In this episode Tom’s guest is Marilyn Sanford, a serial entrepreneur and a CEDIA Fellow. Tom and Marilyn discuss what can be done to maximize billable time and efficiency.
Realizing Opportunity
In my last smartPRENEUR Blog, I spoke to the low contribution to profit of trade labor in construction. Additional Billable Time Now let’s take another tack. Let’s look at what happens if opportunity can be found to add additional billable time. If we find 5%, a mere 1.25 minutes per hour, it equates to 42 additional billed hours per year! ...
Episode 14: Anatomy of An Hour
In this episode Tom’s guest is Marilyn Sanford, a serial entrepreneur and a CEDIA Fellow. Tom and Marilyn break down the anatomy of an hour and give key tips for how you should be charging for one.
The Anatomy of an Hour
The Importance of Numbers Years ago, when I was running my CE (Custom Electronics) business, I had a meeting with a builder in my community. We started to talk about the importance of numbers in our respective firms. The builder was a leader in his Industry having operated successful and meaningful construction businesses. We discussed my somewhat ...
Episode 7: Origins, Expertise, and Labor: How did we get here?
In this episode Tom’s guest is Marilyn Sanford a serial entrepreneur in the custom installation, systems integration and software space as well as a CEIDA Fellow. Tom and Marilyn discuss origins of the industry, the need for expertise, managing labor.
Origins, Expertise, and Labor: How did we get here?
What's the Plan? Over the next series of articles, we are going to explore many aspects of labor management for system integration firms. The topics we’ll cover include cost of labor, efficiencies vs effectiveness, billable, retention and culture, along with other connected subjects. In the industry’s early years, margins on products were the primary focus. They were healthy, especially ...
Opportunities hang out in the wrinkles!
If you don’t track it, you lose it I recently had a meeting with a builder in my community. We started to talk about the importance of numbers and metrics when running a profitable enterprise. He is a leader in his Industry having operated successful and meaningful construction businesses. We discussed my somewhat clumsy and crude business software, …
Achilles Heel
Only 35% of Time Gets Billed Years ago, when I was running my Custom Installation A/V Business, CEDIA published some statistics that shocked me. They had done an indepth member survey and determined that on average only 35% of the time we paid our trades was being billed. I’m a pretty good numbers person, but realized this wasn’t a …
The True Cost of Labor
How Much Are Your Billable Employees Costing? The Situation Experience teaches that customers inevitably value hard assets over labor. Even though we depend heavily on labor to design, manage, fabricate and install systems, the consumer is thinking only of the ‘gear’ they’ve procured and the benefit they anticipate. Often too, consumers push back on post-installation service, believing that for the …
Meet the Faculty: Marilyn Sanford
Marilyn Sanford, CEO, Ideator, Co-Founder LincEdge Marilyn is a Professional Accountant. She spent 23 years running trade based businesses, offering Low Voltage Custom Integration solutions to demanding and discriminating customers for high end residences and businesses. She has served on boards, taught in her Industry and is a Fellow of the Custom Electronic Design and Installation Association (CEDIA). Marilyn Co—founded ...