How the right tools and processes create positive cash flow in your business.

By John Chaney, co-founder, Dexter + Chaney

It’s an old saying: “Cash is king.” More than ever, this saying is relevant to contractors as margins continue to tighten and the amount of work generated by new construction continues to remain relatively flat. Negative cash flow is the No. 1 reason why contractor businesses become insolvent, and so a primary business objective must be to keep operations in the black.

This article was submitted by Tom Frisby of The Frisby Group.

As a dispute resolution consultant (www.frisbygroup.org), I have found that effective daily reports have been more important than, to tell you the truth, after the fact forensic schedules and expert witnesses.  Daily reports are done in "real time" and if properly done, carry real credibility - I call daily documentation a Living, Unimpeachable Witness.  To be properly done: