Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

This Podcast Is Episode Number 0257, And It Will Be About Tips To Keep Your Construction Business Finances In Order If you’re like most small construction business owners, you spend the majority of your time managing daily operations, keeping clients happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion. However, measuring profitability, creating realistic budgets, and planning for the future is crucial to your professional success. Follow these three tips to get a handle on the numbers, and take control of your business finances. Move to the cloud  How much of your time do you spend hunting down financial documents, poring over spreadsheets, and tracking expenses? Always searching for and trying to integrate scattered data makes it nearly impossible to close out the monthly books quickly and efficiently. Plus, reliance on spreadsheets is a proven liability. Research shows that over 88% of all financial spreadsheets contain err

This Podcast Is Episode Number 0256, And It Will Be About Tips on How to Save on Construction Materials Today's Podcast Is Based Upon A Guest Article From Melisa Marzett Melisa Marzett is wonderful at writing. Each and every piece she writes is a vivid proof of the statement. Currently working for smartessayrewriter.com she provides with pieces of high quality and diverse in their nature. ----------------------------------------------------------------------------------------------- Repairing is costly, which is why it is highly important to know how to stay within the budget and where is possible to save money. There are a few pieces of advice, which are going to be in handy for those who face repairing. 1. Precise calculations. First of all, one should calculate the number of required materials, to think about the pragmatic angle and to stop on those options, which are truly not expensive for one`s pocketbook. 2. Stocks and sales. Sometimes during the period of sales, one is able to find many interesting

This Podcast Is Episode Number 0255, And It Will Be About Choosing The Right Construction Accounting Solution For Your Company Choosing From Many Construction Accounting Solutions Available Finding a solution that will do “All I Need It To Do” This is the challenge for Construction Contractors. One of the most basics is pad and paper. Write out your proposals on a piece of paper and give it to your client when presenting a Bid, Estimate, List of Material, Invoice, Receipt For Payment. It is Simple, and it works. I remember the 13 Column Pad and a good calculator with paper tape. Happiness was when all the columns added up and matched both directions “The First Time.” Moving up using the paper method is a pad of carbonless forms. They come in assorted sizes and are blank and ready for you to customize as needed. You can order carbonless forms pre-printed with your letterhead and some of your standard items. For an additional fee can have the Disclosure or Notice To The Owner preprinted on the back and other s

This Podcast Is Episode Number 0254, And It Will Be About Five Marketing Tips For Contractors   Today's Podcast Is Based On A Guest Article Is From Brandon Stanley ------------------------------------------------- Are you a contractor that’s looking to get more clients to sign up for your services? Then you need to learn the basics of marketing yourself so that you receive more exposure. By implementing the tips suggested in this article the amount you can earn will increase.   You don’t have to spend hours every day marketing yourself in an aimless manner. With a solid plan in place, you can quickly advertise yourself in front of many potential clients at an affordable cost. 1.  Social media One of the most cost-effective ways of marketing yourself as a contractor is social media. You can build a following of potential customers and notify them when you have promotions or new deals. On a Facebook page, you can create posts with a code for a discount. You can also take advantage of influencer marketing to ge

This Podcast Is Episode Number 0253, And It Will Be About Improve Your SEO Using Google Trends   Today's Podcast Is Based On A Guest Article Is From Jennifer Scott ----------------------------------------------------------------------------------------------- There's a lot of tools online that you can use to help improve your SEO. When you're picking which ones to use, make sure that Google Trends is in there. It's one of the best tools you can use, as it gives you so much information on what you can to do to improve your SEO. Here's how you can use it to give your site a boost. What Is Google Trends? First of all, you'll need to know what Google Trends is before you can use it. It's a tool that shows you what the world is searching for at any given moment. Not only that, it'll show you exactly where these searches are located, too. If you really want to sharpen your SEO and bring in more readers, you can use this information to punch up your keywords and improve your visitor rates. The Top Three Trends When

This Podcast Is Episode Number 0252, And It Will Be About What Is Ten Minutes Costing Your Construction Company Two Construction Companies do similar work for the similar customers using similar labor, materials, and subcontractors yet Company "A" earns twice the profits over Company "B." Inside Company "B" Ten Minutes Of Waste Is Killing Their Profits! It Is The Little Leaks That Sink The Big Ship! Company A focuses on Strategy and Tactics. Company B only focuses on Tactics. To paraphrase Sun Tsu "If the Strategy is correct, then a large number of tactical errors can be made, and the enterprise will be successful; however, efficient operations cannot overcome bad strategy." Every Ten Minutes A Day Of Waste You Have In Your Construction Company Is Destroying Your Profits, Your Future, And Your Life! Harsh Words - And yes I know you are a tough contractor who is accustomed to people trying to sell you something and get in your pocket all the time, so you learn to ignore a lot of crap! You Are Right I Am Trying

This Podcast Is Episode Number 0251, And It Will Be About A Recent Interview With Tom Reber Of The Contractor Fight Part 2 Of 2 Today's Guest Article Is From Tom Reber Of The Contractor Fight Trying Something New Part 2 Of 2   Get A Picture The second approach I recommend is having them send you a picture. Newsflash: We live in a time where people expect us to use the available technology in our businesses to be more efficient and make thing more convenient. Sending a picture means the client doesn’t need to schedule another hour or more of their time with some company that may or may not show up on time.   It means a woman can get a price without having to meet some stranger in her home while her husband is away. Put a form on your website for them to upload pictures or at the very least have them text them to you. 99% of the prospects love this. If anyone has a problem with this it’s the average contractor who has head trash around it. Getting a photo is easy. It sounds like this: Prospect: Hi, I’d li

This Podcast Is Episode Number 0250, And It Will Be About A Recent Interview With Tom Reber Of The Contractor Fight Part 1 Of 2 Today's Guest Article Is From Tom Reber Of The Contractor Fight   Trying Something New Part 1 Of 2 When I first became a contractor many years ago I did what everyone else did when the phone rang: I ran out and gave an estimate. That’s what we do as contractors, right? This practice over the years has conditioned homeowners to expect every home improvement company they deal with to follow the same pattern: Call…set up an appointment for an estimate…meet the person at my house…gather a bunch of estimates…then pick one of them. That’s the clients’ system. Unfortunately, it doesn’t favor us, the contractor. I’m going to share 2 things for you to try that may be new to you, but will help you differentiate yourself from the masses, connect deeper with your prospects and take control of the sales process so it favors you and the prospect. Slow Down The first thing is for you to not r

This Podcast Is Episode Number 0249, And It Will Be About Contractor Are You Ready For A Very Happy New Year? The year has almost come to an end. Just a handful of things left to do. The term “Burning The Midnight Oil” comes to mind. Some things need to be done and date stamped on or before December 31 of each year or it does not count for the current year. Payroll – Did you take any personal payroll (S-Corp) If not, it may impact your personal deductions.  IRA – 401K Making those final payments before midnight on December 31. (Do not wait until 11:59 PM) Some plans allow you to make payments until April 15th (double check the dates– do not assume)  End of the year income - Getting one last customer invoice out and receiving the payment      Last minute purchases to count on 2017 taxes (expenses or larger item which qualifies for depreciation) January 1 – is the time that the reset button on company financials, payroll tax threshold, expenses, and income start over at Zero. Do you have deductibles that reset

This Podcast Is Episode Number 0248, And It Will Be About Contractors Need To Reward Themselves  It's the Holiday Season which means everyone is so busy thinking of everyone else. Wrapping up the end of the year, getting one more thing done that makes sense. I want to be the person who says Merry Christmas! You have earned it. Many of Holiday movies are variations of “Scrooge” based on “This Is Good” and “That Is Bad.” Anyone who has not had any challenges in life has been either extremely lucky or in a very protected bubble.  Congratulations To You Construction Contractor On Your Success! Please send me all your extra four-leaf clovers. If your favorite Happy Leprechaun is not too busy, I will take a little extra Magic. I can never have too much Magic or Sunshine. Life Happens. Challenges Happen. Some Good, some bad depending on the perception of the event. We can all look back and see what we might have done differently. The question is, Did we make a decision? Did that decision seem to be the best decisio

