This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
If your company is experiencing rapid growth, you might find yourself navigating a good news/bad news situation: while your sales figures climb, managing cashflow becomes increasingly complex, pushing you to seek additional financing to meet the rising demand.
We can bill it immediately, which helps to improve our work and cashflow. Now you can pre-invoice, accelerate that cashflow and get that cash in the door. So in terms of accelerated cashflow it’s gone from, what, a few weeks to a couple days? But what were you doing before this?
Internally, Southern Botanical was also looking for greater revenue cycle efficiency and more consistent cashflow. The opportunity to present their story at this year’s show. Several clients wanted a method to auto-pay their balance automatically at the beginning of every month. The company’s results were amazing.
Debt capital can be vital for managing cashflow in construction. Debt payments spread out the cost of a large purchase over time, enabling a construction company to continue to take on new jobs and bring in revenue to tackle the debt while still maintaining enough cash to pay operating costs and grow. .
A favorable article in Fine Woodworking magazine led to a flood of orders lasting months, which gave Louis the cashflow to design and manufacture other products he’s added to his lineup. For example, would the presentation of your next product catalog be more effective if you introduced a mini-tutorial on using one of your products?
Small construction business owners must be adequately prepared to meet with a lender to present their business in the best possible light and ready for the money they need. Getting approved for a business loan or line of credit is more complicated than qualifying for a personal loan.
CBO magazine and Viewpoint Construction Software are pleased to present the webinar, “Managing Information Overload: Transitioning to a Paperless Environment” on June 21 at 1 p.m. With so many sources of information, it’s never been more important to take charge and develop a business information plan. February 2009. August 2008.
I have been amazed at the popularity of the webinars and it will be very exciting to present a live one each afternoon at the show. The thing I like most about the World of Concrete is that I will get to interact with a large numbers of contractors during the four day show. Hope to see you all at the show. February 2009. January 2009.
I certainly don’t have all of the answers, which is why I’ve asked Gregg Schoppman from FMI to present a webinar on social media. So you may be wondering, “Do I tweet or post or share or like, and most importantly, how does this affect my business?” February 2009. January 2009. December 2008. November 2008. October 2008. September 2008.
Every Day You Are - Presented With opportunities to invest your money and the key strategy is putting your money to work where it will earn you the most bottom line profit and increase your cashflow. Have you completed present value calculations? Have you considered discounted cashflows? The Solution.
But when the cashflow stopped, the warranties did not. "We We don't know what the next couple of years are going to present to us.". At the time, home builders put off reevaluating their construction quality, only to wait for warranty callbacks. We don't know what is going to come after this," says Davis. It's unprecedented.
This withholdage helps manage cashflow and ensures that contractors address any final issues before receiving the full payment. Implications for Contractors While retainage benefits clients, it can present challenges for contractors, particularly regarding cashflow.
Despite this, both general contractors and subcontractors struggle with the complexities of the payment process and face significant cashflow obstacles. Time and time again, I hear about contractors’ frustrations and struggles with late payments and cashflow and how it negatively impacts their businesses.
I was in a conference room full of general contractors a couple of years ago, and the presenter asked, “How many of you prequalify your subcontractors?” Keeping track of what’s current in that huge set of documents and making sure others on your team are using current documents are critical. It can also be very time consuming and expensive.
The teams were instructed to decorate the outside of their tipis with symbols representing the past, the present, and the future of the CFMA. The final team exercise was to construct a tipi (this, I learned, is the correct spelling of the Lakota word “thipi” meaning “dwelling”). What impressed me most about the exercise wasn’t the artwork.
During the first part of the meeting, he presented us with a video of Nick Saban, the University of Alabama’s football coach, giving a speech to a group of 1,000 8- to 13-year-old boys attending Coach Saban’s football camp in June 2011. In one of our recent quarterly meetings (in the fall of 2011), he had a special surprise for us.
An effective approach to sharing project documents must include a way to ensure that everyone is using the same (and latest) version, and that there is structure to the way the documents are presented – so folks like my electrical contractor friend can quickly find the information that matters to them. Document Tracking. February 2009.
Each user can typically customize their own dashboard to present just the information that’s important to them, and multiple individuals can be given publishing ability to post information. It can be used to deliver information in near real-time, serving up notices, reminders, company news, links to resources, and even applications.
As you get deeper into the process, you’ll get to tackle challenges with cashflow, marketing, hiring, and more. Keep the cashflowing like water down a valley. Here’s a little-known fact about growing a roofing business: It can be incredibly cash-hungry. You need to be a master of your cashflow.
This growth and recent changes in the construction landscape present both challenges and opportunities for plumbing contractors. The bidding process is one of the most time-consuming and critical to ensure cashflow and steady work. The plumbing contracting industry continues to grow at a promising rate.
This means that the user interfaces of browser-based applications must be designed for ease-of-use, and information must be presented in an easy-to-understand format. Usability: I think most Internet users expect anything in a browser to run quickly and easily. February 2009. January 2009. December 2008. November 2008. October 2008.
While not every contractor has the resources to create their own “app,” the need for construction applications is present, and demand is growing. I’ve even read of contractors creating their own applications to fit their business. February 2009. January 2009. December 2008. November 2008. October 2008. September 2008.
