Developing Accounting Systems That Work

Through the gate to running a profitable construction company

Through the gate to running a profitable construction company

You need an accounting system for your construction contracting or service business because you need data. There are three basic reasons you need data.

  • Because the federal as well as state and local governmental entities require it. And, let’s face it, running your construction contracting business from a prison cell would be much harder than any issues you’re currently facing.

 

  • Because banks or lending institutions, as well as bonding businesses require it. Loan officers have a certain protocol for approving a loan and without accurate, current records getting a loan could be like trying to find a warm, sunny beach at the north pole.

 

  • Because growing or scaling your business depends on how accurate your financial information is. Knowing the financial position of your construction business, what some call understanding “the language of business,” sets you apart from the large number of construction business owners who fail.

 

Having accurate information, things like cost and earnings, liabilities and assets, profit and loss gives you the business guidance you need to either stay the course or take corrective measures. Well, sort of.

When records and reports aren’t enough

We’ve found that many construction contractors know well the systems required in their select industry, yet when they begin dealing with the systems necessary to manage their financial data, they feel as if they’ve run into a brick wall.

Even those who’ve managed to chip away at the brick wall creating windows of financial understanding have usually only gotten to “records” and occasionally “reports,” thus they’re lacking the “analysis” portion of the financially healthy equation.

Crunching the numbers

That’s when including a professional from the accounting world becomes necessary for the welfare of your business.

These pros make sure you understand the meaning of the financial information. They’re interpreters of a sort. They help you learn “the language of business.” They’re great at helping you develop the systems which are necessary to put you in the driver’s seat.

Putting a gate in the wall

Guiding you to create a system for measuring and summarizing business activities, interpreting financial information, and communicating the results is how your professional accounting team puts a gate in that brick wall. A few of the things you can expect to gain from a capable accounting pro are:

  • Guiding you through the SaaS options
  • Developing a tech stack best suited to your needs
  • Determining where you may be losing money
  • Showing you which types of clients are offering the biggest returns on your efforts
  • Enhancing your decision-making capabilities through better understanding of the numbers

Going beyond the brick wall

Because Schulte and Schulte, LLC is a professional accounting service specializing in working with construction contractors, we help our clients develop and use accounting systems which serve both their legal and their managerial needs in the wild and wooly world of construction contracting. And, because we’re a Profit First certified firm we take them beyond having a nice set of records and put them on the path to having a vibrant and profitable business.

You can reach us Toll Free: 866-629-7735 or get in touch the easy way right here.

5 Simple Ways a Tradesman Makes the Mental Change to Become a Scaling Business Owner

 

Before we get to the 5 simple ways to work through the mental change let’s look at an example of how mental changes or growth require process.

Teaching your kids kindness

A friend of mine once commented she would like to be able to add “kindness” to a list of traits she could teach her young children. She would like to be able to jot “Teach Kindness” on the list, teach the kindness trait, then check it off.

If you have young children, or if you’ve simply been exposed to the darling little monsters, you probably already know teaching “kindness” is a long-term endeavor. Heck, sometimes as adults we find we must pick up where our parents left off, teaching ourselves to be kind, reminding ourselves of the merits of kindness. Somewhere along the way we find the teaching of kindness is a process.

Scaling your construction contracting or service business

Turns out, scaling your business is also a process – it isn’t something you can put on a checklist and then check off after it is completed. It isn’t a destination you can point to on a map.

Yet, scaling requires a purpose and a vision. As a matter of fact, in order to scale your construction contracting business, you must develop a scaling frame of mind. You’ll need to make the mental change from being a tradesman, to being a business owner, then to being a business owner whose business is profitably scaling.

5 simple things to practice through the process of becoming a scaling contractor.

  1. Set an example of trustworthiness for your employees and crew. Integrity – it goes a long way.
  2. Be flexible, very flexible – except when it comes to your core values.
  3. When new ideas, solutions, or concepts come your way practice thinking “maybe” rather than jumping directly to “no.”
  4. Begin instilling your “company culture” into your own thought processes as well as those of your employees. “Company culture” is how you pass on the “values” of your construction contracting business.
  5. Get in the habit of surrounding yourself with other successful and goal-oriented people. For example, join your trade association, hire great people, and select your service vendors well.

