Free Markup & Profit E-Mail Newsletter
The Markup and Profit newsletter is published monthly, and includes information pertinent to your construction business. Business management issues, sales issues, dealing with customers, pricing jobs . . .
Michael's Ten Cardinal Rules for Construction
You shall return all phone calls the same day. This means that you return all phone calls the same day or by 9:00 AM the next morning at the latest. You return the call regardless of who it is from, and you don't make assumptions about what the call may be about. Most importantly, you don't make excuses about how busy you are.....
Cost Plus or Time & Material (T&M) Contracts
The following list are some (but not all) of the major reasons that a contractor in a construction related business, should not do Cost Plus or Time & Material contracts or billing to their customers. This applies to all general contractors and most of the specialty contractors in this business.
There is No "Industry Standard" for Pricing
Over the last two years, we have heard of home or building owners claiming that contractors overcharged them for work being done on fixed figure (lump sum) contracts. The claim is usually that the "construction industry standard" is Cost plus 10%.
Make Every Possession Count
When asked why he thought the Chicago Bulls achieved an NBA best 72 and 10 record, Michael Jordan's response was, "We make every possession count". Now that may not seem like an earthshaking statement, but when you apply it to your personal life and your business, it is profound....
How Can You Protect Your Assets?
Stephen Eichelberger is a construction law attorney and a friend. Because he saw the same legal problems arise time and again in construction litigation, he became interested in practicing "preventative" law for those involved in construction projects. His office provides a wide variety of legal services to owners, contractors, subcontractors, suppliers and insurers....
Book Corrections (1st and 2nd Printing)
