When I ask a construction business owner or manager: “Why are you in business?” He usually answers: “To make a profit.” Then I ask: “How much profit do you make?” Most of them don’t really know.
Great article by George Hedley of Construction Business Owner on the importance of data in managing your business to truly know if you are postioned to make a profit.
I particularily like point number 5. “Next, you must have an accounting system and software to track your actual job costs or work task.” He goes on to say, “If you don”t know what it costs to build it is almost impossible to ever make any money!”
Hmmm, sounds like ICT Tracker would be a good system to start with. Read George’s complete article here.