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HEADLINES ADDED: August 27, 2009
Would You Let Your Managers Choose their Own Salary?
This is precisely what one Skyline Construction Inc. of San Fransisco is doing. Ok, there are a couple of limitations to this, but basically it boils down to the following: Select employees of the company chose their own salary from a selected range. Then here is where it gets interesting. Those who chose a lower salary had an opportunity to receive a larger bonus at the end of the year if the company turned a profit. Of the 15 employees who were offered to set their own salary, 12... Read More
HEADLINES ADDED: March 09, 2009
To Save Fuel, Westchester County Uses Veggie Oil
... Read More
HEADLINES ADDED: February 28, 2009
Builders Thwart Environmental Liability with Proper Insurance
Many owners undertaking construction projects have begun to educate themselves about the impact of environmental issues as well as the associated liabilities. This includes the performance of environmental assessments before buying the property or the onset of development projects... Read More
HEADLINES ADDED: February 25, 2009
A One-Man Show
Construction equipment downtime can be expensive, and budgets and deadlines don't wait for service calls — so it is important for contractors to have reliable access to service mechanics in order keep their projects on track. For construction companies that don't service their own equipment, that usually involves calling the local equipment dealer and waiting for the next available field ...... Read More
HEADLINES ADDED: February 16, 2009
Actively Manage Your Delay Claims
In present market conditions, construction contractors need to actively manage their risks to avoid bank-busting problems that could have been controlled. A major uninsured financial risk that contractors commonly face is the risk of project delays. Project delays give impetus to a few or many increased expenses, including additional general conditions expense, idle equipment costs, multiple mo...... Read More
HEADLINES ADDED: January 14, 2009
High-Performing Contractor Dec 08
Leadership & Economy One popular industry trade magazine recently carried an article telling contractors that to survive the current economy downturn they should “Cut everything to the bone.” That’s not real leadership. Any butcher can cut and trim. A high-performing contractor seeks more effective means to address the challenging economy. Let’s carry the analogy out – if an individual is overweight and unable to compete in a race - does it make sense to amputate an arm or a leg or cut off muscle to the bone to better... Read More
HEADLINES ADDED: January 08, 2009
Differentiate Yourself with Earth Friendly Green Products
With sales of existing homes falling 0.3% to a seasonally adjusted annual rate of 5.99 million down from the upwardly revised 6.01 million in April, according to the National Association of Realtors, and sales down 10.3% from just a year ago and off approximately 17% from the peak, what can builders and homeowners do to differentiate themselves from the 4.43 million homes currently for sale on the market? Building or remodeling with Green products is the perfect way to do just that.... Read More
HEADLINES ADDED: January 05, 2009
Tools For Tough Times
The current economic climate requires construction contractors to be more vigilant than ever in recognizing and managing financial risks. Cash flow has always been the lifeblood of any contractor. Most contractors (especially general contractors) operate on very thin profit margins, so when the cash stops flowing, the contractor may be unable to satisfy its financial obligations.... Read More
HEADLINES ADDED: January 02, 2009
Keeping things fresh: The strategic plan
... Read More
HEADLINES ADDED: November 27, 2008
Eight construction bosses on their plans to beat the downturn
The construction industry is no stranger to boom and bust, and many senior members of the industry have been here before. James Stagg talks to survivors of previous recessions and asks for their tips for keeping your head above water.... Read More
HEADLINES ADDED: November 21, 2008
Employee Benefits for a Construction Business
A recent question I received: If a company offers no sick pay or vacation pay…but is about to start - which is more important to offer first, anticipating that the next year we can offer the other? Any recommendations re what needs to be in the bank to be sure to cover the expense - obviously, you’d have to figure the basic numbers, but anything else I might not be thinking of? We already offer health insurance. Both sick pay and vacation pay are an overhead expense. Deciding which... Read More
HEADLINES ADDED: November 18, 2008
Milling Means Business
