Financial Management: Controlling Your Cash and Your Profits
You're In Business To... Make Money and Build Wealth!
Accounting is often referred to as the language of business. Bankers, insurance brokers, and accountants speak that language fluently.
To most contractors, accounting might as well be a language from another planet. They just don't understand one word of accounting. Do you?
You need to be aware that the number one thing bankers and insurance brokers look for when evaluating your qualifications as a client, is whether you appear to have sound financial control procedures in place. They use that gut instinct to guide their trust in your company. Let me share an example of their logic.
If your company can't produce proper financial statements within 30 days of quarter end, and reviewed statements within 45 days of year end, they assume your financials are bogus. Not real. Not worth risking money against. History has taught them well.
A business that can spit out it financials quickly almost always has legitimate numbers. And that also usually indicates a well-run company.
They know how difficult it is to bring a balance sheet, income statement and cash flow statement into balance unless the data you have is complete and accurate.
The better your financial control system, the better the odds your business is on solid financial ground. You need systems for:
- Developing relationships with bankers.
- Developing relationships with bond and insurance agents.
- Qualifying and evaluating your CPA.
- Getting the proper business licenses.
- Processing payroll.
- Making scheduled federal and state tax payments.
- Managing your cash.
- Verifying money is not being improperly removed from the company.
- Verifying that suppliers' bills are legitimate.
- Collecting late receivables.
- Paying bills on time.
- Paying employees correctly and on time.
- Filing liens and claims.
- Collecting employee information.
- Sending out 1099s.
- Getting the proper insurance coverage.
- Verifying lease terms and payments are proper.
- Building and managing your credit line.
Thank You - for stopping by.
May your construction business bring you everything you dream of.
Your friends and champions,
Ron Roberts and Guy Gruenberg,
The Contractor's Business Coach
www.ContractorsBusinessCoach.com LIMITED TIME OFFER
Only $19.98 per Month!
Curious? Learn More
Inside you'll learn how to grow your commercial construction business - confidently, predictably and profitably.
By joining our club for commercial trade contractors, you will learn...
- 3 magic questions that close the sale.
- THE number that gets workers moving faster than you thought possible.
- Business strategies that work..and those that won't.
- How to find great paying clients.
- An employee bonus plan that motivates superior performance.
- The TRICK to managing your business from your vacation home.
- And Finally - how to build a business worth a million(s).
We're not holding anything back. We give you ALL the answers. We walk you through the systems. And we make it ridiculously cheap. All with a 30-day money-back guarantee.
Here's what happened to one member shortly after joining. It could happen to you too.
Ron,
Thanks for your call last week. Over the weekend I signed up and listened to a bunch of the sales discussions. It got me fired up and I ended up drafting a sales process with scripts and what to accomplish during a call. This week I will send customers our newsletter and following up with calls.
Cheers,
Mike
Take a RISK-FREE 30-Day Test Drive
Our business systems help you:
- Keep your crews in budget and on time.
- Let you take control of your year-end income.
- Make you an employer-of-choice that will draw "A Players" like flies.
- Leave you with a business that lets you take long vacations without risking your personal wealth and reputation.
We talked industry insiders into explaining how to work with your bank, lower your insurance rates, and increase your bond capacity.
We're putting it all out there for you.
All memberships come with a
30 day money-back satisfaction guarantee.
NO RISK IN JOINING
After hearing from so many contractors who felt they couldn't afford our hands-on coaching, we decided to do something NO ONE ELSE HAS BEEN WILLING TO DO - make all our PROVEN SOLUTIONS available online.
They are the EXACT SAME skills and solutions we teach our coaching clients to use, the ones who pay us $250 an hour and $2,500 a day. YOU get it for a fraction of that.
Burn our presentations to a CD or IPOD and listen to them as you drive from job to job, sales call to sales call, and meeting to meeting. Put that windshield time to work...on your business!
All for the incredibly low price of $39.99 $19.98 a month!
LIMITED TIME OFFER
Only $19.98 per Month!
Click Here To Join
Why charge only $39.99 $19.98?
We know that the number of contractors who need assistance FAR exceeds our capacity to provide it with our hands-on help. We felt it was unfair to keeping such valuable guidance accessible only to our hand-picked clients.
Our FRC private club is our way of giving back to the construction community. Hopefully, you will take advantage of the opportunity.
We look forward to seeing you inside the club.
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