How to get back into the groove after a busy summer

Contractors are scrambling to complete their summer projects, while also strategizing on the best ways to ensure they stay occupied once the busy season comes to a close. Here at Knowify, our team appreciates just how important a productive fall is in ensuring your business success. We’ve built our software specifically with these issues in mind, and have come up with a few tips to make sure your team stays busy (and profitable) in the coming months.

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Growing your business: Using the Knowify sales report as a catalyst

It’s become an accepted truism among economists and high-end business consultants: what you measure is what you get (see HBR Column: You are what you measure). It may sound complicated, but it’s not; the core concept is that your employees will do more of whatever you measure in terms of performance (especially if there are $-related consequences!), and less of whatever you don’t. So – what are you measuring in your business? And are you sure you’re measuring the right thing?

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Webinar: 5 Key Strategies to Increase Profitability

Did you know that there are only 5 things every business owner needs to focus on in order to grow the bottom line? More importantly, do you know what they are? Join us this Wednesday, July 18, at 4pm ET, for a free webinar with Karie Kaufmann, Business Coach, Joanna Knox, Business Development at Fundbox, and Terrin Kalian, Business Success at Knowify, to learn 5 key strategies to increase profitability in your business.


Click here to watch this free webinar now!

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Should I Include Overhead in My Job Cost?

This question (in its many flavors) is one we encounter quite frequently at Knowify. We know from experience that accountants can have pretty strong opinions about this question, but we’re also not afraid to share ours. In short: No, you should not. Here’s why:

Including overhead in job costs only tells you about the past. Focusing on project-based profitability helps you plan for your future.

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What’s your business strategy — revenue or growth?

Writing for QuickBooks Resource Center, April Maguire tackled one of Knowify’s customers’ thorniest business dilemmas: Where to focus. Should you position your business with an eye to revenue or position your business with an eye to growth, and why does that matter?

According to Maguire, starting and growing a new business often means walking a thin line between earning revenue and pursuing growth. After all, she says, “a business can’t be successful if it doesn’t bring in profits, which requires revenue. In the long run, however, growing into new markets is crucial if a company hopes to move beyond the startup stage.”

Where are you?
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Be smart. Be profitable. Build your business now!

Sign up for this free Knowify + QBpro Consulting Webinar Wednesday, June 8th at 7 pm EST / 4 pm PT

You’re very good at building things. Kitchens. Bathrooms. Homes. Apartments. How good are you at building profitability into your business?

Click here to register for this free, deep dive Knowify + QBpro Consulting webinar. Hear key strategies to run your contracting business more efficiently, cost-effectively, and profitably. We’ll discuss and demonstrate best of breed contractor-specific solutions for estimating, planning, managing clients/jobs/teams/materials/change orders, building workflow collaboration, and organizing payroll, bill paying, receivables management and financial reporting to help you meet your profit goals.

Sign up now for this hour long, one-two combo knockout — Knowify + QuickBooks — and master contractor job management.

Knowify. Built for the real world.

How’s your Market doing?

The National Association of Home Builders (NAHB) has released its Multifamily Production Index (MPI) for 2015. The good news is that this study turned in its 16th consecutive reading of 50 or above. The so-so news is that this 0 to 100 measure of builder and developer sentiment about current conditions in the apartment and condominium did decline 4 points to 52 in fourth quarter 2015.

According to the NAHB, this index and all of its components are scaled so that a number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse. Whew!

In releasing the MPI, which provides a composite measure of three key, multifamily housing market elements: construction of low-rent units, market-rate rental units and “for-sale” units, or condominiums, NAHB Chief Economist David Crow said. “Demand for multifamily housing remains strong, which is reflected in the fourth quarter Multifamily Vacancy Index (MVI). And while demand is strong, it’s natural that the MPI would move closer to the break-even point of 50 now that new multifamily housing has largely recovered from the downturn and reached a long-run sustainable rate of production.”

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