Contractors: you started your company to serve your family. You hustled hard and grew your revenue.
Ok, so…where is all the profit?
After all of the late nights, working weekends, and missed moments with your kids
— you are left questioning what’s going on with your finances and what you are doing wrong.
But did you know “82% of businesses that fail do so because they run out of cash”? (Robert Gauvreau, FCPA, Author, The Weathy Entrepreneur)
And in the large average job size world of custom home building, cash flow problems are especially magnified. You know, ‘mo money mo problems.’ RIP, BIG
We brought our friend and financial guru, Bob Gauvreau, in to discuss the top 5 cash flow problems to watch out for. Give yourself a report card — because avoiding them is simple once you know what to look for.
š Knowing is half the battle, so here are some FREE Cash Flow Management tools to help you implement better financial controls. Don’t start from scratch; steal BTA’s templates instead.
The truth is, if you are a “financial freewheeler,” you’re gambling with your business’s future.
BONUS: this is an 8-min excerpt from a longer discussion; if you want more education on budget management, overhead tracking, and profit benchmarking… check out the full session here.