All contractors have experienced bumps in the road — from surprises to delays to the wrong interpretation of plans. These can add up to a lot of headaches and put a dent in your profit margin. Once a bid is won, why not avoid costly mistakes and errors by taking a more proactive approach? You can then build on this process and apply lessons learned. Let’s review how you can use best practices to keep clients happy — from start to finish. Continue »

HiringMore Like This

Business leaders have always been scrutinized for their decision making. In 1914, Henry Ford was both denounced as a fool and praised for doubling wages of factory employees from $2.34 to $5 per day. In 1987, Merck & Company decided to give away a cure for river blindness for free, an unfathomable choice for most pharmaceuticals, because they recognized the cost of the drug would be too high for impoverished international markets.

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Strategic PlanningMore Like This

Streamlining projects and improving performance are worthy goals for any company, but particularly for the construction industry, where meeting deadlines and budgets are essential keys to success. Since its development in the 1990s, the Lean methodology has helped companies across a wide range of industries increase profitability and productivity.

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Managing Your BusinessMore Like This

It would be nice if every construction project not only got off to an orderly start, but also proceeded in a steady fashion all the way through to completion. Unfortunately, this is not always the case. When it comes to manufacturing facilities or other system-intensive building projects, circumstances can change—and change quickly—because the business case for capital expenditures can shift drastically in a short amount of time. It’s not uncommon for work in progress to come to a complete stop.

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Managing Your BusinessMore Like This

The New Year is a time when we collectively decide to improve from last year. It’s the time for resolutions and, perhaps most importantly, it is the time to implement change. For many, change involves losing weight, eating healthier, quitting smoking or making smarter financial decisions. In fact, it is estimated that 45 percent of Americans regularly make New Year’s resolutions. However, only 8 percent actually achieve their resolution goal, according to Harris Interactive.

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Best PracticesMore Like This

Many closely held construction companies do not have succession plans for continuing the business when the major (or sole) shareholder wants to retire.  If family members are unable or unwilling to take over—or if the existing management does not have the financial means to buy the business—an employee stock ownership plan (ESOP) can provide an internal market to buy the closely held stock.

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