Apr 05 2009
So started my interview with Bill Miller, founder of Building Erection Services of Olathe, KS. The interview will be available to members of our upcoming Private Club (we can actually see the finish line).
Bill shared a ton of great advice. Thought you might enjoying reading the catchiest piece. Bill’s manner of stating an owner’s need for timely reports was classic and perfect:
“I don’t like to read an autopsy. You want to know want happened right when it happened, not six months after it happened. You’re not looking for what killed it. You’re looking to keep it alive and keep it healthy.”
As I discovered during our interview, Bill has a passion for job costing and has used job costing to keep Building Erection’s field efficiency high and its field costs down. Their cost competitiveness has been their secret to keeping 120 union crane operators busy day in and day out (prior to the current economic implosion).
Take a look at the reports you receive daily and weekly. Do they cover the performance of each and every factor that controls your business’ health? Things such as:
- Field productivity
- Billable hours
- Sales leads and/or bidding opportunities
- Cash spent and cash received
- Overhead expenses
- Aged receivables and payables
If you are going to avoid reading an autopsy (either as a year end financial statement or project-end cost report), you best have a system of report generation that lets you track and monitor everything that matters.
We’ll be back soon.
Until then, wishing you much success.
Your friends and champions,
Ron & Guy