In our latest episode, I had the pleasure of speaking with Jeff Graf, the owner of Fence Connections and Majestic Fence, as well as his accountant, Rosina Barkman. The conversation centered around the importance of managing the financial side of your contracting business - something that I'll admit has been a constant challenge for me over the years. Like many contractors, I started out focused solely on the work, without giving much thought to the numbers. It wasn't until I nearly went bankrupt that I realized the critical role that financial management plays in the success of a business. Listening to Jeff and Rosina discuss their approach to project-based accounting, overhead recovery, and cash flow projections was a real eye-opener. Rosina emphasized the importance of creating accurate estimates that account for all costs, including overhead and a healthy profit margin. She also stressed the need to track expenses in real-time, rather than waiting until the end of a job to assess...
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