Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
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Episodes
576: How To Build Up And Stand Out By Delighting Your Construction Clients
May 17, 2024 12:30 - 12 minutes - 11.3 MBThis Podcast Is Episode 576, And It's About How To Build Up And Stand Out By Delighting Your Construction Clients Most businesses understand that customer satisfaction is crucial to their success. Happy clients are likelier to remain loyal, refer others, and leave positive reviews. This trend has only been amplified by social media and online review sites, where negative feedback can spread quickly and damage a company's reputation. In an increasingly competitive marketplace, more than ...
575: A No-Fuss Record-Keeping Guide For Your Construction Business
May 10, 2024 12:30 - 11 minutes - 10.4 MBThis Podcast Is Episode 575, And It's About A No-fuss Record-keeping Guide For Your Construction Business Managing a hectic schedule and complex projects can be challenging if you're a contractor. You must also ensure that your paperwork, documents, and contracts are in order. It's essential to keep a paper trail of your work and practice due diligence. Keeping all your working documents in order shows that you treat your business, customers, and subcontractors responsibly. This is a m...
574: What Every Contractor Needs To Know About Successful Construction Companies
May 03, 2024 12:30 - 12 minutes - 11.3 MBThis Podcast Is Episode 574, And It's About What Every Contractor Needs To Know About Successful Construction Companies Small construction businesses have several characteristics that distinguish them from larger firms. These characteristics include having a limited workforce, smaller revenue streams, and a more localized focus. They are often run by the owners themselves or a small team of employees. They tend to have a more personal approach to their work, as they are usually more...
573: Navigating Construction Cash Flow Challenges, Myths, And Facts
April 26, 2024 12:30 - 12 minutes - 11.3 MBThis Podcast Is Episode 573, And It's About Navigating Construction Cash Flow Challenges, Myths, And Facts In the world of small businesses, positive cash flow is king. The driving force keeps your business engine running smoothly, covering all your liabilities. But what happens when outflow exceeds inflow? Cash flow problems ensue, threatening the survival and growth of your construction business. These cash flow problems can originate from various sources, including macroeconomic issue...
572: Budgeting, Forecasting, And Goal-Setting In Your Construction Company
April 19, 2024 12:30 - 11 minutes - 10.6 MBThis Podcast Is Episode 572, And It's About Budgeting, Forecasting, And Goal-Setting In Your Construction Company If you're like many construction business owners, you may need help understanding your finances or how you can use your financial information to make decisions for your business. We often get into business because we love a product or service we want to provide, but it's less common that we love managing the financial aspects of our business. As a construction compan...
571: Practical Tips To Improve Your Construction Marketing Strategy
April 12, 2024 12:30 - 11 minutes - 10.9 MBThis Podcast Is Episode 571, And It's About Practical Tips To Improve Your Construction Marketing Strategy Stepping up your marketing game as a construction business owner is always a welcome topic in my client conversations. Often, contractors chat with me about the best way to promote their company, primarily because no one else is running it. You may focus more on accounting and taxes at times, and at other times, your business may slow down, and sales become more challenging. Gi...
570: Construction Business Practices For Getting Paid And Paying Yourself
April 05, 2024 12:30 - 11 minutes - 10.5 MBThis Podcast Is Episode 570, And It's About Construction Business Practices For Getting Paid And Paying Yourself Running a small construction business may seem like hopping from one task to another, needing more support and guidance. That can make it tempting to let some to-dos on your checklist slide, especially those related to finances, which can be challenging and are often outside your preferred skill set or experience. The issue, of course, is that clients can only pay you onc...
569: How Not To Undercharge Your Construction Clients
March 29, 2024 12:30 - 10 minutes - 9.98 MBThis Podcast Is Episode 569, And It's About How Not To Undercharge Your Construction Clients Contractors like you know how to pound nails, pour concrete, build homes and commercial structures, bend pipe and pull wire, install roofs, lay carpet, paint walls, and perform a thousand other tasks. So why are you not enjoying the same standard of living as other professionals? Because you are doing all of those things for anybody and everybody who asks you to. Too many contractors are over...
