Even with the booming construction economy, contractors are still going out of business at an alarming rate–and the reason is most likely poor cash flow. As sales volume increases, so do your payroll and supplier costs, all of which must be paid–usually long before you get paid for those jobs. If you’re not on top of your cash flow it doesn’t take much for it to all come crashing down. You can’t make your payroll with a book of receivables.
In today’s interview, business expert Michael Stone shares his 20+ years of contractor coaching experience and explains how even in the best of times contractors can go out of business. Michael gives up the top 6 reasons contractors fail and what you can do to avoid them.
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Email Michael: [email protected]
Call Michael: 360-335-1100
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