitable customers.
Greg’s system is based on his many years of experience working with landscape businesses. Drawing on his experience as a CFO and COO, Greg has observed the following fundamental truths of a landscape business:
- Greater profitability (pre-tax net income divided by revenue) means more cash flow each year and a higher valuation upon a sale of the business.
- Greater profitability means an owner has more options as he or she makes decisions about life and business.
- Profitability, not revenue growth, is the sign of a healthy landscape business. (He believes a landscape business should have pre-tax net income in excess of 10% of revenue. At BOSS University, he will show you the system for getting there.)
- BOSS LM is a necessity for managing the growth and profitability of a landscape business.
- Managing a landscape business is complex because there are many places where a landscape business can lose efficiency, reducing profitability. Therefore, the owner’s approach to increasing profitability must be comprehensive (not just focusing on one part of the business) and part of a continuous process. (Greg developed a comprehensive and continuous process, which is what he will be demonstrating at BOSS University.)
- Labor is a precious and limited resource in landscape businesses now. Management must focus on specific reports to make sure that the company is using its labor to generate optimal profits. (He finds that many companies are essentially writing checks to some customers for the privilege of serving those customers with the company’s precious labor.)
- Expenses at landscape businesses do not scale. For example, in dollar terms, G&A expense will be twice as much at $10 million of revenue as it is at $5 million. Therefore, landscape businesses cannot grow their way to increased profitability.
To be clear, Greg’s 10% or greater goal is not the end; it is the means to the end. Achieving profitability of 10% or greater means that your company is healthy and valuable. It means you, as the business owner, have options – more options than if you are trying to make it work with profitability of 4% (the industry average in Greg’s last benchmark report). You have more options on how to spend your time, more options for expanded services, more options for hiring people and paying your star performers.
Greg’s system will also reduce your stress. You will learn a system that provides reports to your key managers and employees so that they can manage the business, instead of you. The owner moves from managing and making every decision to leading and empowering managers to make decisions so the owner does not need to do so. The system provides the reports and the accountability.
Those ends, more options and less stress, have great value; learning and implementing Greg’s system is how you get there.