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    Improving Client Relationships With CRM In The Construction Industry

    Posted by Sharie DeHart on Fri, Nov 15, 2019

    Many complex moving parts are involved in operating a profitable construction company, but at its core, business success hinges on just one thing: customer relationships. 
     
    This is why Customer Relationship Management software is vital for contractors who want to grow their business.
     
    A CRM solution helps your construction company nurture and improve client relationships by maintaining centralized data on all your leads and existing clients. With access to a history of customer transactions and communications, your team can make their next move with confidence while offering highly personalized customer service.
     
    Construction business owners know that to find a loyal client base, they have to stand out from their competitors. One of the best and easiest ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business. People think positively about companies that treat their customers and clients well. 
     
     
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    Topics: Contractor Challenges, Contractor, Contractor Tips, Contractor Operating Tips, Construction Productivity

    Inbox Productivity - Email Management For Your Construction Company

    Posted by Sharie DeHart on Fri, Nov 08, 2019

    Be honest: is email helping or harming your construction business?
     
    Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication - especially in the construction industry, where you have a team working on the field and in the office - on some levels, and freed up employee time at first. Now, however, email has become a productivity killer.
     
    Construction business owners and workers have to wade through hundreds of emails in their inbox each day. Many contractors working on-site, choose to deal with email as it comes in rather than all at once. This takes the focus off their work and makes it difficult to concentrate on their tasks.
     
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    Topics: Contractor Challenges, Contractor, Contractor Tips, Contractor Operating Tips, Construction Productivity

    10 Hidden Construction Contract Traps And How To Avoid Them

    Posted by Randal DeHart on Fri, Nov 01, 2019

    A new contractor meets an experienced customer, and money changes hands and not the way you expect it.
     
    Typically, this is what happens when you first get started: You bid on a project, and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the project that will cause you ever to have to reread the contract.
     
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    Topics: Construction Bookkeeping, Processes, Contractor Challenges, Contractor, contractor bookeeping services, Contractor Tips

    Construction Payment Issues Highlight Need for Accounting

    Posted by Jonny Finity on Tue, Oct 29, 2019

    Today's Guest Article Is From Jonny Finity

    In the construction industry, cash is the lifeblood of every business — and accountants are the heartbeat. They keep cash flowing to the parts of a project or business that need it most. A new survey report released this week from Levelset and TSheets by Quickbooks shines a light on why accounting for a construction business is far more complicated than most other industries. 

    The 2019 Construction Payment Report surveyed over 500 construction professionals to uncover current payment trends in construction, and we’re breaking down what this means for accountants in the industry. 

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    Topics: Construction Accounting, Contractors Accounting Office, Contractor, Contractor Operating Tips, payment issues

    Calculating Costs And The Value Of A Construction Bookkeeping System

    Posted by Randal DeHart on Fri, Oct 25, 2019

    Owning a construction business means you understand that bookkeeping is just one of those mundane, nasty, dirty, aggravating, grubby little chores you get stuck with along with its rotten scoundrel cousin the Monthly/Quarterly Tax Reports

    If you have employees - look out! On top of everything else you have payroll to process, in some cases, you may decide to provide cash advances to your employees to keep them focused on the job and not on personal issues, and finally there are all the Payroll Taxes you need to keep track of and file the reports for on a regular basis.

    Smart Contractors know their time is more valuable spent meeting prospective clients, putting together bids, managing job sites, and a whole lot of other things other than bookkeeping. So they find someone else to do it. 

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    Topics: Construction Bookkeeping, Processes, Contractor Challenges, Contractor, contractor bookeeping services, Contractor Tips

    What Your Construction Bookkeeper Needs To Generate Useful Reports

    Posted by Randal DeHart on Tue, Oct 22, 2019

    Owners of small construction companies like you are the men and women who keep everything moving in the right direction. When the economy changes, you quickly adapt because you are a survivor, not a large giant behemoth dinosaur unable to respond promptly and dies in its tracks.
     
    Most articles about Job Costing are for large contractors with dozens of employees, doing millions of dollars in sales every year. This article is not about them; it is about you!
     
    Job Costing links the money you spent on a job against the money you received to do a particular job.
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    Topics: Construction Bookkeeping, Processes, Contractor Challenges, Contractor, contractor bookeeping services, Contractor Tips

    Practical Procedures To Boost Your Construction Business Profitability

    Posted by Randal DeHart on Fri, Oct 18, 2019

    Cost is what you see; the profit potential is what you don't see.  High-profit construction company owner's focus on both and understand that "It Takes Money To Make Money."
     
    Strategy comes from the office. Fieldwork is vital - labor, material, and subcontractors get things built, maintained, and repaired; however, efficient operations and fast workers who give 110% cannot overcome lousy strategy. Office and field are separate but equal. Each skill-set requires different working styles and different cultures. It is your profession as the business owner to help everyone come together and understand each other's job and how it fits in the grand scheme of things.
     
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    Topics: Processes, Contractor Challenges, Contractor, Contractor Tips

    Why Track The Construction Company Owner's Time On Jobs

    Posted by Sharie DeHart on Tue, Oct 15, 2019

    As a construction company owner, you are getting paid, paying someone, or both. Contracting is all about money and taxes. With your job being not only physically demanding but also mentally draining, have you considered valuing your efforts? I understand how challenging it is for you to keep tabs on your employee's schedule, but make sure you also track yours.
     
    The primary reason to track Owner's Time On Jobs is to have a more accurate Job Costing Reports. You need to know how much money each job is making or losing. As an employer, you need to adopt the use of a time tracking software to assure accountability and improve productivity in the workplace.
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    Topics: Payroll Processing, Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips, Payroll For Construction Contractors

    Top Reasons Why Contractors Have A Hard Time Loaning From The Bank

    Posted by Randal DeHart on Fri, Oct 11, 2019

    Contractors want money; banks want to lend money, what's the problem?
     
    Think of all the times:
    • You loaned money to a friend or relative
    • Provided labor and material for somebody's home or business without a deposit check
    • Did change order work that you never got paid for doing and never will
    • Gave employees an advance on their paycheck that you never got paid back

    Multiply that by 100,000, and you will begin to understand why banks seem so tight-fisted about loaning money.
     

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    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Banking

    Accounting Software Tips When Starting A Small Construction Business

    Posted by Lilian Chifley on Tue, Oct 08, 2019

     

    Today's Guest Article Is From Lilian Chifley

    As a new construction business owner, keeping your financials in order should be one of your top priorities. Tracking revenues, checking profits, or carefully reviewing your expenses are all necessary steps to building a reliable and responsible financial record. If you have a staff, you will be increasingly tempted to delegate this task to your accounting department; in the end, it’s their job to keep the company well grounded.

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    Topics: Construction Accounting, QuickBooks Construction Accounting, Accounting Software,

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