So many business owners just aren’t making the profits they should! The failure rate is shocking, but what’s even worse are the people who are working their lives away and earning so much less than what they should. On today’s episode, you’ll learn which jobs are making money, which jobs are losing money, and what to do about it.

What you’ll hear in this episode:

• How we can make more money: either sell more jobs or sell them for more money
• Why good job costing is essential for your business
• Diane’s elevator pitch: how she helps small and mid-size construction companies customize their internal accounting systems and run their companies more profitably
• Why most contractors think of numbers negatively
• How job costing allows you to see which jobs are winners, which are losers, and which are in the middle
• How job costing helps narrow your focus on profitable jobs
• How a “post mortem” helps you evaluate the estimate vs. the actual for each job
• How Diane got into work with construction companies and job costing
• The biggest problem when you don’t do job costing:
  • You are working “in the dark”
  • You don’t know where you stand financially
  • You may sell at lower prices (and sink the ship!)
  
  
• How job costing is part of the system to give you historical information and help make projections about the future
• How to track details on phases of different jobs
• The pros and cons of Quickbooks online
• Why you don’t have to be an accountant to use job costing
• Who can do your job costing for you
• The three phases of a good accounting system: good structure, training, and proofing/balancing
• Diane explains “the speed--accuracy--control continuum”
• Why any company doing project-oriented work should be doing job costing
• How job costing provides a feedback loop

Resources:

Get Diane’s free book: A Tale of Four Companies

Check out Diane’s website for free resources, blog articles, videos, and support tools

Find Diane’s blog article, The Many Faces of Construction Job Costing at

Accounting for the Numberphobic by Dawn Fotopulos

The Roofer Show Episode #48

The Roofer Show Episode #77

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