Construction Business Owner

APRIL 26, 2012

Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” Meet with them before every project to discuss not only the contractual provisions for scope of work and change orders, but also what you bid and why.

Change Orders 120

Change Orders Construction Profitability Software 120

Construction Business Owner

JANUARY 12, 2012

” » The Expensive Process of Bidding. Without spending money bidding projects, you can’t get jobs to make money building them. With more people bidding on fewer jobs, the market is much more competitive. Perhaps the toughest part, though, is that even if you bid a job and don’t win, you still incur costs to compete.

Bidding 150

Bidding Construction Documentation Software 150

Construction Business Owner

OCTOBER 26, 2011

I know a lot of contractors are getting into bidding season, and this got me thinking about communication. Communication is an important element throughout any construction project, but given the time of year, I thought I’d focus on the communication difficulties faced during the bidding process. foundation. foundation software.

Construction 160

Construction Software Software Bidding 160

Construction Business Owner

JANUARY 5, 2012

Evaluate Bidding Strategy. There are fewer projects to bid and what projects are available are being bid by more people. Consequently, the bidding climate is very competitive with some work going to people bidding below cost. foundation. foundation software. foundation. foundation software.

Construction 120

Construction Bidding Software Software 120

Construction Business Owner

APRIL 2, 2011

« Free Webinar on Reducing Profit Fade. For those of you contractors doing government work: relish the competition involved with bidding. foundation. foundation software. foundation. foundation software. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions.

Construction 160

Construction Software Software Accounting 160

Construction Business Owner

JANUARY 5, 2012

It’s often easy to bid on a job, start work, and miscalculate how far along in the project you are versus the amount of money you’ve spent. This year, I encourage you to close the gap between your bids, your projections, and the actual cost of the project. foundation. foundation software. foundation. Add new tag.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

OCTOBER 14, 2011

But I have been surprised at the number of contractors who tell me that they have bid for jobs at break-even or at a loss. Change orders can be harder to manage – and present more of a profitability challenge – than pre-planned project work. foundation. foundation software. Yes, change orders are nearly inevitable.

Change Orders 120

Change Orders Construction Software Software 120

Construction Business Owner

JANUARY 12, 2012

The Expensive Process of Bidding » Save Time, Resources – File Electronically. foundation. foundation software. foundation. foundation software. Construction Business Owner E-Newsletter. -->. Home » Blogs. « Simplified Decision Making – Getting People and Processes In Order. Add new tag.

Construction 137

Construction Software Software Accounting 137

Construction Business Owner

NOVEMBER 3, 2011

In addition to providing critical insight to a bid, tender or proposal, the theoretical “buy-in” to the process from the field manager is invaluable. foundation. foundation software. foundation. foundation software. Add new tag. business development. change orders. cloud computing. communication. construction.

Construction 120

Construction Software Software Accounting 120

Contractor Bookkeeping

OCTOBER 18, 2013

If your bookkeeper is an employee and they have no equity interest in your company they do not have the same concern about your construction company''s cash flow and bottom line profit that you do because when it fails they can blame you for "Not knowing how to run a business" and go wreak havoc elsewhere.

Contractors 48

Contractors Bankruptcy Cash Flow Accounting 48

Construction Business Owner

FEBRUARY 2, 2012

Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. leadership decisions were relatively easy – who to hire, where to grow, which jobs to bid and how much margin to put on them. foundation. foundation software. foundation. government.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

DECEMBER 9, 2011

In fact, project managers should worry about implementing more safe practices because it can affect the way they bid on jobs. Lower insurance costs mean project managers can submit more competitive bids on a job because they are no longer worried about higher employee costs-a win-win all around! foundation. foundation software.

Construction 137

Construction Insurance Software Software 137

Construction Business Owner

JANUARY 26, 2012

Venture helps you manage your contacts using construction specific criteria, invite potential partners to bid on work, and even prequalify subcontractors, so you create the best team for the job. foundation. foundation software. foundation. foundation software. Project Communication. Add new tag. change orders.

Construction 120

Construction Software Software Documentation 120

Construction Business Owner

JANUARY 13, 2012

« The Expensive Process of Bidding. foundation. foundation software. foundation. foundation software. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs.

