Understanding the Rule of 72 in construction

摘要

Understanding financial management is critical to the success of any contractor. One of the best books I've read on management listed the 10 rules of business. To paraphrase: "The first rule is don't run out of cash, the second is to not to run out of cash, the third is to always to have cash on hand and rules four through 10 are not that important." Financial management's importance cannot be overstated. The Rule of 72 is a key concept. Maybe, it should be the 11th rule.