568: The Power Of Core Values In Your Trade Business
March 22, 2024 12:30 - 10 minutes - 10 MBThis Podcast Is Episode 568, And It's About The Power Of Core Values In Your Trade Business As a construction company owner, you're the architect of your business's vision and culture. But some of the foundation often needs to catch up in the hustle to improve services, chase sales, and keep the lights on. Core values—those guiding principles that shape your company's identity—are more than words on a wall or a statement in a handbook. Getting leads and doing the work is only part of...
567: The Secrets To Stellar Client Service In The Construction Industry
March 15, 2024 12:30 - 12 minutes - 11.4 MBThis Podcast Is Episode 567, And It's About The Secrets To Stellar Client Service In The Construction Industry Customer service is the heartbeat of any successful business. The unsung hero transforms a potential disaster into an opportunity and a mere transaction into a lifelong relationship. In the narrative of customer loyalty and retention, service is the protagonist. Your approach to customer service has the power to attract and retain clients. As a construction business owner, c...
577: The Secrets To Stellar Client Service In The Construction Industry
March 15, 2024 12:30 - 12 minutes - 11.4 MBThis Podcast Is Episode 567, And It's About The Secrets To Stellar Client Service In The Construction Industry Customer service is the heartbeat of any successful business. The unsung hero transforms a potential disaster into an opportunity and a mere transaction into a lifelong relationship. In the narrative of customer loyalty and retention, service is the protagonist. Your approach to customer service has the power to attract and retain clients. As a construction business owner, c...
566: Marketing Your Construction Business- How To Make It Work For You
March 08, 2024 13:30 - 11 minutes - 10.5 MBThis Podcast Is Episode 566, And It's About Marketing Your Construction Business: How To Make It Work For You Marketing your construction business is crucial for its growth and success. You can use various strategies to promote your business, such as creating a website, networking, social media marketing, and advertising. Additionally, sponsoring events and collaborating with other companies can help you reach a wider audience. I understand how daunting it can feel for construction ...
565: DIY Construction Accounting Errors And Ways To Improve Your Practices
March 01, 2024 13:30 - 12 minutes - 11.3 MBThis Podcast Is Episode 565, And It's About DIY Construction Accounting Errors And Ways To Improve Your Practices Many small construction business owners tend to handle their accounting and bookkeeping, especially when they've just started. However, keeping track of the finance side of the business– everything from income to expenses to tax compliance– can be overwhelming. Mistakes can happen quite quickly and can have costly consequences for your business. Below are five of the most...
564: Common Construction Business Pitfalls And How To Overcome Them
February 23, 2024 13:30 - 10 minutes - 10.1 MBThis Podcast Is Episode 564, And It's About Common Construction Business Pitfalls And How To Overcome Them Construction Company owners like you have probably experienced life-changing events in the past few years, as many of our clients did. Are you struggling to keep your construction business afloat? Do you find yourself facing the same issues over and over again? It's common for construction businesses to meet various challenges, but if you're not addressing them properly, they can qui...
563: Unlocking New Construction Clients And Markets
February 16, 2024 13:30 - 11 minutes - 10.2 MBThis Podcast Is Episode 563, And It's About Unlocking New Construction Clients And Markets For a business to thrive and grow, it needs a strategic plan and the ability to find new customers and continually tap into promising markets. However, this can be easier said than done in a highly competitive trade industry. With time, the quality of your work will speak for itself, which is the most valuable testimonial of all. While your good reputation preceding you is undoubtedly essential...
562: Improving Productivity And Leadership Mentality As A Contractor
February 09, 2024 13:30 - 11 minutes - 10.7 MBThis Podcast Is Episode 562, And It's About Improving Productivity And Leadership Mentality As A Contractor As a construction business owner, improving productivity is essential to your company's success. But you may often find yourself pulled in different directions by competing responsibilities. At some point, we all experience that. Classifying tasks and tackling the most time-consuming ones can feel daunting. But why is it so hard for us to start – or even finish – seemingly insi...
561: Easing Your Back Office Burden One Payroll At A Time
February 02, 2024 13:30 - 11 minutes - 10.6 MBThis Podcast Is Episode 561, And It's About Easing Your Back Office Burden One Payroll At A Time As a construction business owner, you have a lot on your plate. You need to manage your employees, oversee projects, ensure compliance with regulations, and keep your clients happy. Amidst all this, you may be tempted to handle your payroll to save costs and maintain control. At face value, it seems like a great idea. If you're a small business owner with just a few employees, you probabl...
