In today's digital age, online reviews hold immense power and influence over the success of small construction companies. With easy access to social media, Google reviews, and review websites, customers can easily voice their opinions and experiences with your business online. Most people searching for a local construction company - whether they need a plumber, painter, or general contractor, will check their online reviews before deciding. 

 

Positive reviews can help establish credibility, build trust, and attract new customers. Conversely, negative reviews can damage a company's reputation and deter potential customers. Given the importance of online reviews, small construction companies should aim to provide excellent service and encourage satisfied customers to leave positive reviews.

 

As a small business owner, you must understand the importance of online reviews, as they will impact your brand image, sales, and customer loyalty.

 

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Topics: Website Search, Contractor Tips, How To Handle Negative Reviews, Online Feedback Matters

I was taking a moment to reflect on the challenges for the Pilgrims coming to America. They decided to make the journey with no guarantee of success. To build homes, plant crops, and take care of animals. Then, later, everyone chose to move West by wagon train, horse, or on foot. I am grateful for them! I think about my Grandparents and my Great Grandparents. What was life like when they were children? Where did they come from, and how did they get to where they were?

The family's oral history seems so inadequate. My father shared so much, but now it looks like so little. Be glad for the simple things we take for granted:

• Going to the grocery store, deli, or restaurant for dinner
• Living indoors with electricity and indoor plumbing
• Driving a car
• Crossing the water on a bridge or ferry
  

Modern times. I am all for living in the city with the gas station and grocery store just down the street. I appreciate reliable electricity, and tree contractors trim powerlines year-round to help prevent outages. I am grateful for the linemen who repair power lines during a storm so we have electricity.    

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Topics: Thanks To Everyone Involved In Construction, Contractor Tips, Black Friday For Construction Contractors, Value of Construction Contractors

If you have been lucky enough to encounter generous people, you understand they have a unique gift for garnering the respect and admiration of individuals around them. When you are a leader, having a positive relationship with the people who follow you is a huge asset you cannot put a price on. 

 

In the construction business, generosity and helpfulness are two fundamental traits that can make a business successful. When contractors are willing to share their knowledge and expertise with others, it creates a sense of community and fosters growth and success for everyone involved. Additionally, when contractors are generous with their time, resources, and even their finances, it can significantly impact the success of other businesses and individuals. 

 

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Topics: Leadership Styles, Construction Project Managers, Contractor Tips, Project Management, Project Management For Construction

Finding some certainty can make all the difference in the unpredictable construction business world. While the future remains a mystery, budgeting and cash flow forecasting tools can significantly reduce uncertainty, allowing you to anticipate challenges, learn from past events, and enhance your ability to navigate your business.

Budget vs. Cash Flow: The Crucial Distinction

A common misconception is that a budget and cash flow are interchangeable. A budget is a projection of future possibilities, enabling you to consider various sales and expense scenarios. On the other hand, a cash flow provides a record of actual expenses and sales revenue that flow into and out of your business each month. Although they often deal with the same data, their applications differ.

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Topics: Cash Flow, Construction Accountant Who Listens, Construction Company Cash Flow, Contractor Tips, Construction Business Budget, Budget Vs. Cash Flow

The ability to network is a fundamental part of running a business. Running a business in isolation is difficult, so it helps to have expert partners and acquaintances available to share ideas with.

 

If you're looking to network with construction industry professionals, there are several ways to do so.

 

1. Attend industry events: Look for construction industry conferences, expos, and trade shows in your area. These events often have networking opportunities, such as meet-and-greets or after-hours social events.

 

Conferences are a way to actually meet in person, so the results can be hard to beat. Most conferences have time set aside for networking, allowing you to meet everyone in your niche. More work might involve getting to a conference, but the networking opportunities alone are often worth it. Best results can often be gained by creating a good impression in person, followed by an online contact.

 

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Topics: Leveling Up, Networking, Construction Accountant Who Listens, Contractor Tips, small business connections

Ever dreamed of starting a family business? Investing in a franchise opportunity with friends?

 

Businesses owned and operated by families can have incredible staying power. All family-owned companies, Volkswagen, Samsung, and Nike, are among the world's most successful, leading brands.

 

Working with family and friends can be fun and rewarding, especially in the construction industry. I know because we've been in one. But before you hire the people you care about most, it's wise to consider the pros and cons.

 

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Topics: Hiring Employees, contractor divorce, Construction Contractor's Family, Do What You Do Best And Outsource The Rest, Contractor Tips

If your customers owe you money, the faster you can obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your construction company's cash flow.

It can be easy to neglect to manage your debtors when you're busy growing your business, but intelligent credit control is important. So it's crucial to have the skills to handle the people who owe you money well, especially if you want to avoid taking them to court.

When negotiating contracts with clients, try to set payment terms that help your cash flow, such as deposits or progress payments. Dealing regular payments for contracts that take months to complete has two purposes: it gives you cash flow to match your expenses and protects you from total loss on a project if the customer goes into liquidation.

 

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Topics: Invoicing, High Profit Repeat Construction Clients, Contractor Tips, How To Charge Clients, Get Paid On Time

Marketing covers everything you do in your business that creates awareness, including advertising, brochures, competitions, trade shows, demonstrations, travel, direct mail, email campaigns, your website, and sponsorship. Let's narrow our focus to an integral part of Marketing - Advertising.

Advertising is a massive industry with multiple mediums for your message to be heard or lost in translation. It might sound like a no-brainer, but before you start planning your advertising, you must consider what you are trying to achieve from your investment. Your ultimate objective likely is to build sales, but other things to consider are increasing market presence and building your brand.

 

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Topics: Hiring Employees, Hiring Guide For In-House Construction Bookkeepers, Do What You Do Best And Outsource The Rest, Contractor Tips, Construction Employee

Getting your construction business up and running and making a profit is usually much more complicated than it sounds. So let's focus on honing the skills you'll need to make it happen by acquiring these yourself or consulting professionals to help you.

What it means to be your own boss

Being your own boss might sound like it is the ultimate ticket to freedom and financial success – and it can be. But don't be fooled into thinking you'll be able to put in a few hours each morning and spend the afternoons networking over a round of golf. The reality is that most businesses require much hard work – more than your standard 9–5 job and over some years – before they start to make a reasonable profit, and many new construction businesses fold before they reach that point.

 

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Topics: Success In Owning A Construction Business, Contractor Tips, Building a Construction Business, Construction Employee

As a business owner, you know the right people are crucial to your construction company's success. The best employees can help you achieve your business goals, improve productivity, and drive growth. But finding the people best suited to your team can be daunting, and sometimes it's easy to hire someone who seems okay rather than taking the time to find the best fit. 

Here are some steps to find and hire staff that support your business growth, whether in the office or the field.

Step 1: Define the job and necessary qualifications

The first step in finding the right talent is accurately defining the job description and qualifications. Is this a new position you're hiring for? Are there gaps in employee skills that need to be met? Is this a position that requires specific knowledge and experience? 

 

Remember that there's a difference between "must-have" qualifications and "nice to have" considerations. When setting out "must have" qualifications, include only those that are necessary to the person successfully performing the role. 

Remember also that the job salary should match the role and the qualifications. You can't expect to hire someone with ten years of experience by only offering an entry-level wage. 

 

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Topics: Hiring Employees, Hiring Guide For In-House Construction Bookkeepers, Do What You Do Best And Outsource The Rest, Contractor Tips, Construction Employee