When you develop a scaling frame of mind you move beyond the bounds of your craft to the realm of successful business owner.

Owning then Scaling a Construction Contracting or Service Business

In the beginning you had to:

  • Figure out the legal, financial, and operational aspects of your business
  • Understand how to communicate and negotiate
  • Learn how to promote your business, yourself, and your products or services
  • Comprehend how to keep the accounts, stay organized, and run the office
  • Grasp the responsibilities of entrepreneurship

Now, you’re ready to scale

Not simply running with the big dogs – being a big dog. You’ve mastered so much already and the time has come to master even more. In fact, you’ll need to hone the above-mentioned aspects of starting a construction contracting or service business to a greater degree.

While it doesn’t hurt to know how to pick up the tools of your trade and apply them to good use what matters more is understanding the tools inherent to being a successful business owner.

Consider this

Which is more important?

  • Knowing how to cut a short board or knowing how to cut a meeting short
  • Knowing how to paint a room or knowing how to paint the picture which your potential customers need in order to purchase a painted room from you
  • Knowing how to twist the wrench or knowing how to twist out all the information necessary so you’ll be able to go above your clients’ expectations
  • Knowing how to celebrate your personal achievements or knowing how to celebrate the accomplishments of your crew
  • Knowing how to build then install a cabinet or knowing how to build then scale your construction contracting business

Mindset matters

It is perfectly acceptable to be proud of the skills you have and your ability to accomplish the various tasks associated with your particular trade. Those skills have likely played a great part in getting you where you are now.

And, if you’re going to scale your construction contracting business now is the time to build on the additional skills you’ve been learning all along. Not every carpenter, electrician, plumber, painter, or other tradesman has the where-with-all to become the owner of a business within their discipline. But, you do! Congratulations!

Because you’ve already accomplished much, it is only a small degree of difference to begin your journey of scaling your construction contracting or service business.

Let’s put it this way, we at Schulte and Schulte don’t believe in mumbo-jumbo about wishing or thinking your way to success. We do believe it takes hard work and the proper mindset. We further believe that, while “thinking you can” doesn’t always accomplish the task, “thinking you can’t” will always achieve its goal.

There is more to learn

In an earlier article, I talked about some things you should be doing when working ON rather than IN your business.

  • Planning
  • Hiring
  • Training
  • Leading the management team
  • Delegating
  • Presenting
  • Selling
  • Negotiating
  • Tracking results

If you’re not proficient at any of these skills, begin learning and practicing. Being the leader of an enterprise which is scaling is not an easy job, but it is certainly a rewarding one and one worth putting your best efforts into.

We at Schulte and Schulte are happy to stand beside you and work with you to aid you in scaling your construction contracting or service business.

Part 2 – 10 Qualities Needed for Scaling Your Construction Contracting or Service Business

If you missed part 1 with the first 5 qualities needed for scaling your construction contracting or service business you can find it here.

6. You will need to focus on helping others – on every side of the coin

Customers and potential customers

Think: What do they need? Perhaps information concerning what to expect when they hire you to perform a service for them.

How can you give it to them? Flyers, brochures, website, social networking sites.

Yet, always be on the lookout for ways to help your customers on a personal level. It may be as simple as bringing their newspaper to the door, giving a handwritten Thank You note, or defaulting to “yes” when presented with small, reasonable requests that customers make.

Employees and subcontractors

Think: What do they need? Maybe just some recognition.

How can you give it to them? Perhaps employee of the month incentives, maybe small rewards like gift cards, or something as simple as lunches or dinners to celebrate milestones or job completion.

If you need someone to help you learn what your employees need, then enlist the help of a person you know is good at noticing.

Colleagues and associates

Think: What do they need? It could be they need your help on a service project.

How can you give it to them? Answer “yes” and follow through.

“Sit downs” with your colleagues and associates are bound to aid you in determining what they need. Be sure to schedule these sit downs on a regular basis.

