The Goldilocks Principle
Not only was Goldilocks a brassy, aggressive, and cheeky little girl, but she ended up with an entire principle named after her, The Goldilocks Principle. (Some refer to it as the Goldilocks Effect.) Making matters muddier, it seems everybody wants a piece of the Goldilocks Principle pie.
Some are sure Goldilocks was all about making moderate choices. But if moderate was Goldilocks’ desire, then Mama Bear would have ended up with her porridge all gone and with a golden-haired girl asleep in her bed.
Nope, Goldilocks liked for things to be just right.
Just right for her.
Because we aim to be exceptional Construction Contractor Advocates, we aspire to make things Just Right for each of our clients.
Just Right Compliance
There is nothing better than the word compliance to make the words just right come to mind.
Meeting the requirements of existing laws, knowing when laws change, and understanding how to remain compliant going forward is only one aspect.
Sometimes compliance is a matter of industry standards. In financial terms, compliance means companies must operate according to external rules and internal control systems.
Or compliance may be the cost of doing business with a particular entity. For example, to get a loan from X bank, you must (fill in the blank.) Nah, I didn’t just fall into a banking joke – did I?
At any rate, what follows is a list of some of the ways we work with our clients to keep them compliant in four general aspects of their construction businesses: government, insurance, contracts, and banking.
Annual corporate minutes – government
CCIP paperwork management – insurance
Change order management – contract
Closeout documentation – contract
Credit check – contract
Liaison with CPA – government
Gaap – government, banking
Liaison with GC’s – contract
Lien waiver management – government, contract
Payroll & worker comp reporting – government, insurance
Payroll accountability and submissions – government, insurance
Preliminary notice management – government, contract
Reconciliations – banking, government
Sales tax exemption forms – government
Sales tax reporting and filing – government
Textura management -- contract
Vendor and subcontractor insurance compliance – insurance, contract
Vendor job information gathering – contract
Vendor lien waiver collection – government, contract
Just Right Solutions
Goldilocks may have been searching from place to place, but when she found the just right solution, she knew it.
Keep this in mind; just right solutions are not found on the one size fits all rack.
Because our team members are QuickBooks ProAdvisor Certified, I’m going to use that as an example. Did you know you can learn how to use QuickBooks for free? Yep, there is free training from Intuit. I’ve been told that the videos do a good job of showing how to use the QuickBooks Online product.
But there is still a problem.
You see, those videos CAN’T show you how to use QuickBooks for (fill in your construction company’s name.)
Skill, knowledge, ability, and personal care are all part of a just right solution package.
One more thought concerning finding the just right solution; not everyone who gets in touch with us about becoming a client goes on to be a client.
Sometimes it is because they:
· Misunderstood in what ways we serve
· See us as a cost rather than an asset
Sometimes it is because we:
· Know they need something we don’t offer
· See their attitude, communication skills, or ability to accept responsibility are lacking
Just Right Relationships
When you find just right relationships, you’ll notice they are consistently built on two-way streets.
· Appreciation – with apologies to Barney – I love you; you love me.
· Communication – ahem, this communicates for itself, right?
· Blunder Mercy – you and I know, you and I are bound to blunder, and we have mercy on one another.
· Admit Errors – big and small – related to Blunder Mercy – this is merely taking responsibility when you messed up – then working to fix it.
· Humorability -- yeah, I made up that word – because it makes sense – click the link 😉
Speaking of Goldilocks and Humorability: What's brown and hairy and can see just as well from either end?
A bear with its eyes shut!
And They Lived Happily for Many Years
This is the fifth and final installment of the Construction Contractors Advocate series. If you’ve missed one or more, you can find them through these links:
How You Know You Need A Fairy Godmother
Our intent in these posts has been to help you understand how Construction Contractor Advocates are good for your business, particularly how the team at The Profit Constructors is prepared to stand in the gap for you.
Construction Contractors look to The Profit Constructors to provide advocacy in dealing with:
· Clients and customers
· Employees and subcontractors
· Vendors and service providers
· Governmental entities
Working with The Profit Constructors gives Construction Contractors the means to organize their operations in ways that help them:
· Remain informed
· Avoid hassles
· Reduce risks
· Be future-ready
Ready for action? Or want to know more? Get in touch today to schedule a complimentary discovery call. New possibilities await. 866-629-7735