Optimizing Vs. Maximizing Your Construction Company
The First Place - To start is to understand how the 80/20 Rule applies to your construction business.
Some Construction Company - Owners feel that all staff members from the laborers to the Project Managers need to hustle and run everywhere and if they are giving less than 110% to the job they are not doing enough.
Some Contractors - Like to make sure everybody knows they can be replaced at any time day or night which makes people uncomfortable and likely to search for another job elsewhere. If someone spends just ten minutes a day on your payroll click here to see what it could be costing you!
When Contractors - Treat their tax preparer, banker, construction accountant, suppliers, construction attorney, financial planner (what should have been his Board of Advisors) vendors, bookkeeper and everyone they come in contact with like an enemy they are likely to lose money due to bookkeeping errors, slow service and general lost time.
If Your Profits - Averaged over the past five years are less than 10% you may want to fill out the form and meet with us for a no-charge consultation. In addition you may want to look at the Business Strategy Program.
We Have Hundreds - Of fast, easy and safe ways that can increase your company profits and put more money in the bank to operate and grow your business. It is all about having a Strategy That Works!
Maximize
If You Stock Your Truck - With every tool you think you may need and loading it to the sky with all the parts and inventory you think you may need and drive hard and fast you are maximizing that resource and that is not a good thing.
Benefit - Hopefully fewer trips to the supply house, Lowes, Home depot or other places which will save you a little bit of time and money.
Costs - You will end up spending more money for each mile you drive because you use more fuel, your brakes will wear out faster from having to stop with more weight. Your tires will wear down quicker and your vehicle suspension parts will need to be replaced sooner rather than later. You will have money that is tied up in tools, equipment and inventory that could be invested elsewhere and make more money for you. Even worse, if you have any credit card debt or loans that money could be used to pay them down and reduce your interest expense.
Risks - If you involved in a traffic collision and the investigation reveals that you have exceeded the Gross Vehicle Weight Rating (GVWR) of your truck or van then it is likely your insurance may not cover the damages. In addition you may be liable for negligence charges. We recommend you contact your insurance agent and your attorney for their advice.
Optimize
Stock Your Truck - Wisely by having a strategy that serves a niche market and uses the 80/20 Rule and you will not need so many tools, parts and equipment. Another money saving tip is to only keep the items on board that are used every week to reduce your GVWR and save money on every mile you drive.
Benefit - There is no money in chaos. By keeping your organized and serving a niche market means fewer visits to your supplier which will save you even more time and money. Saving time and money by not having to hunt for something in your truck will add even more profits to your bottom line. When you understand What Ten Minutes Cost Your Company and develop your Business Strategy your profits will grow and be flying high like an eagle!
There A Better Way To Run Your Construction Business And You Found It!
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