A New Tool Designed To Hone Business Survival Skills
Enter the Luxaire® Business Analyzer.
The new software program, designed by the Luxaire division of York International’s Unitary Products Group here in Norman, is available to Luxaire dealers who are part of the Luxaire Liberties™ program. It is currently in its beta testing stage.
Some of the features of the software include the ability to calculate and compare data using a database of hvac industry-specific metrics and ratios. An electronic “consultant’s report” is generated that shows how the user’s business measures up to key ratios, and identifies some specific areas of the business that are contributing to variances outside of the ratios.
The software does not require Luxaire dealers to install or learn any software or new business techniques or principles.
CONTRACTOR TESTIMONIALS“This product, if used properly, could help many businesses stay in business and become profitable by understanding their cost to stay in business,” said Steve Hardesty of Hardesty Team Co., Oklahoma City, OK. “Technical people, who have the skills to service and install hvac equipment and products, start most small businesses in this trade. Most of them fail because they do not understand the financial side of the business and what their actual costs are in doing business.
“The Business Analyzer, if used properly, will show them everything they need to know to set up their pricing to be successful in business as their business grows.
“I decided to test the product,” continued Hardesty, “in hopes that it will keep me more up to date on how my business is running and what I need to do to make it perform better. I also hope that it will make it easier to get all the financial information about my business that I need to make the right decisions.”
Bruce Beckwith of Beckwith Heating & Cooling, Inc., Akron, OH, was impressed with questions posed by the Analyzer. “From the questions [asked], I have already started to look deeper into the financials and question some areas,” he said.
“Working as a small business can be tough, especially switching hats from technical to management, which is where I am right now. I am learning to look at things a little differently as I try to grow and prosper. It is not an easy transition, but one that definitely has to be addressed,” said Beckwith.
“I have been working on some other areas of growth, budget, projected cash flow, projected sales, etc., and this seems to fit in with them all.”
Publication date: 05/13/2002