By my reckoning, more than half of all remodelers lack the knowledge needed for success in business. They either don't understand basic numbers like overhead and gross margin, or they don't use those numbers in their decision-making. Time after time, they base major decisions on opinion or gut feelings — not on good systems and objective measurements.

My conclusion comes partly from my own experience and partly from in-depth conversations with hundreds of remodelers. I have taught more than 100 certification courses and countless short seminars, where I've listened to attendees talk about their struggles to make a profit. Some of my 35 employees have been self-employed in the past, and...

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