It has been a long tough recession and contractors have endured the worst of it. According to leading publications like National Association of Home Builders, American Institute of Architects, McGraw Hill Construction and others 2015 is expected to be a good year for contractors.
Are you ready to ride the wave good times and are you positioned to take optimum advantage of the economic profits that will be ripe for the picking or will you hit the snooze button until it is too late and say, "I should have been better prepared!"
If you do not have your systems in place, I encourage you to start now and the best place to begin is understanding and implementing The Contractors Success M.A.P. If you need help with this please contact Sharie 206-361-3950 or email her firstname.lastname@example.org
M.A.P. = Marketing Accounting Production
“Success In Construction Is A Simple Disciplines Practiced Everyday” - Randalism
This Is The Least Popular - and yet the most profitable way to operate a construction company. Contractors thinking and acting like a business person.
Stop, Look, Listen And Think - Understand the impact of the 80-20 Rule for contractors
20% of your customers normally generate 80% of your net profit.
20% of the goods or services you sell contribute 80% of your revenue
20% or 2 out of 10 of your staff create 80% of the value for your customers.
The frightening consequence of the 80/20 rule is that 8 out of 10 hours we spend at work drive almost no value to the bottom line and the biggest drain is trying to save money doing our own contractor bookkeeping services instead of reviewing the Key Performance Indicator (KPI) Reports. Especially now when they can be accessed 24/7 without opening QuickBooks for Contractors.
The most important value good contractor bookkeeping services can bring your construction company is an understanding of where your 20% most profitable clients are and they are rarely who you think they are. They are found inside the job costing reports including the job profitability reports.
By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work.
This is the great contribution a company receives from good QuickBooks® data and from using QuickBooks® the ‘right-way’.
What are you good at and what do they love to pay you money to do for them? What jobs have you done that made a positive difference in people lives? What projects did you have so much fun doing that time seemed to fly by?
Take the information - Outlined above and write a story to describe the people you enjoy working for because they are your "Prime Customers" and they are your target market.
Document - The demographic and psychographic profiles of the people you enjoy working for and why.
Develop Your Business Plan - Using the Eleven Step Program and pay close attention to the marketing section because that is where you will decide what niche of the construction market you will dominate.
Know that in time your company will become legendary to such a degree you clients will be raving fans and referrals will be part of your marketing strategy. Nordstrom has been very successful at this and it would be wise to learn from the leaders.
Outsource Your Contractors Accounting Services - To a firm that specializes in Construction Bookkeeping and Accounting because it is a chore for you and in most cases we can do the job for much less than an in-house bookkeeper because we have a system.
But Wait There's More- We have remote servers which means you can have 24/7 access to yourQuickBooks desktop version
Learn To Read Your Financial Reports - We can guide you on which reports to pay attention too and why certain reports can make you more money than other ones. Learn More about the KPI Reports Here
The Final Stage - To launching your successful construction firm. This is where all your hard work pays off. At this point you have some basic operation manuals in place for your field and office employees. It is the document that answers the same questions you will be asked 100's of times. It is the Wikipedia of your company. "This is Who We Are And This Is How Things Are Done Here".
Now You Have - A road map to success and all you have left is to assemble the tools, equipment, employees and setup your trucks and/or vans and go to work!
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 email@example.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.
Our Contractor Bookkeeping Services System Is A System
Thinking About Outsourcing Your Contractors Bookkeeping Services To Save Time And Money?
Click On The Button Below To Download A Free Guide
Need Help Now?
Call Sharie 206-361-3950
We Are Xero Accounting Experts 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, 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+