This is a bit off topic for construction accounting; however, it may be of value to you as a contractor to know that every contractor has challenges and the more successful you become the more challenges and "Character Building Moments" you will have.

This is a true story and it happened to me back in the late 1990's while owning and operating a small Plumbing Service and Repair company with 27 employees and 7 trucks....it is funny now....but not at the time...

When your construction company reaches a size where you cannot do everything yourself it is time to think about Key Person insurance. In the event of your death, it will give your heirs a fighting chance to continue the construction company you started or if they choose the time, money and resources to make it attractive to a buyer.

I had reached a point where I needed to increase my Key Person insurance policy because our construction firm was doing very well. This meant the insurance carrier sent a doctor to my office to perform a quick physical examination, check my vital signs and take some samples....you know what I mean...

The doctor apparently had never been inside the office / warehouse space of a construction company before so he got quite an education and not one he was prepared to receive that day. I instructed my office manager that I was not to be disturbed unless there was an earth-shaking emergency....which there always are!

Interruption #1 - Just as the doctor was ready to take my blood pressure one of the warehouse employees borrowed the keys to my pickup truck to move it out of the way and slammed into a semi-truck. The semi was unhurt; but my pickup and the warehouse guy sustained some damage. The warehouse guy's injuries were not life threatening so the doctor conducting my exam let one of the other employees take him to get medical treatment.

Interruption #2 - Ten minutes later one of the new technicians was bored and thought it would be a good idea to glue some green plastic AstroTurf on the top of a brand new $40,000 piece of equipment to help dress it up. He was roughly 200LBS and did not listen to anyone smaller than himself. The 150LB warehouse employee who was restocking the vans tried to stop him with no success and decided the office manager should help. She panicked and burst into my office. I was and still am roughly 275LB and I told the doctor I needed to deal with this issue. 

Interruption #3 - Ten minutes later a former employee who had been discharged a few days before had just spent the morning getting good and liquored up and arrived at our office with a weapon intent on either getting his job back or committing an act of workplace violence. I was interrupted yet again, of course, and diffused that situation with a bit of rough persuasion and sent him down the road....very unhappy....but wiser!

After the third interruption, the doctor decided to check my blood pressure one more time and he remarked how my blood pressure did not rise during all of the chaos. I just told him "It's just another day at the office..."

I have hundreds of stories of "Character Building Moments" like these as you do too. Construction is a rough and tumble world and I love it! I hope that you do too! If you have, some "Character Building Moments" please leave a comment below and perhaps if you are interested I could interview you for our Construction Success Map Podcast.

For a great example of someone whom i deeply admire and respect please, listen to the two Podcasts where I interview Sean Kavanaugh. He was a plumbing contractor and his story will keep you on the edge of your seat! 

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. 

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 

Business Process Management (BPM) For Contractors

Need Help Now?

Call Sharie 206-361-3950

sharie@fasteasyaccounting.com

Xero Outsourced Construction Accounting Services

QuickBooks Outsourced Construction Bookkeeping Services

We Are Xero Accounting Experts Specializing In Construction Bookkeeping Services