Construction Business Owner, December 2014
5 organizational priorities to keep your business booming
The most successful business owners are true to themselves and their customers. They are clear about what they want out of life and business, and possess an incredibly honest and realistic view of their skills, strengths and weaknesses. They have a knack for making customers want them regardless of...
Tips for driving engagement and improving your bottom line
For an industry that’s all about helping people build the future—satisfying demands for new and better structures—construction itself is stuck in the past. Compared to other industries, construction has been slow to embrace the many technologies designed to improve jobsite efficiency. We do what...
When 80 percent of work is driven by 20 percent of employees, make sure you select the best
During the economic downturn, many construction business owners were forced to cut back their labor force in order to survive. This strategy may have worked in the short term as businesses cut costs and got used to operating with fewer people, but as the economy recovers, those same businesses are...
Make sure these employees are familiar with work sites, understand their roles and know who to contact about safety practices
As the economy improves and construction projects pick up, employers are looking to hire temporary workers. Employing temporary workers has advantages for the employer, including the ability to scale staffing levels quickly. It also has advantages for the worker, such as the ability to quickly find...
Simplify how you locate, evaluate and convince reliable suppliers
From time to time, every contractor needs to look for new subcontractors. Maybe you need to set a higher quality level or comply with newly introduced standards. Maybe you’re expanding your business to another part of the country or branching out into specialized projects. Maybe you want to reduce...
5 ways to convert unused equipment from an idle burden to a cash flow solution
You’ve probably seen it—that piece of heavy equipment abandoned in a field and overtaken by weeds, or the entire row of machines collecting dust in a fleet yard. Although many equipment owners sold idle equipment during the 2008 economic downturn, some businesses failed to sell off all of their...
Letting go of micromanagement contributes to employee development and business growth
In business, there is a correlation between successful workload management and a profitable bottom line. It may seem like delegation is built into a construction business by default through its organizational structure of project managers and subcontractors, but making that structure actually work...
3 real benefits of demonstration facilities in equipment evaluations
As a business owner, you wouldn’t purchase a car or a truck without a test drive, so you shouldn’t miss that opportunity with your construction equipment. In an era when excavators, wheel loaders and articulated dump trucks are more advanced than ever, you need to thoroughly evaluate brands and...
Hard work and efficient techniques enabled excellence throughout the Pentagon Renovation Program
In three previous articles regarding the Pentagon Renovation Program, I’ve traced the development of new approaches to acquisition, organization and motivation. Little did we know these new ways of doing business would soon be dramatically tested. We were neophytes in the use of design-build,...
How GPS technology can help reduce overhead and increase productivity
Telematics, including GPS vehicle tracking systems, provide construction business owners with a powerful tool to help cut costs and operate their vehicles more efficiently. But, there are other important benefits to a telematics solution that are often overlooked. These include improved...
Understand the relationship between work in progress and the recognition of revenue
One of the most important, and often misunderstood, aspects of construction accounting is the relationship between work in progress (WIP) and the recognition of revenue. The failure to understand these concepts can often result in future cash flows from a project being insufficient to meet the...
Integrating technology into operations management
Innovations in equipment and building materials have greatly refined efficiency and enabled some of the greatest feats within the industry. However, truly improving productivity in operations requires more than a sophisticated scraper, bulldozer or drill. Technological innovations on a smaller...
The case for employing remote security monitoring on construction sites
Throughout the last decade, the construction industry has spawned an entirely new black market industry—construction theft. According to the National Insurance Crime Bureau, as much as $1 billion in construction tools, equipment and materials is stolen nationwide each year, 90 percent of which is...
Set goals to become an effective leader and take responsibility for the success of your company
Stan is the owner of Compass Contractors, primarily a subcontractor specializing in metal studs and drywall installation on office building projects. Stan constantly struggles with the demands of owning and managing his business, from working on bids, estimating, ordering materials and scheduling...
Make a daily commitment to create happy employees and drive bottom-line results
Why won’t my employees just do what I tell them? Why am I struggling to motivate my team? Why aren’t they giving me the performance I need? If any of these questions sound familiar to you, you’re not alone. You were probably promoted because you’re a competent technical professional. You know...