This seems to present a “darned-if-you-do-darned-if-you-don’t” situation. Change orders can be harder to manage – and present more of a profitability challenge – than pre-planned project work. Discussion about change order difficulties tends to be one of two types. February 2009. January 2009. December 2008.
When people know the objective and their role in achieving it, they are fortified against a difficult present and an uncertain future. In these conditions, true leaders can shine and they do so by shining a light of vision and direction. Consider what you are doing to create and share a vision for success with your staff. February 2009.
The company’s innovative products help ready mix producers streamline operations, optimize business processes, tighten quality control and improve cashflow. . The Company’s product suite complements our VERIFI® product line and presents significant opportunities to advance services through data integration.” .
After a round of nominations, the stage has been set for the 6th annual Best Construction Podcast Competition presented by Construction Junkie. On the show, Booth discusses a variety of different construction topics, such as pre-bid contracts, general conditions reviews, tracking and monitoring project issues, and improving cashflow.
2) Scheduling serves as the foundation for cashflow plans. The project schedule defines when the firm is using cash and when. cashflow plan to the start and completion of schedule milestones in. Business Presentations. Without a schedule, it gets done when it gets done. payments should be received.
First, you’ll need to keep track of all of your expenses and be prepared to present them. These types of construction contracts also make administration and cashflow estimates easy. . The lump-sum contract presents a digestible, easy-to-plan-for figure to the owner. They also prioritize quality. .
Present value calculations. Discounted cashflows. Large purchases with a down payment and subsequent monthly payments. Initial purchases followed by monthly or yearly maintenance payments. Apply three investment formulas. Internal Rate Of Return (IIR). Opportunity costs. Here is how we do it for our clients.
It is also helpful to provide the surety with a cashflow projection for the project. Your available cashflow can also be affected by the payment terms and retention amount. Present your good performance to the underwriter and be transparent. Credibility is the key.
Uses of Spreadsheet This program used for managing, analyzing, and presenting information. As a result, a wide range of potential values for cashflows can be generated. It displays multiple cells that together make up a grid consisting of rows and columns, each cell containing either alphanumeric text or numeric values.
You also need to prepare key information about the assets that will be presented to bidders, who will then use that data to evaluate your business and populate their own cashflow and valuation models. At our advisory firm, we urge sellers to disclose everything … including the good, the bad, and the ugly.
Not that anyone is admitting to be doing this, of course - hardly one sentence of the presenter was uttered without the favorite acronym in it, but the doom signs for BIM were ‘on the wall’. Combined that with their new licensing model and I can almost deduct that they have given up on BIM, altogether.
Yet, here we are, with strong sales, great cashflow, abundant profits, and not enough people to build the homes. . I first heard the term “builder of choice” 32 years ago in 1989 when I was working at Pulte Homes and Bill Pulte presented the concept at a board of directors meeting.
Bast has been at his present company for about two years. Even though the recovery was in full swing and business was booming again, Bast reduced headcount at the company from 12 people to 9, improved its cashflow, and grew the bottom line by more than 30 percent. And that was just for starters!
Ever-present risks can delay or completely derail investments. The possibility of running out of cashflow, mismanaging of funds, plummeting economy, increasing cost of materials, and other similar concerns are daunting and real. Like any investment, natural risks are an ever present concern. Financial Risks.
Ever-present risks can delay or completely derail investments. The possibility of running out of cashflow, mismanaging of funds, plummeting economy, increasing cost of materials, and other similar concerns are daunting and real. Like any investment, natural risks are an ever present concern. Financial Risks.
Image from AU session presentation for “Data in the AEC Lifecycle: Using Data to Better Connect AECO Stakeholders” This Autodesk University session emphasizes the benefits of correctly using the enormous amount of data available to decision-makers and how to do so with a unified platform. Josh Cheney, Sr.
I talk endlessly during in person presentations to gatherings of contractors and other business owners about developing and monitoring their construction company''s strategy, expansion isoquants, business plans. What Gets Measured Gets Managed!
As construction teams set the sequence relationships on 3D models and AI tools are used to create various schedule simulations for delivering projects and teams also generate 5D models by adding cashflow information to these models.
These benchmarks are indicative of performance in the various aspects of business operations, including cashflow, overhead control, business development, project performance, staff utilization, and overall profitability. Business Presentations. Thomas Miller & Partners, LLC TSP Inc. Design-Build Institute of America (DBIA).
While consumers are guardedly optimistic about the present, their outlook for the future has dimmed in recent months. • Progress on projects continues to be excessively slow, and we’re having cash-flow and credit issues at a time when newly signed contracts are pushing us to grow our business. Business Presentations.
Video presentation. The software can also predict the companys financial inflows and outflows with CashFlow Reporting combining construction estimating and scheduling data to compute profitability across single or multiple projects. Video presentation. FREE DOWNLOAD. Construction Suite. Online training.
The PM must understand finance and serve as the last bastion of the firm’s cashflow picture. Business Presentations. However, each team member must be allowed to exercise judgment and creativity within the constraints of the project and the team member’s role. • Accomplish rather than excuse. New York Times.
We organize all of the trending information in your field so you don't have to. Join 116,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content