What Is Your Biggest Challenge?
If You Are In This Contractor Group - You are the second largest group of the Four Types Of Contractors. Together you and your like-minded contractors combined production is more than the Enterprise Level Contractors due to the number of contractors similar to you.
Here Are A Few Statistical Production Averages Per Person Where You Do Well:
Sales Dollar Volume Per Job
Sales Dollar Volume Per Month
Sales Dollar Volume Per Year
Marketing Cost Per Dispatch
Dollars of Revenue Per Billable Hour
Percentage Closed Sales Per Dispatch
Billable Hours In Standard Eight Hour Day
Your production average - Per person is not as high as Dog And Pick-Up Truck Contractor however it is close because you have implemented systems, processes and procedures.
Your Company Has Implemented - Some Business Process Management Initiatives, Six Sigma Initiatives, BGC Matrixes, 80 20 Construction Rules and other profit and growth strategies.
This is according to our research and contractor studies we have been engaged in since the early 1970's.
Let Me Describe Some Of Your Wonderful Personality Traits
You Are A Wonderful Soul - Due to the number of times you have been involved in litigation, negotiations, defections of key staff and customers and the number of earth shaking massive disappointments you have experienced has toughened you up and you tend to keep your guard up.
One Of The Most Heart Wrenching - Tasks you have had to do is upgrade management staff because in order to get here you needed to change your staff several times. The people who helped you start the company would not adapt to change so you had to change people. The people who helped you grow the company from Salt of The Earth to Professional had to be replaced because sadly they would not adapt to change.
These Growth Events Are Called Expansion Isoquants - And if you planned for them they were fast and easy; however, if you did not it was hard and painful.
Your Company Now Has A Structured Approach - And you tend to operate more like a firm than a construction business.
Your Firm Has - Formal organizational charts, processes and systems including a formal documented business plan which is updated and reviewed regularly with a board of advisors as outlined in my article on the subject.
Your Firm Invests Heavily In Marketing - You understand your target market, and use The 80/20 Rule to understand the demographics and psychographics of their prime customer, the ones who generate 80% of the cash and income. You are always seeking to acquire more of them and will do whatever is economically feasible to turn those customers into lifetime repeat business.
Your Firm Usually - Engages the services of a competent financial planner, banker and accountant to work together in helping plan and develop a financial estate that can take care of the officers and key employees in their senior years
Your Firm Normally - Has or is developing a succession plan to sell or pass on the firm to future generations.
Your Firm Operates - As C-Corporation, LLC or Sub-S or Partnership.
The Owners Generally Earn - $100,000+ a year after all expenses
Your Bookkeeping Needs Are - Fairly complex and in most cases we handle all your bookkeeping using our Cloud Based Bookkeeping System and 24 Hour Bookkeepers including Pay Applications, Payroll Processing, Quarterly Reports for a surprising low cost. Business coaching is included at no additional charge along with access to The SnoKing Contractors Center.
There Is A Better Way To Run Your Construction Business And You Found It!
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, Construction Accountant, Intuit ProAdvisor and QuickBooks For Contractors Expert. 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.
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