In an economy which has seen the housing market collapse and many construction contractors pull up stakes, Posen Construction, Inc., has not just survived but thrived. The company's formula for success is a diverse offering combining in-house capabilities and a strong work ethic. It also includes having the right equipment to allow the company to pursue the opportunities that diversification of...... Read More
Make Your Business Plan Flexible
A good business plan allows for modifications in times of economic downturn.... Read More
HEADLINES ADDED: November 01, 2008
British Columbia premier Gordon Campbell unveils economic strategy
British Columbia’s premier Gordon Campbell unveiled an economic plan last week that includes fast-tracking the construction of infrastructure projects.... Read More
HEADLINES ADDED: September 16, 2008
10 golden rules for keeping your company safe from the downturn
Worried about the downturn? Barry Knight of law firm Smith & Williamson highlights the 10 golden rules for keeping a construction company on track.... Read More
HEADLINES ADDED: July 31, 2008
A Construction Manager For Pre-construction Services
The construction manager's role is changing. Clients and architects are using pre-construction services more than ever before. If brought in at the right point of ...... Read More
HEADLINES ADDED: July 05, 2008
10 keys to a more streamlined homebuilding company
Homebuilders need a streamlined operation that can grow easily. Here are 10 ways to build that business.... Read More
HEADLINES ADDED: June 23, 2008
Strategy says home renovations must be green
Home owners could be forced to improve the energy efficiency of their homes when carrying out renovation works.... Read More
HEADLINES ADDED: June 02, 2008
Rental And Construction Build A Business
What is the key to success in today's construction market? If you ask Rene Sanchez of Rene's Equipment Rental, a multifaceted firm offering a variety of equipment and construction services to clients in Dade and South Broward County and surrounding areas, he might say the key is loyalty — to customers, to employees and to suppliers.... Read More
HEADLINES ADDED: May 30, 2008
5 ways to motivate staff
As the economy slows down, and concern over job security grows, employee morale invariably takes a direct hit. So how do you keep productivity high in these difficult times?... Read More
State And Local Immigration Laws: The New Challenge For Business
New laws and regulations at every level of government are likely to change the way subcontractors recruit, hire and manage employees. During 2007, more than ....... Read More
HEADLINES ADDED: March 26, 2008
Attitude Improvement for the Construction Industry
For basketball fans, it’s March Madness again. But for some in the construction industry, there is a different kind of madness going around, an attitude that says, “It’s no use. The housing market is going to pot, and so will my business.” It isn’t true. Many contractors are busy and making good money, it’s all in your attitude. Michael will be leading a free one-hour “attitude adjustment” webinar this Saturday morning specifically for those in the construction industry. If you aren’t familiar with webinars, all you need is a... Read More
HEADLINES ADDED: March 02, 2008
Construction Industry Faces Ethical Challenges, Exec Says
To replace departing Baby Boomers, industry must change its behavior.... Read More
HEADLINES ADDED: February 26, 2008
The 100-Page Start-Up Plan -- Don't Bother
FEB 2008 from the Wall Street Journal | Read the full story» [A] growing body of research suggests that some entrepreneurs spend way too long polishing 50- or 100-page business plans when they should be out in the marketplace selling their product or service.... Read More
HEADLINES ADDED: February 18, 2008
Rock Trenching Opens Door To Growth
Here's a look at how the decision to buy specialized equipment opened the door to business growth for a Tennessee contractor. There was a time when some folks in Lebanon, Tenn., were concerned that Eddie Conrad had gone a little crazy. His company, Conrad Construction, was primarily in the business of building roads.... Read More
HEADLINES ADDED: February 17, 2008
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
HEADLINES ADDED: February 14, 2008
Battle Plans
Corporate war games could be the best way of testing business strategy.... Read More
HEADLINES ADDED: February 12, 2008
Specializing in Everything
I was in New York last week, participating in a workshop to develop the new national test for commercial contractors. I’ve been involved with this group for the past 3 years. When the test is complete, commercial contractors nationwide will be able to take the test allowing them to work in any state in the nation without having to deal with the differing requirements now heaped on them by the Contractor Licensing agencies of different states. I’ve written before, both here and in our newsletter, on the importance of... Read More
HEADLINES ADDED: January 22, 2008
Should You Start a Profit Sharing Plan for Your Small Business?
