DAY ONE
3 Goals of JNSS’25
1. You learn from us
2. Learn from each other
3. Have fun!
Need Help?
Need More Help?
EVENT STAFF JENIUS TEAM PRODUCT & EXECS
Why JNSS
We want to help you use JobNimbus fully
We want to hear your feedback & ideas We want you to be the best We want to spend time with you
Our mission
Make contractors heroes
What does it mean to make you a hero?
Achieving business goals
More time with family & friends
Give back to the community
What
does it mean for your property owners?
Communication
Project satisfaction
Reliable, professional, responsive
Contractor perception
2,387
Contracting businesses joined JobNimbus
40,332
New users
3.2 Million
Jobs run
$1.3 Billion Processed through JobNimbus Payments
$38 Million Materials ordered per month
JobNimbus Marketing leads to customers
We Bought SumoQuote
$411 Million
Estimates signed by homeowners
$10.1 Million
Upgrades purchased by Homeowners
Series B investment
More customer support More
product improvements
More onboarding & account managers
New team members joined JobNimbus
We are guided by our values
Team Commitment Customer Obsessed Proactive Learning
Ownership
8,000+ Customer product interviews & feedback sessions
Customer Obsessed
Customer & industry events
Customer Obsessed
Our vision Automate your business
“I can do the work of two people in half the time”
Building a Legacy Business
What’s your end-game? Pass on to my kids
Cash-flow it
Private Equity buys durable businesses with a long-term focus. It’s all about people, process, & reputation”
Purpose People Process
Mission Vision Values
Purpose Principles
“89% of Millennials / Gen Z rank a company’s purpose as a top 3 concern for taking the job”
Gallup 2024
“A company’s vision - its core ideology and ambitious goals are the fundamental driver of enduring greatness.”
Jim Collins (Built to Last)
Building a purposeful organization
Strategy Principles
Values
Vision
Mission
Mission
Why does your company exist?
Simple
Memorable
Inspirational
Never fully done
Filters employee decisions
Mission statement
Examples
Protect and enhance homes & businesses
Build incredible customer relationships with homeowners
Bring contracting into the next generation
Improve our community with quality building & generous giving
contractors
Mission “BY” Vision
Vision
How you will accomplish your mission?
Ambitious
Aspirational
Never fully done
Filters employee decisions
Vision Examples
Protect and enhance homes & businesses
Build incredible customer relationships with homeowners
Bring contracting into the next generation
Improve our community with quality building & generous giving
Values
Who you are
● What attributes got you here?
● What attributes do you need to get where you’re going?
● What’s non-negotiable?
● Filters all hiring/firing
Values assessment
Score every existing team member and every new hire on how well they hold your values
Hiring: Test for values first
● Proactive learning
○ What research had the candidate done before the interview?
○ How many questions are they asking during the interview (ie: curiosity)
● Team commitment
○ When was a time that you were angry about your team not pushing hard enough and what did you do?
○ Tell me about a time when you put the team’s needs ahead of your own
Design interview questions to knock-out candidates that do not have your values
Hiring: Coachability test
1. Run a roleplay with the candidate
a. You can also give them direct feedback
2. Encourage the candidate a. They will be nervous
3. Give feedback on something to change
a. Ask them to adapt to your feedback
4. Re-run the roleplay
a. See how much they are able to use your feedback
If you can get the candidate to change in a few minutes, think what you can do in a few months with them
Principles
How we do work
● What does the customer see when they watch you work?
● How can your team make decisions without the owner present?
● Looking back in 5 years, what in your work would you be the most proud of?
Principles
Examples
● Think like an owner
● Leave it better than you found it
● Safety is everyone’s responsibility
● Anything worth doing, is worth doing well
● What if this was your house?
● What’s our Big Hairy Audacious Goal? (BHAG)
Strategy
Where are we going and what’s the plan?
○ What big achievement are we working towards?
● What’s your 5-year goal?
○ What revenue & profit will we be at in 5 years?
● What’s this year’s goal?
○ What’s revenue & profit for this year?
● What’s this quarter’s goal?
○ What do we need to improve in the business now to get there?
