Episode 68 38 min
FINANCIALS

Three Profit Killers And How To Avoid Them

Your business is a “For-Profit Entity”. Profits are a slippery business though. Sometimes it can feel like what you made on paper and what is in your bank account don’t quite line up.

Your business is a “For-Profit Entity”.

Profits are a slippery business though.

Sometimes it can feel like what you made on paper and what is in your bank account don’t quite line up.

Sometimes top-line growth doesn’t translate to bottom-line growth.

And sometimes it’s only a few expense categories on our P&L that are giving us all the headache.

Listen to the full episode and we’ll show you where and how contractors most commonly destroy their year-end profits

Episode Highlights:

  • Why it’s so easy for your overhead efficiency to spiral out of control and the best way to track your overhead deliverables
  • The difference between managing expectations in your “Ditch Diggers” vs managing expectations with your more abstract roles
  • Managing increasing material costs and why you NEED to take action in your business to mitigate them and not just accept tightening margins
  • The two kinds of companies when it comes to addressing inflation and why one thrives while the other fails
  • Why writing off big expenses at the end of the year to offset your tax bracket is a bad move
  • How your ego can tank your financials if you aren’t very careful

Watch or Listen