Cash flow management is essential to a construction contractor business. Every business shares a common need: Cash. It pays the bills, it keeps the lights on, it puts food on the table. Cash isn’t just king — it’s LIFE. Yet for many contractors, this critical aspect of their business is managed ineffectively or not at… Read more »
A construction contractor’s Schedule of Values is just as important to the project’s success as the bid. It also can help you get paid faster, retain more margin, improve your cash flow, and even improve your team’s performance. That’s a lot VALUE hidden in your Schedule of Values. To cash in on all of that… Read more »
A smart construction bidding process can not only help you win more jobs, it can help you fund your company’s growth and success. That may seem simple — bid more, win more, make more, right? — but the relationship between bidding and growth is more complex and filled with more potential. If you are planning… Read more »
Cash flow is one of the most important factors of your construction company’s success. Good organizational cash flow management provides financial security for today and the stability to grow in the future. Cash flow also impacts performance. Specifically, the cash available for a project has a direct impact on your team’s ability to do its… Read more »
Mission, vision, core values, and purpose statement — there’s a lot to unpack when you’re transforming your business into one driven by purpose, not just profit. Each of these statements will be one piece in your overall business strategy, along with your key products or services, financial goals, and the activities you will undertake to… Read more »
Low profit margins in construction have been an issue for decades, and even as we climb back toward normalcy following the shutdowns caused by the coronavirus, there are few signs if any that profit margins will increase with increased demand. In fact, most contractors seem to expect the opposite. According to the Associated Builders and… Read more »
Growth is great, but growth without cash flow to support it can actually be a killing blow to your business. Sacrificing profitability for growth is like digging a grave and thinking you are building a castle. You’re not, and eventually you’re going to get buried. You need a cash flow plan that covers your present… Read more »
To transform your company into a purpose-driven business, you need to become a purpose-driven leader. A purpose-driven company aligns its business goals to an external goal or mission. Success and purpose live hand-in-hand for these businesses, which tend to experience faster growth, enjoy greater camaraderie, and deliver better customer experiences. A company’s purpose has to… Read more »
Construction has a major skilled labor problem. Working with registered apprenticeships or creating a private apprenticeship program can help your company fill your talent pipeline with skilled workers ready to go to work for YOU! In this episode of Built for Growth, Kyesha Robinson and Natasha Sherwood share how building apprenticeships, mentoring, and education into… Read more »
Are you ready for your business to do more? To become a true leader for your team? To build camaraderie and loyalty and drive success through your team’s aligned efforts? If you answered Yes, you are ready to transform your business into a purpose-driven company. If you answered No, keep reading. Purpose-driven companies tend to… Read more »