Executive Summary Building a business is ultimately about dollars and cents. You’ve got to not lose money to stay in business. Here’s some advice for those in business or thinking about going into business. Spend less. I thought you had to make money. Most people think that in order for […]
Debt: You Need It
Executive Summary Debt, at least in the American construction business, is helpful when it comes to growth. Here’s a couple reasons why. What is debt? When money is borrowed and then must be paid back, that money which must be paid back is called debt. On your business financials this […]
Lose the Guilt – Mark it Up!
Executive Summary Contractors deserve to be profitable. It’s necessary for business survival. A perceived exorbitant markup should not be fretted over. Mark it up! The “disclaimer”. Profit is markup is fee here. Be advised this article assumes that profit and markup and fee are one in the same. There is […]
The Calibration Period: Plan for Patience
Executive Summary New business relationships do not come free of humps and bumps. Work through these challenges to develop lifelong partners. The need for others. Whether you are a business owner looking for employees, or a front-line manager looking to get a project built, you cannot do it all on […]
Going “Legit”: Lose the Brown Paper Bag
Executive Summary If you’ve been running the accounts receivable and accounts payable out of a brown paper bag and want to go “legit”, here are the first steps. The Background Perhaps you have a successful and operating company – you have for a year or twenty years. But each time […]
Scott Jennings, P.E.: Subject Matter Expert
Scott Jennings, P.E.: Subject Matter Expert Mr. Jennings has decades of experience in the construction industry, from contractor to executive. Below are publications that have asked Mr. Jennings to provide his experienced-based insight on industry topics. Forecasting with Confidence – How Contractors Can Solve Four Common Challenges Breaking Down Data […]
Starting a Construction Business: a 5-Minute “How To”
Executive Summary Starting a construction business has its unique requirements. These plus the norms will get you up and running at your new construction business. Step 1. Do You Know What You’re Doing? This is the first question to ask yourself as you are getting ready to enter, as my […]
Shhh, You’re being Recorded – and Two Other Tips
Executive Summary Just three random important things for contractors that didn’t make up an article all on their own: the legality of audio recording, running one man short, the golden rule of bid forms. What’s this article about? It’s about being a smart contractor in the easiest of ways. Learn […]
Wanna Eat? Help me Kill
Executive summary. Maintaining employment is a factor of your performance, but for construction and engineering firms it is largely dependent on a firm’s ability to bring in project after project. Who’s responsible for bringing in these projects? The answer lies below. The business model. Construction and engineering firms usually do […]