Developing A Comprehensive Strategy - For your construction business is as much fun as wrestling a pig in the mud because:
- It is a slippery and hard to get control of it
- It will wear you out and frustrate you endlessly
- You will swear it is a complete waste of time
- Your contractor buddies who are barely making a living will think you're crazy
- In the end you will be thoroughly worn out, exhausted and mentally drained
If You Are One - Of the few contractors that starts doing it your eyes will be opened to new possibilities and you will catch a glimpse of how and why some contractors become very wealthy and others never get beyond owning a job they cannot leave and nobody wants to buy.
A Few Contractors - And you may be among them will do whatever it takes to rise above owning a job and develop a construction business that will provide for themselves and their families for a lifetime and use it to develop an estate to pass on their heirs. This article is for you!
BPM - Business Process Management Strategy
Large Profitable Construction - Companies have known about and used some form of BPM for hundreds of years. During the past 100+ years colleges and universities have pumped business majors with in depth understanding of how BPM works and the good ones that actually paid attention, did the homework and understood the system have been scooped up and hidden away inside the financial and project management offices of these same large profitable construction firms.
Some Business Majors - Have attempted to use their knowledge of BPM to help small construction companies and failed miserably because the business majors and the construction company owners do not understand each other's world.
Every Once In A While - Someone with this knowledge breaks out of the pack and uses the knowledge to become a contractor and in most cases they are very successful and become very wealthy.
On Very Rare Occasions - One of them who have spent time as a contractor will turn their attention to the art and science of Construction Bookkeeping And Accounting and share it with his fellow contractors. I am that person, The Contractors Accountant Randal DeHart.
BPM Has Many Names - Phrases and words to describe it and the simplest one is the one we at Business Consulting And Accounting came up with: "Use Your M.A.P. To Find The Treasure.
Marketing Is The Foundation - Because nothing happens until somebody buys something. All successful contractors know people are buying construction products and services by visiting Home Depot, Lowes, lumber yards, plumbing and electrical supply houses and seeing construction company trucks and vans on the highway. The only question they ask themselves is who are those people that are buying construction services and how can we be at the right place, at the right time, with the right message when they begin their search for a contractor.
Accounting Is The Scorecard - In your Construction business. It tells you what is working and you should do more of to make more money and what is not working which is what you should do less of to make more money. Construction accounting is the center of your construction business; pay attention to what it says and it can make you wealthy. The value in your bookkeeping is in the accuracy of the reports. You can hire a Cheap/Bad Bookkeeper and get garbage reports to base business decisions upon or you can outsource your construction bookkeeping and accounting to a professional service with a mentoring program for contractors like you with a systematic approach to construction accounting that allows you to access QuickBooks anywhere you have an internet connection so that you can monitor your Key Performance Indicators which is your daily scorecard.
Production Is Where - The rubber meets the road or if you please this is where all the planning and support structure pays off. There are two main ways to do this part.
Run your business like a Police Officer directing traffic with a Strategic Management System
Run your business with a Fire Fighter mentality putting out fires that could have been prevented