Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast
The Owned and Operated electrical, HVAC, and plumbing business growth podcast is hosted by John Wilson and Jack Carr. These two Home Service Business owners bring you weekly podcasts and daily content with multiple perspectives, actionable advice, and info on an ever-changing industry revolving around advertising, lead generation, and more.
Join us every Tuesday for topical conversations that unlock the potential for your business growth. Covering topics from top-tier talent recruitment to mastering marketing strategies and scaling your home service business, the podcast aims to be your guide on the path to entrepreneurial success.
For more information, visit www.ownedandoperated.com.
Owned and Operated - A Plumbing, Electrical, and HVAC Business Growth Podcast
Double Your Profit Day #14 Why Waiting For Monthly Reports Is Hurting Your Business
Welcome to Day 14 of the Double Your Profit Series — the go-to profit series for contractors, home service owners, and small business entrepreneurs. Today, we’re diving into one of the simplest, most powerful habits you can build: Making Your P&L a Daily Tool.
🧠 If you’re waiting until the end of the month (or worse, months later) to see your numbers, you’re already too late. Real profit decisions happen in real time — not after the fact.
💡 What You’ll Learn in This Episode:
Why monthly financials leave you 40–50 days behind the problem
The exact daily numbers you should be tracking (revenue, labor, materials, gross profit, and more)
How knowing your break-even day changes your decision-making
Why a fast feedback loop is the key to being profit-first
How to work with your accountant/bookkeeper to get data weekly, daily, or even hourly
The hidden cost of delayed reporting — and how to fix it now
💸 This Episode is Brought to You by CFO Made Easy
Built a strong trades business? Let’s take it to $10M and beyond. CFO Made Easy offers part-time CFO services for home and trade service businesses—helping you boost cash flow, maximize profit per tech, and make confident financial decisions.
📈 Free Offer: Book a 45-min Financial Insight Session to uncover your pricing blind spots.
⚙️ Profit is a scoreboard — and the team can’t play to win if they don’t know the score. When you see the numbers daily, you make better calls, faster, and with confidence.
🔥 Think of this episode as your “profit wake-up call” to stop running blind and start making data-driven moves every single day.
📚 Keep Learning
More Ways To Connect with O&O
John Wilson, CEO of Wilson Companies
Jack Carr, CEO of Rapid HVAC
📌 Disclaimer: Some links may include UTM parameters or affiliate relationships, meaning we may earn a commission if you make a purchase. Episodes may feature sponsors, but all opinions expressed are our own.
Welcome back to Double Your Profit. Today we're talking about making your p and LA daily tool. Now, I hinted at this at earlier videos when we were talking about keeping score and training on profit. Today we're gonna talk even deeper on what that looks like. Now, most businesses that I know are checking profit monthly and maybe not even then.
Maybe they get financials for May at the end of July or mid-July. That is not good enough. We should be driving profit making decisions every single day based on good data every single day. So what that means is we need to know our key numbers every day. What's my revenue month to date? What was my revenue for yesterday?
What was my labor? What was my materials, and what was my gross profit? Month to date. Now, if you can, you should be taking this even a step further. What we have on our dashboard is how much cash have we deposited in our account this month? Exactly how many dollars we pulled off our credit card. How many dollars have come off our credit card for marketing this month?
What day are we hitting our break even? That's really important. When do we actually start making a profit and are we pacing to budget? We even have our net profit month to date on there. Based off a couple of assumptions. We might be a little wrong, but we are directionally correct. It gives us the information to drive p and l decisions every single day.
The team knows the score. If you're asking why, the answer is, we're here to maximize profit. If I have an issue and I'm getting financials 10 days or 30 days after that issue happened and that issue happened mid month. Then I might be 40 or 50 days behind in solving that issue. If I had an issue yesterday, and I know that today, I'm 24 hours behind, and that makes a real impact.
When you are driving to be profit first, you need a fast feedback loop so that you can solve real decisions. In real time. This takes a little bit of work to get right and it starts with having clean financials. So talk to your accountant, talk to your bookkeeper, talk to your controller and say, Hey, how do we get this not just on a monthly, how do we get this weekly?
How do we get this daily? And if you can, how do we get this hourly? What is the tightest? You can get your reporting so that you always know exactly where you are. If you liked this video, make sure you like and sub so you don't miss the next couple.