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5 Tips To Make Your Construction Business More Profitable

cnstrctr

Construction is a cut-throat industry, and making your construction business more profitable can be a challenge. Making more money isn’t rocket science, by following our five tips you’ll be increasing your profits in no time! Understanding your competition is key to making your construction business more profitable.

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BuildTools Provides the Solution for Managing Demanding Clients

Pro Builder

But Platinum Homes was losing money on change orders from demanding clients. BuildTools provides a way to document client interactions and remove any gray area, keeping everyone up to date on common points of conflict such as budgets, change orders, and schedules. West Point project, built with BuildTools.

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Starting Profitable Construction Company Unique Secrets Revealed

Contractor Bookkeeping

There are a number of people who pass out advice on how to start a profitable construction company; however, very few have actually done it and fewer still had a clear understanding of where they were making or losing money and fewer yet have ever gotten past the point of owning a J.O.B. Construction Project Manager PMP.

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Process Dependent Vs. People Dependent Increases Contractor's Profits

Contractor Bookkeeping

Not using Additional Work Orders or Change Orders (Click For FREE Change Order Template). Cash flow issues kill contractors even though they have profit. Changes in their operations due to contingencies beyond their control. Ignoring Profit Centers and Key Performance Indicators (KPI).

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6 Common Causes of Cost Overruns in Construction Projects

Autodesk Construction Cloud

To know how to address cost overruns in construction projects, it’s important to understand the root of the problem. Oftentimes, overruns hint at deeper issues in project management and from schedules and budgets being set improperly from the very beginning of the project. Not Planning for Change Orders.

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7 Steps to Successful Project Closeout

Autodesk Construction Cloud

However, 77% of projects experience some form of schedule overrun , so a project that is on pace to finish on time is a cause for celebration. The final days of a project have a huge impact on your overall profitability and success—as the saying goes, projects are remembered not by how they start but how they finish.

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Construction Business Owner Blogs

Construction Business Owner

Rarely does a finished project exactly mirror the original plans. I know from my days as a general contractor that plans and specifications are altered continuously as subcontractors become involved, materials are changed, and change orders are issued. Committing Intentional Project Communications. change orders.