As I get older, I find myself reflecting more on the time I spend with my family, especially during holiday gatherings. These moments pass so quickly, and they remind me of the things I still want to accomplish, as well as the things I believe I’m called to do. It’s funny how you don’t always realize what’s important until something, sometimes just a small visual, brings it to the front of your mind.
For me, that moment came last year when I did a quick search (yes, a “5-second Google lookup”) to check the average life expectancy for men. I did the math, and suddenly I felt much older than I had before. It was eye-opening. That moment pushed me to create a simple, physical reminder that time really does fly.
I filled a glass jar with small wooden balls, each marked with a number representing a year I have left. Every year, I take one ball out of the jar, and the shrinking number reminds me that my time here is limited. But it’s not about counting down. It’s about keeping perspective, and reflecting on what I’ve neglected over the year: relationships, goals, and the daily moments that deserve more attention.
That same mindset applies to running a construction or trade business. Your time, cash and crews are limited too, and it’s easy to spend every day putting out fires on the job site while the bigger questions go unanswered. Just like my jar, these are six questions every contractor should stop and ask at least once a year.
1. Revenue and Profit: Are you growing the right way?
More revenue feels like progress, but more jobs at thin margins just means more work for the same money. Do you know which job types, customers and crews actually make you money, and which ones only keep everyone busy?
2. Cash Flow: Can you make payroll in a slow month?
You pay crews weekly and buy materials up front, but customers pay in 30 to 90 days and retainage gets held back. A profitable year can still feel broke. Do you know what your cash will look like six weeks from now?
3. Debt: Is your debt working for you?
Equipment loans and a line of credit can help you grow, but too much debt limits what you can say yes to. Take a hard look at what you owe and make sure every payment is tied to equipment or work that earns its keep.
4. Expenses: Do you know where the money goes?
Overhead creeps up quietly: trucks, tools, software subscriptions, insurance, office help. Reviewing your expenses once a year isn’t about cutting corners. It’s about making sure every dollar supports the work.
5. Operations: Are your crews and office working efficiently?
Rework, waiting on materials, re-entering timecards and chasing paperwork all drain hours you never get back. Small inefficiencies add up across every job, every week.
6. Technology: Are your systems helping or holding you back?
If your estimating, field and accounting software don’t talk to each other, someone is typing the same information twice and mistakes slip through. The right setup lets numbers flow from the field to the office on their own.
The Bottom Line
Life is short, and the same goes for your time in business. Stepping back once a year to ask these six questions keeps you focused on what matters, both at home and on the job.
Want help answering these for your business? Book a free Clarity Call or start with The Contractor’s Roadmap, a free guide with five steps you can take this week.
