Category: Construction Industry

Payroll Tips for Construction Subcontractors

Construction payroll is more complex than payroll in more “traditional” industries. Your payroll can fluctuate when a new project starts, and every week throughout the job right up to its completion. Managing payroll internally is time-consuming, inefficient, and potentially exposes you to mistakes, lost revenue, theft and fraud. Yet, many contracting companies still choose to… Read more »

Eight Strategies to Increase Your Profit Margin

Blog Featured Image Profit Margin Strategies

Revenue is the lifeblood of your business. Profit supports your goals for growth, but many construction contractors operate on the thinnest of profit margins. Here are eight strategies you can start using today to increase the profit margin on individual jobs, and your company’s overall profit margin. #1 Know your job numbers. They say every… Read more »

Why You Need a Dedicated Payroll Checking Account

Why You Need a Dedicated Payroll Checking Account

Do you stress over payroll? Construction subcontractors face an uphill battle every week to get payroll checks written and delivered. First there is the construction industry’s slow payment problem; it is hard to pay your team when you have not been paid for the work they have been doing. But many business owners compound the… Read more »

Bidding Tips for Construction Subcontractors

Bidding Tips for Subcontractors

Your bid is a powerful tool. It’s like Thor’s hammer, knocking down the competition and winning you victory! But only if you know how to wield it. Submitting an ineffective bid, even one that wins you the job, is like swinging that hammer right at your own kneecaps. You’re probably going to go down, and… Read more »

5 Questions to Ask Your Construction Insurance Broker Before You Renew

Construction Insurance Rates Set to Rise

The construction industry is poised for a bit of a shock in 2020, as rates across multiple lines of insurance — including General Liability, Automotive Liability, and Umbrella or Excess Liability — are set to increase. According to Willis Towers Watson’s Insurance Marketplace Realities 2020, the rate increase predictions land anywhere between 5% to 30%,… Read more »

Why Subcontractors Need to Talk About Slow Payments with General Contractors

: Why Subcontractors Need to Talk About Slow Payments with General Contractors

Slow payments in construction impact everyone, but subcontractors get hit the hardest. After all, you’ve already financed the labor, materials and equipment to get the work started; a delayed payment means you can’t replenish your cash reserves and you may have trouble making payroll or other critical payments. Most subcontractors make up the difference with… Read more »

Active Listening is the Secret Skill You Need to Grow Your Business

Active Listening Blog Image

If there were one skill you could learn that would make you a more effective leader and business owner, would you invest in mastering it? Of course, you would! Active listening, the act of giving your complete, undivided focus to what someone is saying, can improve your workplace culture, help you build relationships with partners,… Read more »

Why Vulnerability Can Be Your Greatest Business Strength

Vulnerability Blog Image

Trying to be a great leader can be like trying to catch lightning in a bottle. You can’t force it to happen. For many people, the mere act of trying to be a great leader — whether among your family, friends, employees, or colleagues — results in exactly the opposite. Leading is done through your… Read more »

How To Create a Website For Your Commercial Construction Business

Web Design for Commercial Construction Companies

If you build your website to drive business, it can. You may be thinking, “I construct buildings, not websites,” but getting this essential business asset up-and-running isn’t as difficult as you may think. If you don’t have one, or yours hasn’t been updated in years, we’ve compiled a guide of tools and resources to get… Read more »

What to Do When Your General Contractor Doesn’t Pay You 

Fist punching a table

Is your general contractor refusing to pay you what you’re owed? Does it feel like they’re almost trying to make your job even harder than it is? This is an all too frequent situation we hear about from our subcontracting clients. The consensus is clear: Everything would be a whole lot easier if the general… Read more »