Strategy Examples
● BHAG
○ 1,000 5-star reviews
● 5 year goal
○ Revenue: $30M
● This year’s goal
○ Revenue: $4M
● This quarter’s goals
○ Redo our collections process to get cash moving
○ Implement a weekly training for all staff
People
1:1’s
Scorecard
1. Your title
2. The problem you are here to solve
3. The numbers you own and are accountable for
4. The duties you’re responsible for Manager and employee both score this quarterly
Should happen weekly or bi-weekly
1:1’s
● Make a connection
● Review your numbers
● Follow-up on ToDo’s from previous meeting
● Work the issues list
● Give feedback & encouragement Agenda (30 min meeting)
Career paths
The 3-by-3 system
Ex: Salesman
Always give your team something to work towards
Associate Senior Principal
Gates to reaching next level / role: time in role, proficiency, hitting
Company trips
Holiday parties Family BBQ Service projects
Tournaments
Health challenges
All-hands meetings
Team lunches
Process Accountability
● Map out your processes
● Designate an owner for each step
● Make sure your JobNimbus boards match your processes
Workflow
● Make sure you are communicating with customers at every important step
● Set up automations in JobNimbus to do the communications for you
Communication
Training
● Train your team on the process
● Hold them accountable to following the process
● Make sure everyone knows their job and how to use JobNimbus to do it
Weekly team meetings
● Everyone reports their own numbers
● Gather feedback (what’s working, what’s not)
● Solve the blockers
Accountability
JobNimbus
is the source of truth
● If it isn’t in JobNimbus, it didn’t happen
● No excuses
○ “I forgot”
○
“I don’t want to use JN”
○
○
“I don’t like technology”
“I’m too busy”
Hold a project retrospective
● What were the project results? (profit, customer satisfaction, review rating)
● What went well on the project?
● What could have gone better?
● Update your process to solve future problems
Features you need to use
Estimates
Increase in close rates
Faster time-to-close
38.1 Million
Photos taken in the mobile app
Mobile app
2.6 Million Hours saved using Automations
JobNimbus Payments
Contractors using JobNimbus Payments collect in half the time
“The only way to get a different result is to change what you’re doing”
Rita Mae Brown
● Change & grow
○ Design your business right
○ Fully implement JobNimbus
○ Execute
● Become the hero to
○ Your customer
○ Your family
○ Your community
Build a generational business that creates incredible value
Lessons Learned from the Past
Don’t Jump in the Ocean
Don’t drink too much in the pool
Sanctioned fights only
Watch what you eat
We are here to support you!
All topics are tailored towards business optimization and growth
Network!
~19 Hours of Networking Time
1.75 Hours of Breaks (7 - 15 Minute Breaks)
7.5 Hours of Meal time (breakfast and lunch)
3 Hour Welcome Party
2 Hour Poolside Dinner
2 Hour After Party
2.5 Hour Beach Party
Mainstage Sessions
Key insights and training to take you to the next level
Attend Breakout Sessions
Whenever possible, we are having peer-run breakout sessions. Learn from those that are in it, every day.
JENIUS BAR!
This is your time to implement change
Account Management
Dedicated Account Managers
Jenius Account Managers
Create Action Plans
What outcomes are you trying to achieve
Play Partner Passport and win
THANKS TO OUR TITLE SPONSOR
Break
Our approach to product
begins and ends with you
We are focused on outcomes
JobNimbus Product outcome examples
Contractors sell more deals at a higher value
Make contracting businesses more profitable
Create 5-star homeowner experiences through better communication
Help owners scale the processes that have worked for a decade(s)
Product Roadmap Sneak Peek
Estimating Enhancements
Leverage pre-built calculations
● Easy, fast setup
● Reduce manual input
● Best practices at your fingertips
Create custom calculations
● Guided calculations creation
● Leverage predefined tokens or create your own
● Link to your existing products & services
Create custom calculations
● Guided calculations creation
● Leverage predefined tokens or create your own
● Link to your existing products & services
Save time with simple calculations management
● Manage & edit calcs in one place
● Apply one calculation to many like-products
Estimate Preview
● Ensure quality
● See exactly what your customer will see
● Web, mobile & full PDF
Estimate Preview
● Ensure quality
● See exactly what your customer will see
● Web, mobile & full PDF
“Price Per Square” Estimates
● Flexibility in pricing framework
● Quickly spot check profitability
● Ability to start with estimate total (insurance)
● Ability to extend into linear feet for fencing
One-page estimate
● Estimate fast!
● Basic estimates for repairs or additional trade work
● Maintain professionalism
Estimate from your iPad
● Build estimates in the field
● Maintain a consistent sales experience
● Accurate estimates on the go
Profit Tracker
Job costing reimagined
● Compare actual vs. forecasted revenue & spending
● Transparency throughout the lifespan of the job
Align commissions & your business goals
● Multiple or single payouts
● Revenue or profit-based
● Reporting made easy
Easily link important documents
● Eliminate manual & redundant data entry
● Documents include:
Estimates
Material Orders
Work Orders
Manage expenses in one place
● Document & track accounts payable
● Log paid expenses on the fly
● Sync directly from QuickBooks
Photos
New photo view
● Custom description
● Fast fill descriptions
● Tag photos
Subcontractor Experience
Tailored App Experience
Stay organized
Better communication
Built in accountability
Just the right amount of access
● View:
○ Photos
○ Forms
○ Assigned tasks
○ Work orders
○ Shared documents
● Restricted:
○ Financials
○ Other sensitive information
Lock & Home Screen Widgets
● Quickly access core features
● Never miss an appointment again
Customer Financing
Wisetack
Offer payment flexibility
● Provide multiple payment options
● Make projects affordable to close more deals
● Wisetack assumes the risk once approved
Job Page
Important job insights at a glance
● Data at your fingertips
● Quick actions
● Anticipates your next move
Improved Layout
Job Quickview
● Status updates
● Task management
● Contact info
● Maintain current context
Help shape the future of JobNimbus
Connect with a Product Manager!
