Knowing instantly what your material costs are, what liabilities you have and when you need to make payments helps protect your cash flow.
Supplier Payment Terms: A Guide for Trade Contractors
There are several ways to finance the procurement of supplies and materials, but supplier payment terms are the most popular among trades contractors.
What Good Construction Project Documents Reveal About Shifting Market Conditions
Good construction project documents can do a lot of work for you.
Bid Deflation: How Untracked Labor and Materials Costs Eat Into Your Profits
By centralizing your construction project data, you can find untracked costs for labor and materials.
Labor Shortage Productivity: How Trade Contractors Get Work Done With Fewer People
What can construction companies do right now to boost their teams’ productivity? Here are four tips.
The Subcontracting Business Life Cycle: 3 Mistakes Young Companies Make
Making the right decisions early helps prepare a subcontracting business for growth. Making the wrong decisions can set a low ceiling for that growth.
The Subcontracting Business Life Cycle: Keys to Construction Company Longevity
In April, we wrote that construction companies founded today have significantly lower fail rates than they used to. Most construction executives know that this industry sees some of the highest fail rates of any businesses in America. But according to data from the Bureau of Labor Statistics, the five-year success rate for construction businesses is […]
The Future of Construction Is Digital: How Our Industry Will Upskill Workers
Here is what upskilling America’s construction workforce could look like, and how companies and trade organizations can deliver the necessary training.
Recession-Proof Your Business: 4 Things Trade Contractors Can Do
Recessions mean lean times for business owners and their employees. Here are four things trade contractors can do to recession-proof your business.
What Unorganized Construction Project Data Costs Subcontractors
Unorganized data costs. If you struggle to share project data or spend too much time on unproductive work, you may have a data management issue.
Improve Your Construction Change Order Process in 6 steps
Every construction project has its fair share of changes. Materials are delayed, workers don’t show up, the client changes their mind…things happen. And when they do, you need a change order. These are essential documents—so it’s vital that teams improve change order process. Most contractors need to reevaluate their processes, especially due to continued disruptions […]
How to Create the Perfect HVAC Submittal for Trade Contractors
The quality of a submittal can hamper HVAC contractors’ work. While creating a comprehensive submittal can be intensive work, it is essential for good communication between the contractor team and other teams at the job site. It also serves to detail the equipment and materials required for the project. Let’s talk about the considerations and […]
Project Manager’s Best Construction Warning System
The construction project manager’s job gives new meaning to the term “multitasking” and each person multitasks differently. Effective project management needs to be standardized to effectively keep track of the smallest details while never losing sight of the big picture for a construction company. Construction project management is an in-the-weeds job at the project level […]
Crucial Construction Estimating Mistakes to Avoid
Estimating is one of the most challenging jobs in the construction industry. Accurate estimations can lead to more profitable projects. On the other hand, inaccurate estimating mistakes can result in a substantial amount of money lost. Part of estimating comes down to the nature of construction projects: every construction project is unique. Estimators simply can’t […]
Trending Construction Safety Topics in 2021
Trending Construction Safety Topics in 2021 According to OSHA, more than 20% of all private-industry worker deaths occur in construction, making the construction industry one of the most dangerous professions. In 2020, the pandemic ushered in a new host of health and safety issues and focused on workers’ health and safety. This emphasis will likely […]