560: Scaling And Adapting Business Strategies Amid The Cost Of Living Crisis
January 26, 2024 13:30 - 12 minutes - 11.4 MBThis Podcast Is Episode 560, And It's About Scaling And Adapting Business Strategies Amid The Cost Of Living Crisis When you're ready to take your construction business to the next level, you might start thinking about "scaling." No, it's not just a fancy term for growth; it's about doing more with less. Scaling is about increasing your revenue without proportionately increasing your resources—fancy yet practical, right? It's like sending an email: your effort is the same whether you send ...
559: Mastering Tone For Construction Company Connections
January 19, 2024 13:30 - 10 minutes - 9.42 MBThis Podcast Is Episode 559, And It's About Mastering Tone For Construction Company Connections Mastering the right tone is critical when connecting and communicating with people in the construction business. Whether you're writing an email, making a phone call, or meeting in person, how you present yourself can make all the difference in building strong relationships with clients, colleagues, and partners. Research suggests that as much as 93% of communication is non-verbal, so it's un...
558: Practical Tax Season Tips For Construction Business Owners
January 12, 2024 13:30 - 11 minutes - 10.5 MBThis Podcast Is Episode 558, And It's About Practical Tax Season Tips For Construction Business Owners Tax season can be a bit overwhelming for construction business owners, especially with many things to keep track of in our industry. But don't worry; we're here to help! We know that construction businesses have unique tax considerations that can be tricky to navigate, such as complex accounting and bookkeeping challenges and issues related to payroll and sales taxes. That's why st...
557: Becoming A Better Project Manager By Improving Communication Skills
January 05, 2024 13:30 - 11 minutes - 10.9 MBThis Podcast Is Episode 557, And It's About Becoming A Better Project Manager By Improving Communication Skills In the construction industry, communication takes many forms, including written reports, drawings, emails, and face-to-face meetings. Each form of communication has its own set of advantages and disadvantages. For example, written reports and illustrations provide a permanent record of information, but they may not be as effective in conveying complex ideas as face-to-face intera...
556: Rest And Reset For Construction Contractors And Business Owners
December 29, 2023 13:30 - 11 minutes - 10.7 MBThis Podcast Is Episode 556, And It's About Rest And Reset For Construction Contractors And Business Owners To be in business and to remain in business, become a business person! To run a business, you must be business-like. It's not sufficient just to be very good at what you do. Many people who are 'very good at what they do' have failed. The familiar cry: "I'm far too busy for that" is no excuse. Are you 'too busy' to be a competent businessperson? If so, your construction business won'...
555: The Benefits Of Outsourcing For Construction Company Owners
December 22, 2023 13:30 - 13 minutes - 12.2 MBThis Podcast Is Episode 555, And It's About The Benefits Of Outsourcing For Construction Company Owners Outsourcing can offer a range of advantages for small construction businesses in today's competitive market. Not only does it reduce costs and free up valuable time for owners to focus on growing their business, but it also provides access to skills and expertise that may be unavailable in-house. Small construction businesses can streamline operations, increase productivity, and scale fa...
554: Managing Work-Life Balance As A Construction Business Owner
December 15, 2023 13:30 - 11 minutes - 10.3 MBThis Podcast Is Episode 554, And It's About Managing Work-Life Balance As A Construction Business Owner Wellness is an important aspect of life for everyone, especially construction contractors like you. Given the physically demanding nature of the work, contractors must prioritize their physical and mental health. Proper nutrition, exercise, and adequate rest are all necessary for maintaining a healthy body and mind. Additionally, taking breaks and managing stress can help prevent burnout...
553: How To Avoid Year-End Construction Bookkeeping Chaos
December 08, 2023 13:30 - 10 minutes - 9.71 MBThis Podcast Is Episode 553, And It's About How To Avoid Year-End Construction Bookkeeping Chaos As the year comes to a close, it's important to start thinking about your bookkeeping tasks to ensure a smooth transition into the new year. Deadlines are fast approaching, but it doesn't have to be stressful. Have you given your bookkeeper, wife, partner, accountant, or tax accountant the information needed to complete your reports? Accountants need good information to create detailed re...
