Cost Is What You See - Profit potential is what you don't see. High profit construction company owner's focus on both and understand it "Takes Money To Make Money".
Highly Profitable Companies - Focus on how high is up? Google, Microsoft, Apple, Mitsubishi and Toyota all put tremendous energy into growing profits by focusing on their core competencies and outsourcing as much as possible. Not trying to cut costs by having the CEO do every menial tasks including cleaning the restrooms until they can afford to hire someone else to do it.
#1 Get Rid Of Paperwork - All it does is slow your down and the more construction projects you win the more paperwork you will have to deal with. This can be done with outsourcing your contractors bookkeeping services to someone like us with accounting systems in place to give you all of the benefits of fully staffed construction accounting department at a fraction of the price and none of the bad bookkeeper drama.
#2 Examine All Your Processes - Take a long hard look at your construction company and list all of the recent mistakes, warranty work, rework and time wasters. Then develop a project plan to eliminate them, one at a time.
#3 Excess Inventory - Empty your trucks and vans, clean out the dirt and grim and when you restock see how much you can leave out. This one thing can have a massive impact on cash flow and profits. If you can increase your miles per gallon of fuel from 10 to 12, you will have increased your profits from fuel savings by 20%. Let's run the numbers:
These three things are simple, but not easy because they require you to think and take action. One thing is for certain, I sincerely believe you are someone who can BE the contractor that really understands the Cost of Chaos and you can DO the hard work of developing and implementing Business Process Management Strategies and you can HAVE a highly profitable construction company.
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.
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.
About The Author:
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+