RCSI - Cost of Doing Business
Giving Customers a Little ‘Extra Time’ to Pay Will Lead to Cashflow Issues
RCS Influencer Thea Dudley says that not having a good understanding of your collections and accounts receivable could end up being your biggest cost of doing business. Not always noticeable until it is too late, the biggest cost or impact to businesses that I have encountered this year is roofing contractors ...
Insurance Expenses Were One of the Largest Costs of Doing Business for this Contractor
RCS Influencer Wendy Marvin says that it’s hard to pick just one large cost of doing business, but liability insurance has been her pain point this year. Being given the RCS Influencer questions to answer each month – and laughing when they ask us for just “one” of anything – is ...
Understanding Cost of Business Means Asking Questions
RCS Influencer Marty Stout says that when approaching the topic of identifying what your biggest cost of doing business is, you must take a multifaceted approach. When I was asked what the biggest cost of business over the last twelve months is, I had to really stop and think because it ...
Invest in Your People and Your Business will Thrive
RCS Influencer Charles Antis says that people should be your biggest cost of doing business. When thinking about the biggest cost of doing business last year, I can tell you a couple of things, but before I start, I'm going to tell you that I believe if you're going to be ...
Recruitment Costs are a Large Cost of Doing Business
RCS Influencer Trent Cotney says that much like the construction industry, one of the biggest costs of doing business at his firm in the last twelve months is recruiting high-level talent. Having the right employees on your team can be one of the quickest ways to grow your business and scale ...
Missed Opportunities Can Result in a Big Cost to Your Business
RCS Influencer Ken Kelly says that their biggest cost of doing business last year were the chances that his company didn’t take. Our biggest cost in the last 12 months was the opportunity cost. Opportunity cost is the chances we didn't take. In our situation it was not hiring ...
Biggest Cost of Doing Business? Transportation.
RCS Influencer Jennifer Stone says that contractors should be aware of the challenges so they can set expectations and make sure their materials get delivered when needed. As I reviewed this month’s topic: “What was the biggest cost of doing business in the last 12 months?” I knew the ...
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