One of our best episodes yet!
This is a crazy story about contractor X and how everything in his business pointed to great profitability, yet at the end of the day, the money wasn’t in the bank. In fact, there what was left was a big number, written in RED. He was losing money and doing it fast, the problem was, he didn’t know how he was losing it, where he was losing it from and worse, how he could fix it! Perhaps you can relate?
Contractor X’s problems are actually very common in the construction industry, and luckily, relatively easy to fix too.
In this episode of RBB with expert Construction Accountant Diane Gilson, we’re going to explain how it is possible to run seemingly profitable jobs but to still wind up losing money.
Diane gave us some mind blowing examples that will show you exactly what your “True Costs” of contracting are and how to get your margins where you need them to be.
You’ll also discover:
Why putting your employees on overtime isn’t as big of a cost as you may think
How to accurately decide how much an employee is really costing you
How to determine if you can add benefits and how much you can add
And much more.
Listen to this episode closely and rewind if you have to, you won’t want to miss a second.
More from Diane Gilson – Build Your Numbers