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10 Financial mistakes to avoid

“If you’re going to build a business that is scalable and valuable, you must get your financial house in order.” - Jeffrey Scott

A few months ago fellow business coach, Jeffrey Scott, published an article on the Top 10 Financial Mistakes he sees business owners make. In it he shared that before taking on a new client he asks them to rate their financial involvement. I’d love to ask you the same.

How would you rate yourself in regards to your finances? 

Level 5. Review financial reports monthly and operational reports weekly, and other operational numbers daily, making key decisions along the way.

Level 4. Review financial reports monthly, making many decisions monthly.

Level 3. Look briefly at reports monthly (or every other month), making just a few decisions.

Level 2. Look at reports quarterly at best.

Level 1. Wait till year end to see how I did.

No matter where you are on the scale - you are not alone and there is always room for growth. Knowing your...

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Nextra Network: IT Services

When we understand how to use it, technology can simplify our day to day operations and help ensure important tasks are not slipping between the cracks. When we don’t understand what to use or how to use it - it can add an additional layer of stress.

Did you know Nextra has an in-house IT department specifically for this reason? Technology enthusiast Jordan Robertson acts as both our Chief Technology Officer and on-site IT technician. Jordan is always looking for the newest technology and IT solutions to help our clients - and us - stay ahead of the curve, in and out of the office 

Nextra Network’s IT services include:

1. Purchasing, implementation and training of various softwares and programs

Microsoft Office/365/Teams, Slack, LMN, Aspire, accounting software, design and drawing programs, etc.

 2. Purchasing, installation and training on various hardware and hardware components/accessories

Landline phone systems, mobile phones, desktop and laptop...

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Nextra Network: Buyers Group

As a small business owner, do you ever feel like the cards are stacked against you? The larger companies have greater buying power and therefore access to greater discounts. At Nextra Network, we want to level the playing field a bit. The Nextra Network buyers group allows smaller companies to combine their purchases in order to create more buying power - and therefore greater discounts - for everyone. 

We’ve been listening to you and have created a group of suppliers for the Buyers Group with your specific needs in mind. Our commitment is to work behind the scenes to bring these deals together for you while working with reputable companies that we can recommend you use without reservation.

Currently we are working with companies to get you:

  • Licensed vehicles
  • Equipment & large commercial vehicles
  • Materials
  • Software & Hardware
  • Direct access to manufacturer reps

If you’d like more information on the Network and to request a meeting with Grant please click ...

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Business Coaching: It’s More Than Cheerleading (can you picture Grant with pom poms?)

“When Grant from Nextra Consulting asked us last year if there were any areas where he could help us, we jumped at the opportunity to work with him. Nextra Consulting helped us to not only see areas where we could grow our business, but to operate more efficiently on a daily basis. With his help, we have defined our vision, core values, immediate and future goals and added vital positions we did not realize we needed. We also run more productive team meetings with set timelines, agenda items and a rating system. If you're looking for a consultant to help you organize and run your business more efficiently, we strongly recommend Nextra Consulting.” (Mountview Landscaping)

 

Business coaching is about more than just having a cheerleader in your corner. A coach helps you gain clarity and create a long term vision for your company. 

At Nextra, coaching means having a sounding board when you want input or advice on company decisions. It means having accountability...

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One size fits all does NOT apply to generosity

One size does NOT fit all when we’re talking about how to show generosity and gratitude to clients. As owners we can often feel stumped as to what we could do to show thankfulness in a simple and sustainable way.

We wanted to share a variety of ideas with you so we called a number of our clients and business owners within our industry and asked them how they show gratitude to clients. As predicted, each of them do it differently and we’ve compiled some ideas for you below.

Random Acts of Kindness

“We have random acts of kindness that we do for clients & customers.” - Jeff (Jeff’s Outdoor)

When we spoke with Jeff he shared that they have a donation budget and that throughout the week their staff are encouraged to keep an eye out and bring ideas to their supervisors if they think there is a project the company might like to get involved in. Then, during the weekly meetings, the managers talk about the ideas brought up. For example, one of their staff...

