Everybody decides to go into business for many different reasons. But there’s only one way you’ll stay in business — you have to make a profit. As a result, everyone watches their money, or at least tries, with some kind of accounting or cost-coding system.
The astounding number of contractors who go broke every year, however, shows that these money-monitoring systems do not always work. Why? By the time your numbers get through your cost-coding or accounting system, it is water over the dam! It is too late to watch money that is already spent.