October 2015
New emission standards for 75-horsepower engines and above mean more educational awareness
In 2015, the U.S. Environmental Protection Agency (EPA) mandated that all 75-horsepower and above nonroad machines reach full, Tier 4 compliance. The goal of the emission standards for nonroad equipment is to lower harmful exhaust emissions, such as particulate matter (PM) and nitrogen oxides (NOx...
Develop a plan, determine the value of your business and find the right buyer
A survey of 230 of America's fastest growing companies (according to Inc. magazine) indicated that more than one in three business owners plans to sell their company within the next five years. Yet, a recent survey by Securian Financial Services found that more than 60 percent of business owners...
Explore technology adoption issues and equip your team with the tools needed to understand the options
New technologies are being introduced into the construction field at a dizzying rate, literally forcing construction professionals to adopt or risk being outpaced by competitors. The following paragraphs explore adoption issues the industry is currently struggling with and help equip construction...
4 solutions to common challenges with the complex wording in project contracts
General contractors, subcontractors and business owners risk substantial financial loss if they enter into contracts that are not supported by their insurance program. This risk has increased since the Insurance Services Office (ISO) made significant revisions to Additional Insured Endorsement...
Review the trends driving price changes in safety equipment
Investing in equipment and systems to keep employees safe is a key concern for all construction firms. The National Safety Council estimates that a workplace injury costs employers $30,000 on average. Additionally, Liberty Mutual estimates that each dollar invested in injury prevention reduces...
Benefits that beat traditional methods of information sharing
For construction companies, creating a workflow that operates effortlessly has not always been an easy undertaking. Unlike conventional workplaces, connectivity isn't always guaranteed and traditional devices are not necessarily sturdy enough for the less-than-forgiving construction jobsites....
Optimize your managers and workforce with real-time data
Ask any experienced project manager about the biggest challenge of delivering projects on time and on budget, and the conversation will always come down to people. In construction, efficient project management is highly dependent on the performance of the workforce. This critical business function...
4 tips to revitalize your marketing strategy
Research shows that 45 percent of organic Web searches are conducted using a mobile device, and experts expect mobile searches to double by 2019. If your construction company is dragging its heels behind the online revolution, it's time to sit up straight and pay attention. It is nearly impossible...
Are you OK with doing free work?
In your company, who decides if extra work is free? Lots of changes, problems, requests and trade-offs occur on construction jobsites to keep your projects moving. Your customer asks your crew to move a pile of dirt, fix a mistake on the plans or do a little extra painting to help them out, or the...
Gain greater control and flexibility when establishing a line of credit for your fleet
It makes sense to diversify financial investments to protect against sudden losses in one type of stock or bond. The same reasoning can be used when considering different lines of credit for your business and examining the benefits of diversifying your lenders. Especially when it comes to your...
Work more effectively to deliver high-quality projects on time and on budget
Construction business owners must have sophisticated project management functions in place or they wouldn't stay in business very long. However, is it time to consider that project managers might be sticking with these dedicated, specialized tools and best practices at the expense of improving the...
Develop a service mentality to produce short-term profitability and long-term value
In an industry where bigger means better, service-oriented contractors are the often forgotten group of builders and constructors. For many firms, the service element of their business is the "little cousin," accounting for a significantly smaller portion of the firm's volume. However, as firms...
4 key terms and how they work to determine the status of a new, variable-hour employee
An Applicable Large Employer (ALE) must report to the IRS in monthly snapshots for the calendar year: 1) Those "full-time" employees (at least 30 hours of service per week), and 2) Whether they were offered health care coverage. But, what about those employees who are hired into positions with...