EP16: Are You Checking Your Vitals?

Hammer and Grind Podcast EP16Are You Checking Your Vitals?The single most important KPI (Key Performance Indicator) to the success of your business - is Job Costing! That being the case, why is it that the mass majority of construction companies ignore this vital number? Possibly because a great majority of contractors come up in the construction business as a craftsman and become business owners along their journey without any training, guidance, or business assistance. Essentially jumping from the frying pan into the fire! Tracking how much profit you make on each and every project is like checking your vitals. Businesses either live and thrive or sink and die by this KPI.If you are not tracking your job costing on your projects it is probably better that your business sinks and dies quickly so you don’t lead a long, painfully struggling, business hell - for decades to come.Keeping a close eye on your Job Costing can tell you if your estimating is weak or strong, if your production division is efficient or worthless, if your employees are stealing, if your business is growing or shrinking, if you are in a deficit decline or surplus growth pattern, it can determine if your crew deserves a bonus, raises, or a swift kick in the @$$! Job Costing lets you know if you are winning or losing! Most contractors have a competitive DNA to some degree, so why is it that a majority of them do not do job costing?Is it because they don’t care, they don’t know any better, they are stupid, maybe ignorant, or is it because they secretly hate their business and want to lead a miserably unfulfilled, uncertain life?You tell me. Are you Job Costing?Profit Club – Paid Coaching group www.hammerandgrind.com/theprofitclubFacebook group - https://www.facebook.com/groups/thecontractorprofitgroupFacebook – HammerandgrindpodcastInstagram - @hammerandgrindpodcastBrad’s Instagram - @teamhandy - Brad HuebnerEric’s Instagram - @theponddigger – Eric TriplettWebsite – www.hammerandgrind.com  Hosted on Acast. See acast.com/privacy for more information.