Increase Your Profit With Effective Job Costing Reports with Diane Gilson

So many business owners just aren’t making the profits they should! The failure rate is shocking, but what’s even worse are the people who are working their lives away and earning so much less than what they should. On today’s episode, you’ll learn which jobs are making money, which jobs are losing money, and what to do about it.

What you’ll hear in this episode:

How we can make more money: either sell more jobs or sell them for more money
Why good job costing is essential for your business
Diane’s elevator pitch: how she helps small and mid-size construction companies customize their internal accounting systems and run their companies more profitably
Why most contractors think of numbers negatively

How job costing allows you to see which jobs are winners, which are losers, and which are in the middle
How job costing helps narrow your focus on profitable jobs
How a “post mortem” helps you evaluate the estimate vs. the actual for each job
How Diane got into work with construction companies and job costing
The biggest problem when you don’t do job costing:
- You are working “in the dark”
- You don’t know where you stand financially
- You may sell at lower prices (and sink the ship!)
How job costing is part of the system to give you historical information and help make projections about the future
How to track details on phases of different jobs
The pros and cons of Quickbooks online
Why you don’t have to be an accountant to use job costing
Who can do your job costing for you
The three phases of a good accounting system: good structure, training, and proofing/balancing
Diane explains “the speed–accuracy–control continuum”
Why any company doing project-oriented work should be doing job costing
How job costing provides a feedback loop