Are you charging enough? Do you understand your P&L statement? Are you overwhelmed by your financials?
here are tools to help you understand your financials and build a solid business strategy!
Building Your Business Budget
This 5-session course will empower you to create your BREAKOUT Business Budget. You’ll leave this course with an actionable, organized, realistic, and reachable plan, with a clearly understandable budget that you can work from!
FINANCIALS / BUSINESS STRATEGY:
- Review the way you currently have QuickBooks set-up. I’m not an accountant, but I’ve reviewed a lot of contractor Profit & Loss Statements
- Review your Profit & Loss Statement in detail – Review percentages/margin results – compare/contrast them to what I’m seeing as best practices in the industry
- Offer suggestions on any reorganizing of the Profit & Loss Statement
- Highlight areas that we can improve or that we need to look into further
- Review your mark-up and update/adjust
- Ensure that we have clear Job Cost Reports set-up in QuickBooks. Discuss/plan for improvements that need to be made in order to get these in place for every job that we complete
- Goal here is to make sure we are seeing how profitable each project is (quoted hours vs. actual hours, etc.)
- Discuss/get clear on 1-year business goals and longer-term (5+ year) business goals. Along with other questions:
- Do you want to grow/stay-the-same?
- More employees or not?
- Goal for what you’d like to earn from the business, etc.
- We’ll talk through all of these topics and as we are doing so, will create a document that will be your clear 2019 Business Plan that you’ll make decisions, track progress, and take actions based on.
- Prepare (In QuickBooks) an annual Business Budget – dig into each line item and discuss. Deliverable is an organized, realistic, and clearly understandable budget that you can plan/work from