If you're looking for a way to attract or retain employees to your small business, you might consider adding a Profit Sharing Plan to your benefits roster. Profit sharing is an excellent way to motivate employees to work toward a common goal, focuses employees on profitability, and recognize their efforts as a group.... Read More
HEADLINES ADDED: January 18, 2008
AudioVisions: Doing it Best
The AudioVisions business model, which also incorporates software that provides real-time cost analysis for every job, is the scalable platform they plan to use to expand its high-end custom installation business nationally.... Read More
HEADLINES ADDED: January 13, 2008
Competition: How McDonald's Will Kill Itself Killing Starbucks
McDonald's has nearly 14,000 stores nationwide, all of which will be equipped with full-fledged coffee bars and baristas by year's end. Having already begun adding plush seating, gentler lighting and subtler colors to their franchises, the big M is looking to steamroll the limping Starbucks on its own turf. Starbucks, however, isn't going anywhere; rather, it's McDonald's that will be maimed most by its own campaign to destroy the Seattle super-brand.... Read More
HEADLINES ADDED: January 08, 2008
State Your Business
Along with vague mission statements, most companies also lack values with grit. Forget "excellence." Try "Never lose a superstar," say BusinessWeek Columnists Jack & Suzy Welch (Audio)... Read More
HEADLINES ADDED: January 07, 2008
Selling Your Business
Selling your business is not as easy as you thought: Potential buyers won't flock to your business if you simply put up a for sale sign. Here are some tips to help you find the best buyers.... Read More
HEADLINES ADDED: January 06, 2008
The 80/20 Rule -- and Surviving (thriving) during a recession
... Read More
HEADLINES ADDED: January 03, 2008
How Do I Develop My Children into Family Business Leaders?
If you own a family business and are hoping to someday turn over the reins to your adult children, you may be struggling with the best way to help develop their leadership skills. Experts say start early, be open, provide opportunities, and hold them to the same business and performance standards as non-family members... Read More
3 Easy New Year’s Financial Resolutions for Every Net Worth
Now that the new year is here, Americans are busy making resolutions for 2008. Why not resolve to make some straightforward improvements to your financial life?... Read More
Why Large Contractors Fail
Will Hill from FMI Corp. is the guest on this episode of the Construction Equipment Owner’s Podcast. Hill discusses a recent report from FMI Corp. that looks into the results of an in-depth study and analysis of the causes of large-contractor bankruptcies and why these failures occurred. Get a copy of the report by contacting FMI Media Relations at mediarelations@fminet.com or calling (919) 785-9359.... Read More
HEADLINES ADDED: January 02, 2008
Buy-Sell Agreements: Ticking Time Bombs or Reasonable Resolutions?(Brief article)(Book review)
Buy-Sell Agreements: Ticking Time Bombs or Reasonable Resolutions? by Z. Christopher Mercer, ASA, CFA Peabody Publishing LP, 2007, 324 pp. Predicting the future is practically impossible. For businesses, that uncertainty makes planning crucial. Z. Christopher Mercer offers a granular look at one Publication: Journal of Accountancy... Read More
HEADLINES ADDED: December 27, 2007
Growing Pains or Growing Gains?
The devil is in the details when you build your company through acquisitions.... Read More
Look Who's Not Talking
Both company directors and senior managers place a premium on strategic planning. So what keeps them from collaborating on it?... Read More
HEADLINES ADDED: December 25, 2007
Is Your Company Prepared For Your Absence?
