Financial Basics: The Foundation of a Profitable Contracting Business

Tuesday, November 5 - Wednesday, November 6

Virtual Event


This workshop qualifies for 8.0 CEU credits

1:00PM - 5:00PM EASTERN (10:00AM - 2:00PM PACIFIC)

Financial Basics: The Foundation of a Profitable Contracting Business

Most contractors want to grow their profits and their business without losing control. One of the most important elements needed to put your business in that position is simple but too often misunderstood: getting accurate and timely financial numbers.

In this workshop, we will ensure your business has the financial foundation in place to sustainably scale and grow profit. We’ll review crucial information on the topic, including financial terms; the chart of accounts for our trades based on GAAP; cash accounting versus accrual and why to which; the basics of Inventory systems; income statement basics; departmental to GP Line; balance sheet; and cash flow statement. And you’ll walk away with an understanding of key performance indicators by segment.

Attendees will learn:

  • Role of the technician
  • “Mind mapping” – attitudes and focusing on both the present and future goals
  • Dealing with people – personality types, social styles, and the hows and whys
  • Understanding effective communication
  • Defining the seven selling skills
  • Understanding how to sell by involving customers
  • Setting goals and a personal plan
  • What is the perfect service call process?
  • Defining the 12 questions we recommend asking the homeowner


Speaker Elekes
Gary Elekes
President, EPC Training
Gary Elekes is serial entrepreneur with a passion for helping others become more successful by sharing what he has learned over the past 3 decades working closely with all facets of the contracting industry. During his career, Gary has held senior management positions at Lennox and Service Experts. In 2000, Gary moved into entrepreneurship and started his training and consulting business EPC. Today, EPC continues to support growth oriented businesses aspiring to reach 20% EBIT. He also designed the very first web based learning platform for the residential contracting industry, which acts as a support system for training and learning in HVAC and plumbing trades, and has over 5,000 subscribers.

In 2003, Gary began acquiring contracting firms with a focus on developing turn-around opportunities. He also opened and operated several start-up businesses. In 2010, he added web design/SEO and online marketing to his company portfolio starting Imarket Solutions as a co-founder. Gary graduated from Ohio State University with a BSBA and also holds a Master's Degree in Business and Finance.
Speaker Long
Weldon Long
New York Times Best Selling Author & Contracting Business Expert
Weldon Long is a successful entrepreneur, sales expert and author of the NY Times bestseller, The Power of Consistency – Prosperity Mindset Training for Sales and Business Professionals (Wiley). In 2003, he walked out of a homeless shelter and built an Inc. 5000 company generating cumulative sales of over $20,000,000 within just 60 months. In 2009, his company was selected as one of Inc. Magazines Fastest Growing Private Companies in America.

Today, Weldon Long is one of the nation's most powerful speakers and a driven motivator who teaches others the Sales and Prosperity Mindset philosophies that catapulted him from desperation and poverty to a life of wealth and prosperity. Weldon has been featured on numerous national and regional television programs, including Fox News Network, First Business Network and Chicago's own WGN.

Mr. Long has successfully used his signature program, The Power of Consistency, to help hundreds of companies and thousands of sales professionals radically improve their sales results. Weldon holds a Bachelor's Degree and an MBA in Management.

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