552: Why Online Reviews Matter And Ways To Deal With Negative Feedback
December 01, 2023 13:30 - 10 minutes - 9.14 MBThis Podcast Is Episode 552, And It's About Why Online Reviews Matter And Ways To Deal With Negative Feedback In today's digital age, online reviews hold immense power and influence over the success of small construction companies. With easy access to social media, Google reviews, and review websites, customers can easily voice their opinions and experiences with your business online. Most people searching for a local construction company - whether they need a plumber, painter, or general ...
551: Recognizing The Value Of Construction Contractors In Our Daily Lives
November 24, 2023 13:30 - 13 minutes - 12 MBThis Podcast Is Episode 551, And It's About Recognizing The Value Of Construction Contractors In Our Daily Lives I was taking a moment to reflect on the challenges for the Pilgrims coming to America. They decided to make the journey with no guarantee of success. To build homes, plant crops, and take care of animals. Then, later, everyone chose to move West by wagon train, horse, or on foot. I am grateful for them! I think about my Grandparents and my Great Grandparents. What was life like w...
550: Becoming A Better Construction Leader By Practicing Generosity
November 17, 2023 13:30 - 10 minutes - 9.95 MBThis Podcast Is Episode 550, And It's About Becoming A Better Construction Leader By Practicing Generosity If you have been lucky enough to encounter generous people, you understand they have a unique gift for garnering the respect and admiration of individuals around them. When you are a leader, having a positive relationship with the people who follow you is a huge asset you cannot put a price on. In the construction business, generosity and helpfulness are two fundamental traits ...
549: Construction Company Budget Vs. Cash Flow
November 10, 2023 13:30 - 11 minutes - 10.5 MBThis Podcast Is Episode 549, And It's About Construction Company Budget Vs. Cash Flow Finding some certainty can make all the difference in the unpredictable construction business world. While the future remains a mystery, budgeting and cash flow forecasting tools can significantly reduce uncertainty, allowing you to anticipate challenges, learn from past events, and enhance your ability to navigate your business. Budget vs. Cash Flow: The Crucial Distinction A common misconception is ...
548: The True Value Of Networking To Contractors And The Community
November 03, 2023 12:30 - 11 minutes - 10.6 MBThis Podcast Is Episode 548, And It's About The True Value Of Networking To Contractors And The Community The ability to network is a fundamental part of running a business. Running a business in isolation is difficult, so it helps to have expert partners and acquaintances available to share ideas with. If you're looking to network with construction industry professionals, there are several ways to do so. 1. Attend industry events: Look for construction industry conferences, exp...
547: Essential Bookkeeping Practices For Construction Start-Ups
October 27, 2023 12:30 - 13 minutes - 12.1 MBThis Podcast Is Episode 547, And It's About Essential Bookkeeping Practices For Construction Start-Ups Starting a new construction business is exciting but has its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It's not just about keeping things tidy; it's about understanding the financial health of y...
546: Seven Sure-Fire Ways To Grow Your Construction Business
October 20, 2023 12:30 - 13 minutes - 12.4 MBThis Podcast Is Episode 546, And It's About Seven Sure-Fire Ways To Grow Your Construction Business Once your construction business is up and running, it’s essential not to rest on your laurels. Successful business owners always look for ways to grow and maximize their profits. We’ve compiled a guide and checklist to help you identify ways to get the most out of your contracting company. 1. Grow your sales Contact your best clients. One of the easiest ways to increase...
545: The Implications Of Rising Interest Rates For Construction Contractors
October 13, 2023 12:30 - 9 minutes - 9.16 MBThis Podcast Is Episode 545, And It's About The Implications Of Rising Interest Rates For Construction Contractors In the construction business world, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small businesses is rising interest rates. Understanding how this impacts your construction business and identifying solutions to counteract these effects can be vital to sustai...