7. You must be obsessed with cash flow – because cash is king

We at Schulte and Schulte are excited to work with our clients to put an excellent system in place giving them the advantage of getting a clear view of their actual cash flow when taking a daily peek at their checking account balance, (we know you do it) and then gives them useful information.

8. You have to charge what you’re worth – without flinching

Charging what you’re worth is not only beneficial for you, but for others in your realm. Your family benefits. Your employees and subcontractors benefit. Your customers benefit.

Yep, your customers benefit.

  • They get excellent service
  • They get peace of mind concerning their decision to hire you
  • They get the wealth of knowledge and skill you’re able to provide them yourself or through your excellent and well trained employees.

You know things others don’t know. Put that knowledge to use and charge what you’re worth.

9. You should turn down jobs – not just because you’re busy

When something about a home owner or business owner makes your spidey senses tingle it is probably time to turn down their job.

When you run into someone who wants the job done cheap and fast and that’s not what you do, (see number 8 above) it is time to politely decline.

Once you know who your ideal client is, this step becomes easier, but it is good to pay attention to the fact that some jobs don’t pay enough in revenue, some jobs don’t pay enough in peace of mind, and some jobs . . . well, they’re just not worth it.

In whatever form it takes, you may wish to give this message to the person you won’t be working with after all.

“Dear Sir/Madam,

Thanks for the recent opportunity to quote your work. We feel that [company name] is not a good match for your project. We wish you well with your project.

Thank you.”

10. You will want to create a lasting legacy – because you want to benefit others

In this instance, I’m using the word “legacy” in its broadest sense. The legacy you leave behind (your construction company) may be managed by your children or by other people not related to you.

The important part is you will have created something meaningful, something that will benefit the lives of others now and in the future. Your family, your friends, your employees, your customers, your colleagues, your community will all be touched by the legacy you create.

If scaling your construction contracting or service business is something you’re serious about, we at Schulte and Schulte are serious about helping you.  Get in touch 480-442-4032 or Toll Free: 866-629-7735

10 Qualities Needed for Scaling Your Construction Contracting or Service Business

10 Qualities Needed for Scaling Your Construction Contracting or Service Business part 1

Being an entrepreneur in the construction field comes with a few challenges other entrepreneurs don’t face.

There are a lot of ideas concerning what it takes to be an entrepreneur. For example, you’ll hear things like:

  • You need to be motivated by challenges
  • You’ll have to be tenacious
  • You’ll need the support of your family and friends
  • You will be one who loves new ideas
  • You must see and fulfill needs
  • You should notice how things can be improved

And, those are all good ideas about entrepreneurship, (you’ll do well to heed them) yet there are 10 very specific qualities it takes to be an entrepreneur in the construction field, to be a construction contractor who is ready to scale.

  1. You need to get “shower ideas” – and act on them

Even if it means you need to bolt from the shower to call your superintendent to tell him the solution you’ve discovered concerning the nagging problem you been having with [you fill in the blank.]

Perhaps you need to keep one of those gizmos in the shower meant for writing on in wet conditions – although you’re more likely to make a few drawings then add a note to get true measurements.

Or, it could be you create a mantra in your head as you’re driving down the freeway, so you’ll still remember your great idea when you reach home. Therefore, you’ll have the basics of the good idea, and you can put it into action.

The main point is, no matter when (in the shower or not) you get ideas you’re willing to put the idea into action in order to make your construction contracting or service business better tomorrow than it was yesterday.

  1. You’ll have to love growth – in oh so many ways

The unique position in which you as a construction contractor find yourself is one in which growth; your own, your businesses, your employees, your community all meld together into one cohesive unit that turns out to be rather stunning.

As you and your employees work together to grow your business while being a part of the growth of your community there comes a moment when you can stand back and say, “I did that!”

It can start at the level of being able to say, “Because I and my team had the right system in place in my construction business, I took Joe Right from apprentice, to craftsman, to master craftsman, to supervisor.”

It might take the shape of understanding that because you and your employees showed up there are more families across your city who need not worry about how to stay cool or warm or protected.

Or, it could be you drive past the latest of your builds and see the finished project knowing you had an integral part of making sure that location houses a family, or provides a place of employment for many, or allows a space for medical personnel to care for patients, or improves the infrastructure of your city or state.