If you had an unexpected accident or suddenly fell seriously ill, how prepared is your company to operate without you for any extended period of time? ... Read More
Overhead Question and Answer
Question: Hello Matt; After reading your book, I have a question regarding dual overhead percentage and Total Mark-up percentages. My mark-up percentage calculates to 35%. For my dual overhead calculations I am using a 8% profit, 7% material/sub-contractor & 20% Labor and equipment. This totals to 35%. The thing that I have noticed is that if I take my raw labor/equipment, materials/sub-contract costs, & take them x 1.35 this total number is higher than if I accumulate the percentages separately on my spreadsheet. Is my process correct? Is this... Read More
HEADLINES ADDED: December 19, 2007
Ownership: The Ultimate Motivator
Encouraging employees to take ownership of their work will result in better customer service and a stronger company.... Read More
HEADLINES ADDED: December 18, 2007
Small Jobs in Construction
After publishing our 5 newsletters on “How To Get Your Phone To Ring”, I have heard from any number of contractors that tell me they are focusing on small jobs. Those small jobs are turning into additional calls asking for work to be done on a larger scale. So, small jobs = large jobs. When the market is adjusting, as it is now, don’t get to hung up on the idea of “We don’t do small jobs.” Put your ego in your pocket and leave it there. Those small... Read More
Acquiring Minds Want to Know
New software and services help buyers assess the IT systems of potential takeover targets.... Read More
5 Ways to Prepare Your Company for Your Absence
Here are five ways a business owner can help him or herself protect against the effects of long-term absence.... Read More
HEADLINES ADDED: December 16, 2007
2008 Business Planning
Brian Tracy says, “It doesn’t matter where you are coming from. All that matters is where you are going.” So, let me ask you. How are you doing with your year-end planning? You should be well into the process by now, at least 2/3 of your 2008 plan complete. A little effort, a little work each day, some good quality thinking time and you will assure yourself, your family and your business a better 2008.... Read More
HEADLINES ADDED: December 13, 2007
Include Public Works In Your Offered Contracting Services
... Read More
HEADLINES ADDED: December 12, 2007
Why Partnership Agreements Are Important for Low-Voltage and Electrical Contractors
As integration of low-voltage equipment becomes increasingly in demand, low-voltage and electrical contractors alike will be pursuing this avenue of revenue. Make sure it all works out.... Read More
HEADLINES ADDED: December 09, 2007
The Founding CEO's Dilemma: Stay or Go?
Q&A with: Michael J. Roberts and Noam T. Wasserman Editor's Note: Noam Wasserman is an assistant professor and MBA Class of 1961 Fellow in the entrepreneurial management unit at Harvard Business School. His paper "Founder-CEO Succession and the Paradox of Entrepreneurial Success," published in Organization Science in March-April 2003, won Harvard's 2003 Aage Sorensen Memorial Award for sociological research. With his coauthor, Rock Center Entrepreneur-in-Residence Henry McCance of Greylock Partners, professor Wasserman recently completed a case study about founder-CEO succession at Wily Technology. New Business publisher Mike Roberts met... Read More
HEADLINES ADDED: December 04, 2007
Contractors: Boost Your Bottom Line with Green Building Practices
... Read More
HEADLINES ADDED: November 29, 2007
Diversify for stability
How has your year been? Pretty good, Id guess unless your market focus is new residential construction. A recent report by Associated Builders and Contractors finds that in the 12 months from September 2006 to September 2007 nonresidential construction spending grew almost 17% while residential construction spending declined almost the same amount, just over 16%. So contractors invested primarily in that market have felt the seat belt tighten and heard the tires screech as residential new construction slammed on its brakes, and those contractors probably are trying to decide... Read More
HEADLINES ADDED: November 28, 2007
After Six Corrections, Centex's CEO Knows the Ropes
"At Centex, we are used to taking advantages of these cycles .... Read More
Contractors - Do You Offer Discounts?
... Read More
HEADLINES ADDED: November 26, 2007
Tax and Legal Ramifications of Selling Your Business
Inevitably, A Taxing Time... Read More
HEADLINES ADDED: November 25, 2007
Ownership and employees
... Read More
Military vs. MBA
"We find that military people really understand managing multiple priorities, and overall customer satisfaction. They have a real go-get-it attitude. They are self-starters who won't leave until the job is done right."... Read More
HEADLINES ADDED: November 21, 2007
Scrambling to Find a Successor
BusinessWeek columnists Jack & Suzy Welch answer the question: If good succession planning makes so much sense, why isn’t it more common?... 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
HEADLINES ADDED: November 02, 2007
75 per cent advertising, 25 per cent referrals?
... Read More
Lowball Competition
A coaching client recently told me he was being “underbid” on a remodeling job that will run $200K+. The other company, up till now, had only built new homes. My client’s quote was roughly $220,000 and the other quote was about $175,000, over 20% lower. For those of you that have had this or similar problems with low-ball quotes, here is what you need to do. This, by the way, is outlined in our new sales book, Profitable Sales; A Contractor’s Guide. Prepare a short blurb explaining to prospective... Read More
HEADLINES ADDED: November 01, 2007
How Do I Develop My Children into Family Business Leaders?
If you own a family business and are hoping to someday turn over the reins to your adult children, you may be struggling with the best way to help develop their leadership skills. Experts say start early, be open, provide opportunities, and hold them to the same business and performance standards as non-family members... Read More
HEADLINES ADDED: October 29, 2007
4 Steps Homebuilders Can Use To Raise Quality Standards, Boost Profits
By setting and enforcing quality standards with your team, you can minimize warranty claims and retain more profit from the homes you sell both now and in the future.... Read More
HEADLINES ADDED: October 25, 2007
Perils and Pitfalls of Double-Breasting in Construction
Sometimes construction company owners believe it is to their advantage to be able to work union shop on some projects and open shop (non union) on others. Sometimes this is accomplished by maintaining an open shop company and then subcontracting some...... Read More
Builders and remodelers - surviving a downturn
I was reading Builder Online Magazine this morning and came across an article talking about the crunch many builders and remodelers are going through right now. In part, it said: Veterans look at the rookies and shake their heads. “They’ve never been through a downturn,” they say, wise from years of ups and downs. “They’ll never make it.” The veterans are right, of course. Many of the rookies won’t survive.hey won’t. It is not because they don’t know how to get a home or remodel job built. It is... Read More
HEADLINES ADDED: October 24, 2007
Do You Need a Family Business Retreat?
If your family business frequently operates more like a dysfunctional family reunion than an actual business, you might benefit from an off-site family business retreat.... Read More
A Different Animal Seeks The Chief Executive Post
The gap between No. 1 and No. 2 in a company is often bigger than many realize. Here's a look at some of their differing traits.... Read More
HEADLINES ADDED: October 22, 2007
Company Culture Helps Mercedes Homes Net NHQ Silver Award
A strong company culture that garners high customer and employee satisfaction contribute to Mercedes Homes’ receiving silver recognition for the National Housing Quality Award.... Read More
IBEW Employs Creative Recruitment Strategies
We've all heard Willie Nelson sing, Mamas, don't let your babies grow up to be cowboys. What if the lyrics to this song referenced contractors instead of cowboys? How about electricians, plumbers or painters? Although there may not be a song on the airwaves discouraging children to get into the skilled trades, the message is no less prevalent.... Read More
How Do I Develop My Children into Family Business Leaders?
If you own a family business and are hoping to someday turn over the reins to your adult children, you may be struggling with the best way to help develop their leadership skills. Experts say start early, be open, provide opportunities, and hold them to the same business and performance standards as non-family members... Read More
HEADLINES ADDED: October 19, 2007
Succession Planning Tips for Builders
Make sure your business isn't caught off guard by sudden changes in leadership.... Read More
HEADLINES ADDED: October 15, 2007
Smart Business: A Graceful Exit
Subcontractors in certain trades experienced a magic moment in time during the roll-up craze of the 1990s. Scores of owners were able to sell their businesses to consolidators for millions of dollars. Many are still living the good life off those deals. A few got burned by accepting payment mostly in consolidator company stock, almost all of which subsequently tanked, but those who negotiated cash or mostly cash buyouts did well for themselves. For a handful it was like a well-paid extended vacation, because they ended up reacquiring their... Read More
Coming Together
Mergers, acquisitions, consolidations and various other forms of organizational blending that have taken place over the roofing industry’s past have not always been beautiful things. In fact, some ended up looking more like what happens when two trains merge head on at 70 miles per hour.... Read More
HEADLINES ADDED: October 11, 2007
High-Performing Contractor - NEWSLETTER Oct 2007
**************** Leadership Ted Garrison discusses the importance of being a high-performing contractor: read more... Read More
Strategic Planning for Construction Contractors - Unwound
I have witnessed several strategic planning attempts which have resulted in many successes and a few failures. From afar and with discussions with construction contractors (some of which are clients of mine), I have summarized my observations and subsequent analysis of strategic planning efforts in construction contracting companies below. 1) If a consultant is utilized to facilitate this effort, make certain he or she has the following characteristics: a. Construction specific experience. Generalists will use overall business models and concepts that may guide you to an inefficient and ineffective... Read More
HEADLINES ADDED: October 05, 2007
System 7: A Floor Plan For Success
One of the keys to running a successful business, according to Gerard Lynch, “is to look at the big picture from the outside.”... Read More
HEADLINES ADDED: September 27, 2007
Rebuilding Buyers' Trust
The National Association of Hispanic Real Estate Professionals (NAHREP) today announced a new Code of Trust, a set of ethical practices for its members.... Read More
HEADLINES ADDED: September 26, 2007
Security Installations: 2 Reasons For and 2 Reasons Against
Here are some reasons for and against being involved in the security business.... Read More
HEADLINES ADDED: September 25, 2007
Are You Really Growing Your Business?
