A coaching client related how one of his customers arbitrarily decided to change the payment schedule that was clearly written on the contract. Read more about Changing the Payment Schedule - Honor Your Contract
A question arose this morning on a call from a contractor. Should you write a contract on all the jobs you do, regardless of the size of the job? Read more about Contracts for Construction Jobs - Even Small Jobs?
We recently received this note. He seems to be a nice chap, and we exchanged a comment or two. He discusses the world of commercial and industrial construction work. Read more about Set Your Own Price for Construction Work
If you've been in construction sales very long, you've met potential customers who ask for an estimate, but after a lot of work you learn they were just shopping. Read more about Charging for Estimates
Have you noticed that when you have a solid, well thought out payment schedule and insist your customers abide by that schedule, you have fewer problems? Read more about Customer Relationships, Payment Schedules for Construction
At a recent class, I was covering the basics of getting paid for additional work orders. I gave an example to emphasize the necessity of getting paid for your work. Read more about Business Education and Construction - Willing to Learn
Adding overhead and profit to job costs to calculate sales price is a mistake. Contractors should use a markup calculated for their construction business. Read more about Overhead, Profit in Construction - Using the Figures Wrong Hurts Your Business
Question came from a friend the other day. He said, "Michael, how do you determine whether someone in construction has a business or a hobby?" Read more about Is it a Construction Business, or a Hobby?
Read a comment from another business coach. He said one of his potential customers, who was losing money and badly in debt, told him "coaching was not in the budget." Read more about Business Coaching
We have had two e-mails in the past week from homeowners asking about the "Industry Standard" for pricing, wondering if their contractor is overcharging them. Read more about Is My Contractor Overcharging Me?
A young businessman called. He was in a state of shock after checking his books over the weekend and found over $11,000 in receivables, much of it over 30 days. Read more about Provide a Service, Make a Profit
With the tightening up of construction, some construction-related businesses are starting to feel a financial crunch.
Those that have pursued good business practices will weather this storm well. Those that have grown fat and have conducted business poorly are now going to pay. Read more about Operating Capital Reserve Account