Construction Company Bookkeeping For Contractors All Across The USA Including Alaska And Hawaii

How Construction Business Owners Gain Personal Time By Working Smarter

Written by Sharie DeHart | Fri, Oct 08, 2021
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy, and money so vital tasks get done more efficiently, freeing up your time.
 
Too many construction business owners think they must keep working harder—taking on more responsibilities and working longer hours to succeed. It makes sense because you’re responsible for your business, but that route leads to work overload and burnout. Ultimately, your business will be unsustainable if you keep pushing yourself to work harder.
 
It doesn't matter how many times you are knocked down; it only matters that you learn your lessons, get up, and go again. Some lessons we already took note of years ago, having owned and operated our construction company. By building a system and gaining insight from us, you can pick up from our mistakes which you don't have to go through and can start avoiding before it comes crashing down. 
 

Here are three tips for working smarter:

1. Commit to deep work

How often do you get five minutes into a project just to be distracted by your email notifications or text messages? It’s difficult to focus on a task while being so distracted cognitively. Your mind has to bounce back and forth between different activities, and it takes time to transition every time a new email comes in.

Set aside time each day when your cell phone is silent, your email notifications are off, and you can’t check your social media. Use that time to focus on your most cognitively demanding tasks. Eliminating distractions frees up your brain to focus on the activity at hand, which in turn enables you to get your work done more quickly.

2. Find the proper business management tools

There are many fantastic platforms and software-as-a-service tools to help you run your business, but not all of them are right for your type of work. It’s easy to get tempted by the latest app that claims to make your life easier. Before you sign up for another subscription service, make sure it benefits you.

Don’t sign up for something because it’s marketed as saving time; make sure it actually will save you time. Otherwise, it just becomes one more tool that you have to log into and use to justify the expense. Productivity apps aren’t productive if you’ve already got your team logged into three other apps. Get rid of platforms that are redundant or don’t meet your needs. Don’t use any platforms because you can—investigate them to make sure they solve a problem for you or make a process more efficient.

That said, when you do find a tool that makes your life easier and more efficient, buy it and use it. You can purchase software to make invoicing easier, simplify project management, and even manage your time.

3. Increase your rates

If you haven’t increased your rates in a while, it’s a great time to consider doing so. Increasing your rates means you can focus on higher-paying clients, earning you more money in less time. You don’t have to raise your rates a considerable amount, either. Increase them enough that if you lose a few clients, your business won’t suffer financially. Then focus on finding new clients who will pay you at your higher rate.

 
You can't outwork your competition forever, but you can outlearn them! Fast Easy Accounting's online learning platform is the answer you've been looking for. Through the self-paced courses taught by The Contractors' Accountant, Randal DeHart, you can focus your time and effort on understanding construction accounting concepts particular to your needs.

We have proudly produced 12 classes in our initial launch. Each course was designed for QuickBooks users from all levels - Beginner to Experienced. Our goal is to provide the student with practical and valuable information to build a construction accounting system specific to their type of construction business and company role.
 
 

 

As with every type of business, having the right tools can help you work efficiently and effectively. The key to your business profitability lies in the understanding of the critical concepts of construction accounting. Now that the tools are available online and accessible 24/7, it's now up to you to leverage the power of knowledge and put it into action.

Final thoughts

Successful contractors focus 80% of their time and effort on increasing revenue and 20% on cutting costs. They outsource whatever is not in their core competencies or those things only they can do that provide value to their clients and generate more cash flow and profits.
 
Contractors like you are skilled in construction but not usually in construction accounting. As Construction Accountants, we understand that there are “too many tasks” and not enough time in the day. This is why we develop systems and processes, use software and apps to make it as fast and easy as possible for our clients to manage their business. In the end, it’s not that you can do your bookkeeping; it is about the best use of your time – whether you are talking to a prospect, looking at a job, creating an estimate, writing an invoice, collecting the money, cleaning your truck and even sleeping.
 
Being a successful construction business owner means working hard—but it doesn’t mean you have to keep working harder. Finding ways to work smarter—by increasing your rates, investigating management tools, and committing to deep work—will help you in the long run. Whether you would like to learn construction accounting concepts or outsource your bookkeeping, we are here to help you.

About The Author:

Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com

 

OUTSOURCED ACCOUNTING FOR 
THE BUSY CONTRACTOR
IN A MOBILE ENVIRONMENT


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