1:00 PM - 2:00 PM
Las Vegas Convention Center, North 253
Format: Building Knowledge Session
Level of Content: Intermediate
Track: Business Management & Operations
Continuing Education: NAHB - 1.00 CE hour(s), NKBA - 0.1 CEU(s)
Appropriate for: Remodelers, Single Family - Small Volume Builders, Single Family - Custom
Mike Benshoof, Red Door Homes, Harrisburg, PA
What It’s About:
Builders who have solid financial management tend to have profits 5 to 7 percent higher than those who do not. Perhaps the biggest challenge that most builders and remodelers face however, is understanding their accounting and financial reports. Because of this, they mistakenly rely solely on their accountant for this information a few times a year and don't truly know if they are making or losing money at any given time. This session is designed to give you the confidence to manage your own financials and will teach you how to easily set up, maintain and most importantly, change the way you analyze your business. With an open mind and a few tweaks to what you're already doing, you can make your financials work for you.
What You'll Learn:
Learn why and how to set up and maintain financial data to ensure business decisions are based on accurate information.
Use financial information to determine if you can hire a new employee, afford an advertising campaign or improve your profitability.
Benchmark your business against others to see where you can improve and ultimately make more money.