Episode 59

Dec. 2, 2021

Topic: Is Your Pest Control Company Financially Fit?

Guest: Anthony Pepe, managing member of PCO Bookkeepers

Click here to listen.

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: How to Build a Culture of Financial Discipline and Transparency in Pest Management

• 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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