Oct 19, 2021 | Job Bidding, Blog, Finances
In construction, “GMP” stands for “Guaranteed Maximum Price.” It is a contract whereby the General Contractor guarantees that the total cost of a project will not exceed a set amount. It is often a sort-of design-build kind of thing because the GC and its subs do the...
Jun 3, 2021 | Finances, Blog
Constructiondive.com recently published an article that we thought did an excellent job of explaining the surge in lumber prices. You can read the complete article here. Here is a bullet point summary of the items discussed in the article: Many sawmills closed down...
May 17, 2021 | Job Bidding, Blog
We talk a lot about job bidding because it is an absolutely critical skill if you want to start and grow a successful construction firm. This article summarizes some of our best job bidding advice and contains several videos in which we discuss various aspects of the...
Apr 20, 2021 | Blog, Uncategorized
One thing that you’ve got to be aware of is something my Dad always warned about (even though we ended up falling into the same trap), which is putting all of your eggs in one basket. Put another way, avoid too much dependency on a single customer for business. That...
Dec 29, 2020 | Management, Blog, Finances, Marketing
As we discussed in our last issue, 2021 is going to be a competitive year. If you want to succeed, you need to manage your business well (professional job bidding, accurate costing, etc.) AND you need a marketing plan to create new business! So let’s talk about...
Dec 17, 2020 | Blog, Management
You need to have relationships with multiple suppliers. After you have worked a few jobs, you can look back and compare the quotes you have received from different suppliers and see what your potential savings are working with one supplier or another for different...
Dec 9, 2020 | Job Bidding, Blog, Finances, Management
Construction activity is slowing down in some places, so this is a good time of the year to evaluate your business from a high level standpoint and begin considering what you can do to build a bigger, more successful company. We talk often about strategies for better...
Nov 18, 2020 | Job Bidding, Blog, Finances, Management, ProfitDig Updates
Here are some of the major recent upgrades to the ProfitDig system that will save you time and make your job easier: Project Manager viewing restrictions. There was some concern from larger companies that Project Managers had too much visibility on employee hourly...
Nov 4, 2020 | Job Bidding, Blog, Finances, Management
It doesn’t matter how good you are at performing the work for which you are hired – if you don’t manage the money coming in and going out, you will end up broke. If you own a construction company, you’ve probably got a lot of money going out,...
Oct 14, 2020 | Construction Equipment, Blog, Finances
If you’re leasing equipment, that’s not a bad thing. A lot of time that is an especially good decision if you are just starting out. If you get into a situation where you are going to have a long-term need for a piece of equipment – 5 or 6 months or...
