4 Profit-Killing Mistakes Construction Business Owners Make and How to Fix Them | E371

☎️ Schedule your free business evaluation call with our team HERE 👉Join The Construction Financial Masterclass: HERE -- EPISODE 371: Is your construction business truly profitable? Many construction business owners believe that a steady stream of projects means their financials are good in shape. But more often than not, they find themselves overworked and barely breaking even. You might be making one of these common profit-killing mistakes. In this week’s episode, we’ll explore the four most common profit-killing mistakes small to mid-sized construction businesses make. We’ll uncover why these mistakes persist and how to eliminate them. Discover how backward financial practices, poor bookkeeping, job mispricing, and missed schedules affect your bottom line—and gain actionable strategies to transform your construction business into a well-oiled, profitable machine. Ready to stop the profit leaks in your business? Let’s jump right in! Key Takeaways: Introduction (00:00) The problem with backward-focused financial practices (02:11) Importance of precision bookkeeping (04:00) Misunderstanding markup vs. margin in job pricing (07:58) The impact of missing project schedules (12:54) How to fix your profit-killing mistakes (16:44) Bonus tip: unlock hidden profit in your business (22:48) Episode recap (26:06) Additional Resources: - Download our FREE Strategic Planning Guide HERE - Join The Construction Financial Masterclass HERE - Learn how to make your business run without you HERE - Schedule your FREE business evaluation call with our team HERE -- The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time. Follow us on your favorite podcasting platform so you never miss an episode!