Liquidated Damages in Construction
By Michael StoneWhen customers start talking about liquidated damages in construction, it’s time to ask why.
Contracts Matter; Collecting Final Payment
By Michael StoneWhen you provide a dishonest client a cost breakdown of their job, things can go wrong.
Make Time by Delegating
By Michael StoneIt’s easy to fool yourself into believing it’s better to do it yourself, until you realize the things you’re supposed to do aren’t getting done.
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.
Construction Cash Flow and Business Success
By Michael StoneConstruction 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
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.
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