Dec. 2, 2021
Topic: Is Your Pest Control Company Financially Fit?
Guest: Anthony Pepe, managing member of PCO Bookkeepers
In this episode we discuss:
What financial discipline is and how to achieve it in your company
The financial task both Dan and Donnie do every morning
Why a meaningful chart of accounts is the first step to getting clean financials
What a chart of accounts for pest control should include
The importance of gross margin and breakeven analysis
Why gross margin should be over 50 percent in pest control
How PCO Bookkeepers onboards new clients and what goes into their monthly service
The benefit of tax projections and why you should never have a surprise at tax time
What budgeting should look like for pest firms
The concept of scorecards and how to apply them to a pest business
Why scorecards should be balanced to avoid unintended consequences
Resources mentioned:
Article on gross margin and breakeven analysis: Want to Be More Profitable? Your Gross Margin Needs to Be 50-55%
Article about Anthony's experience attending Harvard Business School’s “Driving Corporate Performance” executive education course: How to Drive Corporate Performance with a Business Strategy and Scorecards
Explanation: Wells Fargo account fraud scandal
Link to register for Beyond Service, where Dan and Donnie will be speaking: co2.coalmarch.com
"Advice: If gross margin is out of whack, I don't care what you do in other areas of the P&L, it's going to be really difficult ... The money is not in saving $500 or $1,000 in office supplies." —Anthony Pepe, PCO Bookkeepers
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