You just received great news from your client regarding a quotation you sent few weeks ago regarding remodeling his basement: “we accepted your quote and please let us know when you are starting work”.
Like everyone else, you are excited for that big check which will be coming your way in a couple of months.
The cash balance will certainly look impressive at a certain time but, how much is going to be left once you have paid for:
- Materials and supplies;
- Labor;
- Yourself (many forget to account for themselves);
- Subcontract;
While you made sure the above identifiable costs are covered in your quote, did your remember to consider the following in that particular quote:
- What is my desired margin from this particular contract?
- Is this desired margin good enough to absorb my operating expenses, those sticky bills (telephone; subscriptions; rent; vehicle costs; insurance; meals; etc…)?
What remains when you accounted for everything is the foundation to Wealth Building, which translates into savings, then investing, then generational wealth.
Despite sounding hard to track in every service offer, Rukbe is building a platform designed to make it possible for Specialty Trade Contractors, Retail Trade (any small business with significant input costs) to accurately predict the Wealth Building Portion on each contract they undertake.
Driving financial success from data is possible for small businesses. Technologies are enabling small business adopt big businesses financial management practices and Rukbe is here to spearhead the revolution.
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