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    How Contractors Can Leverage The Business Cycle To Your Advantage

    Posted by Randal DeHart on Mon, Jun 04, 2012

    The Business Cycle Can Be Deadly To Construction Companies!

    The Business Cycle - Operates like an ocean with waves and it is somewhat predictable if you know what to look for and plan accordingly. 

    Businessman hand drawing increasing graph on media screen

    This causes a lot of construction companies to go out of business in a year two because they grew too fast without solid financial reporting tools and someone like you to guide them to understand what they mean.

    As you may know, there is an expansion and contraction Isoquant that occurs in all businesses. For construction companies it is accelerated because of the enormous risks in project work due to the changes in demand for Labor, Material, Other Costs, Subcontractors can occur almost overnight which often causes a financial death spiral and the contractor does not know they are in trouble before it is too late.

    Construction accounting is different than regular accounting because of the confusion between Costs of Goods Sold and Expenses, and that is one of the big issues here. Also billing and invoicing is a bit more complicated because the sales are not usually one receipt or invoice.

    The first step is sign up for the $79.95 Contractor Bookkeeping Review Click Here and add me to the user list of any third party software like WorkFlowMAX, Co-construct, Builder Trend or other software so I can review how it is set up. I will not make any changes to any online construction software, I need to take a holistic approach to how your accounting software and any construction software are integrated.The $79.95 review includes 36 point PDF file and a 30-minute consultation which will give us enough time to diagnose the issues thoroughly.  

    First Put Together - A clearly defined and documented Business Strategy which will you will know what steps to take and when to take them. When you know the answers the questions will not bother you! Just like when you took a test in school in your favorite subject; it was fast and easy!

    When The Economy Is Expanding - Demand for construction balloons rapidly and almost overnight construction companies phones are ringing off the hook as demand outstrips supply because so many contractors gave up and left the industry.

    Unseasoned Hungry Contractors - Try to seize the opportunity to grow their businesses rapidly and haphazardly by bidding on any project that is given to them. This end up winning a large share of projects without giving any thought to calculating their company Expansion Path Isoquants, infrastructure, logistical support, working capital requirements, The 80 20 Rule For Construction Businesses, Job Costs, Key Performance Indicators (KPI).

    Fast Easy Accounting Recommends Understanding Expansion Isoquants

    Tangible Vs. Intangible - When the Tangible world of things that can be seen, smelled, touched, tasted and felt (Tangible) is given disproportionally more value than the intangible things which cannot be experienced in the physical world like bookkeeping, taxes, payroll, cash flow, bank balances, job costing, job profitability the business in heading for trouble. 

    The Inevitable Chaos - Caused by too much work and not enough resources like Labor, Material, Other costs and Subcontractors (LMOS) leads to the contractor becoming a pipe through which money flows with increasing velocity, and not in a fun way!

    Unfortunately Many Contractors - Become victims of their own success and discover too late the value of the intangible needs of the company. It usually starts with one of the following phrases:

    1. I can't be out of money; I have plenty of blank checks in my wallet!

    2. The #$!^&$# material supplier put our account on cash in advance basis!

    3. Your payroll check bounced and you're at the pawn shop selling company power tools?

    4. What do you mean the customer with the champagne diet is on a beer income and out of money?

    5. The big remodel customer is upset about the project delays he caused with his change orders and now he refuses to pay the final payment, including change orders because he said he never signed any change orders?

    Proactive Construction Companies- Who invested time and money getting their Business Process Management systems in place use The 80 20 Rule to grab a nice big thick slice of Market Share Pie and laugh all the way to the bank!

    Fast Easy Accounting Helps Construction Companies Build Market Share And Profits

    Contractors Can Break Free - Of the limiting thought patterns. The ones that keep you on the emotional roller coaster of when business is going poorly it will never get better and when business is going great go buy yourself a new pickup truck.

    Get Your Business Process Management System - In place now! Dig your well before you are thirsty and you will be glad you did!

    We can help: Call Sharie 206-361-3950 or email her sharie@fasteasyaccounting.com to get started right away!

    We Remove Contractor's Unique Paperwork Frustrations

    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 all across the USA including Alaska and Hawaii 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 so stop missing out! Call Sharie 206-361-3950 or sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation.

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    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 Services by accountants who understand construction.

    Our Contractor Bookkeeping Services System Is A System

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    Thinking About Outsourcing Your Contractors Bookkeeping Services To Save Time And Money?

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    Need Help Now?

    Call Sharie 206-361-3950

    sharie@fasteasyaccounting.com

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    About The Author:

    Randal DeHart, PMP, QPA The Construction Accountant 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. 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. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+

    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. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+ 


    PS: For The Do-It-Yourself Construction Bookkeeper Our Store Has Chock-Full Of QuickBooks Setup Templates, QuickBooks Chart of Accounts And More.

    Assisted-Do-It-Yourself-Construction-Accounting-Buy-Custom-Built-QuickBooks-Setups-For-Construction-Contractors.png

    Most Contractors Setup QuickBooks Desktop Version In One Of Three Ways:

    #1 EZ Step Interview inside QuickBooks Setup
    #2 Asked Their Tax Accountant To Setup QuickBooks
    #3 They Attended A How To Setup QuickBooks Class Or Seminar

    And QuickBooks Does Not Work The Way They Want It Too!

    The Answer:

    #1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company

    #2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company

     Do-It-Yourself QuickBooks Setup

    Topics: The Business Cycle

    QuickBooks Setup And Chart of Accounts For DIY Contractors
    Download Our Free App For Construction Contractors

    click to download the Contractors APP now from the App Storeclick to download the Contractors APP now from the Android store

    Access Code: FEAHEROS

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