This month the Monthly Mission was to calculate your break-even point to see if you are starting the year on solid ground. The break-even calculation creates some simple revenue goals, basically how much revenue is needed to cover your basic operating costs each...
Have you ever wanted a crystal ball? Haven’t we all! We especially wanted/needed a crystal ball when deciding on the financial direction to take our construction company. Even us CPAs needed help making business decisions…. especially job-related, sales-funnel...
During the shutdown there was a surge of interest in updating or changing accounting software. We get it: there was just a bit more time to contemplate life and what tech would make it better. However, new software is expensive and not just from the cash side. Many...
Getting a “no” answer from a bonding agent or surety is frustrating. And it seems counter-intuitive, because you need the work to make the profit that the surety wants you to have, but…they won’t give you the green light on the work you need to make the profit....
Make Life Easy, Steal this Cash Forecasting Template There’s been a lot of talk about cash forecasting recently. Whether it’s a 13-week look ahead or 8-week cash plan or calculating your “cash burn,” they all mean the same thing: How long will my cash last,...
What can you get ready to get done? I’m a sci-fi lover, but I didn’t think I’d be in one. And after just a few days of living in this sci-fi movie, I’m done. That’s it. I’m over it. The brain can only handle one emotion at a time. What emotion have we been running on?...
Receiving a collection call sucks. We've got 3 tricks to handle them. The last one’s the best. For most of us, making collection calls ranks near the top on the list of things we don’t like to do. However, being on the receiving end of collection calls sucks as...
Avoid This When Investing in Your Business A.K.A. How much do I have available to spend on assets? As a general rule, construction contractors like equipment. And why not? It builds the Balance Sheet, should increase profit and gives you an asset for the future. Now,...
Three Ridiculously Easy Ways to Increase Profitability in Your Construction Company Have you ever wanted the “easy button?” Who doesn’t?! If there was an easy button for running a construction contractor and turning a profit, we would have loved it. We never found...
Three Mistakes Construction Companies Make in Their Business Construction contractors are tough, resilient, and relentless at building a successful business. They are hard-working and committed to doing the right thing and rewarding their team. Construction...
My favorite holiday is New Years. I love it. I love the reflection and planning that comes with a new year. For the most part, I’m a, “God faces your forward for a reason” type person, but at year end, I do like a bit of reflection and review so that I know how to...
Have you ever put on lipstick to kiss a check? Well, I have. There were a few times that a check showed up from a beloved customer just the moment we needed it. During those times, I whipped out my lipstick and kissed the check and then ran it to the bank. In the...
We made a 7-Day Owner Financial training to help you become a financial ninja.
It’s got everything you need to learn in order to get a good grip on understanding your construction business.
Just click the button below to get started!