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WIP Report – The Contractors Roadmap to Higher Profits
In the construction industry, hard work doesn’t always guarantee high profit. 60% of contractor failures are caused by a single catastrophic project that went unmonitored. Without a Work in Progress (WIP) report, you aren’t just managing projects, you’re gambling on them.
This webinar pulls back the curtain on the industry’s most powerful diagnostic tool. We will show you how to identify “hidden” losses before they hit your bank account. Whether you are looking to increase your bonding capacity or simply want to stop “flying blind,” this session will provide the roadmap to true financial clarity.
What You’ll Learn
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A simple breakdown of what a WIP is and the exact, easy-to-use formulas you need to track your projects.
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How to tell if you are “borrowing” money from future work or using your own cash to fund a client’s project.
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Learn how to spot “Profit Fade” early so you can fix a job while there is still time to save your margin.
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Why a WIP report is the secret key to increasing your bonding capacity and getting approved for larger projects.
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How to set up a simple system to review your numbers every month without the administrative headache.
About the presenter
Dan Murch is the founder and owner of Blue Collar Back Office. With over 20 years of hands-on experience in construction and related services, he brings hard-won, practical insights to contractors, consultants, and other service-based business owners.
Dan has been dealing with the contracting world and small business owners who require bookkeeping services beyond the basics. It is important to understand that experience in the industry makes him cognizant of the realities that business owners must cope with. This includes issues related to flow of funds, job profitability, fixed expenses, and growth.
Dan is actively involved in all sectors of Blue Collar Back Office, ranging from the oversight of financial performances to the management of clients, employee training, as well as recruiting and hiring initiatives. His areas of focus and activities are always based on improving the financial stability and efficiency of the organizations he helps.
