Tag: Construction

One of the not-so-secret ways to run a profitable construction business is to follow sound accounting practices. Mistakes in financial reporting can be costly, potentially leading to budget overruns, cash shortfalls, delayed projects, unpaid bills Read More

The construction industry continues to face supply chain slowdowns, labor shortages and inflation — though the latter of the three has generally moderated a bit as of late. To monitor and optimally respond to rising Read More

The construction industry has always been all about mobility. Yet many contractors continue to hold on to paper processes that keep employees — and project information — unnecessarily tethered to the front office. The widespread Read More

Construction company owners are great at completing projects, but many struggle to properly build a succession plan. Even if your retirement is decades away, it's never too early to start. In fact, by initiating the Read More

Most experts would agree that the best way to minimize fraud at any company, including a construction business, is to take a holistic approach. As the owner, you must set the tone at the top Read More

Construction business owners know that cash is king. However, managing cash flow in an industry known for its ebbs and flows isn't easy. And when you throw in the steady rise of inflation and ongoing Read More

Many contractors prioritize business financial management over personal wealth management. It's an easy trap to fall into given how competitive the construction industry can be. Let's discuss some ways to manage your wealth while you Read More

Your neighborhood ice cream shoppe no doubt operates under a simple fixed price, point-of-sale billing method. Construction companies don't have it so easy. Because of the project-based, decentralized nature of construction work, contractors need to Read More

While many businesses handle sales in a single transaction, construction contracts often cover months or even years and include multiple payments. As you're well aware, the longer-term nature of construction projects can prevent contractors from Read More

The construction industry has been facing a labor shortage for years. Although there are various ways to tackle the challenge, one approach to keep in mind is expanding your hiring pool to, in part, avail Read More