Gotta be honest at first I stared to say another nothing burger post cast but nope I was dead wrong these guys knocked it out if the park on thier cross talk and the information that was given was pure gold and hit the nail right on the head thank you guys for producing this content it will be vary valuable to me as I move forward with my startup

Well said🎉

Does Contractor Foreman send the actual bills over to quick books for tracking hst?

Are there any smart ways to increase my earning ability and salary as hvac engineer in Aec construction industry without depending on years of experience which is a pre requisite sometimes to determine salary.. which books would help in this scenario and becoming indispensable or irreplaceable...

I wish you would show not tell. This is a video of a guy instead of a method

What a great interview! Definitely some good advice!

Hello sir, Your videos are great! I can optimize your content for better search visibility. Let's discuss how to rank higher on KZbin.

Thanks for the info!

😊😊😊😊😊🎉🎉

🎉🎉🎉😊😊😊😊😊

THANKS

I enjoy how clear you are in your approach. This is a duplicatable process for sure.

Hi I tried to download the free template but it just sends me to your site that wants me to sign up for courses. also I have to fallout my personal info and email and subscribe to even det the download, then the link leads me to a file that is a virus. There is no free template, just a free virus and a whole bunch of course sales.

Stay til the end of you'll miss the best part. God bless you brother.

TLDR: Efficient invoicing and payment terms are crucial for construction businesses to maintain cash flow, avoid conflicts, and ensure timely payment from clients. 00:00 💡 Invoice construction clients efficiently by setting up a proper payment schedule and terms, and exploring different payment methods to get paid faster. 00:56 💡 Communicate payment terms upfront with construction clients to maintain cash flow and avoid conflicts, especially for commercial projects with longer payment terms. 02:41 💰 Collect a sizable deposit upfront, invoice for completed portions of the project, and ensure final payments are made on substantial completion to avoid delays and ensure client comfort. 04:33 💡 Proper invoicing and bookkeeping are crucial for timely payment from construction clients, and it's best to avoid cash payments and opt for checks, credit cards, or online bank transfers. 05:56 💡 Utilize a system to track and manage construction client invoices, minimize unnecessary payment fees, and ensure easy tracking of payments and cost codes. 06:57 💡 Implementing streamlined invoicing improves client experience, cash flow, and business efficiency, while offering early payment incentives and charging extra fees for credit card payments can ensure faster payment and save on processing fees. 08:29 💡 Offer multiple payment options and request upfront payment for change orders to avoid discrepancies and ensure timely payment. 09:39 💡 Offer financing options and invoice clients sooner to increase cash flow and ensure timely payment.

These videos are so helpful! Thank you!

Do you recommend Qbo software for construction businesses?

Hey I was looking for some help wondering if you would still be interested in helping me out.

I sent you a DM on instagram and waiting for your response

TLDR: Implementing a system with four key components and utilizing software can help construction professionals quickly and accurately estimate project costs, saving time and ensuring proper compensation for their work. 00:00 🏗 Learn how to quickly estimate construction projects by implementing a system with four key components for accurate quoting. 01:01 💡 Establish cost codes and standard pricing for different categories of costs in a construction project, and use software to streamline the estimating process. 02:06 🏗 Use Excel or accounting software for estimating, and utilize pricing, project management, and plan takeoff software for efficient construction project estimation. 03:47 💡 Use software to quickly estimate construction projects and ensure accuracy, especially if you're a general contractor or renovator with changing and time-consuming quotes. 05:03 🏗 Provide quick estimates for construction projects to ensure you are compensated for your time and overhead costs as a business owner. 06:32 💰 Quickly estimate construction projects by providing a basic budget estimate first, then getting paid for a detailed budget and selections. 07:27 🏗 Use templates for different types of construction projects and assemblies for common tasks to quickly estimate project costs without starting from scratch each time. 08:35 💡 Use assemblies to quickly and accurately price construction projects, saving time and keeping clients happy.

Hello! Just sent you a DM on Instagram. Your KZbin videos are awesome!

Another amazing video

2 titans of construction consultants!

Your selling dash bord

Thanks 🙏

Thanks for having us! Was a blast!

Hi there! Just slid into your DMs on Instagram. Your KZbin content is superb!

Hey, I just sent you a message on Instagram. Looking forward to your response. Thanks!

