Posts Tagged ‘History’

Serious And Funny Construction Definitions Contractors Enjoy Reading

March 15th, 2022

Over The Past 30+ Years -I have accumulated a variety of terms to describe the construction industry. Some of them are intended to be funny, some are serious and the rest are entertaining. Please feel free to share them with your friends, relatives and most importantly contractors as they will appreciate the humor and perhaps find value in the words of wisdom we are sharing.

If You Have Any Others You Would Like To Be Added Please Leave A Comment On The Right

80/20 Rule – of a contractor’s wealth and wellbeing comes from 20% of their activities

24 Hour Bookkeeper – Bookkeeper that sits in your office quietly, no watering, no feeding, available to work around the clock, never wastes company time surfing the web or chatting on cell phone

Aggravation Box – Computer with construction accounting software operated by a trainee

Auction – End result of working in the business, focusing on the wrong stuff and bad financial reports

Auditor – Person who goes in after the war is lost and bayonets the wounded

Assets of Company – Cash / Receivables – Payables / Trucks / Tools / Equipment / Material

Assets of Firm – Cash / Business Process / Sales Process / Client List / Predictable Cash Flow

Bad Bookkeeper – Wealth prevention tool keeping contractors from earning more than bookkeepers

Bad Bookkeeper Thinking Patterns – Some of the reasons they do what they do to drive contractors crazy

Bad Bookkeeping – Saving money in the wrong place and making decisions on garbage reports

Bad Numbers – Lead to bad decisions / cash shrinks / business unstable / bankruptcy or failure

Bankruptcy – Result of saving money on bookkeeping and making decisions on garbage reports

BCA Business Coach – Someone who helps you raise your level of thinking and income

BCA Staff Member – Cheerful, well paid, thinking, responsible adult, Mastermind Team member

BCG Matrix – Graphical representation of Cash Cows / Rising Stars / Question Marks / Dogs

Belly Button Accountability – The one person who is responsible for a deliverable on a construction project

Bid – A wild guess carried out to two decimal places

Bid Collector – Customer looking for cheap contractor

Bid Opening – A poker game in which the losing hand wins

Black Box – Computer with construction accounting software operated by a trainee

Bookkeeper Training Contractor – Bookkeepers, who train the boss to let them come in late, leave early, call friends and relatives, take long breaks, get paid more and do less and less.

BPM – Business Process Management for construction company owners to grow passive income streams

Budget Bookkeeping – Listing all deposits from the bank statement as sales income and leads to contractor paying too much in taxes.

Business Failure – No meaningful financial and project management records in the calendar quarter preceding the failure

Business Life Cycle – Start small / grow big / lose shirt / shrink back to small business

Business Plan – A plan to have accurate financial reports to base long and short term decisions on

Business Process Management – Develop a construction business that generates passive income

Business Roundtable – Little round table in tavern with pitcher of beer and four contractors strategizing

C.P.A. – Someone who is qualified to do tax returns and we refer a lot of business to the ones that only do tax returns.

C.P.A. Construction Consultant – Someone who has seen a bunch of tax returns and thinks they know how to run a construction business. They are generally more dangerous to the contractor’s financial health than a drunken car salesman on a backhoe at a gas station, in the dark, digging up live fuel lines.

C.P.A. Involved In Construction Bookkeeping – QuickBooks setup to make doing tax returns easy while greasing the rails for the contractor to go down the tube and go broke by focusing only on making the C.P.A’s job easier and not on increasing cash flow and profitable jobs.