Stop robbing Peter to pay Paul
Create a system for profits
Focus on what’s important
Dettmore Home Improvements Rutherford, NJ
Constructing Spaces, Ltd Calgary, AB
Ken Alger Woodworking Johnston, RI
JPM Construction Omaha, NE
During the course of this program, you will become the master of your finances, learn how to break The Craftsman Cycle®, and become permanently profitable.
You’ll get an overview of your financial reports – specifically your Profit and Loss statement and your Balance Sheet. These reports lay the foundation for the Profit First for Contractors’ system and will cover Income, COGs, Expenses, and Net Profit (Before Taxes).
We are going to rip off the band-aid and crunch a few numbers. We’ll cover Real Revenue & TAPs and you’ll take your Initial Assessment to determine your goals for your construction business.
We take a deep-dive into analyzing your Profit and Loss statement to ensure you are pricing your work to produce a profit. By the end of this lesson, you’ll know exactly what you need to charge to produce a profit and determine the areas in your construction business that need adjustments.
We will review the 5 Foundational Accounts including their individual purposes and nuances, and how each account serves your business. You’ll also learn about the additional accounts you may need and how they work in the Profit First for Contractors system.
We are going to put all your hard work into action by developing your Roll Out Plan, so your construction business is permanently profitable forever. We are also going to show you how the 10/25 Rule will help you spot the trends in your construction business, and we will develop your Debt Elimination Plan.
Are you leaving money on the table every time you price a job? Does your CPA know how a construction company makes a profit? How much is not knowing how to read your financial reports costing you? Not sure if you’re making a profit?
A lack of managed cash flow may already be costing you a great deal.
The Profit First for Contractors system works because it marries how you make operating decisions in your construction business with proven financial strategies to guarantee profits.
Without Profit First for Contractors in place, you check the bank account and spend money if you have some. If there’s no money in the bank account, you stress out, cut back, and try to survive.
With Profit First for Contractors in place, you know exactly where all the money is in your business and where it’s going.