article thumbnail

12 Pitfalls New Contractors Should Avoid

Construction Business Owner

New contractors, like all contractors, face challenges around workload: cash flow, staffing and contracts. A savvy new contractor is one who anticipates and protects their fledgling business against the many challenges both on the jobsite and back at the office. Construction Insurance. Section In the Office.

article thumbnail

A Cash Flow Guide for Architects

Levelset

However, like any other business, you need to maintain positive cash flow or you may find yourself unable to pay your workers and other expenses. Let’s take a look at the basics of cash flow and how architects can budget their expenses and forecast their income to stay in good financial standing. Cash flow basics.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Subcontractor Default Insurance: Pros & Cons for General Contractors

Levelset

Subcontractor default insurance is one alternative to a surety bond that works to protect a contractor from the financial burden when one of their subcontractors defaults. Related: 16 types of insurance coverage for contractors. What is subcontractor default insurance? How SubGuard insurance works.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. Data Security in the Cloud » Collaborating on Cash flow. The topic of cash flow never seems to get old – after all, sustained negative cash flow often results in slashing budgets, personnel, and in the worst cases shutting down of a company. STRATEGY |. MANAGEMENT |. ACCOUNTING |.

Cash Flow 120
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. While there are numerous reasons to change software applications, there are two that regularly come up in our discussions with prospective clients: cash flow control and project cost control. Back to Cash Flow. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. February 2009.

Cash Flow 120
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. Collaborating on Cash flow » The Year of Mobile Technology? And there are plenty of advantages to “mobilizing” your construction company: improved communication between field and office. real-time data updates at the office , leading to better reporting and better data on which to make decisions.

Mobility 120
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. The Office, The Field, and Technology. There’s no better example of the business silo in construction than the separation that many companies experience between field operations and office management. STRATEGY |. MANAGEMENT |. ACCOUNTING |. SOFTWARE |. MARKETING |. EQUIPMENT |. General Management. August 2008.