Avoiding Debt, Business and Personal
Credit card and supplier debt is the easiest thing to fall into. The only one who wins is the credit card company.
Cash Flow Needs
It’s important to know how much cash your business needs, and when, so you can plan ahead and have that cash available.
The Cost of Being Lowest Bid
Why would a serious construction-related business owner want to be the lowest bid on a project?
Career Tips from my Hero
I first heard about Zig Ziglar in 1973 when I attended one of his events. Over the next several years, if he was speaking nearby, I did my best to be there.
Transparency Has Risks
If you believe in transparency with your clients, this note is an example of what can go wrong.
Lesson Learned: Lead Generation Companies
Lead generation companies don’t know your ideal clients or your most profitable type of work, and don’t care because they get paid anyway.
Don’t Negotiate Your Price
Don’t let your clients dictate or negotiate the price of your work.
Everyone Gets Paid
Over the years I’ve heard from many wives or significant others who were tired of living with no money and essentially no future for the business.
Finding Suitable Construction Employees
Hiring the wrong person costs money. It costs more than just the time and expense you went through before hiring, because you’ll spend time and money to fire them legally and properly.
Structuring Your Construction Company
Many contractors start out building jobs on their own, but it doesn’t take long before you need to hire others to help with production.
Failing Expectations
Michael shares a note from a contractor dealing with multiple mistakes he’s made in his business.
Planning for Next Year
The end of the year is a good time to look at how you’ve been doing business. What standards have you set, and are you keeping those standards?
How to Have a Profitable Construction Business
You can’t focus on being competitive if you want to be profitable. You have to focus on profitability.
Depending on Referrals
Take charge of your marketing and let the leads you get by referral be the frosting on the cake.
Advice for a New Contractor
Michael shares a note from a new remodeling firm, asking questions that are often asked by new business owners.
Hope is Not a Strategy
Michael Stone shares thoughts on protecting your family and construction business from whatever the economy or government throws our way.