630: Small Business Administration - Essential Strategies for Contractors
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
Release Date: 05/30/2025
642: How To Know If It's Time To Raise Your Rates Without Losing Clients
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 642, And It's About How To Know If It's Time To Raise Your Rates Without Losing Clients A Practical Guide for Contractors Who Want to Stay Profitable—Without Scaring Off Business If you're like most small construction business owners, you've probably had this thought: "I'm working non-stop, but I'm still barely keeping up—should I raise my prices?" And then right after that, the fear kicks in: "What if I lose clients? What if no one can afford me anymore?" As construction bookkeeping specialists, we hear this frequently. Contractors are nervous to raise their...
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641: A Week In The Life Of A Profitable Contractor- Habits That Pay Off
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 641, And It's About A Week In The Life Of A Profitable Contractor- Habits That Pay Off If you're a small construction business owner, you know what it feels like to be busy but not consistently profitable. You're running from job sites to supply runs to client meetings, answering calls at night, and still wondering where the money went at the end of the month. Here's the truth we see every day as construction bookkeeping specialists: The most successful contractors aren't just working harder—they've built weekly habits and systems that keep the business running while...
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640: How To Build Systems That Support Your Construction Business
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 640, And It's About How To Build Systems That Support Your Construction Business Turning the 3 Pillars—Marketing, Accounting, and Production—Into Repeatable Routines(without adding more work) You've done the hard part—you're running a construction business, getting jobs, and turning out quality work. Perhaps you've even begun to refine your marketing, job costing, and project delivery strategies, thanks to the three pillars we've discussed: Attracting the Right Jobs, Controlling the Money, and Delivering Projects Profitably. But here's the next step that will...
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639: Pillar 3 - Delivering Construction Projects Profitably
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 639, And It's About Pillar 3: Delivering Construction Projects Profitably A Construction Bookkeeper's Guide to Smarter Production for Small Contractors You've done the hard work: marketed your services, landed the job, and priced it to make a solid profit. But here's where a lot of small construction businesses lose money—even after doing everything right up to this point. That moment is project execution—or what we in the business world call production. As construction bookkeeping specialists, we've seen many jobs transition from profitable to painful...
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638: Pillar 2: Controlling The Money - Construction Accounting And Bookkeeping
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 638, And It's About Pillar 2: Controlling The Money - Construction Accounting And Bookkeeping How Smart Money Management Keeps Your Business Profitable and Stress-Free When most small construction business owners think about success, they envision a steady stream of jobs, high-quality work, and satisfied clients. But there’s another side to the story that often gets ignored: the financial health of your business. And here’s the truth we see every day as construction bookkeeping specialists: Even skilled contractors with full calendars can run into cash flow...
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637: Pillar 1: Marketing - Attracting The Right Construction Jobs
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 637, And It's About Pillar 1: Marketing - Attracting The Right Construction Jobs A Guide for Small Construction Business Owners (from Your Bookkeeper's Point of View) As construction bookkeeping specialists, we spend a significant amount of time analyzing the numbers behind small construction businesses—everything from job costs to cash flow to profit margins. However, here's the truth most contractors don't hear enough: Your profitability starts before the job even begins. Yes, it starts with the jobs you say yes to—and more importantly, the ones you should start...
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636: The Three Pillars Of A Profitable Construction Business
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 636, And It's About The Three Pillars Of A Profitable Construction Business Running a small construction business is no small feat. You're on job sites one minute, sending invoices the next, and trying to line up your next project after that. It's a constant juggling act—and without the right systems, it's easy to fall behind or burn out. As construction bookkeeping specialists, we work with small contractors who are incredibly skilled in their trade but often feel overwhelmed when it comes to running their businesses. And over the years, we've noticed a pattern:...
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635: The #1 Reason Contractors Lose Clients: Poor Invoicing—And How to Fix It
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 635, And It's About The #1 Reason Contractors Lose Clients: Poor Invoicing—And How to Fix It As we celebrate Independence Day and the spirit of hard work and craftsmanship that built our country, it’s the perfect time to think about strengthening your construction business, so you have the freedom to grow and succeed. When most contractors consider why they lose clients, they often blame price competition, slow projects, or a client’s unrealistic expectations. But in my experience as a construction bookkeeper, one of the most common—and preventable—reasons...
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634: Financial Red Flags Your Construction Company Can't Afford To Ignore
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 634, And It's About Financial Red Flags Your Construction Company Can't Afford To Ignore As a construction bookkeeper, I've had a unique vantage point, watching countless projects unfold from the first bid to the final payment. While the hammers and blueprints are the visible signs of progress, it's the numbers behind the scenes that truly tell the story of a company's health. And let me tell you, those numbers often whisper warnings before they start screaming. Small business owners in the construction industry are incredibly busy. You're juggling bids, managing...
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633: Cash Is King But Do You Have A Crown? Why Cash Flow Trumps Profit
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode 633, And It's About Cash Is King But Do You Have A Crown? Why Cash Flow Trumps Profit
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]