A busy schedule, strong sales, and money in the bank can all feel like signs that your construction business is doing well. But none of those things, by themselves, tell you whether the business is actually profitable. Use this checklist to review the financial...
Some types of work can keep your company extremely busy. The phone keeps ringing. Crews stay scheduled. Revenue keeps coming in. You may perform the same kind of work over and over because customers continue asking for it. That can make the service feel like an...
Your biggest customer may feel like your best customer. They may give you a steady stream of projects. They may represent a large percentage of your annual revenue. Their name may appear on your schedule more often than anyone else’s. But revenue alone does not...
Not every job that performs poorly is a type of work you should stop taking. A construction project can miss its expected profit for many reasons. The estimate may have been wrong. Labor may have taken longer than expected. Material costs may have increased. Change...
Your accounting system can give you hundreds of numbers. That does not mean you should monitor hundreds of numbers every month. Revenue, profit, cash, receivables, job costs, estimated costs, actual costs, Work in Progress, liabilities, margins, and dozens of other...