544: Why Banks Won't Lend Money To Your Construction Business
October 06, 2023 12:30 - 13 minutes - 11.8 MBThis Podcast Is Episode 544, And It's About Why Banks Won't Lend Money To Your Construction Business Getting approved for a business loan or line of credit is more complicated than qualifying for a personal loan. Small construction business owners must be adequately prepared to meet with a lender to present their business in the best possible light and ready for the money they need. Think of all the times: You loaned money to a friend or relative Provided labor and materials for someb...
543: Better Practices For Managing And Maintaining Construction Business Cash Flow
September 29, 2023 12:30 - 10 minutes - 9.85 MBThis Podcast Is Episode 543, And It's About Better Practices For Managing And Maintaining Construction Business Cash Flow In the business world, cash flow remains the lifeblood that keeps your operations running smoothly. Whether you're a start-up finding your feet or a seasoned business in the construction industry, managing and maintaining a steady cash flow can be challenging. But a few small changes can make a world of difference to your cash flow and overall revenue. Your busine...
542: What Is A Fractional CFO And How Can It Help Your Construction Business?
September 22, 2023 12:30 - 11 minutes - 10.8 MBThis Podcast Is Episode Number 542, And It's About What Is A Fractional CFO And How Can It Help Your Construction Business? A fractional CFO, or Chief Financial Officer, is a finance professional working part-time, retainer, or contract. They bring the experience and expertise of a high-level CFO to your business – without the cost of hiring a full-time, in-house employee. Fractional CFOs service several clients simultaneously, typically on a part-time, retainer, or contract basis. T...
541: The Value Of Documenting Effective Construction Business Systems
September 15, 2023 12:30 - 12 minutes - 11.7 MBThis Podcast Is Episode Number 541, And It's About The Value Of Documenting Effective Construction Business Systems Many entrepreneurs operate with their business processes and systems in their heads. They know what they must do daily and how they want to get things done. Unfortunately, when a construction business grows, and staff need to be hired – or the owner needs to take time away from the company – it's an absolute liability not having processes and systems documented in one p...
540: Key Financial Concepts For Construction Company Owners
September 08, 2023 12:30 - 12 minutes - 11.7 MBThis Podcast Is Episode Number 540, And It's About Key Financial Concepts For Construction Company Owners Not everyone knows construction accounting, and it is easy to assume all accounting is the same. Even if you have outsourced your financial functions, as a small construction business owner, having a solid understanding of critical financial concepts is crucial to work with your advisor and 'speak their language". This article outlines several essential concepts that every small busine...
539: Construction Company Contract Traps And The Advantages Of Legal Help
September 01, 2023 12:30 - 11 minutes - 10 MBThis Podcast Is Episode Number 539, And It's About Construction Company Contract Traps And The Advantages Of Legal Help Mistakes can be expensive in the construction business, and as an entrepreneur, although you'll know many of the regulations that apply to your business, there are so many that you can't possibly remember all of them. Depending on the type of contracting business you run, you could face laws regarding taxation, employment, product liability, premises liability, discrimina...
538: Pros And Cons Of Working With Family And Friends In Construction
August 25, 2023 12:30 - 11 minutes - 10.1 MBThis Podcast Is Episode Number 538, And It's About Pros And Cons Of Working With Family And Friends In Construction Ever dreamed of starting a family business? Investing in a franchise opportunity with friends? Businesses owned and operated by families can have incredible staying power. All family-owned companies, Volkswagen, Samsung, and Nike, are among the world's most successful, leading brands. Working with family and friends can be fun and rewarding, especially in the cons...
537: How To Safeguard Your Construction Company From Employee Expense Fraud
August 18, 2023 12:30 - 11 minutes - 9.86 MBThis Podcast Is Episode Number 537, And It's About How To Safeguard Your Construction Company From Employee Expense Fraud As a small business owner, you always look to keep your company running efficiently. Expense reimbursement fraud is the last thing you want to face. Not only can it hurt your bottom line, but it can also damage your construction company's reputation. Here we discuss employee expense fraud, the reasons behind it, and, most importantly, how to prevent it from happening to...
536: How To Handle Construction Client Debt So You Get Paid On Time
August 11, 2023 12:30 - 10 minutes - 11.3 MBThis Podcast Is Episode Number 536, And It's About How To Handle Construction Client Debt So You Get Paid On Time If your customers owe you money, the faster you can obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your construction company's cash flow. It can be easy to neglect to manage your debtors when you're busy growing your business, but intelligent credit control is important. So it's crucial to have th...
