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    Contractor Tactics On How To Avoid Payment Problems

    Posted by Randal DeHart on Fri, May 24, 2019

    Construction companies need short-term liquid working capital such as cash, lines of credits, loans, owner financing, credit cards, supplier accounts, and other forms of money to conduct daily operations. Small construction companies with annual sales volume less than $10,000,000 and other requirements enjoy some benefits that are not always available to larger firms. Likewise, larger firms can leverage economies of scale.

    The larger your construction business grows, the more likely you could end up operating as a bank without the hundreds of ways to generate revenues from fee income and interest calculation that banks use. The most popular method designed by investors and developers and shrewd business people who understand the concept of divide and conquer is for contractors to get little or no down payment for a construction project, do all the work, including change orders and then try to collect their money.

    What often happens is that contractors hate paperwork preferring to keep everything in their head. Then when it comes the time to collect their money, they find themselves having to re-sell the job and talk their customer into parting with their money. It's been said: "The value of services rapidly diminish after the services have been performed," which is why highly profitable companies like McDonald's gets your money before they deliver your meal. Compare the success and profitability of a McDonald's franchise to most restaurants.

     

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    Topics: Construction Cash Flow, Increase Profits, Increase Cash Flow, Contractor Sucess, Contractor Tips, Contractor Operating Tips

    Four Key Words To Increasing Your Contracting Cash Flow And Profits

    Posted by Randal DeHart on Fri, May 06, 2016

    The Four Most Important Words Your Construction Clients Say:

    • "While it's open anyway...." (the walls, floors, ceiling)
    • "Since we're this far..." (in the project, remodel, new house)
    • "I have an idea..." (for more work to be done, change something)
    • "Now my wife wants..." (more, more and more)

    Highly profitable and very successful Contractors like you respond with...

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    Topics: Construction Profits, Construction Strategy, Increase Cash Flow

    Uniquely Profitable Contractors Use Single Source Suppliers

    Posted by Randal DeHart on Fri, Sep 04, 2015


    Contractors Who Are Hard-Ball Negotiators Can Skip This Article

    Fair Minded Contractors Who Want Extreme Wealth Keep Reading!

    Relationships can make you or break you; financially, professionally and personally. Stephen R. Covey has written and spoken extensively on this subject and most notably in his book The 7 Habits Of Highly Effective People.

    The idea is when you first meet someone you automatically credit that person with a small amount of emotional trust and they do the same for you. In due time you both make deposits and withdrawals into and out of each other's emotional bank account. The key is to make far and away many more deposits than withdrawals and keep the withdrawals to a minimum.

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    Topics: Increase Profits Now, Increase Cash Flow, Relationships

    Three Unique Marginal Costs Grow Construction Profitability

    Posted by Randal DeHart on Fri, Sep 12, 2014

    Three Simple Yet Powerful Action Steps You

    Can Take To Amplify Success In Your

    Construction Company

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    Topics: Increase Profits, Increase Cash Flow

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