Construction Business Owner, June 2012
Executive Insights from Construction Industry Leaders Construction Business Owner interviewed top executives and CPAs at accounting firms, as well as leaders in the surety and insurance industries who concentrate their practice on construction. In addition to providing insight into best...
Test the health of your construction company.Click here to take the quiz.Quiz Evaluation1. Financial AnalysisAnalytical ratios can be used to pinpoint weaknesses in a construction company’s financial position. Ratios generally fall into four major categories:1. Liquidity ratios measure a company’s...
Understand how your experience modifier can impact your construction insurance premium. Editor's Note: See Steven Davis's other articles in this insurance series that covers every type of insurance coverage a contractor needs.When insurance companies assign premiums, they compare an individual...
Before moving your construction company's data to the cloud, follow proper security measures to protect sensitive information. After considering the advantages of cloud computing—from its mobile accessibility to cost-savings—many construction companies have decided to move to the cloud. While...
Discover how to use software to track your construction equipment. Managing equipment, attachments and tools becomes a full-time job for many companies. And in some cases, it requires two or three full-time jobs.With today’s technology, managing assets should never require dedicated...
Work with a fleet management company to find the best vehicles at the best prices and ensure timely maintenance. Whether you need to purchase new equipment, expand operations or invest in growing your business, finding the necessary cash could be as easy as reconsidering your fleet of vehicles...
Learn about the future of clean diesel technology, and take advantage of the benefits.  “If you told me in the mid-1990s that we could put the words ‘clean’ and ‘diesel’ together, I would say you are completely out of your mind. Yet, here we are today to celebrate 10 years of clean diesel...
Understand Section 179 and bonus depreciation provisions to realize the tax benefits when purchasing construction equipment. To boost the weak economy, tax year 2011 saw unprecedented provisions in fixed asset expenses. Construction company owners benefitted from the provisions, which allowed...
Examine your working capital to maintain stability and obtain a strong bonding program. A strong working capital gives a construction business security, flexibility and the capacity to outlast a recession. It also serves as the foundation for a contractor’s bonding program. A Surety’s...
Test Your Fiscal Fitness: Take this quiz to determine the health of your construction company.Fitness relates to running numbers instead of miles for construction company owners. Do you have a financially fit construction company? Take this quiz, and then read on for an evaluation of each question...
Gain a better understanding of Owner Controlled Insurance Programs. Editor's Note: This is the first of a two-part series on controlled insurance programs. The second article will focus on Contractor Controlled Insurance Programs (CCIPs)Most contractors operating in the United States have...
The Human Element: Steps to manage relationships among all construction project stakeholders Managing the human elements can influence the outcome of a construction project just as much as having the proper technique or state-of-the-art materials. Construction projects vary in size and scope,...
Begin with the end in mind to prevent profit fade and finish construction projects strong. Contractors often focus their attention on a project’s start but fail to emphasize the importance of finishing. They resemble a thoroughbred emerging from the gates at Churchill Downs but trip and...
A blueprint for making successful hiring decisions for your construction company. After coaching construction business owners throughout the years, I have learned that most have a common fear of hiring the wrong person. They postpone hiring for months and even years to avoid making a mistake....