DON'T SEND YOUR TECH OUT IN THE FIELD WITHOUT ANY TOOLS

You would consider it the height of insanity to send an untrained, ill-prepared service technician out on a call without any tools. The only thing crazier would be expecting him to solve the customer's problem. Yet, service companies do it all the time. They don't send the technician out ill-prepared technically, just ill-prepared to answer customer questions about new services and products.... Read More

Business management for construction

I had a note in from a friend the other day regarding our book, “Markup & Profit; A Contractor’s Guide“. One of her clients had gone to a construction bookstore to purchase the book. A store clerk advised them not to purchase it because, they said, “It is out of date.” The Markup & Profit book is as relevant today as it was when it was first published. It is a business management book for the construction industry. It is not about construction materials or construction techniques; materials and... Read More

Is there a risk of training?

I’m not going to reveal names or companies but some contractors believe they should teach their employees everything they know — and should even open their books to employees so the employee feels more a part of the company and better understands some of the company decisions. Other contractors keep a tight rein on their workers, teaching them only as much as they need to know to perform their specific job — and no more. Which approach is best? I lean toward the former but that depends as much... Read More

Performance-based Salaries Motivate Employees, Fatten Profits

Integrators might want to take a new look at the old way of compensating salespeople, technicians and programmers. ... Read More

Are You Losing Control of Your Business?

Networks and resources for startups abound, but small companies managing expansion need help, too. No. 1 on your to-do list? Make a "stop doing" list.... Read More

Cut the Fat

download as PDF“Two rules:  #1 Preserve the principal and #2 When in doubt, see Rule #1.” –Warren BuffetQUESTION: What possible good could come out of the construction slow down? ANSWER: Too many to cover in just one short article! Here are just a few. Of course some action may be required on your part. This first series is on cutting the fat and turning a financial downturn into a win for your construction company.Forced Ranking Look around your company for those employees that just don’t shine quite as brightly... Read More

Smaller Builders Share Survival Strategies

Getting more from less was a common theme expressed by small builders and remodelers who participated in a seminar at the International Builders' Show in Orlando on Thursday that focused on how to weather the housing downturn.... Read More

Measuring Up: How to Avoid Plunder in Slower Economic Times

Sometimes it can be difficult to keep things in perspective. Adapting to a changing market versus panicking and imagining problems that don’t exist can be a tough balancing act to follow. How do you keep your business sharp and prepare for the future without making mountains out of molehills? This article contains some business tips designed to help you keep things in perspective.... Read More

Give Till It Doesn't Hurt

BusinessWeek columnists Jack and Suzy Welch say that if rewarding your stars with bigger-than-ever-before checks does not come naturally for you...practice, practice, practice. (Audio)... Read More

Czech workers guilty of battering boss to death

The boss of a Bolton-based construction firm was murdered by two of his own workers, a court has found.... Read More

The Case Against Case Studies

24 JAN 2008 from BusinessWeek | Read the full story» How Columbia's B-school is teaching MBAs to make decisions based on incomplete data.... Read More

You Can't Learn Management in a Classroom

25 JAN 2008 from BusinessWeek | Read the full story» A leading management thinker argues that MBAs need more real business world experience in their education.... Read More

How Investing in Intangibles -- Like Employee Satisfaction -- Translates into Financial Returns

Contrary to management theories developed in the Industrial Age, employee satisfaction is an important ingredient for financial success, according to a new research paper by Wharton finance professor Alex Edmans. His findings also challenge the importance of short-term financial results and may have implications for investors interested in targeting socially responsible companies. The paper is titled, "Does the Stock Market Fully Value Intangibles? Employee Satisfaction and Equity Prices."... Read More

Factors Shaping Our Future Workforce - Part 5 - Need for a Higher Purpose in the Workplace

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The 80/20 Rule -- and Surviving (thriving) during a recession

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Businessman or remodeler?

