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    Reasons Why Contractor Startups Fail And How To Avoid Them

    Posted by Sharie DeHart on Fri, Jul 08, 2022

    Many surveys and reports show that nearly half of all new construction companies close their doors within the first five years of opening them. When we speak with contractors who failed, most say it was due to a lack of cash flow. It was pretty obvious, yet when questioned, all of them said they were "Blind-Sided" and were not aware they were running out of cash until it was too late.
     
    There is a point when a contracting company starts to fail, and nothing short of a massive cash infusion can stop it, and a domino effect begins, which is when a series of similar or related events occur as a direct and inevitable result of one initial event.
     
    Planning is essential to give your business the best chances for success. Planning means anticipating challenges and developing ways to successfully address them, so they don't upset your startup. 
     
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    Topics: New Contractors, Start Construction Company, Profit and Growth Strategies For Contractors, New Business Startup, New Business, Contractor Guidance, Construction Business Goals

    General Contractor Business Cycle - TIP #4 - Success

    Posted by Sharie DeHart on Tue, Oct 25, 2011

    How To Get Started Right – TIPS

    S = Success

    Success Is What We Are All Striving For! Each person has their own definition of what success is.  For some it is to buy a new vehicle, some want to take a long vacation and others want to buy a bigger / smaller house.  These are all things that someone “Outside Looking In” sees.  Each person picks their own goals. 

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    Topics: Systems And Processes, New Business

    General Contractor Business Cycle - TIP #3 - Payroll

    Posted by Sharie DeHart on Wed, Oct 12, 2011

    How To Get Started Right – TIPS

    P = Payroll

    Now I Have Tons of Work Rolling In and I’m Ready to Hire My FIRST Employee! I have found the perfect person - My friend!  We been buddies for a long time and we are going to have a Blast working together.  Here’s where I immediately think of the robot in  “Lost In Space” saying “Warning Will Robinson”. 

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    Topics: Systems And Processes, General Contractor, New Business

    General Contractor Business Cycle - TIP #2 - lncome

    Posted by Sharie DeHart on Tue, Oct 04, 2011

    How To Get Started Right – TIPS

    I = Income

    We are not in business without Customers.  Our New Customers become Existing Customers.  Once the job is completed (last month / last year) they become our Previous Customers.

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    Topics: Bookkeeping Services, General Contractor, New Business

    QuickBooks Setup And Chart of Accounts For DIY Contractors
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