Strengths, Weakness, Opportunities And Threats Analysis (S.W.O.T.) Are among the tools we use to help construction companies like yours to evaluate your geographic and demographic target markets and develop strategic plans to increase you company sales, cash flow and bottom line profits by focusing on a few Key Strategies that require the least amount of effort and generate optimum sales cash flow and profits for you contracting company.
It is important to note the phrase "...generate optimum return" was used instead of "...maximum return" because optimizing your construction company will always generate far greater wealth in long run than maximizing it.
As proof, imagine one of your construction company vehicles being driven on a racetrack at top speed. It may last 500 to 1,000 miles if you are lucky. That same vehicle driven at optimum speed of 45MPH and serviced regularly will likely last 50,000 to 100,000 miles, which is 100 times longer.
This may seem silly; however, it is based on years of owning and operating contracting companies and working with contractors and learning the Secrets of Successful Contractors. From studying thousands of financial statements and comparative analysis, we know how and why some contractors earn a lot of money and why others do not.
SWOT - Is one of the tools we use in strategic planning for construction companies to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in determining the particular target market.
Strengths - Are construction projects that your construction company does extremely well at and earns a greater than average gross margin than give it an advantage over other contractors. What are they and how can your construction contracting company expand on them?
Weaknesses - Are construction projects that your construction company does poorly at and breaks even or loses money. What are they and how can your construction contracting company turn them into strengths?
Opportunities - Are construction projects and markets not currently being served where it is possible for your construction company to enter and turn them into strengths?
Threats - Elements outside your construction company that could cause trouble for you or your construction projects. What are they and how can your construction contracting company turn them into opportunities?
"So it is said that if you know your enemies and know yourself, you can win a hundred battles without a single loss. If you only know yourself, but not your opponent, you may win or may lose. If you know neither yourself nor your enemy, you will always endanger yourself." - The Art of Warby Sun Tzu
There Is A Lot More that I would like to share with you about using SWOT to help your construction company increase sales, profit and cash flow by redirecting the time, money, energy and resources from the bottom 80% of your current customers clients and jobs to the top 20%. Please feel free to contact Sharie for more information.
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 just like you 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 and me 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 Servicesby accountants who understand construction.
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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, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist and Bill.Com Certified Guru. 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 Xero 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.
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. Follow Randal on Google+