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The Financial Roadmap To Success: Goal-Setting For Contractors

Posted by Sharie DeHart on Fri, Nov 15, 2024

Setting financial goals for your construction business may be one of your most important responsibilities as a leader and business owner. Your financial goals serve as far more than wishful projections; they form the backbone of your road map for success, both internal and external. Financial goals are something that every single business should possess regardless of its market, model, or size. Let's explore how to set and track financial goals that empower your business to thrive.

Why Financial Goals Matter for Your Construction Business

Financial goals are more than just numbers on a spreadsheet. They are the roadmap that helps you plan and make strategic decisions. Without clear goals, it's like driving without a destination in mind. Think about it—how do you know if you've arrived if you never set out where you wanted to go?

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Topics: QuickBooks Contractors Financial Reports, Business Process Development For Construction, Business Process Management For Contractors, finance, Construction Business Goals, Financial Modeling, Financial Statement, Goal-Setting in Construction

Financial Statements Demystified: A Practical Guide For Contractors

Posted by Sharie DeHart on Fri, Aug 09, 2024

Understanding financial statements might sound daunting, but small business owners like you must stay on top of your game. Each financial report offers unique insights into your company's economic status. 
 
As a construction contractor, your financial statements provide valuable insights into your company's financial health and are essential for making informed decisions. Let's look at the critical components of financial statements and why they matter to construction contractors.
 
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Topics: QuickBooks Contractors Financial Reports, Construction Bookkeeping And Accounting, Project Management, Financial Modeling, Financial Statement

Utilizing The Power Of Financial Modeling In The Construction Industry

Posted by Sharie DeHart on Fri, May 31, 2024

In the ever-evolving world of construction, financial modeling is a game-changer. It drives intelligent decision-making, minimizes risks, and ensures the revenue health of projects. Crafting precise and insightful financial models is a valuable tool for construction companies. It offers a panoramic view of the asset landscape and enables proactive planning and strategic management.
 
Financial models are invaluable tools designed to help you understand and protect your business's economic health. By simulating different scenarios and examining potential outcomes based on various inputs, such as sales growth, margins, and cash flow, these models provide a comprehensive picture that aids in informed decisions.
 
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Topics: fully burdened labor costs for construction worker, Financing Secrets Revealed, finance, Contractor Guidance, LMOS, Financial Modeling

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