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When the construction markets crashed in 2008, many workers in the skilled trades left to pursue employment in an industry with a more stable outlook. One of the greatest challenges business owners face in the current economy is finding and hiring quality employees.
If a business is unprofitable in 2011, and has no taxable income to use the deduction, that business can elect to use 100% Bonus Depreciation and carry-forward to a year when the business is profitable. December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009.
Querying different type of jobs in job costing to look at profitability by type. December 2008. November 2008. October 2008. September 2008. August 2008. Looking at Over/Under Billing and posting the adjustment to the year-end financials. Preparing Sales & Use tax reports for sales tax authorities.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Healthy Competition » Free Webinar on Reducing Profit Fade. One problem that even the most savvy contractors deal with is profit fade, when a job continues to incur additional costs that are not factored into the estimate. In turn, profit fade can dramtically affect cash flow and hinder the possibility of booking new jobs.
« Free Webinar on Reducing Profit Fade. December 2008. November 2008. October 2008. September 2008. August 2008. About Us Contact Us Advertise Press Releases Upload Artwork Via FTP -->. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. August 2009.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Customer Collaboration & Construction Software » Staying Focused in the Fight Against Profit Fade. There’s a name for these situations: “profit fade.” The profit you calculate when bidding a job can fluctuate dramatically as work progresses. Construction Business Owner E-Newsletter. -->. Home » Blogs.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
And risk can be a profit center, since insurance companies obviously make money. Even if this doesn’t become an actual source of profit in and of itself, contractors who actively work to understand and control risk are in a position to make smarter project decisions that lead to higher profit margins. December 2008.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Free Webinar on Reducing Profit Fade » Game Changers. December 2008. November 2008. October 2008. September 2008. August 2008. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs. « “Stress” tests. November 2009. October 2009.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Foundation Software has been profitable in each of its years of business since 1985. December 2008. November 2008. October 2008. September 2008. August 2008. They have a number of open-ended and close-ended questions that qualify the prospect in terms of being a fit for our software. We Walk the Talk.
But without exception, the story that each team told through their symbols focused on people, not projects or profits. No discussion of business practices, financial measurements, or profit-building strategies. December 2008. November 2008. October 2008. September 2008. August 2008. November 2009.
The tone of the attendees at ICSC’s “Global Retail Real Estate Convention” (RECon) in Las Vegas last month was as positive and energizing as it was in the commercial construction boom years before 2008. The past few years at RECon have always been helpful and worthwhile, but, to be honest, the mood was somewhat dour.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Bayfield & Roberts, 2005, Hook & Stehn, 2008, Howell, 1999, McGrath-Champ & Rosewarne, 2009). Profitable partnering for LC. Lean construction is not simply a matter of applying Lean manufacturing concepts. References: Abdelhamid, T. Lean Construction Reading Primer. Retrieved July 12, 2010, from [link] Alinaitwe, H.
Being obsessed with Fixing What’s Broken, Building a Digitized Platform and Exploiting the Platform for Profitable Growth is how they describe the IT Savvy firm. Within the book, they outline the journey of becoming IT savvy as having four stages: Localizing, Standardizing, Optimizing and Reusing. .
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Staying Focused in the Fight Against Profit Fade » Connecting in Construction. December 2008. November 2008. October 2008. September 2008. August 2008. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs. November 2009. October 2009. September 2009.
« Staying Focused in the Fight Against Profit Fade. December 2008. November 2008. October 2008. September 2008. August 2008. Free Subscriptions. Construction Business Owner Magazine. Construction Business Owner E-Newsletter. -->. Home » Blogs. November 2009. October 2009. September 2009.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
But the point at which the office meets the field – where job progress is tracked, profitability is calculated, invoices and change orders are processed – this is the point where bad (or no) communications between the field and the office results in diminished performance and profits. December 2008. November 2008.
But to count on them as the source of profit is to bank on an unpredictable variable that is not under your control, that is hard to manage, and that you may wish to use for a completely different purpose – business development (more on this in a moment). December 2008. November 2008. October 2008. September 2008.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Education leads to improvement, efficiency, and profitability! December 2008. November 2008. October 2008. September 2008. August 2008. Webinars, whitepapers, classes, and user conferences like this most recent one: So do yourself a favor and keep learning! November 2009. October 2009. September 2009.
This in turn lets the estimators use equipment rates that are spot on when estimating forthcoming work, which helps to get new work, and bring that work in profitably. December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009.
Alas, those days are long gone, which means we’re left to manage our fuel consumption or lose profit margins. December 2008. November 2008. October 2008. September 2008. August 2008. Recently, some of my colleagues attended a seminar on fuel management by Eric Newton of Comdata. November 2009. October 2009.
Look for software that does a better job providing applications based on the workflow of a project from cradle to grave, and that provides web-based anywhere-any time visibility into job progress, profitability, change management, and more for everyone who involved in the success of a job. December 2008. November 2008.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
The stellar profits of the previous two years dissipated because of the confluence of declining volume, lower revenues, and higher costs per loan." The 2022 deficit represents a 113% decrease from the previous year's average income of $2,339 per mortgage. Read more Financing Affordability Market Data + Trends Financing
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
Carefully monitoring these numbers will help you preserve profit and build more accurate bids on future projects. December 2008. November 2008. October 2008. September 2008. August 2008. This year, I encourage you to close the gap between your bids, your projections, and the actual cost of the project.
In the end, jobs must translate to bottom-line profitability.” December 2008. November 2008. October 2008. September 2008. August 2008. In the February issue of CBO, FMI consultant Gregg Schoppman points out some important lessons every construction business owner can learn from Beane’s story. November 2009.
Banks are attracted to profitable business. December 2008. November 2008. October 2008. September 2008. August 2008. There are also some approved finance companies, such as GECC, that will finance heavy equipment purchases. They also, however, are attracted to smart and proactive business owners. April 2009.
Jim is a senior consultant with FMI and specializes in building profits by developing tailored operations strategies for his clients. If leadership success was measured only on profitability, then there were certainly many “great leaders” sitting in the CEO position of many contracting companies. December 2008. November 2008.
December 2008. November 2008. October 2008. September 2008. August 2008. November 2009. October 2009. September 2009. August 2009. April 2009. March 2009. February 2009. January 2009. Tags accounting. accounting software. Add new tag. business development. change orders. cloud computing. communication. foundation.
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