If you stock your truck with every tool and load it to the sky with all the parts and inventory you think you may need and drive hard and fast, you are maximizing that resource, and that is not a good thing.
Benefit - Hopefully, fewer trips to the supply house, Lowes, Home Depot, or other places which will save you a little bit of time and money.
Costs - You will end up spending more money for each mile you drive because you use more fuel, your brakes will wear out faster from having to stop with more weight. Your tires will wear down quicker, and your vehicle suspension parts will need to be replaced sooner rather than later. You will have money that is tied up in tools, equipment, and inventory that could be invested elsewhere and make more money for you. Even worse, if you have any credit card debt or loans, that money could be used to pay them down and reduce your interest expense.
Risks - If you get involved in a traffic collision and the investigation reveals that you have exceeded the Gross Vehicle Weight Rating (GVWR) of your truck or van, then it is likely your insurance may not cover the damages. Besides, you may be liable for negligence charges. We recommend you contact your insurance agent and your attorney for their advice.
- Acquiring the right clients
- Doing the project as close to on-time and on-budget as possible
- Get job deposits and timely progress payments
- Follow-up with clients to monitor satisfaction and line up new projects
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 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 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.
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