Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

This Podcast Is Episode Number 0365, And It's About How To Manage Your Construction Firm's Cash Flow During Crisis Dealing with unexpected cash-flow difficulties, even if you're working hard to avoid shortfalls, is hugely distracting. A formerly reliable client might take much longer to pay than anticipated leaving you out of pocket. If you're starting a construction business, it could simply be taking longer than expected to turn a profit in these trying times.   Red light warnings Develop red light systems to warn you automatically if something needs querying: Check as early as possible if leads, orders, or sales, fall below a certain threshold, or a substantial customer ends their subscription (recurring service). Pay attention to your Key Performance Indicators. Make sure you have regular feeds of how your business is performing. You also need to know about any substantial invoices that are in dispute, particularly overdue debts and clients exceeding their credit limits. Building productive relationshi