Know your numbers! You’ve heard it here at least a million times. “Keeping score” is one leg of the three-legged stool of your business, and one of the most important numbers is your gross profit. The roofing business is packed with ups and downs around your cash flow, and you need to navigate that ride with the right approach. Join us to learn more in today’s show!

Diane Gilson created Info Plus Accounting in 1994 to help business owners. She has created many workshops and classes for contractors and is recognized as a top expert in her field. She is Dave’s go-to financial guru, and she returns to today’s show with more expert advice. Diane knows the numbers of the roofing business inside and out, and she loves to teach others how to handle the month-to-month rollercoaster of gross profit.

Before our interview with Diane, hear the conversation between Dave and John DeLaurier about a specific job of John’s that went south quickly with a customer who was impossible to please–and how John handled the situation. On the other hand, he shares the success of a big job that is going well and staying well under budget. Dave gives insight into a consulting job of his on a huge, multimillion-dollar commercial roofing project.

What you’ll hear in this episode:

• How knowing your numbers will keep you on a constant correction process, which is necessary for gross profit
• How Diane came to the work she does today
• What is gross profit? Why does it matter?
• Considerations in a cash-basis business
• How accrual basis accounting works with mismatching and adjustments
• Why the first step in conquering the gross profit rollercoaster is to have an estimate
• How your bookkeeper can get more training and knowledge
• An overview of Diane’s resources and classes

Resources

Connect with Tim Brown and the Hook Agency: Website

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