How To Make More Money In Construction Faster!
Category One Business Owners:
Category Two Business Owners
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Focus on PAM (Production, Accounting and Marketing) and become the lowest-price contractor, hire the cheapest construction workers and suppliers you can find, continually search for cheaper alternatives and do not show loyalty to anyone. Start work on first job that comes along…Ready, Fire Aim because planning is a waste of time and if you lose money on one job you can make it up on the next one. And if you lose money on every job you can make up for it on volume…(Hmmm, you may want to re-think that one).
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Rarely spend time looking at Financial or Job Costing reports and only find out if they made a profit after the Income Tax Return is filed and get an unpleasant surprise!
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Get most or all construction projects by word of mouth instead of using a Marketing Plan. The idea is to rely on other people to promote their construction business because they work so very cheap; almost like Wal-Mart, continually rolling back prices.
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Do all your QuickBooks setup, construction bookkeeping, payroll processing and Quarterly Tax Reports yourself or find a Cheap Bookkeeper
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Avoid getting to organized because in the short run nobody pays for it. Keep the collection of junk tools and equipment because it is cheaper than buying something reliable. They most likely charge by the hour anyway.
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If customers do not get what they want to bad…you never said you were good…just the cheapest price in town!
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Pays the lowest wage you can get away with to your employees and don’t pay them regularly if they can get away with it!
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Keep all information secret including daily work schedules and pay the price in lost profits due to poor communication
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Picks suppliers based on lowest price and only pays them when they refuse to deliver goods and services. And always looking for cheaper alternatives.
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Never looks at any Key Performance Reports of any kind if at all possible
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They attend the nightly meeting of Poor Contractor's Business Round Table also known as the "Round Table with a Pitcher of Beer and Four Poor Contractors Giving Each Other Advice on How to Go Broke Running a Construction Business. The meeting begins when the clock shows the time as Beer-Thirty!
We have mentored many construction business owners to better lifestyles with a process we call "Leveling" and can do the same for you when you are ready!
Who Is Invited To Become A Client?
Business owners in Category One and those in Category Two ready to turn their construction business around.
We strive to be easy to do business with and since our time, energy and resources are limited we limit our client base to working with people we can help to achieve their definition of success.
If you have tax issues, demand letters, unpaid or unfiled Washington State Department of Revenue Reports, Washington State Department of Labor and Industries, L&I, Reports, Washington State Employment Security, SUI, Reports, Federal 940, 941 Quarterly Tax Returns welcome to the club.
It seems most construction companies have these issues at one time or another and if you are ready to turn your business around we can help you.
For us to help it must be understood the overdue reports will be filed and all of the back taxes need to be paid, no exceptions, no passes, no way, no how!
The good news is we work well with all of the state, local and Federal tax authorities and have found in most cases when we get involved they are willing to help. In a lot of cases they will propose payment arrangements that you can live with to help you get caught up and stay current.
It is in everybody’s best interest to help Construction Company owners become successful and stay that way because the “Rising Tide Raises All Ships”
QuickBooks Expert Specializing In Construction Bookkeeping Services
About The Author:
Randal 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 and Construction Accountant and Intuit ProAdvisor. This combination of experience and skillsets 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.
