Les Cunningham, CGC,CR,CCR,CGRa, is president and CEO of Business Networks, Inc. He is a restoration industry expert and can be reached at 1-800-525-1009, ext. 14 or e-mail him at Les@BusinessNetworks.com
Working with third party administrators is pretty much a normal way of life for restoration contractors in the U.S. Only a select few companies have chosen the path of completely finding work on their own, and bypassing TPA work.
Where do you get your business information from? Usually it’s from attending a convention, a newly hired employee from another company, one of your subcontractors or vendors that tells you something about what a competitor of yours is doing.
Sales, ownership, administration and production: four necessary categories in every restoration company. The smaller the company, the more likely it is that these four categories are being managed by the owner.
An important component of governance and also an excellent practice is to hold family business meetings. It is easy for families to be consumed by the day-to-day challenges of running the business, which often includes meetings that deal with the granular details of the business.
Since the 1980’s, scholars and practitioners have made significant strides in their efforts to advance our understanding of family businesses through scientific research, consulting, professional literature, and popular books.