Nearly every integrator with whom I have spoken this year has told me that their business has largely been unaffected by the housing slowdown.... Read More
Strategic Planning for Construction Contractors - Unwound
I have witnessed several strategic planning attempts which have resulted in many successes and a few failures. From afar and with discussions with construction contractors (some of which are clients of mine), I have summarized my observations and subsequent analysis of strategic planning efforts in construction contracting companies below. 1) If a consultant is utilized to facilitate this effort, make certain he or she has the following characteristics: a. Construction specific experience. Generalists will use overall business models and concepts that may guide you to an inefficient and ineffective... Read More
What Will the Sub Prime Meltdown Mean to Your Construction Firm?
Much has been written and much more will be written about the sub-prime lending meltdown. Certainly for a fiscally conservative person, I find some of the commentary confusing and co-dependent. As I look out some months ahead and try to project what this means to my clients, I can confidently state a few predictions. These comments are from someone who has managed in recessions - two to be exact. 1) This slow down will be different than the previous ones. More specifically, we have different causes and resulting effects... Read More
HEADLINES ADDED: September 24, 2007
It's Time to Go Back to School
By getting involved in this market, you can certainly bring more dollars to your bottom line. You will also help keep our kids safer and healthier.... Read More
HEADLINES ADDED: September 17, 2007
Eight Ways to Thrive in a Down Market
When business slowed in the Dallas/Fort Worth area, Frymire Services — a leader in residential HVAC new construction — made many changes to stay competitive. Those survival tactics helped the company expand, and prepared it for subsequent slow periods.... Read More
10 Steps to Successful Succession
In virtually any sport, a successful game plan involves preparation, assessment of options, and team development.... Read More
The New Logic of Offshoring
The next generation of offshoring—innovation and engineering—is at hand.... Read More
HEADLINES ADDED: September 04, 2007
Balancing The Three Jobs of Growing a Business: Lawn Mower, Plumber, and Contractor
Weeds are growing in the yard…so I’ve scheduled the lawn mower to trim the yard.My wife told me the toilet is leaking at its base. I called a plumber to keep things running.And we’re in the middle of working with a pool contractor to extend our patio to change the usefulness of our backyard. It takes a lawn mower, a plumber and a contractor to run and increase your house investment. It struck me these are also the ‘jobs’ – in essence --to run and grow a business. There... Read More
HEADLINES ADDED: April 23, 2007
3 Critical Rules for Avoiding a Customer Service Meltdown
If anyone ever doubted that a customer service crisis can suck the life out of your brand in a heartbeat, examine the Presidents Day Jet Blue fiasco.... Read More
HEADLINES ADDED: April 16, 2007
Lessons From the Tarmac
Take it from David Neeleman and JetBlue: Recovering from a crisis is about the trust you build beforehand.... Read More
The New Business Plan
... Read More
HEADLINES ADDED: April 15, 2007
The Right Target for Response Rates
What is the right target for response rates for a high-quality NPS survey process? That was the question I was asked at the recent Net Promoter Conference in New York City. Prior to this conference, I would have answered that response rates between 30% and 60% seem like a reasonable goal for a well-designed relationship survey. Now, I am convinced that these targets (which many consider radically aggressive) are actually far too low.When Barry Saik, VP of Product Management at Intuit, described in his general session presentation how Intuit... Read More
HEADLINES ADDED: April 14, 2007
35 Companies You Want to Work For
These 35 organizations go above and beyond the usual call of duty for their employees based on 10 characteristics that create a balanced and friendly work environment.... Read More
HEADLINES ADDED: April 13, 2007
The Six Keys to Organic Growth
In 'The Road To Organic Growth', Edward Hess takes a Jim Collins-like approach to find 22 businesses that epitomize the organic growth model. With research backed by a comprehensive study, Hess set forth to explain the underlying qualities these 22 businesses have in common.... Read More
HEADLINES ADDED: April 09, 2007
Questions about NPS – and Some Answers
Some forum members have raised questions regarding the relationship between Net Promoter Score (NPS) and growth. This blog entry will address some of these concerns and suggest practical solutions for two of the issues: Can a one-question survey predict growth as accurately as a long survey? If you can convince a customer to spend time answering dozens of questions, you can predict that customer’s behavior more accurately than you can with one question. The problem is, most customers in this busy world won’t give you that much time—witness typical... Read More
HEADLINES ADDED: April 08, 2007
Creating a high performance culture – breathe in and out
Developing a culture that creates competitive advantage is critical to business success. But because culture is all about attitudes and behaviours, many organisations find this impossible to achieve. Here's how to go about it.... Read More
Innovate: It's the Only Way!