535: A Guide To Service Based Business Advertising That Works
August 04, 2023 12:30 - 12 minutes - 12.5 MBThis Podcast Is Episode Number 535, And It's About A Guide To Service Based Business Advertising That Works Marketing covers everything you do in your business that creates awareness, including advertising, brochures, competitions, trade shows, demonstrations, travel, direct mail, email campaigns, your website, and sponsorship. Let's narrow our focus to an integral part of Marketing - Advertising. Advertising is a massive industry with multiple mediums for your message to be heard or lo...
534: The Rundown To Running Your Own Construction Business
July 28, 2023 12:30 - 13 minutes - 13.9 MBThis Podcast Is Episode Number 534, And It's About The Rundown To Running Your Own Construction Business Getting your construction business up and running and making a profit is usually much more complicated than it sounds. So let's focus on honing the skills you'll need to make it happen by acquiring these yourself or consulting professionals to help you. What it means to be your own boss Being your own boss might sound like it is the ultimate ticket to freedom and financial success...
533: Finding The Right Construction Talent And Common Onboarding Mistakes
July 21, 2023 12:30 - 13 minutes - 14.2 MBThis Podcast Is Episode Number 533, And It's About Finding The Right Construction Talent And Common Onboarding Mistakes As a business owner, you know the right people are crucial to your construction company's success. The best employees can help you achieve your business goals, improve productivity, and drive growth. But finding the people best suited to your team can be daunting, and sometimes it's easy to hire someone who seems okay rather than taking the time to find the best fit. ...
532: Adapting Your Construction Business To A Slower Economy
July 14, 2023 12:30 - 12 minutes - 12.8 MBThis Podcast Is Episode Number 532, And It's About Adapting Your Construction Business To A Slower Economy It's hard to go a day without reading something in the news about the state of the economy. Whether it's interest rates rising or the cost of living, there's no getting around the fact that in 2023 there are many doing it more demanding than a few years ago. But while there are some economic challenges for individuals and businesses, it's important not to go too far down the rabbit ho...
531: Cultivating Construction Company Productivity Through Staff Training
July 07, 2023 12:30 - 12 minutes - 12.7 MBThis Podcast Is Episode Number 531, And It's About A Guide To Building A Solid Construction Company Marketing Plan When it comes to the construction industry, employee training and development is crucial for success. Providing employees with the necessary skills and knowledge can make their work more efficient and effective, leading to higher-quality results and increased productivity. From safety training to technical skills development, a variety of areas can be focused on in constructio...
530: How To Manage Your Construction Company Payroll Effectively
June 30, 2023 12:30 - 12 minutes - 13 MBThis Podcast Is Episode Number 530, And It's About How To Manage Your Construction Company Payroll Effectively Payroll is one of those things that starts simply enough. You start your construction business and hire a few employees, and things tick along. It's straightforward enough to keep everything in line at first, but what happens to most companies is… they grow! This is a great thing, but it also means that payroll becomes more complicated. As such an essential aspect of your busin...
529: A Guide To Building A Solid Construction Company Marketing Plan
June 23, 2023 12:30 - 11 minutes - 11.9 MBThis Podcast Is Episode Number 529, And It's About A Guide To Building A Solid Construction Company Marketing Plan As a contractor, having a solid business plan is essential for growing your company and attracting new clients. If you're serious about getting the best value you can for your marketing budget, you'll need to develop a marketing plan. One of the first steps is to identify your target audience. Who are your ideal clients? What are their needs and pain points? Once you unders...
528: Construction Accounting Concepts You Can Benefit From Today
June 16, 2023 12:30 - 12 minutes - 12.9 MBThis Podcast Is Episode Number 528, And It's About Construction Accounting Concepts You Can Benefit From Today As a small business owner, you know that managing your finances is crucial to the success of your business. But with so many accounting principles and practices, it can be challenging to know where to start. That's where we come in! This guide will break down the essential accounting principles that every small construction business owner should know. We'll discuss how these pr...