The ProfitDig Blog

When you are just getting started as a contractor, one of the more confusing things to deal with is how to find construction jobs to bid on. It’s not as hard as you think. There are several ways to find construction jobs to bid on, including: Online job boards and websites: Websites like BidClerk and […]

GMP (Guaranteed Maximum Price) is a type of contract in construction project management that sets the maximum price the owner will pay for the construction work, regardless of actual costs. The GMP is agreed upon before construction begins and is based on the contractor’s estimated cost of the project. The contractor is responsible for delivering […]

Using job bidding software can be beneficial for a new construction company owner. It can help streamline the bidding process and provide a more professional and accurate bid proposal. However, it is important to consider the cost of the software and weigh it against the current volume and size of your projects and the potential […]

A construction project will generally involve numerous types of specialties. Nobody knows how to do everything! That’s why General Contractors hire subcontractors to perform specific parts of the job in which they have expertise. A project generally starts by having to dig into the ground – excavation! Excavation is a specific type of construction work […]

Rapidly rising materials costs are a real concern for any construction contractor, especially in light of the price inflation we are experiencing these days. But there are strategies you can use to mitigate the risk and save your profit. Here are ten strategies you can use to account for rising materials prices: Including a contingency […]

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 design work along the way (especially during the […]

Construction bid bonds are a topic that the new construction company owner may not know much about. I am going to give you a quick primer so you know what you are dealing with. When you get into construction jobs of a larger scale, whether you’re a prime contractor or a subcontractor, you’re going to […]

When first starting out, most small construction company owners will do their own estimating, in addition to the actual work on the jobsite. So the question then is when is the time right to hire a full-time estimator? In my opinion, you need to be in business for a while. Hiring an estimator is definitely […]

Let’s talk about how to bid a construction job. You are going to want to provide a professional looking bid that clearly matches the requirements of the job. The bid will be divided into sections called “headers” and “bid items.” Headers are top-level items that consist of one or more bid items. To create a […]