Character Matters
By Michael StoneYou can’t always determine if the person you are about to do business with is ethical, but you do know your own behavior. Choosing to operate your business with integrity is within your control.
Make Construction Work for You
By Michael StoneConstruction can be a tough business, dealing with clients who don’t realize what we’re worth, while our bodies take a beating to make their homes better.
Beliefs That Limit Your Profit
By Michael StoneOwning and operating a construction business requires a strong will and self-direction, but those qualities can also lead you to hold on to beliefs that limit your profit.
Definition of Terms
By Michael StoneWhat does a general contractor do? What is a specialty contractor? How do remodeling and new construction differ?
How Do You Measure Success in Construction?
By Michael StoneOur 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?
Purchasing Commercial Insurance
By Michael StonePurchasing commercial insurance can be a frustrating experience for many construction businesses.
Unit Cost Estimating
By Michael StoneUnit cost estimating is breaking down a project to simple assemblies. It’s the best way to consistently acquire accurate estimates.
Handling Customer Complaints
By Michael StoneNo 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
By Michael StoneAll price proposals need a deadline because you never know when material and labor costs will increase rapidly.
Construction Sales: Make Time Count
By Michael StoneConstruction sales take time and your time is valuable. Avoid these common time-wasters when selling construction services.
Cash Flow in Construction
By Michael StoneCash flow in construction is no different than any other business. There must be more cash flowing in than flowing out or the business won’t survive.
Rapidly Increasing Material Costs
By Michael StoneQuoting 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
By Michael StoneThe 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
By Michael StoneHaving 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
By Michael StoneIt can a challenge to finish a project, especially when it was priced too low for a difficult client and with a weak contract.
Habits for Success
By Michael StoneAre your habits helping your company grow, or are they holding you back?
Financial Plan for Success and Survival
By Michael StoneIf you thought you were the captain of your ship, 2020 taught otherwise.
Construction Websites that Generate Leads
By Michael StoneA 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?
By Michael StoneAlmost 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
By Michael StoneYou 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.
Lowball Pricing in Construction
By Michael StoneIt’s not unusual to find a contractor who sells by deliberately underpricing or underbidding jobs and making up the difference with change work orders.
Specialty Contractors and Down Payments
By Michael StoneShould specialty contractors require down payments even when working through a General Contractor?
Remodeling Sales: Setting the Budget
By Michael StoneA business owner in the UK asked a question that illustrates that remodeling sales challenges are the same regardless of your location.
The Skinny on Change Work Orders
By Michael StoneA compendium on change work orders on a new home, remodeling or renovation project; why they matter, how to price them, what to include, and more.
Building a Successful Construction Business
By Michael StoneI take many calls from contractors whose business is more like a low-paying job than a successful construction business. Some ask, “Is it even possible in today’s economic climate? Can my business make money?”
Family Matters More Than Business
By Michael StoneOur goal is to help construction-related business owners build a better business. We receive many phone calls and notes from our clients, and most of the time we hear good things. Sometimes we hear another side of the story.
You Have Better Things to Do than Estimate
By Michael StoneGetting a commitment from potential clients is critical if you want to save yourself a ton of time and work putting together an estimate that won’t go anywhere. You have better things to do with your time.
Clients and Your Job Schedule
By Michael StoneOne of the concerns a homeowner has when they’ve hired a contractor is whether they’ll do what they said they’ll do. It is a legitimate concern. They don’t know what’s going on in your head, only what’s happening with their job.
Who Pays for On-the-Job Training?
By Michael StoneTraining in construction is important, especially with a shortage of employees. A general contractor asked about a subcontractor who is training an apprentice.
The Sales Call: Budget and Design
By Michael StoneBudget doesn’t need to be a major worry during the design and build of a project if you handle it properly during the sales call.