630: Small Business Administration - Essential Strategies for Contractors
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
Release Date: 05/30/2025
631: Proven Strategies For Attracting Quality Construction Clients
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 631, And It's About Proven Strategies For Attracting Quality Construction Clients As a construction business owner, you already know that winning new work is the lifeblood of your company. But not just any work—what you need are quality clients: the kind who pay on time, respect your expertise and give you the types of jobs that grow your bottom line. As construction accounting and bookkeeping specialists, we've worked with dozens of contractors who struggle with the same thing: they're busy, but they're not profitable. Often, the root of the issue isn't in their...
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630: Small Business Administration - Essential Strategies for Contractors
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 630, And It's About Small Business Administration - Essential Strategies for Contractors Running a small business is exciting, but let’s be honest, managing the admin side of things can feel overwhelming. Between keeping financial records, looking after daily operations, and ensuring compliance with tax laws, it’s easy to feel buried under endless to-do lists. But here’s the good news: with the right strategies, small business administration doesn’t have to be a headache. Here are some practical steps to streamline your business admin, save time, and boost...
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629: How To Optimally Allocate Resources For Construction Business Growth
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 629, And It's About How To Optimally Allocate Resources For Construction Business Growth In the competitive construction industry landscape, efficient resource allocation is a fundamental pillar of success. Construction business owners like you face the dual challenge of meeting deadlines while adhering to budget constraints, making effective resource management essential. As a business owner, you understand that growth doesn't just happen – it takes smart decisions, dedication, and a clear plan. One of your most critical decisions is allocating your...
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628: Efficient Payroll Implementation For Construction Business Owners
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 628, And It's About Efficient Payroll Implementation For Construction Business Owners mplementing an effective payroll system is crucial for construction business owners, as it directly impacts project management, employee satisfaction, and overall financial health. Given the complexities of the construction industry, including varying pay rates, overtime requirements, and the need for certified payroll reports, developing a streamlined payroll process is essential. Here are some steps to consider: 1. Determine Payroll Needs: Assess the size of your...
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627: The Essential Benefits Of A Purchase Order System For Contractors
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 627, And It's About The Essential Benefits Of A Purchase Order System For Contractors Running a small business is no small feat. Every purchase, every invoice, and every supplier relationship counts. But as your business grows, so does the complexity of managing procurement. This is where a Purchase Order (PO) System can help. The importance of a POS for contractors cannot be overstated. In the fast-paced and often unpredictable world of construction, managing resources effectively is crucial for the success of any project. It is a fundamental tool that...
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626: From Chaos To Clarity: The Right Construction Job Management System
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 626, And It's About From Chaos To Clarity: The Right Construction Job Management System Running a business involves countless moving parts, which can feel overwhelming. From managing projects and keeping the team on the same page to ensuring profitability. Have you ever sent an email about a critical update only to find that team members missed it? With a job management system, those headaches disappear. Given the industry's complexity and unique challenges, effective job management is crucial for construction contractors. Managing multiple projects,...
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625: Better Practices For Meeting Client Expectations In Construction
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 625, And It's About Better Practices For Meeting Client Expectations In Construction When hiring a construction contractor, clients often have a clear set of expectations that significantly influence their decisions. These expectations encompass many factors, including the quality of artistry, communication skills, adherence to timelines, and budget management. Picture a homeowner named Sarah. Excited and anxious, she embarked on renovating her old farmhouse. She understood that choosing the right contractor was crucial. After researching and meeting...
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624: Trading For Sales Vs. Trading For Profit In the Construction Business
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 624, And It's About Trading For Sales Vs. Trading For Profit In the Construction Business Times were tough, so Remodeler John decided to lower prices below those of his competitors. He promoted a charge-out rate 20% below the industry average, explaining that his overheads were lower than those of larger companies. The turning point came after advice from his mentor. "You're selling yourself short, John," said the mentor. "With your qualifications and experience, you should charge at least as much as other businesses – if not more. I understand your marketing...
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623: The Art Of Giving And Receiving Constructive Criticism In Construction
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 623, And It's About The Art Of Giving And Receiving Constructive Criticism In Construction Think about the last time you gave or received feedback. Did it inspire growth and improvement or leave someone feeling deflated? When done right, constructive feedback is a powerful tool for driving success. But it's a fine line – getting it wrong can do more harm than good. For business owners, managers, and team leaders, effectively giving and receiving constructive feedback isn't just a nice skill; it's a necessity. Feedback shapes stronger teams, builds trust, and...
