So you've started down your LMN path and it's time to focus a little more heavily on Budgeting. Below you'll find a series of videos and associated downloads that will help you truly take advantage of all that LMN has to offer.
No more wasting time, paper and money, budgeting the old way.
Let's start budgeting!
Preparing Your Budget
Step 1: Intro to Budgeting
Step 2: Start Your Budget
This video steps you through the process of creating your first budget with LMN’s budgeting and estimating software. You’ll see how to get to the budgeting screen, get an overview of how the screen works, and get some quick tips and tricks on how to get started when building your company’s operating budget.
Building Your Budget
Step 1: Building a Sales Budget
This video walks you through the process of building a landscape operating for your landscaping company. It gives you an overview of what you need to prepare, how to build your sales plan, and how to enter it into LMN’s budgeting software.
Step 2: Field Labor Budget
This video is a detailed breakdown of how to create your labor budget – a very critical budget in your landscape operating budget. It gives you a comprehensive overview of how to build a field labor budget for your company to better manage labor costs and productivity.
Step 3: Using a Labor Budget
This video is a detailed breakdown of how to actually use your labor budget to improve operations, productivity and profit. For any landscape contractor, nothing is more critical to achieving high profits than managing your field staff. This video will explain how your labor budget gives you numbers that can help you set profitable goals, regularly measure results and implement rewards to get employees thinking like owners instead of hourly workers.
Step 4: Equipment Budget
This video is a detailed breakdown of how to create your equipment budget. It teaches you how to plan to recover equipment costs – both for vehicles and equipment that you own and those that you lease to ensure that the cost of operating, repairing and replacing your fleet is paid for by your customers, and not coming out of your profits.
Step 5: Material Budget
This video is a detailed breakdown of how to create your company’s material budget. Your materials budget will help you plan and manage your company’s material costs.
Step 6: Subcontracting Budget
This video is a detailed breakdown of how to create your company’s subcontracting budget. Your subs budget will help you plan and manage your company’s subcontractor costs.
Step 7: Overhead Budget
This video is a detailed breakdown of how to create your overhead budget. Every business owner needs an overhead budget in order to price work for profit. Without an overhead budget, its impossible to ensure that your prices are enough to cover your costs, your overhead, and your profit. With an overhead budget, landscape contractors can price their work based on a plan for profit, which takes away the stress and worry of hoping for a profit.
Reviewing Your Budget
Step 1: P&L Statement
This video walks you through the process of reviewing your profit and loss statement. Your forecast profit and loss statement is a summary of all the information that you’ve entered in your operating budget so far. It will show you whether the plan you’ve created is profitable or not.
We’ve also included several tips on what to look for if you’re not profitable – how to check for some common double-entries, and ways to realistically improve your business’ profitability.
- Video: The Secret of Great Landscaping Businesses - WATCH VIDEO
Step 2: Overhead Recovery
This video shows you how the system takes the numbers from your budget and calculates an overhead recovery and pricing system built specifically for your company, based on your numbers and goals. In this video, we cover the single overhead recovery system (SORS), the Field Labor Hour overhead recovery system (FLH) and the Multiple Overhead Recovery System (MORS).
- Overhead Recovery Examples - DOWNLOAD
Analyzing Your Budget
Step 1: Analyzing Your Budget