A business owner told me recently, “We finally hit our revenue goal, so I think we’re ready to hire.” That was the entire reasoning behind the decision. Not whether the work had become more profitable. Not whether margins had improved. Not whether the increase was consistent or tied to one unusually strong stretch of business. […]
Tag Archives: profits
30
Jun
Jun
You look at your reports and see that the business made money. Sales are up. Work is getting done. But at the same time, the bank account feels lower than expected. Bills need to be paid. Payroll is around the corner. You start wondering how both things can be true at once. It usually comes […]
16
Dec
Dec
When you’re running a service-based business, such as a construction company, understanding your numbers isn’t just about paying taxes; it’s also about managing your finances effectively. It’s about unlocking clarity, making better decisions, and building a business that’s as strong behind the scenes as it is in front of customers. One of the most important […]
25
Nov
Nov
Whether you’re a solo contractor or managing a full construction crew, a clear and professional construction proposal is one of the most important tools in your toolbox. It sets expectations, outlines costs, and helps protect both you and your client from misunderstandings once the work begins. Here’s a breakdown of what to include so your […]
30
Sep
Sep
If you’re managing your business books in QuickBooks Online (QBO), you’ve probably come across two ways to record income: Entering payments through the “Receive Payment” function Entering a bank deposit directly into your checking account While both might seem like they get you to the same place, using the Undeposited Funds account will help keep […]
02
Sep
Sep
If you’re a custom home builder or contractor, you’ve probably heard your bookkeeper or CPA mention “cash basis” and “accrual basis” accounting. If your eyes glazed over at that moment, don’t worry, you’re not alone. Let’s break it down in plain English, using real examples from the construction world. Understanding the difference can help you […]
Bookkeeping, Cash Flow, Construction
Mastering Change Orders: Five Best Practices for Custom Home Builders
22
Jul
Jul
In the world of custom home building, change is inevitable. From a homeowner’s evolving vision to unexpected site discoveries, the way you handle change orders can make or break a project. Get ahead of the curve with these five time-tested best practices designed to keep your builds on schedule, on budget, and your clients smiling […]
27
May
May
Winning more bids in residential construction isn’t all about offering the lowest price. Price is one aspect, however homeowners and developers are even more interested in reliability, quality, and finding a contractor they can trust. Focusing on the right strategies can help you secure more projects and grow your business. 1. Strengthen Your Reputation with […]
04
Feb
Feb
If you are a construction business owner, you have probably heard the term Work in Progress (WIP) thrown around. What exactly is WIP, and why do you need to understand it? WIP is more than just another accounting term; it’s a resource that helps you track your projects, manage cash flow, and stay profitable. Let’s […]
17
Dec
Dec
During slow periods, construction companies can adopt various strategies to maintain cash flow and keep the business thriving. These downtimes can be opportunities to explore new revenue streams and strengthen your business model. Here are five effective ways to generate revenue during these times. Offer Maintenance and Repair Services Maintenance and repair services are always […]
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