454: The Treatment To Your Construction Bookkeeping Symptoms

01.14.2022 - By Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services

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This Podcast Is Episode Number 454, And It's About The Treatment To Your Construction Bookkeeping Symptoms Most contractors are skilled technicians who learned their tradecraft in an apprenticeship program taught by a Master Technician, experience, or combination of these methods.    There is a way to learn to operate your contracting company from a Master Contractor.   With time, they developed a Paradigm, Mindset, Understanding, whatever word makes the most sense to you about how construction companies operate based upon their experiences.   In their experience, production, getting work done is the most important part of the business because they always do as employees.    Since all learning is based upon connecting new things to things we already understand, most contractors fall into the trap of only doing what they know and not learning what they don't know.   Getting to own and operate a successful construction company is similar to understanding a construction trade. There are only two ways to do it. Self-taught and learning the ropes from someone who has already mastered the skill. Self-taught means making a lot of the same mistakes over and over, and it takes a long time. Learning from a master is much faster and allows the student to go beyond the teachings of the master and have even greater success. In the best-case scenario, the student becomes a master and then continues the relationship with their master as colleagues, and both people form what Napoleon Hill referred to as a Master Mind, and together the two of them become even more skilled than they would if they continued working independently. Taken to the next level, more masters are invited to become a part of the Master Mind Group, and the net result is the "Rising Tide Raises All Ships," and everyone achieves more individual wealth in money, friendships, and long-term relationships than anyone could have possibly imagined. We've been where you are now - owning and operating a construction company. We are also honored to become a part of a Master Mind group. That's why we understand successful Construction Company Owners share these similar traits: They have been through the fire of operating a tricky business, hiring staff, and making payroll They have high driver personality types with control issues They are impatient and want everything done not now but right now They are passionate about serving the right customers and clients They are committed to providing the best possible experience for their customers and clients They are committed to making their company the best it can be They are passionate about controlled and sustainable growth for their company They focus on their core business and outsource everything possible Now, Are You Experiencing Any Of These "Symptoms" In Your Company? Overwhelmed by construction accounting and bookkeeping Confused about how to enter transactions into QuickBooks or whatever accounting system you are using Anxious about Quarterly Payroll Tax Returns / Sales Tax Returns / Workers Comp Tax Returns Frustrated with your accountant because they do not understand how construction works Unsure about whether to hire a bookkeeper or a bookkeeping services firm Baffled by webinars for QuickBooks setup that don't apply to construction Confuse about payroll and dislike employee paperwork (you could be an employee of your company and don't know how to pay yourself) And then How to Systematize it all into a contracting company that runs smoothly without you having to make decisions and solve problems constantly If you answered a solid "Yes, I'm currently experiencing that" two or more times, as you reflected on the statements above, perhaps it's time to ask yourself these two questions: 1. Is there somebody else who can do this job better, faster, and cheaper than I can? 2. Am I saving a nickel (doing a mundane task) and spending a $5.00 bill (me doing something more productive)? It's the new year, excellent timing to stop figuring things out and start delegating your tasks while being cautious and proactive. Understand that the most invested person in your business is you as the construction company owner. It is by exception that the most dedicated employee will have the same intensity as you do about your business. The additional energy to "Get The Job Done" is yours because the company is yours. That's why we are here to help. Every year we make improvements to our business. We do not try to do it all because we help you depending on your company's needs. We could be that "somebody" for you. Instead of a quick band-aid solution, the treatment to your construction bookkeeping "symptoms" could be the clarity and insight you would get from a free consultation - take advantage by getting yours scheduled as soon as possible. (Technology is everywhere. Email is more excellent than faxing documents everywhere. On occasion, I will email a client late at night or early morning to be sure they know something before their day starts. I am a phone person, but I would never call or answer the phone during those odd hours) I am looking forward to chatting about how we can help you. About The Author: Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

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