Growing your business is important to you, partly because you know you’re growing more than “just” a construction contracting or service business. You’re growing, your people are growing, your community is growing. Stunning!

  1. You need to understand you’re a leader – and lead the way

Whether or not you awaken in the morning thinking, “I’m a leader,” you really must possess the qualities of a leader if you’re going to pull this off. If you own a construction contracting or service business you’ve already taken a lot of steps in the leadership role.

Being THE leader means you’re the one with the vision of how your construction contracting business fits in the industry now, how it will look a year from now, and what it will look like in the long term.

You also have to be able to communicate the vision in ways that enlighten your potential customers, enable your employees, and empower you as well as your team to each next level.

You are the one who is creating the work culture for your employees, delegating, making decisions, encouraging your team, and (bottom line) working on your business, not in it.

It doesn’t matter if you know how to pick up and use the tools necessary to build for or provide a service your customers. You can and should get someone else to do that. It does matter that you know how to be an entrepreneur, how to use your financial reports to lead into the future, how to see the big picture and take the necessary next steps to scale your business.

You may wish to join a structured entrepreneur group where other members will be available as mentors or advisors concerning the specific issues you face as a business owner.

  1. You need to network with your colleagues – for their sake as well as your own

Let’s face it, people like doing business with people they like. Beyond that, when can you ever have too many contacts in your chosen field?

Join your trade association

Most trade associations host various conferences, events, and meetings on a regular basis. By getting involved you have an excellent place to make new connections. It takes more than just paying the membership fees, it takes becoming a recognized and trusted face. When you become known as the “go-to person” it just makes sense that when business opportunities do arise, so will your name.

Yet, if you live in a location where regularly attending meetings of your trade association (think – more than a 2 hour drive) requires too much time and travel you may want to consider the next option.

Join or develop a private group

I recently read about a fellow who had formed a private group which he said included eight to nine other subcontractors, developers, and a land broker. They call their group The Meeting of the Geniuses, and they get together every six weeks at a favorite (in his words) “watering hole to discuss what is going on and what we are working on at the time, and football, and cars, and…….”

The crucial aspect is they can support one another, discuss their problems or issues then talk about possible solutions.

Attend networking events sponsored by large contracting firms

When you’re invited to attend an event sponsored by a contractor for whom you’ve worked GO! It is a great opportunity to spend time getting to know other subs, suppliers, and vendors. Besides, there is usually food and drink on hand at these events.

Network on the job site

Don’t overlook the construction industry’s unique ecosystem of enmeshed, intertwined, and overlapping network of professional connections. Take time when you’re on the job site to check around for other subs. Who knows when a brief chat on a job site may lead to another job or a relationship which adds value to your construction company.

Maintain contacts

Having good relationships with former employers, coworkers, and subcontractors with whom you’ve worked in the past is a networking tactic worth the time and effort.

And, because most people do genuinely appreciate it when you seek them out with questions you have concerning their area of expertise you’re likely to get a good response when approaching them with your needs. BUT, more important than seeking them to solve your problem you may approach them when you have a connection you think they may be interested in or you’ve come across a solution you know they would appreciate seeing.

Your main networking goal

Your main goal when thinking about networking should be finding ways to help your new contact! Miss this important aspect of networking and the truth is you miss it all.  Don’t become the guy who interrupts conversations, thrusts business cards on everyone, talks incessantly about himself, and annoys the heck out of everyone.

Instead, be the guy who focuses on how he can help those he meets. The simple equation is when someone needs a contractor in your field and you’re the one he thinks of because he has been helped by you, and has seen what you’ve done for others he is most likely going to give you the call.

  1. You’ll have to surround yourself with advisors – who mean business

Getting the right business advisors in place as soon as possible helps any business grow. Getting the right advisors in place for your construction contracting business can make the difference concerning whether you live in the paycheck to paycheck lane, of if you move into the lane where the big dogs are running.

Some of the advisors you’ll need to consider are:

  • Attorney
  • Banker
  • Accounting Advisor
  • Information Technologist
  • Insurance Agent
  • Marketing Guru
  • Tax Preparer

Surround yourself with good people who offer good solutions to your bad problems.