This Podcast Is Episode Number 0247, And It Will Be About Why Did You Open Your Construction Contractor Company What is that old saying? “It Is Always Greener On The Other Side Of The Road”(author unknown) It is always easier to look in hindsight and think “I should have done this” or “I could have done that” All the advice from others about what you should of, could of, did do didn’t do is easy for the person who did not actually make any of the decisions. Some people excel at “Advising Not Actually Doing.” You can’t change yesterday; only do a review and think about What Can I Do Today? And How Can I have a better tomorrow? Tiny changes can make a big difference. You can FIX SOMETHING and do nothing is a decision. (Sometimes taking a pause is the right decision to make) The answer is Think, Plan, Do Something (Make a Plan, Work the Plan) or (Be, Do, Have). Sound familiar from listening to any of the sales messages and webinars from the famous sales organizations of 70’s, 80’s or 90’s. Anyone who has had a

This Podcast Is Episode Number 0246, And It Will Be About Business Systems: Your Guide To Nine Small Business Trends Today's Podcast Is Based On A Guest Article From Betty Moore Great can be the Level of our returns when we are informed on various trends needed to structurally run any business size. From the biggest commodity to the smallest, biggest service providers to the smallest. Every successful entrepreneur can testify that these trends are inevitable tools for a constant and successful business growth. So, here are nine small business trends which you may want to apply to your business. Building your own construction company easily. Learn from experts! Building your customer base: This is very important for any small scale business to grow. This can be achieved through various advertising means. Find out what it takes to get your product out there and, known to the targeted audience. Then, the next is managing your customers. This includes getting a tool which will merge both offline and online cust

This Podcast Is Episode Number 0245, And It Will Be About Unique Secrets To Starting A Highly Profitable Handyman Company  Basics of Starting Your Handyman Company Sometimes it hard to know where to begin when starting any Construction Company including a Handyman Company. First Place to decide what type of contracting business do you want to start. For many contractors, the Place To Begin is to choose to be a handyman. Why do I suggest a Handyman? No one expects a Handyman to have the skills of a High-End Finish Carpenter. It will give you an opportunity to try many things. Learn how to make simple repairs. Determine what you like to do and learn the skills associated with that trade. Many states have a basic license for the Handyman. The best place to learn about starting up and operating a highly profitable Handyman Company is Dan Perry Handyman Startup. Here is a link to his online course that is only open twice a year. Get on the list. The next steps are all about Company Structure. We recommend bein

This Podcast Is Episode Number 0244, And It Will Be About What To Ask An Accountant When Meeting One For The First Time Today's Guest Article Is From Karen Watson Professional Bookkeeper Currently Works At Balancing Books Bookkeeping ----------------------------------------------------------------------------------------------- "Running a business is a piece of cake” – said no one ever. Achieving success requires you to study a lot of things. Assuming that time and effort is needed is an understatement. Running a business covers a lot of areas such as product, price, promotion, and place. Accounting is another essential part of the business. It’s a system that keeps your finances in top shape. After all, building a business is about earning assets, not increasing liabilities. If the specifics of accounting isn’t your forte, then hiring an accountant is a good option for you. However, deciding to acquire accounting services is not cheap. You need to know if the services offered are worth every penny. If it’s y

This Podcast Is Episode Number 0243, And It Will Be About Highly Profitable Contractors Continually Improve Their Processes Successful Contractors Improve Processes All Year Long As the end of the year approaches it is time to see about loose ends in paperwork and forms. Ask employees to review their taxes withheld to date. Do they want to make any adjustments for this year? Every Contractor Wants To Avoid Fines, Penalties And Overpaying Taxes Review your Cash On Hand. Do want to make any new purchases of tools or equipment before the end of the year?  Can you get financing (example six months same as cash)? Check out Paypal Credit offers. From now to the end of the year it will seem like almost everything you could want will be on sale Fun Stuff is upgrading your phone. Fun Stuff is adding new apps to your new phone. Fun Stuff is being familiar with your existing office equipment.   Change that happens with all the new Fun Stuff may come with some challenges Learning how to use the new app that looked so

