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If you and your project manager spend 13 hours preparing an estimate for a remodeling job, how much money have you invested in the project? Would you have been better off spending those 13 hours getting things done on one of your current projects?
All clients come to the table with a set of unspoken expectations, some of which they may not even be aware of. Because these assumptions will inform every decision they make, it's important to bring them into the open and prioritize them early on. This will help you decide whether you and the...
As a financial consultant to small construction companies, I've seen lots of cases where a builder finished a job and the bookkeeper closed the books on it — only to have a late subcontractor bill for that job show up months later.
The true cost of labor
Give your customers some credit
I don't much like allowances, which let homeowners postpone decisions that really should be made before the project even breaks ground.
Our remodeling company has been using lead sheets — simple printed forms on which we record information about potential clients who call our office — for several years now.
In 2006, occupational fraud cost U.S. businesses about $600 billion, or roughly $4,500 per employee, according to the Association of Certified Fraud Examiners. Building contractors rank second in the list of targets, after retail stores.
Are you spending your time profitably?; four-day workweek pays off
The first estimate my company ever produced was for a basement remodel. I spent an hour driving back and forth to the prospective client's house, two hours talking to her, and then several more hours doing a detailed estimate.
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