Surround yourself with good people who are honest and have integrity.

Surround yourself with good people who aren’t afraid to stand up to you and let you know when you’re missing an important part of the picture.

There is more to come

Part 2 coming soon. We’ll present 5 more Qualities Needed for Scaling Your Construction Contracting or Service Business.

Build standardized processes – Prepare now for the future

This is the fifth in a five-part series concerning Steps to Scaling Your Construction Contracting Business. You can see the introduction to the series (with links to each article) by clicking here.

In his article for Forbes magazine, Eric T. Wagner, shares some insight gleaned from Kelsey Ramsden who is the president of Belvedere Place Contracting Ltd.  In 2012 and in 2013 Kelsey Ramsden, was awarded Canada’s #1 Top Woman Entrepreneur by Profit Magazine – a very prestigious award for a young, entrepreneurial, woman in the Construction Industry.

While Wagner’s entire article is worth reading, today we’ll focus on the fifth of eight tips on successful entrepreneurship shared by Ramsden — Establish Systems To Mesh With Your Goals.Smart entrepreneurs not only set goals — they build systems to support those goals. Ramsden admitted she started out doing it ‘totally wrong.’ Most of us determine what we want to accomplish, establish the time frame to get it done, and then work backwards to spread out the workload. But what’s missing is our system (a defined set of time set aside with the necessary tools to work toward the goal). It’s like wanting to lose 30 pounds (goal) by summer (time frame) and signing up for the gym membership (a tool); but not scheduling the one-hour daily appointment (your system) to do the workouts.

This is how (insert your company name here) gets it done

In its most basic form, establishing systems, building standardized processes means you’re saying, “This is how (insert your company name here) gets it done,” to your crew, to your staff, to your customers, and to your potential customers.

Think about it, flexibility can be the enemy of growth. Using an extreme example, suppose you hired a new guy to help in your painting business and he refused to use the spraying equipment which makes your painting jobs run more effectively and efficiently. What if he told you he is only willing to paint with a brush? If he was truly handy with a brush he could probably get the job done, but at what cost?

Standardized and repeatable

If you’re going to scale, you need to implement standardized and repeatable processes, with proper delegation. Yet, doing so is awkward, time consuming . . . and oh so worth it. We, at Schulte and Schulte, LLC are blessed to have an app which helps us build our growing library of standardized and repeatable systems for our accounting business. We use Aero which is a process building tool as well as a repository for each of the written systems we’ve created, are in the process of creating, and will create in the future.

But what about you, the general contractor, subcontractor, service and supply contractor, install specialist, or construction related entrepreneur?

There is an app for you too!

Knowify is what you need. It is a SaaS program for small to medium contractors to use to systemize their over-all processes.

Want to know more? Our Knowify Certified Advisors will work with you to garner the best benefits associated with using Knowify to aid in scaling your construction business through the use of standardized processes.

Your call to action:

Give us a call. We will help get you set up for a phone appointment, so you can get in the Know about Knowify. Toll Free: 866-629-7735

Build a foundation for financing options – Think expansion

This is part three in a five-part series concerning Steps to Scaling Your Construction Contracting Business. You can see the introduction to the series by clicking here.

Because you aren’t likely to be a trust fund baby, chances are great you’ll need to find a financing option to grow, expand, or scale your construction contracting business sooner or later.

And, if you need an infusion of cash “like yesterday” there are alternatives for finding folks who will help finance your business “like today.” But, if you’re willing to prepare now for future growth and expansion your opportunities for receiving better or more favorable terms are greatly increased.

With that said, now is the time to begin getting your ducks in a row.

Down to brass tacks

The folks who will consider loaning to you will be concerned with:

  • How long you’ve owned your construction contracting business
  • Your personal credit scores
  • The gross annual revenues for your business
  • Your businesses net annual profits
  • Whether or not you have collateral to back the loan

Ask yourself some questions

The initial part of the process will be understanding the kind of capital you need to support growth for your business. You’ll need to ask questions like:

  • How much?
  • When?
  • What for? (Whether you need the funds for payroll, materials, or equipment will likely affect not only your ability to find financing at all, it will also play a role in the rate of interest you’ll have to pay.)

