Time for a Reality Check

How are you doing? The first business quarter for this year is over and now you can check on your performance. Do you dare?

If you learned anything from my seminar “How to Build BIGGER Profits in Your Construction Business”, you know that establishing a budget with goals is the number one priority for your success. But, are you using that budget as a guide and a ruler to measure your success? You need to. It is the single most important tool you’ve ever developed.

Let’s take a deep breath and dive in. Brush the dust off your budget folder, or open your spreadsheet. Input your results to date. You have them, so lets use them. Now compare. Are you on target, or do you need to make adjustments.

Using and comparing your existing performance to your projected numbers is good business sense. The more you do it and become proficient in it, the more accurate you’ll become.

As your business grows and competition becomes tougher, success is largely based on good financial performance. In this booming economy many business owners are patting themselves on the back. Telling themselves what great business people they are. The truth is, it’s the economy, not necessarily you. Great business owners are not only doing exceptionally well when the economy is great, but also surviving when the economy is doing terrible. They know their numbers and their respective markets, so they know how to react when it changes.

Get in the habit. Check your performance. Update and analyze your performance. Learn how to make the right adjustments. Do that first, and then you have earned the right to pat your self on the back for a good job well done!
 

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All articles are the property of Henry Goudreau and HG & Associates, Inc. If you would like Henry's articles for your magazine or newsletter or, would like Henry to write for your publication, please contact Henry at:

HG & Associates, Inc.
389 Interstate Blvd
Sarasota, FL 34240
941 377 1254