Let Me Say - If something seems too good to be true it probably is and you should stay far away from it. However, if you have read anything I have ever written you will know that I do not gamble! I did lose fifty cents in a Casino in Vegas in the early 1970's and have not gambled since; and I am still mad about it!
I Do Like Managed Risks - Which is anything I can control the input and have a greater than breakeven chance of making a profit. I pay close attention to the higher levels of math and how it is used to predict with a degree of accuracy probable outcomes.
Decision Modeling Is One Of My Favorites - Decision modeling use reliable QuickBooks reports to generate predictions of profit and loss based upon re-allocating resources and aligning your Business Process Management system processes to present to you a variety of possible outcomes. As possible outcomes are analyzed decisions become easy because the goals, processes and data come together. It offers you a way to attach knowledge, expertise and analytic insights.
As Contractors Move Away From Gut-level Decisions - And begin relying on their construction accounting systems to provide useful financial and job costing reports the open a treasure chest busting at the seams with useful knowledge which can lead them to earning massive profits and by extension increase their personal wealth exponentially.
If You Could Harness And truly understand even half of the information contained in your existing QuickBooks company file and I mean truly understood it, you could easily become a wealthy, debt free and be living the lifestyle you truly deserve in five years or less.
They Provide Snacks And Beverages - For their field workers and office staff. What you say? It costs money! How is spending money going to make me money? Perhaps you think I am crazy!
Here Is What Happens - Your construction worker, Henry may or may not have a hearty breakfast before coming to work at the construction site depending on a variety of factors outside your control and perhaps his too.
If Henry Is Hungry - His body does not have enough fuel to produce good quality work efficiently at 100% and it will show.
If Henry Is Not Hungry - He will produce at 100% in less time with fewer mistakes and that saves time and money on your labor, material, warranty work and other costs.
If Henry Wastes Thirty Minutes A Day - And you pay him $25.00 an hour that means with all of the employment taxes and overhead he costs you roughly $35.64 an hour. Which means you lost you lost $17.82 on what can be measured. What cannot be measured; bad attitude disease, rework, warranty repairs, excess wear and tear on tools and equipment, etcetera is equal or greater than $17.82.
After A Couple Hours - Intense construction work Henry gets dehydrated and having burned a number of calories, he could be getting important messages from his stomach regarding FOOD NOW! This could cause Henry to slow down a little bit....costing your company some profit dollars.
Lunch Time - Henry didn't pack a lunch, wants to "work through lunch" and leave early. If you watch Henry real close around 02:00 PM you will see the metabolism dance right out of his body and now he is uncomfortable and getting a bit edgy, grouchy and a slightly nasty.
02:00 PM Until Quitting Time - Is when Henry will screw something up, get careless, get hurt and require medical attention, (Ca-ching $$$, Labor and Industries investigation, ca-ching $$$) or if you are lucky his afternoon production will be roughly 80% of his morning production.
Profit Enhancement Strategy #01 - Get a large cooler and assign someone to stop by the grocery store or convenience store and pick up two bags of crushed or cubed ice and a selection of single serving ice teas, bottled water, juices and other beverages and possibly some energy bars and related snacks. Investment per construction worker will be roughly $5.00 +/-
Profit Enhancement Strategy #02 - If you really wanted to increase profits consider having lunch delivered to the job site every day. You could alternate between Pizza, Sandwiches, Chicken, Tacos and whatever else makes sense to you.
We Did This in All Of Our Construction Companies - For over 20 years and it ALWAYS generated more profits than it cost. In our case, a lot more than a measly 100% Return on Investment.
Our Contractor Clients - That are doing this show a substantial Return on Investment. We know it is true because we provide all of their contractors bookkeeping services needs.
This Estimate Shows - The profits that could be slipping through your fingers and you didn't even know it. "Profits Are Made In The Office, Not In The Field" - Randal DeHart
What You Don't Know - Can destroy profitability because it is hidden. If you don't know how to analyze your QuickBooks reports get someone that does, perhaps Fast Easy Accounting.
The Same Scenario Applies To Office Staff - Which is covered in great detail here: http://www.fasteasyaccounting.com/ten-minutes-can-kill-your-company-profits/
When You Come- To my office and start complaining about how much you are paying more in income tax since working with us than you used to earn in a year that makes me very happy!
Because That Means - You are no longer struggling to make ends meet; rather, you are building a financial estate that will provide passive income to support you when you retire.
Growing Profits By The Inch - Is a cinch works great because we did it for years in our construction businesses and we do it now in our accounting office.
For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More.
This Is One More Example of how Fast Easy Accounting is helping construction company owners all 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 people like you so stop missing out! Call Sharie 206-361-3950 or sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation.
Profitable Contractors and Construction Company owners have known about the value of outsourced bookkeeping services and contractor coaching services like ours for a long time and now you know about it too!
We Scan Your Receipts And Invoices link the appropriate transactions to QuickBooks or Xero Accounting Online depending on the construction accounting service you are using and provide ongoing Cloud Based Contractors Bookkeeping Services by accountants who understand construction.
About The Author:
Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+