Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
0123: Contractors Success Map Unique Contractor Investment Can Exceed 100% Return
This Podcast Is Episode Number 0123 And It Will Be About A Unique Contractor Investment That Can Exceed 100% Return
How Many Places Can You Find With Strong Chance Of 100% Return On Investment?
Let Me Say - If something seems too good to be true it probably is and you should stay far away from it.
However, if you have read anything I have ever written you will know that I do not gamble! I did lose fifty cents in a Casino in Vegas in the early 1970's and have not gambled since; and I am still mad about it!
I Do Like Managed Risks - Which is anything I can control the input and have a greater than breakeven chance of making a profit. I pay close attention to the higher levels of math and how it is used to predict with a degree of accuracy probable outcomes.
Decision Modeling Is One Of My Favorites - Decision modeling use reliable QuickBooks reports to generate predictions of profit and loss based upon re-allocating resources and aligning your Business Process Management system processes to present to you a variety of possible outcomes.
As possible outcomes are analyzed decisions become easy because the goals, processes and data come together. It offers you a way to attach knowledge, expertise and analytic insights.
As Contractors Move Away From Gut-level Decisions - And begin relying on their construction accounting systems to provide useful financial and job costing reports the open a treasure chest busting at the seams with useful knowledge which can lead them to earning massive profits and by extension increase their personal wealth exponentially.
Knowledge Leads To Profits And Cash FlowWhat Makes Knowledge Powerful?
Use Of Knowledge!
If You Could Harness And truly understand even half of the information contained in your existing QuickBooks company file and I mean truly understood it, you could easily become a wealthy, debt free and be living the lifestyle you truly deserve in five years or less.
One Tiny Bit Of Knowledge High Profit ContractorsUse To Get Over 100% Return On Investment
They Provide Snacks And Beverages - For their field workers and office staff. What you say? It costs money! How is spending money going to make me money? Perhaps you think I am crazy!
For Example Let's Look At One Field Worker Named Henry:
Henry may or may not have a hearty breakfast before coming to work at the construction site depending on a variety of factors outside your control and perhaps his too.
If Henry Is Hungry - His body does not have enough fuel to produce good quality work efficiently at 100% and it will show.
If Henry Is Not Hungry - He will produce at 100% in less time with fewer mistakes and that saves time and money on your labor, material, warranty work and other costs.
If Henry Wastes Thirty Minutes A Day - And you pay him $25.00 an hour that means with all of the employment taxes and overhead he costs you roughly $35.64 an hour. Which means you lost you lost $17.82 on what can be measured.
What cannot be measured; bad attitude disease, rework, warranty repairs, excess wear and tear on tools and equipment, etcetera is equal or greater than $17.82.
A Construction Worker Paid $25.00 Per Hour Could Who Waste Ten Minutes A Day Could Cost Your Construction Company $1,544.42 Each Year In Lost Profits! At 10% Profit You Need $15,544.20 More Sales To Maintain Profit Your Profit Margin!After A Couple Hours - Intense construction work Henry gets dehydrated and having burned a number of calories, he could be getting important messages from his stomach regarding FOOD NOW! This could cause Henry to slow down a little bit....costing your company some profit dollars.
Lunch Time - Henry didn't pack a lunch, wants to "work through lunch" and leave early. If you watch Henry real close around 02:00 PM you will see the metabolism dance right out of his body and now he is uncomfortable and getting a bit edgy, grouchy and a slightly nasty.
02:00 PM Until Quitting Time - Is when Henry will screw something up, get careless, get hurt and require medical attention, (Ca-ching $$$, Labor and Industries investigation, ca-ching $$$) or if you are lucky his afternoon production will be roughly 80% of his morning production.
Let's Run The NumbersWithout Snacks And Beverages your stand to lose $53.46 on labor costs and $22.81 on material waste for a total loss of $76.27. See http://www.fasteasyaccounting.com/blog/bid/200304/Unique-Contractor-Investment-Can-Exceed-100-Return for all the details.
With Snacks And Beverages you stand to gain $41.38 after investing $5.00 +/- per employee.
Cost Of Snacks And BeveragesGet a large cooler and assign someone to stop by the grocery store or convenience store and pick up two bags of crushed or cubed ice and a selection of single serving ice teas, bottled water, juices and other beverages and possibly some energy bars and related snacks. Investment per construction worker will be roughly $5.00 +/-
Bonus Profit Enhancement StrategyIf you really wanted to increase profits consider having lunch delivered to the job site every day. You could alternate between Pizza, Sandwiches, Chicken, Tacos and whatever else makes sense to you.
We Did This in All Of Our Construction Companies - For over 20 years and it ALWAYS generated more profits than it cost. In our case, a lot more than a measly 100% Return on Investment.
Our Contractor Clients - That are doing this show a substantial Return on Investment. We know it is true because we provide all of their contractors bookkeeping services needs.
Their are profits that are slipping through your fingers and you didn't even know it because "Profits Are Made In The Office, Not In The Field" - Randal DeHart
What You Don't Know Can destroy profitability because it is hidden. If you don't know how to analyze your QuickBooks reports get someone that does, perhaps Fast Easy Accounting.
The Same Scenario Applies To Office Staff - Which is covered in great detail here: http://www.fasteasyaccounting.com/ten-minutes-can-kill-your-company-profits/
When You Come To my office and start complaining about how much you are paying more in income tax since working with us than you used to earn in a year that makes me very happy!
Because That Means You are no longer struggling to make ends meet; rather, you are building a financial estate that will provide passive income to support you when you retire.
Growing Profits By The Inch Is a cinch works great because we did it for years in our construction businesses and we do it now in our accounting office.
I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person.
We Remove Contractor's Unique Paperwork FrustrationsWe understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!
That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.
You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives!I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast
This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com
Thinking About Outsourcing Your Contractors Bookkeeping Services?
Click On The Link Below:
Need Help Now?
Call Sharie 206-361-3950
In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting.
Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.
Bye for now until our next episode here on the Contractors Success MAP Podcast.
Warm Regards,
Randal DeHart | Contractors Accountant
We Remove Contractor's Unique Paperwork Frustrations