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 Resources: 💰 You didn’t become a contractor to struggle financially. Download our worksheet and start calculating a 50% gross profit on every job. It’s time to get your shit together! https://thecontractorfight.com/50/  💸 Grab your copy of our FREE Contractors Guide to Spotting Cheap Prospects here: https://thecontractorfight.com/cheap  == Join us in BATTLEGROUND == Everything your contracting business needs in one comprehensive program with three main focus areas: Leadership, Communication, and Numbers. For more info, check out: https://TheContractorFight.com/Battleground  == Get your questions answered and connect with other contractors building stronger businesses in The Contractor Fight: https://thecontractorfight.com/facebook  == Grab the Gear == https://gear.thecontractorfight.com/  == Find Us on Social Media == YouTube: https://www.youtube.com/c/TomReber  Instagram: https://thecontractorfight.com/ig  == Rate the Podcast == Help your fellow contractors find the podcast! Please leave a rating/review!  Apple Podcasts   Spotify