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0130: Success Tips For New Contractor Startups
So You Are Starting A Construction Company! Congratulations you have taken a big step toward being the Master of Your Destiny!
Two Paths Open In Front Of You, One Leads To Pain And Misery (P.A.M.) and the other one Leads To Success And Happiness (M.A.P.)
P.A.M. = Production Accounting Marketing = Pain And Misery
“Failure In Construction Is A Few Simple Errors Repeated Every day” - Randalism
Production First
The Most Popular, hardest and least profitable way to operate a construction company.
They do what they have always done, put their tool bags on and go to work!
They think their overhead is low because they work from home.
They Don’t mark up materials or sub-contractors to save their customers money.
They believe hard work and low prices will make them wealthy; instead, they own a JOB.
Accounting Second
When Tax Forms and letters arrive from tax agencies, they think about bookkeeping.
They Bounce Checks, pay fees, change banks, repeat.
Bookkeeping death spiral. DIY Bookkeeping, get stuck, take QuickBooks class, hire Cheap Bookkeeper, lose sleep, get aggravated and finally outsource the accounting.
Marketing Last
When friends "Honey-Do-Projects" are done they wait for referrals, but the phone hardly rings.
When the phone rings, it’s someone looking for a cheap contractor who gives away extras!
M.A.P. = Marketing Accounting Production = Success And Happiness
“Success In Construction Is A Simple Disciplines Practiced Every day” - Randalism
The Least Popular yet the most profitable way to operate a construction company.
Marketing First
Stop, Look, Listen And Think And Understand the 80-20 Rule for Contractors
• 20% of your customers generate 80% of your profit
• 20% of the services contribute 80% of your revenue
• 20% of your staff create 80% of the value for your customers
Accounting Next
Outsource Your Contractors Accounting Services To someone who specializes in Construction Bookkeeping and Accounting. In most cases we save you 40% over an in-house bookkeeper with our Bookkeeping System.
We can guide you on which Financial reports paying attention to and why certain ones can make you more money than other ones.
Production Last
Now you a road map to success, go to work and make lots of money.
Listen to this Podcast for more…
If you are Thinking About Outsourcing Your Contractors Bookkeeping Services you are invited to download a guide to finding the right contractor bookkeeping service to fit your particular situation at www.FastEasyAccounting.com/hs
Call Sharie now 206-361-3950 or [email protected] and schedule your no charge one-hour consultation.
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By Randal DeHart, PMP, QPASo You Are Starting A Construction Company! Congratulations you have taken a big step toward being the Master of Your Destiny!
Two Paths Open In Front Of You, One Leads To Pain And Misery (P.A.M.) and the other one Leads To Success And Happiness (M.A.P.)
P.A.M. = Production Accounting Marketing = Pain And Misery
“Failure In Construction Is A Few Simple Errors Repeated Every day” - Randalism
Production First
The Most Popular, hardest and least profitable way to operate a construction company.
They do what they have always done, put their tool bags on and go to work!
They think their overhead is low because they work from home.
They Don’t mark up materials or sub-contractors to save their customers money.
They believe hard work and low prices will make them wealthy; instead, they own a JOB.
Accounting Second
When Tax Forms and letters arrive from tax agencies, they think about bookkeeping.
They Bounce Checks, pay fees, change banks, repeat.
Bookkeeping death spiral. DIY Bookkeeping, get stuck, take QuickBooks class, hire Cheap Bookkeeper, lose sleep, get aggravated and finally outsource the accounting.
Marketing Last
When friends "Honey-Do-Projects" are done they wait for referrals, but the phone hardly rings.
When the phone rings, it’s someone looking for a cheap contractor who gives away extras!
M.A.P. = Marketing Accounting Production = Success And Happiness
“Success In Construction Is A Simple Disciplines Practiced Every day” - Randalism
The Least Popular yet the most profitable way to operate a construction company.
Marketing First
Stop, Look, Listen And Think And Understand the 80-20 Rule for Contractors
• 20% of your customers generate 80% of your profit
• 20% of the services contribute 80% of your revenue
• 20% of your staff create 80% of the value for your customers
Accounting Next
Outsource Your Contractors Accounting Services To someone who specializes in Construction Bookkeeping and Accounting. In most cases we save you 40% over an in-house bookkeeper with our Bookkeeping System.
We can guide you on which Financial reports paying attention to and why certain ones can make you more money than other ones.
Production Last
Now you a road map to success, go to work and make lots of money.
Listen to this Podcast for more…
If you are Thinking About Outsourcing Your Contractors Bookkeeping Services you are invited to download a guide to finding the right contractor bookkeeping service to fit your particular situation at www.FastEasyAccounting.com/hs
Call Sharie now 206-361-3950 or [email protected] and schedule your no charge one-hour consultation.