Hi Mem,
Thanks for the update. Can I ask for you to put together some important information related to the business so I can fully understand the current business and its performance over the last 3-5 years.
I appreciate this may take some time but is it all possible to provide:
Annual Balance Sheets for last 4 years
A list and detail of the current fixed costs of:
Accounting costs
Salaries
Rent and utilities
Income from different types of business:
Management fees
Project management time
Contractor commission
Parts and material sales (this may be easier to combine with contractor commission)
I also need to know what we have left in the way of tools and equipment both for office and boat staff use. If you can provide a basic list it would be of help.
I hope this is not too difficult to put together? After talking with Greg a little bit I think it is important for him to take more of an interest in where the income is coming from mainly and this will allow him to focus on the areas of business that perform better than others. It is a bit like the difference between income and cost of business = profit type question. We all believe that the most money comes from the management contracts but to do this we need to compare that with the fixed cost of supplying these services. Hourly project management is probably very efficient too but the most important thing is to decide what is best to do well and with enough income to carry on.
I know you have supplied already all the old accounts but if you can resend it will be really appreciated.
Really good to see you and thank you so much for coming to the hospital after sorting all that for me!