Awesome work Your videos shows your hard work just maintain consistency and your time will come soon

TLDR: Job costing is essential for construction contractors to track project costs and profitability, and setting up a cost code structure is crucial for accurate budgeting and improving estimating. 00:00 🏗 Job costing is essential for contractors to track project costs and profitability, providing crucial feedback for business growth. 01:18 🏗 Setting up a cost code structure for job costing in construction is essential for improving estimating, tailoring business for profitability, and tracking budget accurately. 02:51 🏗 Setting up job costing for construction can be made easier with the right technology and system in place to track time and expenses. 03:53 🏗 Setting up cost codes is crucial for construction businesses, with two common standards for cost codes, one for commercial projects and one from CSI, which can be simplified and customized to avoid confusion and ensure effectiveness. 05:42 🏗 Track spending and use cost codes in construction job costing to budget effectively and understand key components like pre-construction, site setup, and estimating. 07:07 🏗 Track labor costs and budget per project using a program or app, but getting old-timers on board may be challenging. 08:11 🏗 Integrate project management and budgeting software with bookkeeping software to track expenses and use cost codes to analyze job costing reports in construction. 09:38 🏗 Improve job costing to improve future estimating, business growth, and efficiency, and check out the free course and other videos for more resources.

Need help

TLDR: Proper bookkeeping and proactive financial management are essential for running a successful construction business, helping to avoid financial pitfalls, make informed business decisions, and ensure profitability and efficiency. 00:00 📊 Proper bookkeeping is essential for running a successful construction business, as it helps to avoid financial pitfalls and allows for better management of income and expenses. 00:57 📊 Proper bookkeeping is essential for making informed business decisions, managing finances, and gaining confidence in running a construction business. 02:02 💼 Connect all your accounts with bookkeeping software, automate payroll and time tracking, and link employee time tracking directly into your accounting software to streamline your business finances. 03:21 🏗 Automate overhead, cost codes, estimating, and expenses tracking to streamline construction bookkeeping and instill client confidence, while regularly reviewing profit and loss, balance sheet, and cash flow to track business financial health. 04:57 💡 Proper bookkeeping and proactive financial management can help contractors avoid cash flow issues and make necessary business changes. 06:42 💡 Understand your key financials, overhead, and cost of goods sold to ensure you're collecting the right amount for sales and keeping your business running smoothly. 08:10 💡 Clean up your books and understand your numbers before scaling your business to ensure profitability and efficiency. 08:40 💰 Ensure personal budget is in place, live within means, allocate profit for wealth building, and systematize bookkeeping for successful business.

Great tips, thank you!

Hi derrick absolutely love your channel just subscribed and turned on the notification bell. My name is Abdullah I am 20 years old and I currently live in Toronto Canada. I really love the construction industry and see how much potential there is, my longterm goal is to own my own business that can possibly function with out me. My plan is to first work for a successful home remodeling company to get a good understanding of the different trades, then go for my GC license. My next goal is to work as a project manager and part time in sales to learn as much as I can on the business end. I strongly believe that this will provide with a good understanding and the skills needed to start my own construction business. At the the end of the day I am still a 20 year old and this goal may sound delusional so I hope you may guide me and give me advice on what you think the most ideal and efficient path to take on becoming a construction business owner. I would also like to know if you see value in the formal schooling route (4 year bachelors in construction management) or simply working my way to my goal. I thank you once again for your help and wish your channel the best of success!!!!

Great tips, thanks!!!

I would add: Take Massive ACTION to that list!

Which point was the most helpful for you to improve your email marketing?

great video!

Would you recommend some software for an electrical contractor. We currently use excel and quickbooks for our estimates. I find that it’s very difficult to build assemblies with an excellent sheet. Also I would love a software that could load material costing in bulk

Do you work Independently? Is it OK to take work home especially. Do you own your own software or codes?

Bro I've heard if maximizing salary is important then promotions is not actually the way to go.. Studies show that if we change jobs every 1-2 years then salary will soon outpace any raises/promotions you'd get if you had stayed.. so what to do to earn more ? Any better ideas to know and apply in initial stages of career in service based industry.. 2) Also which books could help in such a situation..

would you recommend to keep 2 separate bank accounts for head office expenses and another for project expenses?

Whoever watches this video thank you for your success

Great content as usual! 🔥

can you please suggest an accounting software that helps in managing all the expenses,incomes of multiple projects

Great contet, great energy, your performance is getting better

You could improve the voice tonality and rhythm of your sound,like a storyteller, or audiobook reader, your editing is good. Just the sound, but keep the little jokes and chuckles and laughs in, maybe even some memes, entertainment is part of your show and it makes it digestible and binge worthy video after video. Im listening as i work and youtube plays your videos on autopilot so its awesome, i listen to a lot of audiobooks and they have some great narration, your content is more direct, narrow, nieche, and its a strength, because i can listen to a whole 6 Hour audiobook and have to take notes on specifics, you give the specifics without the need to listen to a whole audiobook. Jokes are a part of construction culture and there's even a KZbin short niche for construction fails, it's popular, ride that wave of leads

Greetings from Toronto Canada, I just found your channel today and I like your videos. Im a Journeyman Tile guy and i was researching accounting for contractors, your content is very informative and well put together. So much of what i see around me in the industry is disorganised and ancient, im glad i found your videos, miles ahead even though its just the basics.

what system did implement ? please help