Some say it is the economy, others speak about the lack of motivation of staff members, and many attribute it to the increased lack of balance between work and personal life. Whatever it is --this state of limbo, of disengagement, of blah -- it has seeped into many organizations. This is a recurring theme with many of our clients at Training By Design: the topic of motivation, or lack thereof, as the case may be. I walk into countless meetings where the first thing out of the mouths of... Read More
Don’t Believe Everything You Read
“NPS is the most powerful tool we have ever deployed at GE.” This evaluation comes from Dan Henson, a 20-year GE veteran who is now the company’s chief marketing officer. His comments, based on several years of experience implementing NPS across a wide range of businesses, stand in stark contrast to a recent article in an academic market-research journal. That article, written by two professors, not only concluded that there is no connection between NPS and business growth or profits, but also cautioned that using NPS “is misguided and... Read More
Leading Ideas: Simplify Your Focus
"Simplicity is the ultimate sophistication." -- Leonardo da Vinci (1452-1519) Consider this: Simplicity isn't simple. Complexity is simple. Anyone can make something complex. Read the front page of any newspaper. You'll find complex problems everywhere. Look into your own life. You'll find complex forces at play. Complexity is the natural state of things. Sophistication lies in your ability to SIMPLIFY complexity. It lies in your ability to make sense of the world around you. You can't do everything. Understand what's important and what's not. Pick your focus and act.... Read More
Want to grow your business? Give customers more sprinkles
If a product or service comes with an introductory consultation, an additional battery, free samples, donut holes for the people waiting in line, the consumer takes in these extras and feels good about their choice. But when these options are charged as premiums, measured by the ounce, or not made an integrated part of the customer experience, the perception tanks.... Read More
HEADLINES ADDED: April 04, 2007
Working Word-of-Mouth to Reach the Influencers
Word-of-mouth is a powerful advertising tactic. How can you ensure the right consumers are talking about your product?... Read More
HEADLINES ADDED: April 03, 2007
High Quality Trumps Low Cost
The 'QI' standard can help contractors ensure they consistently raise the bar on quality.... Read More
HEADLINES ADDED: April 02, 2007
Present Your New Pricing Strategy Effectively
When discussing a price increase in a business-to-business environment, it is important to remember that customers have probably had to have the same discussion with their own customers. A company exists only as long as it earns a profit, and it can only do that if it delivers a quality product or service at the right price.... Read More
HEADLINES ADDED: March 31, 2007
Squeezing the CM Is Penny Wise and Pound Foolish
Listeners to WQXR, the radio station of the New York Times, have long been subjected to the voice of discount retailer Sy Syms, saying, "An educated consumer is our best customer."... Read More
HEADLINES ADDED: March 30, 2007
Risk vs. Reward
Today's successful building industry executives rely on people, processes and research to minimize the risk of making a mistake.... Read More
Marketing Planning and Strategy
In this tutorial we examine the importance of marketing planning with emphasis on the role marketing strategy plays in the planning process. This part...... Read More
HEADLINES ADDED: March 29, 2007
Make strategy meetings shorter, but more productive
Most of us are tired of wasting time at unfocused meetings, especially when they are supposed to be about strategy. So here are three simple rules to keep meetings moving and on target.... Read More
HEADLINES ADDED: March 27, 2007
Digging it out of the ground
... Read More
No Business is Perfect
Is it unrealistic for us to expect businesses to be perfect? Are we setting ourselves up for disappointment by expecting businesses to flawlessly deliver every single time? As customers, are we expecting perfection when perfection is unattainable? Is that fair of us? I’m not trying to make excuses for when businesses fail us. But failure happens. No business is perfect. Yet, we seem to expect businesses to be perfect all the time. One poor encounter with a company’s customer service rep sets many of us off into a rage... Read More
