Managing Your Restoration Business

RSS

This is the third in a series of articles on how to get paid for insured restoration work. The first two articles focused on accelerating payments from insurance companies and from banks holding two party checks in escrow, mostly in homeowners insurance claims.

When hurricane season arrived this year, the U.S. had not seen a Category 3 or larger storm make landfall in more than a decade. Then, not one … but two did just that.

Years ago, while preparing a project management seminar for the Restoration Industry Association (RIA), I was asked to include a section on upselling strategies. At first I was reluctant, feeling the topic was inappropriate for the subject matter of the course. However, upon presenting the material and seeing the reaction of the audience, I recognized the need.

According to the IRS, two-thirds of all businesses fail in their first five years. One of the major reasons this happens is not from a lack of business, but from a lack of cash.