The New Sales Experience
Ryan Quackenbush
Homeowners have changed
75% 93% 60% of consumers expect businesses to respond to inquiries within 24 hours, and 50% expect a response in under an hour. of consumers read online reviews before making a decision about hiring a contractor.
72% of consumers trust online reviews as much as personal recommendations. of home service-related searches, including finding contractors, are done via mobile devices.
Have we?
Contracts from 1776
Scrambling to pick up checks…
But, I do it for the personal touch…
Swing by anyways, but don’t make me find a bank and fill out a check.
I DON’T KNOW HOW
Sales Experience
Digital payment collection
But…
I don’t have time
I already tried it It’s too complex
I like my way of doing it
It’s actually very simple
41.1%
Close rate: vs. 32.1% for companies using only legacy estimates 28%
+$560,000
28% increase on a $2M contracting company
8.2 hrs
Time from sent to signed: vs. 39.1 hrs for legacy estimates 80%
Even AI knows it
Ok fine… so what do I do?
1. Software principles to consider
2. Getting started
3. Becoming a power user
Leave JNSS with a simple estimate format that you can implement
Software principles
Iteration
Think big, start small
Example
How to “Launch”
Build it Make changes based on feedback Tweak it
Basics first!
Try it
Start with one sales rep
Getting started
Key terms: Layouts & templates
Modularity
Layout vs. template
Layout = the base model
Template = build options / variations
Layout vs. template
Layout = the base model
Layout vs. template
Template = build options / variations
Keys steps
1. Set up default layout
2. Add photos
3.Add estimate details (Consider using templates)
4. Set signing & upgrades
Create your default layout
Estimate Settings
Layouts
Only the pages I need
Excluded pages
Add photos
Of first impressions are design related British Journal of Psychology
Add
estimate details
ProTip
ProTip
ProTip
Estimate Best Practices
High profitability, revenue companies offer Good, Better, Best
Upgrades
$3,103
Average increase in job size: Companies using upgrades in SumoQuote, 2023 +21%
Signing
Of online shopping happens on a mobile device
Source: gauss.hr e-commerce statistics report
8.2 hrs
Time from sent to signed: vs. 39.1 hrs for legacy estimates 80%
Deposits
Add a deposit to drive cash collection
Do it all on the mobile app
6 min
Time from create to send on mobile: Vs. 19 min on web
Becoming a power user
Standardized repeatable process ● Eliminate the human error
Quickly generated estimates
Improved homeowner experiences
How would your business change if every salesperson was your best?
Sales Experience
Sales Experience
Sales Experience
Sales Experience
Sales Experience
Sales Experience
Quick Accurate estimate
Measurements
Using calculations
1. Set up tokens
2. Set up calculations
3. Order measurements
4. Create estimate
Measurement Tokens - Placeholder for the measurement
Measurement Tokens
Add your tokens - the measurements to be taken
P&S - Adding Calculations
1. Go to P&S > Manage Calculations
1.2. Add formula using tokens
Add measurements to the job Measurements
Measurements
Takeaways
Think big, start small!
Make it beautiful Offer options & upgrades
Then, become a power user
+$560,000
28% increase on a $2M contracting company
How do I start?
Iteration
Think big, start small
How do I get the team on board?
Think BIG, start small
How do I get the team on board?
Find your champion Do you want to sell 28% more?
Basics first! Build it Make changes based on feedback Tweak it
Start with one sales rep Try it
You’re not alone
New Sales Experience - Roofing
● Today 3:00-3:45 Moonlight Club
New Sales Experience - Non-Roofing Trades
● Wednesday 3:00-3:45 Moonlight Club Jenius Time!
You’ve got this!
Sessions
1 pm Lead Gen, Insurance Roofing, Workflows
2 pm Culture/Hiring, Peak Performance, Advanced Workflows
3 pm Digital Marketing, Diversifying Your Business, NSE Setup-roofing
It’s A Pool Kevin!