HEADLINES ADDED: March 26, 2007
A Vital Jack Welch Quote
“Too often we measure everything and understand nothing. The three most important things you need to measure in a business are customer satisfaction, employee satisfaction, and cash flow. If you’re growing customer satisfaction, your global market share is sure to grow, too. Employee satisfaction gets you productivity, quality, pride, and creativity. And cash flow is the pulse—the key vital sign of a company.” -- JACK WELCH -- source | CONTROL YOUR DESTINY OR SOMEONE ELSE WILL (Noel Tichy, 1993)... Read More
HEADLINES ADDED: March 25, 2007
On Being Disruptive
Authors Scott D. Anthony and Claytom M. Christensen, writing for Forbes.com, have an innovative approach to innovation. They call it “disruptive innovation” and it essentially means two things: thinking outside the box and thinking like a customer. They posit that “Customers don’t really buy products; they hire them to get ‘jobs’ done in their life.” Accordingly, the first of the five principles of disruptive innovation is to find jobs people want done but they can’t do easily or affordably. In other words, the frustrated customer. That’s what Intuit did... Read More
Seven steps to remarkable customer service
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The DNA of Wal-Mart
I’ve already gushed about Bill Marquard’s business strategy book, WAL-SMART. In the book, this former Wal-Mart executive explains because of Wal-Mart’s unbridled success, this mega-retailer has forever changed the game of business from sourcing to distribution to pricing to inventory methods to merchandising. It’s now up to companies today (and tomorrow) to deal with doing business in the world that Wal-Mart has created and redefined. Since Marquard spent time at Wal-Mart in the late 90s responsible for developing the company’s strategic planning processes, he has a very unique understanding... Read More
HEADLINES ADDED: March 24, 2007
An Important Strategic Question for Construction Contracting
We have not seen a recession since 1992. It is a gilded time. We should be thankful and many contractors are. The previous extended economic expansion was in the 1980’s. At the time, many believed the Reagan era was a rare occurrence. To be sure, it was rare and predictably, it did end. Hence, present day contractors may be looking through rose colored glasses; especially those construction firms who were formed after that last difficult time in our industry. A shakeout is coming. There will be less construction contractors... Read More
HEADLINES ADDED: March 19, 2007
Surviving and Thriving in the Wal-Mart World
In the late 90s, Bill Marquard worked deep inside Wal-Mart as a strategic thought-leader. Besides his first-hand Wal-Mart experience, Bill also spent 17 years at Ernst & Young, did a stint as the EVP/Chief Knowledge Officer at Fleming, and served eight-years as an adjunct professor of finance at Northwestern’s Kellogg School of Management. (So, he has some business chops to speak of.) Bill has written a brilliant book, WAL-SMART, which sheds new light on Wal-Mart’s business DNA and how companies can profit in the Wal-Mart world we live in.... Read More
HEADLINES ADDED: March 18, 2007
Fund Puts Premium On Well-Run Firms (Investor's Business Daily)
Investor's Business Daily - Manage the company well and its stock price will follow is the way Richard Weiss picks the holdings of $1.14 billion Wells Fargo Advantage Common Stock Fund (NASDAQ:STCSX - News). This isn\'t just for Wall Street - well run firms are ALWAYS more valuable in the long-run... Read More
Simonini Builders: A Retrospective
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The Top Brass at Simonini Builders
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Simonini: People Profiles
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More about Simonini
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Where the Money Is
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Favorite Book 2007
The Toyota Way is my favorite book for 2007. It had so many good ideas that I could not keep up and ended up reading it again and even buying the Field Book to go along with it.
Download Elegant Solutions from Change This which provides some highlights of the Toyota Production System. Too many ideas that are applicable to contractors to even count!
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