How to Build a Bullet-proof Budget

By Cass Jacoby, RCS Reporter. 

Why “what gets measured gets managed” is your new budgeting philosophy.  

Let's be honest, making money is the fun part of your business. There is no shame in striving for a healthy profit margin that lets you reinvest in your business and your staff with new equipment and technology. If you are looking to dial in your profitability, then you have to start managing your annual budget. 

Premeditating how and where you're going to spend your business' money not only makes you a more decisive leader, it injects your culture with the results focus it needs to exponentially improve your earnings. 

“What gets measured, gets managed.” - Peter Drucker 

What gets measured gets managed, so it’s time you learn how to budget and gain control of your numbers. Budgeting might sound complicated, but with Breakthrough Academy’s budgeting template specifically designed for contractors it is easy to start letting the numbers move your business forward. 

This tool will give you: 

• The evaluation system that takes contractors from unclear margins to healthy profits.  

• An idea of what you should be tracking, and where to focus attention.  

• The ability to plan a year in advance so you aren’t stuck wondering whether you have the money to make a new hire or buy that piece of equipment.  

Source: Breakthrough Academy (BTA), Member Kevin Campopiano credits the BTA budget tool for being instrumental in their recent growth after four decades in the industry. 

It's a lot easier to make changes and course correct as the actual results come than to try and fix these issues later. A budget is first and foremost an educated guess, so it's important to know this information in order to adjust and drive toward your profit goal. Financial clarity will give you the confidence you need to lead your business. 

Download this budget tool and gain the visibility you need to stay nimble with your money. 

Learn more about Breakthrough Academy in their RoofersCoffeeShop® Directory or visit btacademy.com.

BONUS: if getting your finances in order is high on your list of priorities but you don’t have time to read, you might also like this episode of Breakthrough Academy's show, Contractor Evolution: Is Your Bookkeeper Competent?