Laurel, DE — The Insurance Market will host its next Risk Academy, “The 7 Numbers That Keep Contractors From Becoming Millionaires,” featuring contractor finance coach Patrick Shurney.
Designed specifically for contractors and construction business owners, this virtual session will explore the financial metrics that can determine whether a growing construction company creates long-term wealth or simply creates more work, more risk, and more financial stress.
For many contractors, increasing revenue does not necessarily translate into increasing cash or profitability. A company may appear profitable on its profit and loss statement while the owner continues to experience cash flow challenges. As businesses grow, money can become tied up in receivables, work in progress, overhead, debt, and other areas that are easy to overlook without the right financial measurements.
During the Risk Academy, Shurney will identify seven key financial numbers contractors should understand and monitor to gain greater visibility into the financial health of their businesses.
Attendees will learn:
- Why growth alone can actually make contractors poorer
- The financial mistakes that can contribute to ongoing cash flow problems
- The seven financial numbers financially successful contractors track differently
- Why a P&L can show a profit while cash remains tight
- Financial warning signs banks and bonding companies may notice
- How to identify where money may be getting trapped within the business
- The difference between being busy and building a financially successful contracting business
The program is part of The Insurance Market’s Risk Academy Series, an educational initiative focused on helping business owners and organizational leaders better understand the financial, operational, workplace, safety, and other risks that can impact their businesses.
Registration is available online:
Register for The 7 Numbers That Keep Contractors From Becoming Millionaires
Register for The 7 Numbers That Keep Contractors From Becoming Millionaires
About The Insurance Market
The Insurance Market is an independent insurance agency serving businesses and individuals with insurance and risk management solutions. Through initiatives such as Risk Academy, The Insurance Market works to provide clients and the business community with education and resources designed to help organizations identify, understand, and manage risk.
