Oct 8, 2015
The First Place - To start is to understand how the 80/20 Rule applies to your construction company.
Some Construction Company - Owners feel that all staff members from the laborers to the Project Managers need to hustle and run everywhere and if they are giving less than 110% to the job they are not doing enough.
Some Contractors - Like to make sure everybody knows they can be replaced at any time day or night which makes people uncomfortable and likely to search for another job elsewhere. If someone wastes ten minutes a day on your payroll click here to see what it could be costing you!
When Contractors - Treat their tax preparer, banker, construction accountant, suppliers, construction attorney, financial planner (what should have been his Board of Advisors) vendors, bookkeeper and everyone they come in contact with like an enemy they are likely to lose money due to bookkeeping errors, slow service and general lost time.
If Your Construction Company Profits - Averaged over the past five years are less than 10% you may want to fill out the form and meet with us for a no-charge consultation. In addition you may want to look at the Business Strategy Program.
We Have Hundreds - Of fast, easy and safe ways that can increase your company profits and put more money in the bank to operate and grow your business. It is all about having a Strategy That Works!
If You Stock Your Truck - With every tool you
think you may need and loading it to the sky with all the parts and
inventory you think you may need and drive hard and fast you are
maximizing that resource and that is not a good thing.
Benefit - Hopefully fewer trips to the supply house, Lowes, Home depot or other places which will save you a little bit of time and money.
Costs - You will end up spending more money for each mile you drive because you use more fuel, your brakes will wear out faster from having to stop with more weight. Your tires will wear down quicker and your vehicle suspension parts will need to be replaced sooner rather than later. You will have money that is tied up in tools, equipment and inventory that could be invested elsewhere and make more money for you. Even worse, if you have any credit card debt or loans that money could be used to pay them down and reduce your interest expense.
Risks - If you involved in a traffic collision and the investigation reveals that you have exceeded the Gross Vehicle Weight Rating (GVWR) of your truck or van then it is likely your insurance may not cover the damages. In addition you may be liable for negligence charges. We recommend you contact your insurance agent and your attorney for their advice.
Stock Your Truck - Wisely by having a strategy that serves a niche market and uses the 80/20 Rule and you will not need so many tools, parts and equipment. Another money saving tip is to only keep the items on board that are used every week to reduce your GVWR and save money on every mile you drive.
Benefit - There is no money in chaos. By
keeping your organized and serving a niche market means fewer
visits to your supplier which will save you even more time and
money. Saving time and money by not having to hunt for something in
your truck will add even more profits to your bottom line. When you
understand What Ten Minutes Cost Your Company and develop your
Business Strategy your profits will grow and be flying high like an
I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person.
We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!
That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.
I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast
This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email firstname.lastname@example.org
Thinking About Outsourcing Your Contractors Bookkeeping Services?
Click On The Link Below:
Need Help Now?
Call Sharie 206-361-3950
In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting.
Thank you very much and I hope you understand we really do care
about you and all contractors regardless of whether or not you ever
hire our services.
Bye for now until our next episode here on the Contractors Success MAP Podcast.
Randal DeHart | Contractors Accountant