Our New eBook is out! More than 15 pages filled with Marketing, Accounting, and Production tips, checklists, and best practices that you can use year-round for your construction business success.
Free Download here.

FEA Randal And Train
Call Us At 1-800-361-1770
Bookkeeping Trial Test Drive
Outsourced Accounting
Contractor Bookkeeping Templates For QuickBooks And Xero
Construction Accounting Academy
  • There are no suggestions because the search field is empty.

The Problem With High-Profit Jobs In The Construction Industry

Posted by Sharie DeHart on Fri, Apr 21, 2023

Many problems can be traced back to the "Halo Effect," which happens when a contractor thinks, "We are so good at (fill in the blank) we should expand into (fill in the blank)."

The most common situation is when a residential remodel contractor with a reputation and a substantial company generating 15% or more profits decides to start building custom homes. Or the opposite, a home builder who decides to branch out into residential remodeling.

Residential Remodel Contractor Building A Home

The processes, tools, equipment, materials, skills, and invoicing procedures required to build a house from the ground up differ entirely from modifying a home with people living there.
 
Read More

Topics: High Profit Construction Projects, High Return On Investment, Clients or Customers, Boost Construction Profitability

How To Weigh ROI Vs. Cost When Making a Business Purchase

Posted by Sharie DeHart on Fri, Mar 31, 2023

Deciding to purchase something to help your construction business is a big decision. It can be challenging to part with hard-earned money, especially in the early days. To understand the right time to invest by purchasing something for your business, you must calculate whether the Return on Investment (ROI) would be profitable.

The cost is the money you spend making the purchase plus any indirect costs (such as training costs) related to the purchase. The ROI is a calculation of financial gains or benefits that you obtain due to that cost.

To determine ROI profitability, there is a simple formula you can use. If the purchase yields a positive return, it can be considered profitable. However, if the purchase does not earn back the money it costs, it would be considered a negative return on investment. 
 
Read More

Topics: High Return On Investment, Clients or Customers, Contractor Tips, ROI for Contractors

Construction Business Growth Through Networking And Having A Mentor

Posted by Sharie DeHart on Fri, Mar 24, 2023

Most business owners receive plenty of well-intentioned advice and 'helpful opinion' from family and friends. However, good business advice spoken from commercial experience is another matter entirely.

That's not to say it's hard to find, but finding a reputable source in the Internet age is sometimes less than straightforward – especially if you have a specific problem to solve and limited time.

This is why, for good times or bad, developing a network of peers or seeking out a business mentor can be a great idea.
 
Read More

Topics: High Profit Repeat Construction Clients, Construction Accountant Who Listens, Clients or Customers, Contractor Tips

How To Attract Profitable Construction Clients

Posted by Sharie DeHart on Fri, Mar 10, 2023

A USP (Unique Selling Proposition) is a compelling reason for your target market to choose your construction business over your competitor's. Examples range from cutting-edge service and product features to simply being more convenient and easier to find for the target market.
 
But it all boils down to meeting your local market's needs in a more accurate and improved way than the competition and being able to market these points more effectively.
 
By doing this, your business can stand out in the marketplace with a strong reputation attracting more clients.
 
Read More

Topics: High Profit Repeat Construction Clients, Construction Accountant Who Listens, Clients or Customers, Contractor Tips

How To Grow Your Construction Network Without In-Person Events

Posted by Sharie DeHart on Fri, Aug 28, 2020

Networking can be a crucial way to keep your construction business growing.
Read More

Topics: Networking, Clients or Customers, Contractor, Contractor Tips, Contractor Operating Tips

Troublesome Customers Every Contractor Should Learn To Recognize And Deal With

Posted by Sharie DeHart on Fri, Jul 24, 2020

Customers are disloyal price buyers who purchase commodities and services with cost as their primary consideration. Clients are loyal value buyers who purchase goods and services with suitability as their primary consideration.
 
Every businessperson knows that customers and clients are not created equal. Clients are loyal, while customers will stray if they're offered a slightly lower price elsewhere. Some customers are demanding, while clients only call when they wish to hire you right away.
 
Every business must deal with a variety of customers and clients. But there are certain types of customers who do more harm than good to your construction business - they drain your resources while adding little to your revenue. 
 
 
Read More

Topics: Construction Accounting, Clients or Customers, Customers, Contractor, Contractor Tips, Contractor Operating Tips

Do You Want Customers Or Clients For Your Construction Business?

Posted by Randal DeHart on Fri, Jun 01, 2012

Customers - Are disloyal price buyers who purchase commodities and services with cost as their primary consideration.

Read More

Topics: Clients or Customers, Customers Vs. Clients, Customers, Clients

QuickBooks Setup And Chart of Accounts For DIY Contractors
Download Our Free App For Construction Contractors

click to download the Contractors APP now from the App Storeclick to download the Contractors APP now from the Android store

Access Code: FEAHEROS

accounting articles

Subscribe by Email

How Can We Help?

 
Contractors Bookkeeping And Accounting Services

Who We Help

How We Help

Next Step

FAQ's

Contractors Bookkeeping And Accounting Services

Outsourced Construction Accounting Services For Contractors All Across The U.S.A. By Fast Easy Accounting 206-361-3950

Serving Construction Contractors
Across The U.S.A
Including Alaska
And Hawaii

Podcast On iTunes
 
Click Here To Listen In iTunes
Contractor  Success M.A.P.
Contractors Bookkeeping And Accounting Services

Remote Access Your QuickBooks  Using Secure Servers

Outsourced Bookkeeping Services For Contractors At Fast Easy Accounting

Highly Recommended by Locals On Alignable

Most Popular Posts

Read the Latest:

Browse by Tag

badge

Blog Suggestion Box

We Remove Contractor's Unique Paperwork Frustrations

Quickbooks certified proadvisor

Xero-Accounting-Services-Fast-Easy-Accounting

Financial-Intelligence-And-Performance-Reporting-Tool-Fast-Easy-Accounting Hubdoc-Document-Collection-and-Management-System MBA Member Fast Easy Accounting 206-361-3950
 
contractor-success-map-podcast-listen
 
Don't forget, you can hire our services at FastEasyAccounting.com
 
 
How To Use Our Services