My Business On Purpose

Contractors are notorious for leveraging tomorrow’s money to pay yesterday’s bills…” robbing Peter to pay Paul.” We can look around and justify the practice, and yet we know deep down that it is a dangerous line to walk; a bit like an expensive game of musical chairs.  Eventually, the music does stop… or at least pauses. The most dynamic way to prepare for any event moving forward, whether it be growth, recession, boom, or bust, is to know your numbers. As you know your numbers, you also know there are two primary ways to affect cash availability in your contracting business; increase revenue and/or decrease expenses. Actually, I like to think it a better practice to increase revenue and manage expenses.   If you want to grow, you will likely have to spend more for that growth in the form of hiring, or increased investment in tools or resources to generate and deliver on that growth.   Here are a few methods for controlling costs in your Construction business. First, stop spending on things that don’t align w