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Nextra Network: Together we can go far

“Coming together is a beginning. Keeping together is progress. Working together is success.” -  Henry Ford

You didn’t go to school to become a bookkeeper or accountant and that’s not why you started your landscaping business. Yet here you are, a business owner, who needs to suddenly understand business finance.

Did you know most landscape companies fail because the owners don’t understand their numbers? It’s frustrating when you don’t know where to start and it’s normal to feel frustrated and intimidated by it. 

It’s your accountant/bookkeeper’s job to record data and relay it to you - but not necessarily to help you understand the numbers and make decisions based on them. This is where we come in. We know the numbers for our industry and what they should reflect, as well as the impact changes to the numbers will mean for the business.

 

 

Allowing us to help you with the financials takes away a lot of...

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Gratitude is crucial.

Just as there is no one way to show gratitude to your clients, the same is true in showing gratitude to your staff. While the what and how are not important, the doing is. With staff spending more time with you than they do their own families, it’s crucial that they feel respected and appreciated.

We asked a number of business owners how they show gratitude and generosity to their staff and here are a few of the things they had to say:

We’ve created a place that people want to be

“We’ve worked at creating a culture where grumpy employees do not fit in. We don’t have it all figured out, and a few less than ideal hires have slipped through, but we strive to make DICAM a enjoyable place to work.” said Brian (Dicam Landscaping). “Over the past number of years we have really worked on our culture. We hire mostly based on referrals, and attitude is a huge factor. If people complain or grumble a lot I hear about it quickly because we have such...

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Introducing the Nextra Network

When we were in business, we worked really hard but didn't make any money. 

At the time, we didn't know what questions to ask or who to contact to help us figure out where we were going wrong. Yes, we created beautiful landscapes and had excellent staff and customer service, but we drove ourselves - and each other - crazy trying to figure out how to make the business profitable.

We know our experience is not unique. This is why we started the Nextra Network. We want to provide landscape business owners with the tools they need to create strong and profitable businesses, not just beautiful landscapes. 

The Nextra Network provides business coaching, financial services, a buyers group, and education, along with health & safety and human resources advice. It’s kind of like "business success in a box". By helping ensure these elements are taken care of, the Nextra Network allows owners to focus on what they do best, and sleep better at night knowing that the important...

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Why are you really giving gifts?

"When you make a gift all about you, it's not a gift. Gifts are meant to be all about the recipient, from the timing to the personalization of the gift itself. When it's all about you and your company, it shows a lack of genuine appreciation for the recipient.”

So often in business the idea of generosity is believed to be a waste of money but John Ruhlin, author of Giftology, shares that it’s actually the opposite. During the short read you will find practical ways you can give back as an owner. John shares the do’s and don'ts of gift giving in an easy-to-understand and implement way - it takes time and effort to gift well.

Some tips:

  • DO make sure the gift is not about you, the giver, but about the person receiving the gift
  • DO make sure the gift is personal 
  • DON’T brand the gift to your company
  • DO budget how much you want to spend on gifts

Reading Giftology has made me take time to really consider the recipient and what would be special to them. This...

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Generosity & why it's one of our core values

“I left my first meeting with Grant and Marla knowing 2 things without a doubt: 1) Kindness and generosity are at the forefront of every interaction they have, and 2) I needed to be part of the Nextra team" (Jordan - Nextra Team Member)

Generosity and humility are two of our core values at Nextra. We believe in their power and strive to live them out in our professional and personal lives every day. We have been on the receiving end of much generosity and humility and we remember how good and thankful it made us feel. We want people to experience that feeling when they interact with us. 

Maya Angelou said, “People will forget what you said, people will forget what you did, but people will never forget how you made them feel”. And it is so true. Generosity and humility are expressions of kindness. Did you know studies have linked kindness to physical and emotional health? They’ve discovered kindness lowers levels of stress hormones, leaves people feeling...

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