A contractor called, wondering about the markup he should use on items from specialty contractors. If he applied his markup, it might raise the job price too high.
The most profitable construction company today is a husband/wife combination with one other person either supervising the construction or selling for the company.
One of our long time coaching clients called for a quick review. We were talking about how to judge the value of education. He gave me a new perspective.
Some time back one of our readers sent a note and asked why I’ve stated he should not have more than 20% to 25% of his business from referrals.
Do you rent or buy your tools or equipment? Here is a quick and dirty rule to follow. Don’t tie up money in tools and equipment that seldom gets used. Read more about Rent or Purchase Construction Equipment?
We recently got a call from a young man with a remodeling company in the east. An architect was providing him with a great opportunity and he wanted my opinion. Read more about Architects, Payment Schedules in Construction
If I'm a remodeler making a 44% gross profit, I'm doing great, right? It depends. Your gross profit means nothing if your sales will not support your overhead expense. Read more about Gross Profit for Remodeling
Watch how your employees conduct themselves. Some things we accept as normal can be the very thing that sets a customer off and turns them into the customer from hell. Read more about Employee Behavior (or, the cons of smoking)
I’ve talked to numerous construction company owners recently who are having problems with scheduling, getting jobs done, getting the right people to the right jobs, etc. Read more about Let Construction Employees Learn from Mistakes
After reading our last newsletter, one of our readers wrote in and asked if my recommendation of 8% profit and 8% owner's salary was a coincidence. Read more about Construction Owner's Salary, Construction Business Profit
There are eight warning signs of financial problems in your company. Warning signs, loud and clear, that there is something wrong on the financial side of your business. Read more about Warning Signs of Financial Problems
An association exec told me that several months ago he tried to get association members to submit bids for long term contracts at a local military base. Read more about Changes in the Construction Market
I recently had a contractor tell me that he wants to build his company up and sell it to provide for his retirement. Another plan is to sell or give it to their children. Read more about Selling Your Company