Poolside Dinner: Touristy T-Shirt Theme &
Afterparty
Eden Pool, 6-8pm Club Hours, 9-11 pm
Afternoon Sessions
THANKS
TO OUR PLATINUM SPONSORS
Lunch by The Pool
out
DAY TWO
DIGITIZINGYOUR BUSINESS
OPTIMIZING YOUR BUSINESS IN A DIGITAL AGE
“THE COPYROOM”
Where the success of your business was made manifest by the size of your printer
The Basement
Asummers worth of “digitizing” = 30k+ staples
INTRODUCTION
GREW UP IN CONSTRUCTION
EDUCATION IN BUSINESS STRATEGY
I’VE BEEN “DIGITIZING” BUSINESSES FROM A YOUNG AGE
OLYMPUS ROOFING
• STARTED IN 1973
• PURCHASED IN AUG OF 2022
• STILL PEN AND PAPER AS OF AUG 2022
PEN&PAPER
• PAPER ESTIMATES
• PAPER ORDER FORMS
• TYPED OUT AND EMAILED ORDERS
• PAPER “SUBMITTAL PACKETS”
• SOME ESTIMATORS WERE USING OLD DIGITAL CAMERAS TO SNAP PHOTOS AND PRINT THEM OFF
• HAND MEASUREMENTS OF ROOFS
• STICKY NOTES EVERYWHERE
• MANUALLY INPUT INVOICES INTO QB
• LEAD INFO WAS WRITTEN ON A STICKY NOTE AND PUT ON THE CALENDAR IN THE OFFICE.
• ALL JOB DOCUMENTS WERE COLLECTED AND COMPILED INTO A MANILLA FOLDER AND FILED AWAY. SOMETIMES SCANNED INTO GOOGLE DRIVE AND SAVED.
The Olympus Process Pre-Digitization
ACHANGING DEMAND
WHERE WILLOUR CUSTOMERS TAKE
US?
GENERAL GROWTH OF DIGITAL TRANSFORMATION IN CONSTRUCTION:
IDC ESTIMATES THAT GLOBAL SPENDING ON DIGITAL TRANSFORMATION WILL REACH $3.4 TRILLION BY 2026, DRIVEN BY COMPANIES LOOKING FOR WAYS TO BECOME MORE EFFICIENT AND CUSTOMER-FOCUSED.
MCKINSEY & COMPANY REPORTS THAT DIGITIZATION COULD
INCREASE PRODUCTIVITY IN CONSTRUCTION (WHICH INCLUDES ROOFING) BY 14-15% AND REDUCE COSTS BY UP TO 5-7%.
95% OF CONSTRUCTION COMPANIES (INCLUDING ROOFING FIRMS) HAVE AGREED THAT DIGITAL TRANSFORMATION IS ESSENTIAL FOR THEIR FUTURE COMPETITIVENESS, ACCORDING TO A KPMG SURVEY.
Spendingondigitaltransformationtechnologiesandservices worldwidefrom2017to2027(intrillionU.S.dollars)
What is driving the increase in spending?
DIGITIZATIONOFCUSTOMER INTERACTIONS
• A 2023 survey by Accenture found that 75% of consumers expect service providers to offer online booking and digital payment options. Roofing companies lagging in digitizing customer touchpoints maybemissingoutonbusiness.
• Roofing companies utilizing online customer portals have seen customer satisfaction scores improve by up to 20%, because it allows clients to easily track project progress, payments, and communication.
• Companies with the strongest omnichannel experiences retain 89% of their customers on average, comparedto33%retentionforcompanieswithweakomnichannelcustomerexperience.
WHATDOCUSTOMERS WANT?
• Access to Information
⚬ Availability of information (and ease of research) leads to a more informed buyer
• Tech Enabled (digital proposals, omnichannel communication, electronic payments, etc)
⚬ Feels sophisticated, easy, very little friction in the purchase process
• A custom tailored buying process
⚬ Feels more valuable when it feels completely unique to them
• Options, but not too many
⚬ They want to choose! But too many options can lead to analysis paralysis
• Excellent Communication
⚬ #1 complaint among contractors. But don’t be pushy.
• Social Proof
⚬ See/Feel what your business is like. Google Reviews, Social Media, Pictures, Video, etc.
ALOOK UNDER THE HOOD
WHAT DIGITIZATION HAS LOOKED LIKE FOR US
IN TRYING TO MEET THE DEMAND
WHATWE’VEDIGITIZED
• LEAD INTAKE
• Automated communication
• Scheduling leads
• Pictures
• Drone pictures/documentation
• Measurement reports (automatically sent to supplier for reimbursement)
• Materials ordering
• Job submittals
• Work order creation/job scheduling (automations)
• Documents stored for life
• Payments (ACH, Cards, etc)
• Reporting and tracking
• Team notes and job communication
• Commissions tracking for sales team
How likely is it that you’d get accurate hand measurements from a sales rep on a roof like this?
If so, how long would it take them?
Set up an automation to get reimbursed from Suppliers for cost of measurement reports
Allofthesetexts& emailsareautomated
25+customertouchpointsthatwe don’thavetoliftafingerfor.
CHALLENGES OF DIGITIZATION
LEAVING OLD HABITS BEHIND
CreatingBuy-in
• Difference between invention and innovation is adoption.
WHAT’S IN IT FOR THEM?
• How will this make their life easier, better, etc. PAINT
THE PICTURE!
• Apply the same sales techniques you use with customers. Sell them on the value.
