How Do You Measure Success in Construction?
Our goal is to help contractors build more profitable businesses, but how do you measure success? How do you know your pricing will result in a profit?
Paying a Salesperson: Commission on Sales, not Profit
If you employ a salesperson to help you sell something, you need to pay them for their services. I am a firm believer in paying sales people by commission
Purchasing Commercial Insurance
Purchasing commercial insurance can be a frustrating experience for many construction businesses.
Unit Cost Estimating
Unit cost estimating is breaking down a project to simple assemblies. It’s the best way to consistently acquire accurate estimates.
Handling Customer Complaints
No matter how careful you are, you, your crew, or one of your subcontractors will upset a client. How you handle customer complaints says a lot about your business and your character.
Price Proposal Deadlines
All price proposals need a deadline because you never know when material and labor costs will increase rapidly.
Construction Sales: Make Time Count
Construction sales take time and your time is valuable. Avoid these common time-wasters when selling construction services.
Construction Cash Flow and Business Success
Construction cash flow is like every other business; there must be more cash flowing in than flowing out or the business won’t survive.
Rapidly Increasing Material Costs
Quoting a firm fixed price is riskier when material costs are increasing rapidly, which is why your contract needs to address unexpected material cost increases.
Design Agreements and the Budget
The purpose of a design agreement is to get a commitment from your client to design the project so you don’t have to do the design for free. How do you keep the design within the budget?
The Cost of Callbacks
Having to return to a previous job and fix something that’s wrong costs money. Knowing the cost of a callback helps you or your crew to be more diligent to avoid them in the future.
Wrapping Up a Difficult Project
It can a challenge to finish a project, especially when it was priced too low for a difficult client and with a weak contract.
Financial Plan for Success and Survival
If you thought you were the captain of your ship, 2020 taught otherwise.
Construction Websites that Generate Leads
A construction website should be a lead generating asset. It doesn’t have to be expensive, but if it doesn’t generate leads it’s a waste of time and effort.
Why Do You Need a Written Construction Contract?
Almost all conflicts contractors face could be avoided or quickly resolved if there is a clear, detailed construction contract between the parties.
Charging a Fair Price
You can be the most ethical person in the world and if you aren’t charging enough for your work, you stand a good chance of cheating someone else.