More hard-hitting questions

No matter how much you need to borrow or how you’ll use the funds, there are other things to consider before applying for a loan.

  • What will the total cost be to repay? (principal, fees, interest)
  • How long will it take to repay?
  • What will be the amount of the monthly payments?
  • If you pay late or default, what will the penalty be?
  • What impact will the loan have on your total financial package?
  • Are you willing to put in the time to do the back-office stuff in order to get better rates or terms?

An excellent article from Purch, written by Karina Fabian, and titled Financing Your Construction Business clues you into an array of options available, including alternative lenders. Near the bottom of the article, Fabian gives a list of documents you’ll need to have ready when applying. Getting these documents together will likely take time and persistence, yet preparing now (before you need the funds) will pay off in the long run.

Your call to action:

Get your budget set up and rolling. Take the necessary steps to be sure your credit scores are the best they can be. Be sure your accounting records are up to date and clear. Begin compiling the documents suggested by Fabian.

Build Collaborations – Find and establish key relationships and networks

This is part one in a five-part series concerning Steps to Scaling Your Construction Contracting Business. You can see the introduction to the series by clicking here.

No matter where your particular sandbox is located there are times when you need to cooperate with others in order to get your sand castle built. Finding ways to establish connections that make sense boils down to the old report card standard, “Plays well with others.”

I can’t recall how many times my dad (who went from driving a lumber supply truck, to slinging both a hammer and a saw, to supervising major commercial construction projects) told me, “It’s not what you know, it’s who you know.” Dad worked that bit of wisdom – all the time.

Growing your construction contracting business is more than simply getting more and more customers; it is about growing alliances, meeting new people, forming partnerships, building networks. It’s about establishing and nurturing relationships.

Relationships come in all sizes

Some of the groups of people and organizations you’ll want to consider when deciding to establish relationships and networks are:

  • Service providers
  • Subcontractors
  • Former employers or coworkers
  • Professional associations
  • Service organizations
  • Suppliers
  • Customers
  • Present and past employees
  • Neighbors (both personal and professional)

Focus on helping others and facilitating connections

Whether you participate in coopertition (cooperation with your competition) or you offer pro bono services through a service organization, whether you form an alliance with a subcontractor whose business offerings compliment your own or you help align your supplier with a new customer, all along the way you’re putting in the building blocks which help establish you as a major player in the industry.

If your only thought is about how you can meet the next guy to sell to, you’ll miss out on a lot of relationship building opportunities. It takes time, it doesn’t happen overnight, and doesn’t usually fit well into a step-by-step plan of building collaborations. As a matter of fact, if you’re not a natural “connector” you’re likely to have to grow a pair . . . of ears.

Volunteer, be purposefully helpful, look for opportunities to help others and to reach out even if there is no obvious or immediate payback. It means going beyond the vertical ties or people in your immediate circle. When you purposefully expand your network, you open up your relationship base which becomes an excellent foundation for aiding you in scaling your construction contracting business.

Your call to action

This article on Small Business Trends offers some good advice concerning building solid, strong, lasting business relationships. It will give you some food for thought.

After you’ve read the article, begin to purposefully think in terms of building relationships and helping those with whom you come into contact on a regular basis. Be open to new opportunities to assist others in both small and large ways. Strive to be “that guy,” the one everyone knows can get things done – because he has connections. “Plays well with others,” really is a good thing, a good thing worth getting really good at.

5 (not so easy) Steps to Scaling Your Construction Contracting Business

This is the introduction to a 5-part series of articles presenting a primer concerning the basic steps you’ll want to take to scale your construction contracting business.

I hope you noticed, I’m not trying to snow you by saying scaling your construction contracting business will be easy. It will take effort, planning, and perseverance. It will take more than a desire to grow. It will take time. It will be hard. Yet, if you’re up to the task – it will be worth it.

Over the next five weeks we’ll look at five basic steps you can take to aid in scaling your construction contracting business. But before we get started with the steps, let’s get out on the golf course. Yeah, I’m that kind of gal – always looking for the fun first.

