Is Your Bid Hit Ratio OK?

by | Apr 3, 2019 | CONSTRUCTION BUSINESS TOPICS

Bid-Hit ratio is the rate at which you successfully bid or propose on projects.  For example, a 5 : 1 Bid-Hit ratio says for every five jobs you bid or propose on, you are awarded one.  Do you know what your Bid-Hit ratio is?  Do you keep track of it?  How do you use...

Handshakes Don’t Count!

by | Apr 3, 2019 | CONSTRUCTION BUSINESS TOPICS

Doesn’t it seem like there are three phases to most construction projects? — (1) Pre-Construction, (2) Construction, and (3) Lawsuit?  Contractors, subcontractors, and specialty contractors are optimists.  They bid jobs regardless of difficulty, location...

Handshakes Don’t Count!

by | Apr 3, 2019 | CONSTRUCTION BUSINESS TOPICS

Doesn’t it seem like there are three phases to most construction projects? — (1) Pre-Construction, (2) Construction, and (3) Lawsuit?  Contractors, subcontractors, and specialty contractors are optimists.  They bid jobs regardless of difficulty, location...

How Much Profit Is Enough

by | Apr 3, 2019 | CONSTRUCTION BUSINESS TOPICS

Business owners often ask me: “How much profit should I expect to make? AS MUCH MONEY AS POSSIBLE! Is this a target? MORE! More than what? These are not clear targets or goals. A young entrepreneur came to me for advice and told me his five year goal was to work...

How To Get Paid Fast

by | Apr 3, 2019 | CONSTRUCTION BUSINESS TOPICS

Want to improve your cash flow? Then follow these tips to ensure prompt payment for your work. The construction business used to be so easy. All you had to do was bid, build and bill. Submitting bids that were clear, complete and competitive would get you more jobs....