TCF856: Know Your Numbers

Knowing your number is essential for any contractor who wants to stay profitable, but it may be intimidating for many who don’t know how to do it properly. Tom is here to make it much more manageable and less daunting for you. He shares three important things you can do to make knowing your numbers much easier.

Episode Highlights:

[00:00] – Importance of knowing your numbers
[01:37] – Keeping your financials up to date
[02:15] – How to manage your finances: QuickBooks
[03:32] – Hire a bookkeeper
[04:18] – Have regular money meetings
[06:32] – Set and track KPIs (Key Performance Indicators)
[07:08] – Important KPIs to track
[08:57] – Job costing every project
[10:25] – Wrap-up


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