Happy Wednesday Folks!
Welcome back to another edition of The Contractor Finance Playbook.
Have a short one this week.
Life’s been busy and I recently became an uncle
Instead of the usual format here’s a reminder of a few free resources that are out on www.contractorfinanceplaybook.com in case you missed them the first time around.
Labor Burden Calculator: Your labor cost is never just the hourly wage. You also have to factor in payroll taxes, worker’s comp, insurance, and benefits. This calculator gets you to your real, fully-loaded labor cost so you're not underpricing jobs without realizing it.
AR Follow-up Guide: A framework for following up and collecting on unpaid invoices. It advises what to say, when to follow-up and when to escelate.
Mid-Year Strategic Review: We’re heading into the end of Q3, so this guide is still applicable. It provides a structured way to step back and evaluate the business itself. Review margins, pricing, what’s working and what’s not.
If you have all three already, there’s more resources to come. If you haven’t, now’s a good time to check those out.
That’s all for this week folks!
Want More?
Shoot me an email at [email protected] if you have any questions or requests for topics you would like me to write about. I’m all ears and I respond to all emails personally.
Til next time, cheers!
Preston