If You Want To Profit Massively From Riding The Economic Crests Read On...
Our First Construction Business - In the early 1970's it became painfully obvious there were signs the more experienced construction business owners could read and interpret that I couldn't. They were easy to spot because they were the happy contractors in a sea of blue faces.
I Asked Several Of Them - What was their secret and got several answers back. Here is a sample of some of the best and most profound answers that in time proved to be extremely valuable:
When The Student Is Ready The teacher Appears (O.K. I'm ready!)
If You Know The Answers The Questions Will Not Bother You (Really is that all?)
Are You Watching The Truck Ads On T.V. And Newspaper? (Trucks? I Need Answers!)
Open Your Mind And See What Other Contractors Are Missing (I am the other contractor!)
Know The Difference Between Strategy And Tactics? (Yes, Of Course! Wait My Pager Is Beeping)
Have You Ordered Pizza Lately And Observed The Mannerisms And Vocabulary Of The Driver? (I Give Up!)
Have You Seen The Inventory Levels At The Building Supply Warehouses? (Are You nuts? Who has time for that?)
Develop A Business Plan With Milestones And Strategic Objectives To Benchmark Against (Finally, something I Have)
Answers Not Riddles - At the time it seemed all I got was riddles when what I needed was actionable intelligence that could be implemented in our current Strategic Business Plan not now; but right now!
As It Turned Out - I had all the answers I needed, I just was not ready for them. See the first answer and you will understand.
We Had A Strategic Business Plan - Carefully documented in several three ring binders, handwritten by a scribe working under now existent incandescent light bulbs. Imagine the guy below with blonde hair and horn rimmed glasses.
It Took A Few Years - For the answers I had been seeking to reveal themselves I had to follow Ralph Waldo Emerson's advice: "Get your bloated nothingness out of the way of the divine circuits.” All of the answers listed above and hundreds more like them in my script books contain a lot of insights you simply need to see what is not there.
Example #1 - When you see an increase or decrease in the quantity and quality of pickup truck advertisements on T.V. and newspaper it could mean the manufacturers who have the resources to spend millions of dollars on market research know the construction market is turning up or down.
Example #2 - Take your material supplier sales representative to lunch and ask for a tour of the warehouse. It is not rocket science to see when inventory levels are up or down to know the state of the construction market.
Example #3 - Believe it or not, when construction slows down a percentage of contractors will take jobs in food services and in many cases those that involve driving like pizza delivery. Does the pizza delivery person have callouses on their hands? Do they look you straight in the eye? Do they appear to be awake and alert? I suggest construction is down. When you see them disappear I suggest construction is on the way up.
The Most Valuable Answer - Came in the form of a question: "What does your business coach say?" I answered not much, we talk all the time, and in fact I saw him in the mirror just this morning.
Obviously I Understood - The point and knew it was time to get a coach. Over the years I have engaged a variety of coaches, some good, some astoundingly awful and a few very exceptional ones.
Why Do I Need A Business Coach? - Is what a lot of contractors have asked us over the years and I would use piles of statistics, reach deep into my mental archives and bring out an example or a story that I could use to relate to the contractor the value of coaching.
We Stopped Doing That - And took a lesson from Stephen Covey "Seek first to understand and then to be understood."
Coaching Is Not For Everybody - Neither is being a construction accountant or an astronaut or a Physicist.
This Short Video - Says more about the value of having a business coach in 41 seconds than I can in an hour and may help you decide if coaching is right for you.
Using What You Learned - From some of the information above you can decide for yourself if construction is picking up and take steps to get your Business Process Management System in place and begin developing your Business Strategy to Optimize not Maximize. That is a very important concept; race cars maximize and burn out quick, family sedans go for the long haul.
If You Decide Construction - Is picking up and you want to know look at some options to find out how we can help you map out an expansion path please contact Sharie at 206-361-3950 or by email firstname.lastname@example.org
You Do Not Need - To have a business in place yet to talk to us and get an idea of the ways we can help. If this is you we have a special link with more information here New Contractors Start Here
If This Is Your First Visit - To Fast Easy Accounting we invite you to browser around, bookmark your favorite pages, come and go as you please and make yourself at home because everyone is welcome here.
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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.