Landscape and Irrigation is read by decision makers throughout the landscape and irrigation markets — including contractors, landscape architects, professional grounds managers, and irrigation and water mgmt companies and reaches the entire spetrum.
Issue link: https://read.dmtmag.com/i/108761
Business Management Planning With Purpose Understanding what it takes to put a solid financial plan together we're asking them to build their plan a certain way, so there's a clear understanding of the rationale behind a structured plan." Contractors who are newer to the network (the "rookies") start off the week with two days of educational sessions covering the planning principles for sales, revenue and overall finances. More experienced contractors who have developed multiple financial plans with LandOpt (the "veterans") arrive on Wednesday. From there the meeting is a combination of individual courses for the rookie and veteran groups, respectively, and collective group activity — including a chance for both new and experienced contractors to present their financial plans to the whole network for feedback and discussion. Homework assignments hey say that great minds think alike. The landscape contractors who recently attended the annual financial planning week at LandOpt headquarters in Pittsburgh can render their own opinions of whether their minds are truly "great," but there's no questioning that the thinking going on during the November 2012 event was "alike." In fact, that's the whole idea. LandOpt is a service organization that licenses the use of proven business systems for a large network of landscape contractors. These contractors are located in different geographic markets across the country — and since they don't compete within the same territory, they are not only able to work with LandOpt, but can openly communicate about business matters with each other. Components of technology, processes and professional development are offered, all of which LandOpt supports with ongoing implementation services and coaching. The systems are scalable to meet the needs All photos provided by LandOpt T www.landscapeirrigation.com of different size landscaping companies, but otherwise everybody in the network builds a plan in an identical template. By using the same structure, all the numbers that factor into the financial planning process are captured and categorized in a uniform manner. Financial planning week The consistency with financial terminology and format of the plan pays dividends throughout the year for LandOpt contractors, but it's a particularly productive benefit during the annual financial planning meeting, when nearly the entire network converges to discuss each company's plans for the new year. At the meeting held November 12-15, 2012, 98 percent of LandOpt contractors were in attendance. "The goal of the week is to ensure that everyone has all the components they need to put the finishing touches on their financial plan," said Steven Bach, a LandOpt success coach. "We also educate as to why Asking any company to put together a thorough, detailed financial plan in just two to four days is simply unrealistic. That's why each contractor goes through a "homework" process starting several weeks prior to the planning meeting. "It's a very regimented program," said Bach. "We have a series of webinars beginning in early October. We're coaching them on the data they should be pulling and the format they'll need to build their plans. In fact, by the time everyone meets in Pittsburgh, they have already submitted a rough draft to LandOpt, which we've reviewed and given back to them." Luke Henry is the president of ProScape Lawn & Landscape Services, based in Marion, Ohio. The company was founded in 1998, and the 2013 financial plan is the third that Henry has created as a LandOpt licensee. "A lot of the early work is just collecting data — actuals from the current year or previous years — and plugging that information in," said Henry. "The challenging part is determining the financial implications of a future strategy, such as adding team members or service lines. It really forces you to think and figure out the real dollars and cents in advance, so that Landscape and Irrigation 21