Which business is going to be more successful? The one run by a remodeler turned businessman or businessman turned remodeler? I think abo...... Read More

Are you using the office "grapevine" to its fullest potential?

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Tools to Reduce Change Orders

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Challenged Employees Are Happy Employees

One of the greatest challenges the construction industry faces today is labor and training. The average age of a competent technician is mid-forties, and is inching towards retirement. Some also say that a lack of training in new recruits can cause a need for extra body count on job sites to make up for the lack of skill and experience.... Read More

Are We Creating Hardworking Idiots?

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Construction Verification Makes Doesn’t Replace Your Experts - It Makes Them Better

A... Read More

Sponsor Profile: ABC Supply Co. Inc.

Many distributors talk about putting the customer first. ABC Supply Co. Inc. lives that promise every day. For 25 years, the company has distinguished itself by following a single, simple guiding principle — take care of contractors better than any other distributor by understanding their businesses and offering products and services carefully selected to meet their unique needs.... Read More

The Six Practices of High-Impact Nonprofits

In this excerpt from the book Forces for Good, authors Leslie R. Crutchfield and Heather McLeod Grant share what makes a nonprofit effective.... Read More

You Can't Do It All Yourself!

During my first seven years starting and building my construction company, I tried to do it all myself. I did all the estimates and presented the bids; I signed all the contracts, subcontracts and change orders; I made the big field decisions; I purchased all materials and equipment; I awarded subcontracts; I went to all the job meetings; I supervised concrete slab pours; and made every personn...... Read More

Firing a Client

It is a tough emotional day when you have to fire a client. When we started in this business, we had one or no customers. It was scary. I can remember waking up in the middle of the night and asking myself why I ever left my regular job to go out on my own. No clients means no income. A truly humbling but, electric experience. Small victories mean more when you have little. So, we all remember that time. As we mature as business owners, we soon discover... Read More

Plan For the Future When Business is Down

The time to lay plans for expanding business is not when business is flourishing. ... Read More

Realists vs. Idealists: Thoughts about Creativity and Innovation

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BUSINESS BASICS FOR CONTRACTORS:

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Tip 96 – Debunking the Time Myth

I always hear people say that they don’t have the time to look for a new job or consult with a personal board of advisors or make that extra call to an important contact. BS, let's get real. When you say “I don’t have time,” just admit that you are really saying “I don’t want to. Others things are more important, and I am not courageous enough to admit that fact to myself and others.” You make time for what is important to you! ... To get complete, future... Read More

Builders Look Back, Prepare to Move Forward

Builder executives speaking at Building and Building Products CEO Conference in New York City didn't have sure-fire plans to keep their company afloat in a stormy market.... Read More

Why You Should Include a Joker in Every Brainstorming Session

The Fast Interview: John Morreall on the link between humor and innovation, why authoritarian bosses fear humor, and the funniest CEO in America.... Read More

Materials Suppliers Need To Change

What was considered value added yesterday in material distribution is not necessarily value added today or tomorrow.... Read More

Sales: Salary Vs Commission

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Is Your Bid Only An Estimate?

You know what I really hate as a general contractor? We negotiate an easy project to build with a great repeat customer. They trust us, don't question our costs and then award the job at our price. Then, seven months later, we discover our estimator didn't have enough in the budget for labor to complete all the work and we don't make any money.... Read More

The annual planning meeting

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Business planning

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Pave The Way To Profits

Imagine, it's the height of the paving season, the jobs have been bid and your crews are on-site ready to work. A call from one of your haul truck drivers lets you know they're still waiting in line at a competitor's asphalt plant. With the competitor's trucks taking priority and the season at its peak, the lines are extra long.... Read More

Equipment Maintenance Boot Camp

One of the most effective ways of improving your bottom line is by making sure that everything you own with an engine or motor is on a scheduled maintenance program. Controlling fuel costs has to be of great concern to everyone in construction. Fuel prices are almost as predictable as the stock market or next year's election results.... Read More

How Do I Develop My Children into Family Business Leaders?