This Podcast Is Episode Number 0242, And It Will Be About How Can Cause and Effect Analysis Help You Solve Business Problems Today's Guest Article Is From Lori Wade Content Writer And Career Specialist For College Students  ----------------------------------------------------------------- Problems happen in any business. When it comes to small businesses, about two-thirds of them actually survive 2 years, half of them survive 5 years, and only one-third survives 10, according to data provided by Fundera website. The statistics for large businesses is probably as saddening as this one. The problems are what causes businesses to fail. At the same time, fearing problems is not the way out. Instead, business owners need to learn from them as well as learn how to solve them. The challenge lies in how do you solve them. There are plenty of people, who start brainstorming all the possible solutions - and do it until it’s too late. While brainstorming can work for many, it needs to be followed by actions in order

This Podcast Is Episode Number 0241, And It Will Be About Unique Highly Profitable Contractors Use Job Costing And Financial Reports  Successful Contractors Find Keys To Growth And Profit In Their Accounting Halloween is the official Kickoff of the Holiday Season. Kids dress up as anything from Princesses to Pirates and every TV character in between. Time of smiles, giggles and lots of “pixie dust” and “magic wands.” Time for “Santa and his reindeer” to visit the malls with a fresh supply of Cookies and Candy.   Wait, let's not forget Thanksgiving with Turkey, Dressing, Yams, Mashed Potatoes, Gravy, Fruit Salad, Pumpkin Pie, Ice Cream and lots of Egg Nog. All of this leads to us in January wishing we ate less and exercised more in hopes to keep the pounds on and matched by the pounds off for a net gain of Zero.     Software and the desire to do everything with our phone is the “Grownup’s Version” of the Candy Store all year long. With a couple of clicks on my phone, I want to Buy Something Pay For Something

  This Podcast Is Episode Number 0240 And It Will Be About Construction Accounting Secrets For New Contractors Construction Accounting Basics For Construction Contractors Construction Accounting is not a natural mindset for Construction Contractors. Construction Accounting has own language. Regular Accounting the language is Income Minus Expenses Equals Net Profit. Construction Accounting is Income Minus Cost of Goods Minus Overhead Equals Net Profit. That simple little thing called Cost of Goods Sold is the primary difference between Regular Accounting and Construction Accounting. Understanding that difference and how it relates to Job Costing and Job Profitability can get contractors like you firmly on the road to financial freedom. Then comes Construction Accounting. Income is added up to have Total Income. Cost of Goods Sold included more than the cost of material. Total Income less Total of Cost of Goods Sold equals Gross Profit.   Expenses include a variety of overhead related items. Gross Profit less

This Podcast Is Episode Number 0239 And It Will Be About Essential SEO Tips For Contractors Today's Guest Article Is From Chris Richardson Are you a contractor that is looking to improve their SEO so that you can earn more clients? When it comes to SEO you can always find new ways of doing things in order to improve the quality of the end result, which is to gain higher results in the search engine results pages. This consequently leads to more customers hiring your services as a contractor. Nowadays contractors are responsible for things such as painting, roofing, plumbing and so on. They help homeowners complete the DIY projects that might be too hard for them to tackle on their own. However, getting visibility in the marketplace can be hard for some contractors if they have no idea how to go about advertising themselves. The benefits of SEO for contractors The biggest benefit of good quality SEO for contractors is that a higher number of people in the local area will be able to find out about the contract

This Podcast Is Episode Number 0228, And It Will Be About Unique Ways Highly Profitable Contractors Reduce Taxes Contractors Reflect On This Year's Results As The Last Quarter Begins Going into the last Quarter of the year. Time for some basic reflection about taxes. Officers in S-Corps tend to take payroll later in the year. Now is the time if you have not already been taking payroll. Don't wait until it is time to prepare your Construction Company tax return. Next review your Estimated personal Taxes paid to the IRS. How much did you pay in taxes for the current year? Internal Revenue expects that you have paid a percentage Federal Taxes before the end of the year.   Reviewing Federal Withholding for yourself and your employees to avoid surprises when your annual taxes are filed. Contractors who file as a Sole Prop or as an LLC fining as a Sole Prop tend to forget that payroll taxes on their net income is due. I call this “Chef’s Surprise” as it is based on Net Income. Everyone wants the last few jobs to