Financials for a building company are completely different to other businesses, so we completely break it down and make it simple for you and your accountant to understand.
Your financial position is the indication of how successful your building company actually is, so it’s crucial for residential home builders to understand their numbers.
If you want to be able to pull up a financial report at any time and instantly know the exact financial position of your building company, you need construction financials training.
When you understand your financials, you take full control of your building company and master your profitability and cash flow.
In turn, you’ll know exactly how much you need to make each month in order to break even as well the exact net worth of your building company.
Meaning you can easily set annual financial goals and ensure you’re pricing your jobs for profit.
And you’ll be able to make strategic cash flow decisions and plans for your building company’s growth.
Your job as the owner of a building company, is to spend a few minutes each month reviewing your financial reports and then move on with your day.
The Chartered Management Institute uncovered that 74% of businesses that monitor KPIs hit all of their growth targets.
It’s not just about signing more contracts, it’s about understanding your complete financial position, month-in and month-out.
And that’s why we provide extensive construction financials coaching at the Association of Professional Builders.
We’ll show you how to calculate the most important figure in a builder’s accounts, known as work in progress. Every single building company needs to calculate this figure in order to produce accurate financial reports that provide a clear picture of the financial health of their building company.
And we’ll guide you to identify the weaknesses in your building company by comparing the 12 most important KPIs against the industry benchmarks.
If you want to learn more about the Association of Professional Builders’ construction financial coaching, check out a free demonstration of APB Membership with the button below.