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622: Identifying Gaps To Improve Your Construction Business Marketing
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 622, And It's About Identifying Gaps To Improve Your Construction Business Marketing Visibility is essential for your handyman or contracting business for several key reasons. Effective marketing helps your company stand out in a competitive market, and promoting your services can help you reach a wider audience and become known in your community. Potential customers are more likely to hire someone they have heard about or seen advertised. This credibility is crucial for a service-based business like yours, where customers rely on reputation. Sharing content like...
info_outlineThis Podcast Is Episode 630, And It's About Small Business Administration - Essential Strategies for Contractors
Running a small business is exciting, but let’s be honest, managing the admin side of things can feel overwhelming. Between keeping financial records, looking after daily operations, and ensuring compliance with tax laws, it’s easy to feel buried under endless to-do lists. But here’s the good news: with the right strategies, small business administration doesn’t have to be a headache.
Here are some practical steps to streamline your business admin, save time, and boost productivity, leaving you with more energy to do what you love – whether it's working at the jobsite or growing your business!
Why structure is the foundation of success
Think of admin tasks as the backbone of your business. If these tasks aren’t handled regularly and properly, things can quickly spiral out of control. Staying on top of your admin enables you to see how your business is truly performing, reduce legal risks, and ensure everything runs smoothly.
- Automated Bookkeeping: Track income and expenses without lifting a finger.
- Payroll Made Simple: Handle staff payments quickly and accurately.
- Real-Time Insights: Monitor cash flow and performance at a glance.
Popular tools like Xero or QuickBooks are ideal for small construction businesses seeking to streamline administrative tasks. And the best part? They store everything digitally, ensuring you’re audit-ready at any time.
Go digital with your records.
Paper receipts and ledgers are so last decade. Not only do they accumulate unnecessarily, but they’re also at risk of being lost or damaged. Transitioning to digital records is a crucial step toward administrative efficiency.
Here’s how to make it happen:
- Scan and Upload Receipts: Use mobile apps to digitize paper invoices.
- Cloud Storage: Securely store records online for easy access and backups.
- Spreadsheets or Software: Use spreadsheets for basic tracking or invest in platforms that allow you to tag and code transactions instantly.
Digital records reduce clutter and make year-end tasks, such as taxes, much easier.
Breaking admin tasks into daily, weekly, monthly, and annual routines will make them feel more manageable. Treat them like habits – they may be small tasks, but they add up to make a significant impact.
Daily Tasks
Devote just 15–20 minutes a day to knock out small but essential tasks like:
- Checking emails and responding to client queries.
- Logging sales and expenses into your accounting software.
- Scanning new receipts or invoices.
Weekly Tasks
Dedicate time weekly to review your business’s operational health:
- Pay suppliers and review outstanding invoices.
- Reconcile accounts to ensure everything has been logged correctly.
- Schedule social media or post updates to engage your audience.
Monthly Tasks
At the end of each month, set aside time for:
- Payroll processing (if you have employees).
- Reviewing inventory levels and replenishing stock.
- Analyzing your profit margins or hitting sales targets.
Annual Tasks
The big picture matters, too! Annually, focus on:
- Preparing your taxes (or outsourcing them).
- Reviewing your business plan and setting goals.
- Evaluating ongoing contracts, insurance, or subscriptions.
Breaking tasks into bite-sized chunks will help you stay on track and avoid falling behind.
Tip: Set calendar reminders to stay on track!
Pro Tip: Ask us about our "Five For Five at Five"
When to consider outsourcing?
If the admin is still consuming too much of your time, outsourcing can be a game-changer. Hiring a virtual assistant, part-time administrator, bookkeeper, or accountant can free up your schedule for high-impact tasks.
Here are some options to consider:
- Virtual Assistants can handle tasks such as appointment scheduling, data entry, and email management.
- Accountants and bookkeepers can ensure accuracy and compliance with tax laws, saving you from costly errors.
- Freelancers or part-time administrative staff can step in as needed without the cost of hiring full-time employees.
Outsourcing doesn’t just reduce your workload – it also gives you peace of mind that specialists are handling complex tasks.
The key to effective administration in your construction business lies in consistency.
Use Digital Tools: Leverage technology to stay organized and automate repetitive tasks, from invoicing to document management.
Establish Routines: Make your administrative tasks part of your daily or weekly habits to prevent them from piling up.
Seek Expertise: Don’t hesitate to get help when necessary. Whether through software or professionals, utilizing available resources can free you to focus on your core business.
By implementing these practices, you can establish a foundation for efficient operations and enhanced profitability in your construction business. If you’re looking for assistance in streamlining your administrative processes, don’t hesitate to reach out! Whether you have questions about your finances or need guidance on better practices, I am here to help. It’s time to work smarter, not harder.
About The Author:
Sharie DeHart, QPA, is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]