REMOVE THE FEAR OF LEARNING
• Replace the fear of learning with excitement. Provide resources to learn and gain confidence quickly. (JN Library)
Going“All-In”
“We
tried Jobnimbus and it just never really caught on”
USING AS INTENDED?
TEAM IMPLEMENTATION EFFORTS
Do you understand how to use all the features, and are you using them correctly? If not, you’ll miss out on the benefit of features working together properly. (Paper estimate example) Is everyone committed? If one person (or department) isn’t adapting, it will hold everyone else back. Some people may not be the right fit. “IT NEVER REALLY CAUGHT ON”
OURBIGGESTLEARNINGS(BENEFITS)
• MARKETING TRACKING & ROI
• ORDERING AND ESTIMATING ACCURACY.
KNOWING OUR NUMBERS
• SOLVE PROBLEMS FASTER WITH ACCESS TO INFORMATION
• SALES, PIPELINE, PRODUCTION, AR, GP, NP, ETC.
• BUILD A DATABASE OUR NUMBERS OUR RECORDS OUR EFFICIENCY
• DO MORE WITH LESS: 3X REVENUE GROWTH WITH ONLY A 50% INCREASE IN STAFF
• BETTER RESOURCE FOR CUSTOMERS
• BETTER WORK/LIFE BALANCE
• PROTECT OUR COMPANY
• ADAPT OUR SYSTEMS/PROCESSES FASTER
HOWDOESTHISINFLUENCEOUR CUSTOMERS?
262%INCREASEINCUSTOMERREVIEWSINTHELAST2YEARS
TrackingMarketing
TrackingSales
IN SUMMARY
• Supercharge your customer experience
• Supercharge your employees
• Supercharge your quality of life
Where do we go when we want something, but don’t want to pay top dollar for it? Autotrader
Local Classifieds
Engine: 4.0L inline 6 cylinder (naturally aspirated) 1
Drivetrain: 4WD 3 0-60: 8.8 seconds Top speed: 102 mph 4 Every 16 year olds dream
No, honey, those are not emoji’s
What happens when we cant see whats going on?
Now imagine your truck has a fully functioning dashboard
We don’t want you Driving Blind
Too Busy to Run Your Business?
● Do you really KNOW your numbers?
● How many times per week are you having to be reactive instead of proactive?
● How many hours per week do you work on your business?
● Do you run your business or does your business run you?
Insights is your dashboard
This is the tool to help keep you from driving blind
What gauges do I have?
Sales
Workflow/Process
Accounts Receivable 5. Completed Jobs 6. ???
Business Overview
Business Overview
Top 5 Lead Sources this Year
Top 5 Sales Reps this Year Lead Flow
Hamburger Stack Filters
Filters
Nicks Tip:
Review your workflows
Nicks Tip:
Understand Sold job
Sales Insights
Report Tabs
Dots
1. Leads/Close Rate 2. Estimate Conversion 3. Sales 4. Sales Pipeline 5. DATA!!!!
Where should I spend my marketing money?
Speed to lead
1. Leads/Close Rate
2. Estimate Conversion 3. Sales
4. Sales Pipeline
5. DATA!!!!
Sales - Drive accountability and competition
But wait…
My reports don’t look like that
Get to the Jenius Bar!
Sales - Drive accountability and competition
How do you hold sales accountable?
1. Leads/Close Rate
2. Estimate Conversion
3. Sales
4. Sales Pipeline
5. DATA!!!!
I’ve never noticed that 5th tab
Nicks Tip!
Utilize JobNimbus Estimates
Workflow
Understand throughput times
A job is marked “sold” when it reaches any of these statuses
How do you hold production accountable?
Homework!
Make sure your workflows are set up properly for reporting.
Nicks Tip!
BOLO for Black Holes
Accounts Receivable
Question: Who owes me money?
Timeline & Communication Strategy
"Hi Customer, I’m calling because your invoice #12345 is 90+ days overdue. We need immediate resolution.
How do you plan to resolve this today?"
We have waited over 90 days. This is your final opportunity before collections. I need payment today."
"I want to avoid escalation, but we are prepared to take further action. Are you sure you want to go down this path?"
Don’t be afraid of AI Nicks Tip!
Nicks Tip!
After Action Reviews
Let’s review our Insights Dashboards
1. Business Overview 2. Sales
3. Workflow/Process
4. A/R
5. Completed Jobs
6. ???
A few things you should know Bonus Nicks Tips!
1. Name it
2. Select pages or charts
Frequency
Who gets it
Subject Line *** Included Message
Nicks Tip:
Filter - Filter - Filter
Everyone has a number Nicks Tip!
