10 Financial Strategies for Commercial Construction Companies to Maximize Cash Flow and Profits

By Fabian Vartez

Having a good financial strategy is essential to achieving your goals. They are not achieved only with desire, but we must draw a strategy to increase the chances of achieving them.

 

It is very important to advise us when drawing up a financial plan to ensure its feasibility. To have a good financial strategy, we must put it together correctly. We can open the strategy in three basic components, VISION, PLAN, AND EXECUTION.

 

Long term: Vision

First and foremost, and as a fundamental piece, it is to have a clear vision of the status that we want to achieve financially. This vision is more related to the quality of life that we want to lead than economic or material quantities and magnitudes. Once we know the life we ​​want in the long term, we can draw a medium-term strategy. Just having a long-term vision is already a big step forward. Incredibly, most people live their lives without one, and the consequences of not having one are total unpredictability and economic uncertainty. Not having a long-term vision is the biggest risk we can take.

 

Medium-term: Plan

The plan is the path we must travel to achieve our goals. It is the roadmap, the investments of our time and our money. This is a very critical stage since it is essential to trace a path with several stages that will take us to our destination when we want. We determine where we put our capital, be it money or professional time. The plan is subject to constant changes. We must invest our attention the most and where we must most seek advice. We should never adjust the medium-term plan without analyzing the long-term compatibility with our vision.

 

When you are done reading this book, you will have gained a lifetime of experience in just a few short hours. The stories are interesting to follow, and the challenging concepts have been made easy to understand. So get ready to broaden your horizons and adjust your expectations because you are in for one hell of a ride!

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• Language: English
• Publisher: Editorial Atelerix Creative Quill
• Release date: Apr 18, 2022
• ISBN: 9798201669980

Fabian Vartez

Hi! I am a modern Mexican writer with very creative ideas; I have many experiences to tell and many stories to tell; I have had a life that has had too many ups and downs throughout my youth. Additionally, I am a very modern person, all the time, and I am reading, watching videos, series, movies of all kinds, and amazed at how wonderful technology is. I hope to see you reflected on all my knowledge and experiences throughout all my books. Soon I will be publishing more and more as time goes by. I have many finished works, but the details and final editions are missing.

Book preview

Introduction 3

Improving your cash flow from managing your accounts receivables 4

How do accounts receivable impact the finances of the company? 5

How can I get my clients to pay on time? 6

Improve your profitability by tracking your job cost. 7

Get paid for those change orders. 9

Predictable income from accurate job estimates. 11

Speed up the close-out process and receive your retention revenue. 13

Know your company’s health by maintaining accurate financial statements. 15

Balance sheet 15

Results statement 16

Statement of Changes in Equity 16

Cash flow statement 16

Funds movement status 16

Have a specialized construction accounting system in place. 16

Site management is key in avoiding expense waste.Benefits Of Lean Manufacturing 18

Types Of Lean Manufacturing 18

Maintain cash reserves for the unexpected.Accounting for accurate labor and overhead rates is key to maintaining a profit.

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Introduction

Having a good financial strategy is essential to achieving your goals. They are not achieved only with desire, but we must draw a strategy to increase the chances of achieving them.

It is very important to advise us when drawing up a financial plan to ensure its feasibility. To have a good financial strategy, we must put it together correctly. We can open the strategy in three basic components, VISION, PLAN, AND EXECUTION.

Long term: Vision

First and foremost, and as a fundamental piece, it is to have a clear vision of the status that we want to achieve financially. This vision is more related to the quality of life that we want to lead than economic or material quantities and magnitudes. Once we know the life we ​​want in the long term, we can draw a medium-term strategy. Just having a long-term vision is already a big step forward. Incredibly, most people live their lives without one, and the consequences of not having one are total unpredictability and economic uncertainty. Not having a long-term vision is the biggest risk we can take.

Medium-term: Plan

The plan is the path we must travel to achieve our goals. It is the roadmap, the investments of our time and our money. This is a very critical stage since it is essential to trace a path with several stages that will take us to our destination when we want. We determine where we put our capital, be it money or professional time. The plan is subject to constant changes. We must invest our attention the most and where we must most seek advice. We should never adjust the medium-term plan without analyzing the long-term compatibility with our