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. 

In the last few years, contractors have been bragging about how profitable their water mitigation business has been for them.

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.

“A healthy business family is not tied up in knots with tension; the individuals have trust in each other and the future and are able to make use of each other’s abilities and knowledge” 

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.

Have you ever thought about your sources of business information as to what is true and what is not?

How would your company hold up to a surprise white glove inspection of its written policies?