Forecasting vs Actual Numbers
Sold job: When a job reaches any status in the SOLD stage
Workflows aren’t set up
properly
Not using estimates and/or invoices
Set up statuses that match your process
Estimates are the key to Sales data
Invoices are the key to A/R and Completed
Key Takeaways
1. Insights is your dashboard
2. Its used to Collect / track data
3. Make data available
4. Learn / teach the tools
5. Use data for making decisions
6. Hold people accountable
7. Insights is the fastest, easiest, most comprehensive source!
THANKS TO OUR GOLD SPONSORS
Break
LLM= I know how to speak better than you
What do you get out of AI
● Save time!!!
● Brainstorming consultant
● Building a brand and voice
● Marketing and SEO
● Building and refining your processes
● Content creation and communication
● Analyzing your business, website, workflow, etc.
● Hiring and teambuilding
● Summarizing large data sets
AI Pieces
● Create Custom GPT
● Magnolia Summary and create about is
○ Add Fencing Puns
○ ALL OF THE PUNS
● Defining our culture
○ What are the top values for contractors (in Dallas)
○ What is the best way to convey trust through my website
○ Help me create core values for my company
■ Slim to 3
■ Create a weeks worth of dad jokes about fencing
● Content Creation
○ Automate your communication
■ Welcome email, shorter
■ Welcome text
○ Appointment reminder text and email
● Analyze
○ SO, Marketing, quality of olympusroofing.com
○ Create and SEO and keyword report
○ What social media channels would be best for marketing
● Hiring
○ Job description - fencing sales manager
○ Hiring scorecard
○ Training plan
○ Coaching
$3.5M Australian Dollars
Or approximately $42M USD today
Australian Dollars
$857.6M USD
1,400% over budget
10 years behind schedule
If this happened to one of you..
You might be out of business!
No one is immune from the risks of overruns
52% of businesses experience delays
79% of businesses have cost overruns
Profitability is KEY to your business
Keeps you in business Enables growth Makes
you a hero
How JobNimbus Helps
Do you know your profit margin?
Do you know what goes into your profit margin?
Revenu e Costs Profit !
So YOU can be a hero
Revenu e Costs Profit !
Chasing after invoices…
Driving around collecting checks…
Reconciling your books…
Ensuring you got paid what you’re owed…
Getting cash into your bank account….
● Integrate your deposits collection process
● Get paid the next day
● Build professional digital invoices
● Automate collections via text message
Revenu e Costs Profit !
JobNimbus Estimates
Ordering Profit Tracker
JobNimbus Estimates Material Ordering Profit Tracker
Tell me if any of these sound familiar…
PainI need to easily know exactly what to pay my sales reps
I don’t have clear visibility into why a job had a cost overrun
I have to use too many systems to understand my business performance
My data is only available in QuickBooks
More pain
I want my salespeople to have trust that I’m paying them accurately
I find out too late whether a job is going to be profitable
I can’t easily understand how effective my estimating is because I can’t see differences between my budget and what I actually spent
I need to understand trends in costs and profitability.
How does Profit Tracker help?
1. Serves as a planning AND tracking tool
2. Understand your costs at any point and be a source of truth
3. Compare your plan vs your actuals in real time
4. Generate robust reporting
5. Connect with the systems that matter
Estimates Material Orders
JobNimbus Payments
Receipts and Invoices
Quickbooks Bills
Work Orders
Unplanned purchases
Profit Tracker is like the Blueprint…
…and the Underlayment
10%
Higher profitability with Profit Tracker
Demo
Automatically sort by cost type
Track unplanned costs
Coming VERY SOON….
Bills in Profit Tracker!
Create bills from vendors and labor!
Upload receipts (optional)
Enter bill details
Apply bills to Profit Tracker items
View receipts and status on the profit tracker
Edit and delete bills
Modify any details on the bill
Actual Revenue time!
Many ways to collect payments
1. Deposits through the New Sales Experience!
2. Collecting payments manually through the mobile app or web
3. Automated Invoices
4. Payment requests
5. Logging payments manually
Payments are automatically imported
Commissions
Change Orders
Reporting
Profit
Tracker holds the key to tracking individual jobs
Insights
Reporting will help you understand trends and the ‘big picture’
Understanding the big picture helps you make better decisions
Questions you can answer
1. Understand your profitability at any time
2. Perform a trend analysis on your profitability, costs, and revenue
3. How do results compare to our plans?
4. Compare across locations, salespeople, size of the job, and many more
5. Accurately pay commissions
6. Do I have the right commissions structure?
Profit Margin Trended
Final tips
Best Practices
1. Add all your costs…EVERYTHING
2. Don’t assume profitability from the plan
3. Look at the reporting regularly and identify opportunities and gaps
4. Reconcile your payables and receivables
More Coming Soon..
Overhead Tracking
Gross vs. Net
Dashboard
Quickbooks Bills
The Vision
Wouldn’t it be great automatically know…
…Where your profitability is really coming from?
Estimates Material Orders
JobNimbus Payments
Receipts and Invoices
Quickbooks Bills
Work Orders
Unplanned purchases
Transfer Info
Will be emailed soon & can be found tomorrow by main map & agenda
Beach Party
6:00 PM
THANKS TO OUR SILVER SPONSORS
Lunch
out
DAY THREE
ZERO
Marketing is Bullshit
Gotten Burned
So why is that?
