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Essential Bookkeeping Practices For Construction Start-Ups

Posted by Sharie DeHart on Fri, Oct 27, 2023

Starting a new construction business is exciting but has its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It's not just about keeping things tidy; it's about understanding the financial health of your business and meeting all your tax obligations.
 
Don't underestimate the basics
 
Some small businesses continue to rely on traditional systems, like pen, paper, and a trusty shoebox. Although it may seem outdated, this method can work well for businesses with few transactions. These businesses might not have the latest payment technology and could be invoicing customers or receiving immediate cash or cheque payments. In such cases, they must maintain a record of all receipts, past, present, and future jobs, and a log of their customers and transactions.
 
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Topics: Restarting Contractors, Start Construction Company, Growth Coach, Contractor Startup, Construction Company Startup Tips, Grow Your Construction Business

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

We Reduce Construction Company Start Up Stress

Posted by Randal DeHart on Fri, Jan 02, 2015

We Are QuickBooks Experts Specializing In Construction 

New Contractor's Have horrendous Levels of Stress

Did You Quit Your Job - And start your own construction company only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money? Now that can be stressful!

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Topics: Start Construction Company, Contractor Startup

Starting Profitable Construction Company Unique Secrets Revealed

Posted by Randal DeHart on Fri, Oct 04, 2013

Starting Or Re-Starting A Construction Company Is Easy

If You Know Exactly What To Do

 

 
 
 
 
 
 
 
 

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. (Just Over Broke) into a real company with employees who actually generated more money than they cost.

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Topics: Start Construction Company

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