Our New eBook is out! More than 15 pages filled with Marketing, Accounting, and Production tips, checklists, and best practices that you can use year-round for your construction business success.
Free Download here.

FEA Randal And Train
Call Us At 1-800-361-1770
Bookkeeping Trial Test Drive
Outsourced Accounting
Contractor Bookkeeping Templates For QuickBooks And Xero
Construction Accounting Academy
  • There are no suggestions because the search field is empty.

The General Contractor And His Pattern Interrupt

Posted by Randal DeHart on Tue, Nov 01, 2011

*Bohunk Bob - Is one of the best construction business owners I have ever met. He is honest and a man of high integrity. If Bohunk tells you he will do something you can count on him to follow through because he believes in life you either produce reasons or results; and reasons don't count.

Too Often - Our construction clients get stuck in a rut which is simply a grave with both ends sloped up to ground level to make it easy to go back and forth before stopping one final time.

They Were Not manifesting - The money which they have rightfully earned.

Bohunk Was Giving - Good value to his customers and clients by going above the extra mile. He made sure to get the right material for the job, his craftsmen were amoung the best in the land and his tools and equipment was always in excellent working order.

To Put It Bluntly - Bohunk and his crew were underpaid and overworked.

Cause And Effect - The fruit tree produces good fruit when the conditions are right and the roots go deep into the fertile soil. What is above ground is the Effect or seen and it is directly related to what is underground or the Cause.

The Cause - Is rooted in Bohunk's Paradigm or his attitude or to put it another way his Thinking Pattern. 

The Effect - Is that his net income year over year, recession or not, never got above $40,000

The Answer - Is Bohunk needed his thinking pattern interrupted long enough to get on a new track. That is part of what we do for those that can stand the pain of change long enough to manifest a new effect. The problem is always the "Protective Conditioned Mind And It fear Creating Mechanisms" that say change is bad! Rut is good!

To Help Bohunk - I simply changed my Paradigm and began to see him and his crew being well paid and earning a decent living and helped him develop a Business Strategy for his construction company. Over a few short years I made it clear that I expected him to get to at least $100,000.00 net income because there are a lot of toys he and his family needed, had to have, could not live without!

90% And 10% - Bohunk understood that in order to build a passive income stream he needed to make some investments and learn to live on less than he earned. So he began taking 10% of his income and putting in the bank and as it grew to a tidy sum he purchased investment properties. The 90% was more than enough to pay the bills and have some toys.

Eventually The 10% - Became 20% and then 30% and his investments grew to the point where one day he came to me and said I am thinking about retiring. I said retire is simply you got tired of them or they got tired of you!

What Are You Retiring From - Your construction business has systems in place, it practically runs itself, you show up twice a week for a few hours to say hello and check on things, what exactly are you going to retire from?

Bohunk Wanted -To travel, see the world and not worry so it was time to sell the business; which he did and is who knows where now enjoying a beautiful sunset.

The Moral Of This Story - If you own a construction business and you are not getting what you want from it change you thinking pattern and Develop a Business Strategy

If You Need Help - Find someone to be your coach and mentor. If and only if you own a construction business I would like to meet with you. For everyone else there are some great business mentors and coaches you can find and meet.

*Bohunk Bobis not his real name

Outsourced Construction Accounting Services

Outsourced Construction Bookkeeping Services

 

QuickBooks Expert Specializing In Construction Bookkeeping Services

 

About The Author:

Randal DeHart, PMP, QPA The Construction AccountantRandal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor and QuickBooks For Contractors Expert. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and construction accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.

Topics: Pattern Interrupt, Strategic Planning, General Contractor

QuickBooks Setup And Chart of Accounts For DIY Contractors
Download Our Free App For Construction Contractors

click to download the Contractors APP now from the App Storeclick to download the Contractors APP now from the Android store

Access Code: FEAHEROS

accounting articles

Subscribe by Email

How Can We Help?

 
Contractors Bookkeeping And Accounting Services

Who We Help

How We Help

Next Step

FAQ's

Contractors Bookkeeping And Accounting Services

Outsourced Construction Accounting Services For Contractors All Across The U.S.A. By Fast Easy Accounting 206-361-3950

Serving Construction Contractors
Across The U.S.A
Including Alaska
And Hawaii

Podcast On iTunes
 
Click Here To Listen In iTunes
Contractor  Success M.A.P.
Contractors Bookkeeping And Accounting Services

Remote Access Your QuickBooks  Using Secure Servers

Outsourced Bookkeeping Services For Contractors At Fast Easy Accounting

Highly Recommended by Locals On Alignable

Most Popular Posts

Read the Latest:

Browse by Tag

badge

Blog Suggestion Box

We Remove Contractor's Unique Paperwork Frustrations

Quickbooks certified proadvisor

Xero-Accounting-Services-Fast-Easy-Accounting

Financial-Intelligence-And-Performance-Reporting-Tool-Fast-Easy-Accounting Hubdoc-Document-Collection-and-Management-System MBA Member Fast Easy Accounting 206-361-3950
 
contractor-success-map-podcast-listen
 
Don't forget, you can hire our services at FastEasyAccounting.com
 
 
How To Use Our Services