Black Box
Time & Budget Constraints
Word of Mouth is King
Vanity Metrics
By the end of this presentation, you’ll know what marketing should be, find the right marketing partner, and track the metrics that matter.
Marketing is about getting the people that need you to find you.
Who Needs You? …and Why?
Spoiler: This is Your Brand
● Who are they?
○ Young Families, Retired
● What problem are they dealing with?
○ Storm damage, insurance
● How do you solve it?
○ Fast turn-around, communication
● What do you want your customer to remember about you?
○ Integrity, easy to work with
Foundation Checklist
Key Metrics
● Number of Leads Generated
○ Are you getting enough leads?
● CPL (Cost-per-Lead)
○ How much does it cost you?
● Close Rate
○ Are they actually bringing in revenue?
What’s the most impactful think I can do right now?
I want leads fast!
Speed = $$$
Key Questions
● What’s the volume?
● What does success look like?
○ Hand Raises, not CPC
● What channels do you focus on?
○ Google Ads & Facebook Ads
I want to show up first!
Key Questions
● What’s the volume?
○ Keyword Difficulty
● What does success look like?
○ Traffic, Engagement
● What channels do you focus on?
○ Google Organic
How do I find the right marketing partner?
Checklist
❏ Industry Knowledge
❏ They know how to talk to my target audience
❏ They’ve done local campaigns
❏ They know how to get leads
❏ They can create good content
❏ They know how to run paid ads
❏ They know how to do SEO
❏ They know how to get local results
❏ They know how to show ROI
❏ They’re staying up to date with marketing
Watch Out For
Someone who just says yes
Smooth talkers (check references)
Marketing is about getting the people that need you to find you.
Thank you to our event staff!
Break
Johny Wudel
CEO, Olympus Venture Group
Executive in Residence, Mainsail Partners
Adjunct Professor, Brigham Young University
Former COO of JobNimbus Outdoorsman
Father of 4 (plus a dog)
~20% of companies in the US are owned by private equity
AllstarServicesacquiresBordner HomeImprovement
July2024 Gemspring Capital Acquires Fenceworks
Nov 2023
Rogers Roofing Sells to Portfolio Firm Vertex Service Partners
Aug 2023 Infinity Home Services Expands Through Acquisitions May 2024
Highly fragmented Non-discretionary spending
Why home services? Opportunity for optimization
Large population of baby boomer owners
Should I sell my business?
Should I sell?
What are PE rollups?
What does PE look for in acquisitions?
How much do they pay? What do deals look like?
What is life like post acquisition?
PRIVATEEQUITYEDITION
Everyone is selling to private equity
PE Ownership by Industry
PRIVATEEQUITYEDITION
Everyone is selling to private equity [BUSTED ]
What are PE roll-ups?
privateequity noun
Raisemoneyfrominvestorstobuyandimprovecompanies.The goalistosellthecompanyataprofit,typicallywithin5–7years.
X o PE Playbook
Efficiency gains
Pricing power
Buying power
Valuation arbitrage
sponsor: PE investor brands: individual companies platform: roll-up entity
Types of PE firms
PRIVATEEQUITYEDITION
PE firms are money vampires and don’t care about building a long-term business
Rip and flip
● Value is in the aggregation
● Short-term focus
● Full flip in 4-5 years
Platform Play
● Platform brand with centralized services and culture
● Regional focus
● May consolidate brand names
● Two flavors: long hold or swap investors 4-5 years
World domination
● A version of the Platform Play
● Building for massive scale
● Keep individual brands
● Speed to acquire is critical
● Will swap investors every 4-5 years
Mission: “Saving our communities from unscrupulous contractors”
Values:
Servant leadership
Growth mindset
Unwavering character
Persistence
Empowerment
Fun
[BUSTED ] PRIVATEEQUITYEDITION
PE firms are money vampires and don’t care about building a long-term business
What does PE look for?
What are buyers looking for in companies they buy?
Revenue - Cost of Goods Sold = Gross Margin
- Operating Expenses (including owner salary as an expense) = EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)
The value of your business is based on a multiple of EBITDA
$1.2M EBITDA x 4 = $4.8M purchase price
Seller Discretionary Earnings (SDE)
Removes owner salary from operating expenses to increase earnings
Financial Health
⇧Increases multiple
● Strong gross margins
● Strong EBITDA (10-20% or higher)
● Low debt levels
● Consistent cash flow
⇩Decreases multiple
● Lack of data availability or inaccurate data
● Loose accounting principles (cash basis accounting)
⇧Increases multiple
● Predictable sales and marketing engine
● Strong revenue forecast
● Low customer acquisition costs (CAC)
● Reoccurring revenue
● Proven market expansion
Growth
Decreases multiple
● Lumpy sales that aren’t repeatable
● High customer concentration
The Team
⇧Increases multiple
● Experienced leaders and employees
● Strategic vision for the future
● Ability to adapt to change
⇩Decreases multiple ● Business is dependent on the owner*
● High employee turnover
● Subs that aren’t licensed or insured 1099s that should be W2s
*THE OWNER TEST
What happens if you go to Cabo for 2 weeks during busy season and turn off your phone?
