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.