How much is my HVAC business worth? 

The brutal truth is often nowhere near what you think it should be.

It's like being told that your baby is ugly, but this is something that Patrick Lange of The Business Modification Group has to tell people most days.

Patrick has shared his expert wisdom and in depth knowledge of the current market for buying and selling HVAC businesses across the US.

From a business brokerage point of view, there are three big things that a buyer is looking for in a business that drives the sales price up, and three things that may impact the value of your business in a negative way.

1) Maintenance Agreements

Buyers want to see real relationships with your customers that generate recurring revenue.  They simply pay more for a business that is focused on service.

2) Clean Books

If you have not been banking the cash, using your business account like your personal checking account, and for want of a better expression creatively accounting for taking cash out ...

Two big questions answered here - how do I effectively handle worry?  Plus, what should I be doing right now to prepare for the rest of 2020?

So, this was a session I put together for our clients, but we have received a lot of good feedback about it that we wanted to share it with you too.

We are in tough and uncertain times, so taking decisive action, looking after our own mental health and focussing on innovation in our business can only be a good thing.

I truly hope this helps you.

If videos are not your thing, then we made this into a podcast too that you can listen to here https://podcasts.apple.com/gb/podcast/mastermind-q-a-30-april-2020/id1464905340?i=1000473800122

COVID 19 HVAC Business Continuity 

This is some initial thinking to help HVAC and Plumbing home services companies see it through the uncertainty that COVID 19 has brought to the World.

Right Now 

• Your Line Of Credit -  People are worried, the global economy is closing down, debt is likely to skyrocket, and so banks and lenders are nervous, despite the promise of massive government assistance.

Many contractors have reported that their line of credit has been slashed by half or more.  Contact your supply house, bank, credit card to investigate this for you and your business. For now, you want to keep as much cash in your business as you can, and if you have been living off recurring credit that may about to be slashed, then you need to know about it quickly and make decisions about how much and what to paydown.

• Get Financial Support -  You can go here to find out more about business support loans from your government https://www.sba.gov/funding-programs/disaster-assistance 
...

I want to share a story of a young married couple with a dream to own their own business.

Michelle and Chad started out with only $5,000 to their name whilst Michelle was pregnant with their first child.

They worked hard and their business grew very quickly - much quicker than they had ever dreamed of or thought possible.

But with rapid growth came chaos, friction, stress and loooong working hours.

They had built a million dollar business, but they felt they were losing control of it.  Every day was like a bad dream filled with frustration and worry - call backs, cash flow problems, people issues - Michelle felt that she needed help with everything!!

The stress of working in a chaotic environment was damaging their relationship, and eating into the precious time they could spend with their young family.  They grew sick of it, and felt they had created a nightmare job for themselves!  Michelle was at the point of leaving their business to look for something else to escape the stres...

Most of you will have done work or be planning to do work in the future for General Contractors, right?

 Well, before you go any further, listen to this.

 In today’s episode, Nick will take through the sequence of 6 golden questions to ask any contractor before agreeing to work with them.

 Grab a pen and paper and write this down!!

 It will mean that you give away less of your margin if you do!

What do you need to put your Massive Action Plan into place?

You need to “get” 4 things

Pay attention to Nick and he will tell you what they are - it’s not rocket science

Are you guilty of throwing money at marketing and promotions without any prior planning? Have you spent money on training or software that you’ve never truly benefited from?

Are you constantly on a hamster wheel in your business, but never really achieving your goals?

You could be guilty of Random Acts of Business.

Random Acts of Business can lead to chaos, as they are symptomatic of poor planning and organization.

In today’s episode, let Nick share with you the 3 key things you should be doing in your business to avoid these random acts.

Let Nick show you the method of getting from ‘Right Now’ to your goal in a structured way.

How easy do you find it to achieve your goals?

What is holding you back from achieving your goals?

It’s all too easy to blame the external factors around you for not getting what you want, but really, is that the truth?

In today’s episode, Nick will enlighten you on how your personal beliefs can help or hinder you on the path to success.

Be prepared to think big and challenge yourself!

Keeping your customers engaged on social media with interesting content is a crucial part of your business. Sometimes, you can feel like you're churning out the same old posts again and again.

In today’s episode, Nick shares with you some great ideas to help you create a ‘content calendar’ and make sure that you are a step ahead of your competition with your content creation.

Once upon a time there was a busy HVAC owner called Asif.

Every day, Asif would run around working his ass off, struggling to balance a million different things in his business and his family life, stuck on a hamster wheel and letting all the unfinished things he could never get to fill his mind so that he could not see the woods from the trees.

One day, someone recommended The Foundation Kit to Asif. He took some time out to talk to Nick and find out about how it might help his business, and decided to give it a go.