Scalability
Increases multiple
● Utilizes modern technology
● Efficient process and operations
● Automation
Decreases multiple
● Lack of systems
● No CRM or poorly adopted CRM
Market Position
⇧Increases multiple
● Serving a large market
● High market share
● Diversification of market (multiple locations)
⇩Decreases multiple ● High customer concentration
● Overly competitive geographic market
Reputation
Increases multiple
● 5 star reviews & LOTS of them
● Strong brand reputation
● Quality of service
⇩Decreases multiple
● Past or current complaints or litigation
What do deals look like?
How much can I make?
Deal Process and Structure
Non-Disclosure Agreement (NDA)
Courting process
6 months - 2 years Letter of Intent (LOI)
Final Negotiation
Due Diligence 90-120 days Purchase Agreement & Funding Preliminary Due Diligence & Valuation
STRUCTURE CONSIDERATIONS:
•Cash/Earn Out/Equity rollover
•Asset sale vs Stock sale
Due Diligence List
Financials (last 3 years)
Employment verification
Review processes and technology
Assets and liabilities I9s Data access
Profit & loss statements Signed employee contracts LOTS of redundant questions
Tax filings Comp and bonus plans
100+ documents uploaded to file share
“Using the whole fist doc?” -Fletch
Advice from the fox hole
“A” team of experts
Need to know basis
Run your business
Pushback on timelines
How much $$$ can I make?
Deals done from 2020-2024
Company Stats Deal Stats ● 48 companies ● > $1.5M in revenue
$8.2M revenue
$1.5M SDE
48% gross margin
15% EBITDA
$6.5M purchase price
4x multiple (range: 1.8x - 8.8x)
<$1M EBITDA – 2.5 to 3.5x
$1-10M EBITDA – 4 to 6.5x
How much $$$ can I make?
EBITDA Multiple Purchase Price
$500,000 2.5x
$1,000,000 3.5x
$2,000,000 4x
$1,250,000
$3,500,000
$8,000,000
$3,000,000 5x $15,000,000
CASE STUDY
CASE STUDY: Smith Roofing
The background
● Steve Smith has roofed for 35 years & started his own company in 2018
● Commercial roofing company
● “Hero” owner, no technology, not scalable
● $5.5M in revenue, $1.3M EBITDA
Steve’s why
● Ready to retire but no one to take it over
● He’s in his late-60s and his knees are going out
● His wife wants him full time for her “to do” list
THE DEAL Asset Purchase
$3.5M purchase price (2.7x EBITDA) $1.4M seller note (5 years) $2.1M cash in hand
Smith ROOFING
What is life like after being acquired?
PRIVATEEQUITYEDITION
I
can sell my company and be on the beach the next week sipping
Owner Transition
Platform A
Owner leaves and they hire a GM
On average, owners stay for 1-2 years
Platform B Owner stays for 3-5 years and keeps a large amount of equity
PRIVATEEQUITYEDITION
I can sell my company and be on the beach the next week sipping
[BUSTED ]
Nothing will change PRIVATEEQUITYEDITION
“You will be told nothing will change, but of course changes will happen.”
Former owner
Most Common Areas of Change
● Processes (sales, data/reporting)
● Accounting systems and technology
● Debt
● Transfer of risk
● Accountability
“If a company is operating really well, we’ll stay out of their kitchen”
CEO of rollup platform
Nothing will change
PRIVATEEQUITYEDITION [BUSTED ]
PRIVATEEQUITYEDITION
They will fire all my employees
“We are buying people, not technology. We don’t want them to walk out day two.” CEO of rollup platform
How acquisitions affect your team:
● BAD: May centralize some roles and let people go
● GOOD: Able to hire the right people for the right roles
● GOOD OR BAD: Impact on culture – pick the right partner
“Since our acquisition 5 people have moved up to management positions. Two went to the PE platform.”
Former owner
PRIVATEEQUITYEDITION
They will fire all my employees
[BUSTED ]
Should I sell my business?
To sell or not to sell?
Yes
● Want to be part of a bigger vision and make even more impact
● You embrace change
● You are data driven
● You want to retire and need an exit plan
No
● You want to be legacy owner for the next 10+ years
● You want full control and no one telling you what to do
● You want to sell, still run the company, but be on vacation
Do you want to sell? now, near, future
Why or why not?
What’s your “number”?
Write it down.
Build a company that someone wants to buy
Thank you
Partner Passport Winner
out
2024 Recap