Construction 120

Construction Software Software Accounting 120

Construction Business Owner

NOVEMBER 17, 2011

With the number of companies bidding on each job increasing and the margins getting smaller, it is imperative that you know the true health of you fleet. This in turn lets the estimators use equipment rates that are spot on when estimating forthcoming work, which helps to get new work, and bring that work in profitably. foundation.

Construction 137

Construction Software Software Equipment 137

Levelset

JULY 18, 2022

As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. What kinds of jobs are they bidding on? Keep the cash flowing through your financial pipes. Here’s a little-known fact about growing a plumbing business: It can be incredibly cash-hungry.

Cash Flow 52

Cash Flow Accounting Profitability Legal 52

Contractor Bookkeeping

NOVEMBER 18, 2013

A lot of our contractor clients have needed an Accident Prevention Program to include with their bid submittal package and some of them have found this resource useful. There are an infinite number of reasons why most construction companies do not generate a minimum 20% net profit and a six figure after tax income for the owners.

Accidents 48

Accidents Accounting Construction Profitability 48

Construction Business Owner

APRIL 12, 2012

A prequalification program that tracks vendors certification, will also help you when it’s time to start bidding on projects. foundation. foundation software. foundation. foundation software. Good document management software will be able to keep those certifications on file. Add new tag. business development.

Construction 120

Construction Certification Green Software 120

Construction Business Owner

APRIL 4, 2011

– will ultimately determine if you are on the bid list or in the negotiating room for the next project. foundation. foundation software. foundation. foundation software. As the general contractor we will have ultimate responsibility for the construction quality and fit and finish of the facility. Add new tag.

Construction 120

Construction Software Software Accounting 120

Rory Woolsey

FEBRUARY 28, 2012

Knowing where the key project metrics such as time , costs, resources , and cash flow are relative to a datum (the project plan). A poor plan for time, costs, resources and cash flow is sometimes worse than no plan. Scope is the foundation to every other phase of construction estimating. Knowing what? Enough said!

Estimating 40

Estimating Cash Flow Budgeting Budget 40

Contractor Bookkeeping

AUGUST 25, 2014

In normal times, contractors who pay close attention to their Five Key Performance Indicators financial reports and stay aware of the macro global economy and the micro local economy can plan ahead and earn a normal profit after paying the owners a reasonable salary. Pent Up Demand #01 - Deferred maintenance.

Contractors 48

Contractors Accounting Hawaii Profitability 48

Autodesk Construction Cloud

JANUARY 6, 2022

The benefits of collaboration may include fewer changes and rework, a higher likelihood of an on-time delivery, higher profits, fewer wasted materials, and other important positives. Each member of the construction team is forced to compete with the others to earn a reasonable profit; delays, conflicts, and disputes are common.”.

Construction 52

Construction Estimating Design Budgeting 52

Contractor Bookkeeping

JANUARY 2, 2015

The idea was you would do all the work they would get half the profits and you politely refused, or not? Tax Advantages For LLC or a Sub S - If you do not setup your corporation correctly the profit or loss from your business will be passed through to the owners as normal income. 20% Of The Contractors Earn And Keep 80% Of The Profits.

Construction 48

Construction Insurance Accounting Claims 48

Contractor Bookkeeping

JUNE 20, 2014

You do all the work they get half the profits and you politely refuse. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. You bid on a project and you are the low bidder. This is getting very stressful. Go To Your Bank - And they offer you a line of credit.

Insurance 48

Insurance Construction Accounting Claims 48

Levelset

JUNE 10, 2022

For example, a single-family home’s foundation may have 200 tons of concrete, but a skyscraper could contain 200,000 tons of concrete or more throughout its structure. Payment and cash flow. Payment and cash flow tend to function very differently on residential and commercial projects. Timeline and scope.

Residential 52

Residential Commercial Cash Flow Construction 52

Autodesk Construction Cloud

JANUARY 31, 2022

The resilience required to tackle the challenges of 2021 has become a solid foundation for building in 2022. AEC firms should be ready to position themselves as leaders in using technology to meet the legislation’s goals when bidding for projects that will define the next generation of U.S. infrastructure.” infrastructure. .

Construction 97

Construction Autodesk BIM Modeling 97