Profit Planning: Critical to Managing a Successful Construction Business in a Turbulent Economy

As a result of the partial economic shutdown in 2020, businesses and organizations are hesitant to invest in modernized or new facilities, ending an almost decade-long expansion in construction spending.

The construction industry, however, remains somewhat optimistic. A sentiment analysis performed at the end of 2020 demonstrated confidence in new business and revenue are both up, indicating cautious optimism about the future. 

How can this industry position itself for success in an unknown future? 

This valuable quick guide developed by Gordon Advisors will help management prepare a profit plan, giving companies a better handle and understanding of their current financial position and outlook. The step-by-step guide helps companies to better manage:

• Finances and liquidity
• Balancing safety with growth
• Measuring profitability
• Inventory and asset management
• Sales and product profitability
• Developing an action plan
• Preparing a projected balance sheet
• Income, expenses and cash flow

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