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Most custom builders I talk with agree it's important to develop a written business plan. Unfortunately, very few of them sit down and, as the Nike commercial says, 'Just do [...]

Have you ever gone on a trip with children when just as you pull out of the driveway you hear that infamous saying: 'Are we there yet?' At this mid-point [...]

Several months ago I received a call from a client who said that he suspected that his bookkeeper was embezzling his company's funds. The bookkeeper had worked for the custom [...]

As we approach the end of 2005 it is a good time to begin development of your budget for next year. In developing your budget, take time to challenge your [...]

The one question builders ask me more than any other is what markup to use to price their jobs. My answer is quite simple: It depends. There is no magical [...]

Many of the custom builders in Builder 20 clubs I have visited recently are laced with a puzzling situation: They've grown their top lines, yet their bottom lines have stagnated [...]

Even in the best of times, it's important to remember that a custom building business always faces risks. Most of the custom builders I've met and worked with in the [...]

In my July/August column ('A Is for Accounting,' page 28) I introduced a series of tests that will help you evaluate your financial management systems. This test will help you [...]

You probably rely on report cards to find out how your kids are doing in school. But have you ever subjected your own business to the grading system? It could [...]

Accounting normally involves matching revenue from the sale of an object with all the costs of producing and delivering that object within a specific time period. For industries other than [...]

Many custom builders get a balance sheet for review at the end of each month from their accounting system. I find, however, that very few of them use this report [...]

Do you want to prevent unauthorized purchases of materials? Would you like your variance between estimate and actual costs to be less than 1 percent? Are you willing to invest [...]

There are three types of managers I consistently run into in the building companies I work with: the crisis manager, the problem solver, and the problem preventor. In many companies, [...]

Many builders approach strategic planning the way some people train for their first marathon: They rush out and buy new shoes and off they go, running every day that first [...]

Like David Letterman, I've got my own Top 10 list. Unlike Dave's list, though, mine won't get a laugh. However, I can almost guarantee that if you implement my top [...]

Whether you are in a hot market or a slow one, the end of the year is a good time to look at your business accounts to make sure you [...]

In recent discussions with custom builders, many have complained of big increases in insurance premiums, particularly for liability insurance. When they go to renew their liability policies, they are having [...]

It's never too soon to begin thinking about retirement how you are going to fund it. While your business may attract a buyer when you're ready to kick back and [...]

To attract new hires it's important to offer a healthy salary and benefits package, but when it comes to retaining current employees, a well-thought-out bonus program can give you the [...]

If you're not happy with your computerized accounting system, it may not be the software you re using. You can select the best software that money can buy, but if [...]

Ever feel like your job has control of your life? The daily grind of running a busy company leaves little time for reflecting on the big picture. Yet time and [...]

Over the past several years I have seen many custom building businesses grow in both volume and profits. However. I've seen other companies with growing top lines but stagnant or [...]

The key to a successful financial reporting system is to have a budget to which you can compare your actual operating results. An operating budget is one of the key [...]

The question I am always asked in seminars I give around the country is, 'What markup should I use?' I always give the same, simple answer, 'It depends.' Each custom [...]

Okay, you've taken my advice and asked your buyers for more margin. Good for you! You're halfway to becoming more profitable. Now it's time to tackle the second half of [...]

In most industries, accounting is a straightforward matter of matching revenue from the sale of a product with all the costs of production and delivery within the same accounting period. [...]

Certified public accountants (CPAs) are often consulted when firms choose accounting computer software, and software manufacturers often approach CPAs to sell them on the merits of their product. As a result, it is possible for the CPA to be in the position of a value-added reseller. This creates several ethical and practical problems for the CPA regarding possible conflicts of interest, changes in client relationships, and selecting the right vendor.