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I recently saw an example of how a roofing company could easily go broke. There were three men and a big truck that went out to fit a gutter and fascia to an investment property. They needed a certain amount of products to do the job and then all they had to do was fit it and the goal was to fit it in about 3 hours.
They had all the products they needed but they needed to change things – they also didn’t have all the tools they needed to complete the job. The worst thing for this business is that their quote didn’t include any margin for issues or contingencies so they could easily have lost money on this small job.
When the roof plumbers arrived on site they realised they had to cut and change some of the products used for the installation and they didn’t have all the tools they needed.
This could be one of the costliest mistakes any business can make and I always think of that quote:
Measure twice, cut once.
The issue resulted from not really understanding exactly what they needed to do once they got to the site. They had to think of their feet when they arrived and they needed some special tools to complete the job property. As a result, they had to make trips to Bunnings or to their other vehicle to get everything they needed.
This reminded me of the case study about the cost of erecting a $600 garden shed in our Xero Projects course.
Xero Advanced Course Topic – Xero Projects
Although the garden shed only cost $600, it ended up costing $6,000 to complete the entire project because there were so many other things that needed to be done and people and trucks and parts to organise and manage.
Learn Xero Projects and discover how you can help your employer make every job more profitable.
One of the benefits of doing an Advanced Certificate in Xero is that you learn procedures for handling transactions and data entry so you can help your employer run a better business. It increases your confidence and helps the business not only operate more efficiently but have accurate financial reports to help them make good business decisions.
If you own or manage a small business the COMPLETE Xero course is the ideal training and support resource which includes the Advanced Xero Courses as well as the foundation skills taught in the Beginners Xero Courses.
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