Direction November/December 2017 - 34

importantly, what should it be? If you
know that the direct cost of a move
is $6,850, how should you price it?
What is the gross profit margin that
you expect? What is the cost per mile
of operating a vehicle? What is an
expected labor percentage?
Use financial tools. There are
two helpful Excel workbooks-plus
six other complimentary workbooks
designed for the moving industry-
available at 60minutecfo.com.
The first is "Move Mastery,"
which allows you to both track and
forecast your three profit levels.
In addition, it will automatically
calculate your key financial ratios
and cash flow. Use it every month
to ensure that you are achieving the
profit margin goals that you have set
for your organization.
The second is "Job Costing," a
workbook that calculates the gross

profit margin on any service that
you provide. If you take the trouble
to track this on a regular basis, you
will eventually learn what the profit
margins are on services you provide, as
well as what they should be.
While 2018 is slated to be a challenging year, some firms will generate
profit margins well in excess of industry averages. They are the ones that
diligently measure and track their costs
every month. They not only know
what their margins are but also what
they should be. They take the time to
forecast financial statements and track
progress. They know the difference
between profits and cash flow. The
above-mentioned tools will help you
do all of this.
Take the time to diligently track
all three levels of profitability: level 1
(gross profit and gross profit margin),
level 2 (operating profit and operating

profit margin) and level 3 (net profit
and net profit margin). These are only
three important ratios-not 30-so it
won't take long. It's an important thing
to add to your chores to help increase
your margins.
While significant profitability in
the coming years is not guaranteed, it
is certainly attainable. Think strategically. Dig into the numbers. Know
your costs. And remember, every day
is day one. n
David A. Duryee is managing director
of Horizon Management Services LLC,
and he has been performing business
consulting, succession planning and
financial training for more than 35 years.
He is author of 60 Minute CFO: The
Fast Track to Understanding Finance
for Movers and a frequent speaker at
AMSA events.

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MILITARY APPROVED SCAC?

NOVEMBER | DECEMBER 2017

Denali Group has the knowledge gained from actual experience with this
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opportunity to discuss. Please contact scac@denaligroup.com today!

Direction

34


http://www.60minutecfo.com http://www.denaligroup.com

Table of Contents for the Digital Edition of Direction November/December 2017

FROM THE PRESIDENT
INDUSTRY NEWS
WHAT’S NEW AT AMSA
AMSA PARTNER PROFILES
Piloting Profits
Challenged by Change? We’ve Got This!
WASHINGTON WATCH
ADVERTISERS’ INDEX
FAST FACTS
Direction November/December 2017 - Cover1
Direction November/December 2017 - Cover2
Direction November/December 2017 - 1
Direction November/December 2017 - 2
Direction November/December 2017 - 3
Direction November/December 2017 - 4
Direction November/December 2017 - 5
Direction November/December 2017 - 6
Direction November/December 2017 - 7
Direction November/December 2017 - FROM THE PRESIDENT
Direction November/December 2017 - 9
Direction November/December 2017 - INDUSTRY NEWS
Direction November/December 2017 - 11
Direction November/December 2017 - 12
Direction November/December 2017 - 13
Direction November/December 2017 - AMSA PARTNER PROFILES
Direction November/December 2017 - 15
Direction November/December 2017 - 16
Direction November/December 2017 - 17
Direction November/December 2017 - 18
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Direction November/December 2017 - 27
Direction November/December 2017 - Piloting Profits
Direction November/December 2017 - 29
Direction November/December 2017 - 30
Direction November/December 2017 - 31
Direction November/December 2017 - 32
Direction November/December 2017 - 33
Direction November/December 2017 - 34
Direction November/December 2017 - 35
Direction November/December 2017 - Challenged by Change? We’ve Got This!
Direction November/December 2017 - 37
Direction November/December 2017 - 38
Direction November/December 2017 - 39
Direction November/December 2017 - WASHINGTON WATCH
Direction November/December 2017 - 41
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Direction November/December 2017 - ADVERTISERS’ INDEX
Direction November/December 2017 - 47
Direction November/December 2017 - FAST FACTS
Direction November/December 2017 - Cover3
Direction November/December 2017 - Cover4
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https://www.nxtbook.com/ygsreprints/AMMOV/direction_mayjune2018
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue4_2017
https://www.nxtbook.com/ygsreprints/AMMOV/direction_marapr2018
https://www.nxtbook.com/ygsreprints/AMMOV/direction_janfeb2018
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https://www.nxtbook.com/ygsreprints/AMMOV/direction_novdec2017
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue2_2017
https://www.nxtbook.com/ygsreprints/AMMOV/direction_septoct2017
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue1_2017
https://www.nxtbook.com/ygsreprints/AMMOV/direction_julyaugust2017
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue4_2016
https://www.nxtbook.com/ygsreprints/AMMOV/direction_mayjune2017
https://www.nxtbook.com/ygsreprints/AMMOV/direction_marapr2017
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue3_2016
https://www.nxtbook.com/ygsreprints/AMMOV/direction_janfeb2017
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue2_2016
https://www.nxtbook.com/ygsreprints/AMMOV/G68068_direction_novdec2016
https://www.nxtbook.com/ygsreprints/AMMOV/direction
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue1_2016
https://www.nxtbook.com/ygsreprints/AMMOV/direction_julaug2016
https://www.nxtbook.com/ygsreprints/AMMOV/direction_mayjun2016
https://www.nxtbook.com/ygsreprints/AMMOV/it_issue4_2015
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https://www.nxtbook.com/ygsreprints/AMMOV/ammov_sepoct2015
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https://www.nxtbook.com/ygsreprints/AMMOV/g51838_ammov_julyaug2015
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https://www.nxtbook.com/ygsreprints/AMMOV/g50117_ammov_mayjune2015
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https://www.nxtbook.com/ygsreprints/AMMOV/ammov_it_issue3_2014
https://www.nxtbook.com/ygsreprints/AMMOV/g47631_ammov_janfeb15
https://www.nxtbook.com/ygsreprints/AMMOV/amsa_sourcebook_2015
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https://www.nxtbook.com/ygsreprints/AMMOV/g45738_ammov_novdec2014
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https://www.nxtbook.com/ygsreprints/AMMOV/g42909ammov_julaug14
https://www.nxtbook.com/ygsreprints/AMMOV/g41053_ammov_mayjun2014
https://www.nxtbook.com/ygsreprints/AMMOV/AMMOV_IT_2013_V4
https://www.nxtbook.com/ygsreprints/AMMOV/g39757_ammov_marapr2014
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https://www.nxtbook.com/ygsreprints/AMMOV/AMMOV_IT_2013_V2
https://www.nxtbook.com/ygsreprints/AMMOV/g38015_ammov_direction_novdec2013
https://www.nxtbook.com/ygsreprints/AMMOV/P36576_AMMOV_IT_2013
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https://www.nxtbook.com/ygsreprints/AMMOV/g25957_ammov_direction_mayjun2012
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