Getting really good at playing golf

Suppose you’ve been playing golf for a few years, and you’re pretty good at it. But, the time has come – you want to up the ante. You want to be better than “pretty good,” you want to be “really good” at playing golf. So, what is the first step you’ll have to take?

Getting rid of old habits

While you’ve been playing golf for a few years, the reason you’re only “pretty good” at the game is that you’ve likely slipped into a few habits that are OK for just messing around on the golf course, but aren’t the good habits you need in order to play a great game of golf.

So, you decide to hire a pro to take you to the next level in your game. You need someone to coach you into being a better player. A perceptive coach will not just build on the bad habits you have, or paper over the cracks of your weaknesses. First, he’s going to need to deconstruct your game, taking away the bad habits, getting rid of the ingrained postures and plays you have built into your game that are limiting it.

Your bad habits hinder you from taking your game to the next level. It would be foolish to bring them with you. You must jettison them. And this will take time.

But, it’s only getting worse

The first result of working with your pro, unsurprisingly, but to your initial dismay, is that for a while your game seems to get worse, not better. At this point you will likely be tempted to throw in the towel. But give it time. Slowly, imperceptibly, your game will improve. The fun will come back, and your new game will leave your old game in the dust.

And, you’re going to have to be brave. You must trust the process. You have to constantly turn your back on the old and refuse to cobble a game together with your old habits taking control.

It takes commitment

Start by committing to grow, deciding now is the time to scale your business. You need to want your construction contracting business to grow. You’ll need to create realistic growth targets and develop plans and concrete actions of how growth will be achieved.

Start building your building business

Over the next five weeks we’ll look at these important steps you can begin working on to build your building business.

1 Build collaborations – Find and establish key relationships and networks

2 Build a bigger business – Think big; act bold

3 Build a foundation for financing options – Think expansion

4 Build a broad management skillset – Work on your business, not in it

5 Build standardized processes – Prepare now for the future

So, what do you think? Should we put down these golf clubs, we’ve got some building to do.

 

CoConstruct: Custom Build and Remodel Software

In this monthly post, it’s my pleasure to introduce you to one of the many apps that we at Schulte and Schulte endorse and recommend to our customers.

As a firm of construction accounting specialists, we love to help companies in the construction industry with their books and finances, part of that help is finding different apps or software that can help our clients out. During this monthly feature, we take a look at several apps that we love at Schulte and Schulte, and dig a little deeper into our favorites.

This month, we would like to introduce you to CoConstruct.

CoConstruct is geared specifically for custom home builders and remodelers. This software is designed to include everything that goes into home building from initial client leads, all the way through punchlist and warranty work. The video above gives a brief overview of the software in action, particularly the financial setup of a project start. CoConstruct has a lot more features baked into it than we have time to get into here, but we want to highlight a couple of the features that we believe set CoConstruct apart from other similar apps and software.

Keep Your Clients Informed – “If the clients ain’t happy, ain’t nobody happy”
Keeping your clients informed as the project progresses is an essential part of any custom build, and CoConstruct takes a lot of the time involved in doing this off of your hands. Included in the software is a client-only web portal that shows them the information they are looking for; 24-7 access to selections, costs, photos, conversations, job calendar, and more. This gives them the opportunity to know exactly where the project is at, and also allows them to share progress photos and your work with their friends through social media, which translates to referrals for your company!

Improved Client Communication – Kiss the “he said, she said” goodbye
CoConstruct has patent-pending communication technology that allows all communication between your team, client, and trade partners to be found in one place. This allows everyone involved in the project to be on the same page, and if changes happen then everyone involved will be in the communication loop without having to worry about forwarding emails, IMs, or text messages to all of the relevant parties.

Finish Strong – Leave a great last impression on your clients
CoConstruct makes it a priority to see your client’s projects through to completion, even while you are moving on to new jobs. You won’t get caught dropping the ball with your clients and subcontractors regarding warranty work with the reports and reminders that will come up, months and years down the line. It’s the “little things” like this that can make or break a great referral for your company, and CoConstruct has your back.

We love CoConstruct, and would like the opportunity to share it with you. If this sounds like an app that you would be interested in checking out, please let us know!