When communication falters, problems arise. For instance, if a client misses a critical deadline for selecting materials like flooring or countertops, or there's confusion about their final choice, it can lead to frustration, project delays, and financial loss. However, by setting clear expectations and using effective tools, managing client selections can be a smooth and even enjoyable aspect of your projects. Getting organized with home builder selections When we surveyed builders and remodelers about their selection management processes, many said they give clients allowances and let them make decisions independently, informing the builder of their [...]

Running, managing, and expanding a construction business can be challenging, especially without the guidance of a seasoned business coach. Even experienced builders and contractors can feel stuck at times. Understanding when to seek a coach, the benefits of this partnership, and how to choose the right one can significantly transform both your professional and personal life. Drawing from our experience with over 3,000 small to mid-size construction companies, we've created a comprehensive yet concise guide to help enhance your business acumen. Why You Might Need a Construction Business Coach 8 Signs It's Time to Consider [...]

You don't need to be an accounting expert to set prices that will support your business’s growth. However, a common mistake in estimating is assuming that markup and margin are interchangeable. This misunderstanding can threaten your profit and mislead your business goals. While both markup and margin can be used to calculate sales prices, knowing their differences is crucial for protecting your bottom line. What is the Difference? Did you know that a 30% markup will only yield a 23% profit margin? The key difference lies in the basic calculations. Markup Markup refers to the [...]