Profit Matters: Page 58

Coaching & Consulting

Get Higher Margins by Changing Business Strategy and Mindset

Construction Business Coaching

Trying to win enough volume to keep busy with low margin, high competition work will keep you poor and stop you from having enough positive cash-flow to grow your company

The average construction business owner is satisfied only making between 2% and 4% pre-tax net profit. You don't have to settle for low margins.

Equipment Management

How to Establish Innovation R&D in a Construction Company

Trade innovation intimidation for enthusiasm with a well thought out technology research, testing and implementation effort.

Telematics is one innovation more construction companies are pursuing, often under the leadership of the equipment manager. Pictured is Komatsu’s new WA900-8 Wheel Loader equipped with the company’s Komtrax Plus telematics system that provides immediate remote diagnostics of machine health and performance.

Construction News Tracker

[NEWS TRACKER] Spike in Building Costs Could Be Problematic for Home Building's Future

New home sales rose in August, but an increase in home building costs could be a problem going forward; plus more construction industry news on the October 10, 2019, edition of Construction News Tracker.

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Machine Grade Control, GPS, Laser & Other

The Contractor's Best Friend Podcast Season 3 Episode 4 - Site Mapping Strategies

Understand the scope of the job, and plan site maps accordingly

S3E4

Are Liquidated Damages Always Enforceable?

Liquidated damages can often be defeated if it can be shown that the contractor was not the sole cause of the delay

Gavel And Money

Calculate How to Cover Construction Business Costs to Get to Profits

GB Financial Services, LLC

Know what you need to cover and control fixed costs for your construction business in order to start making money more quickly.

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Financing, Insurance & Leasing

Falling Energy Prices Push Construction Input Prices Down

Associated Builders and Contractors Inc. (ABC)

A drop in construction input prices is positive for contractors who are struggling to fill skilled worker positions amidst increasing materials costs

Construction input prices fell 0.6% in September and are down 1.7% year-over-year.

Machine Grade Control, GPS, Laser & Other

3D Modeling Improves Accuracy and Efficiency on Award-Winning Construction Project

Tekla software is helping BDS Vircon avoid issues with rebar fabrication while also creating a microcosm of an asset from design to ownership

A 3D model of showing Slab-on-Grade on The Fifth Parking Garage project in Des Moines, Iowa. BDS Vircon is using Trimble's Tekla Building Information Modeling system to build the structure, and the contractor has been awarded a Tekla Building Information Modeling (BIM) award in the cast-in-place category.

Strengthening Contractor and Owner Relationships Improves Success in Multi-Site Construction Programs

New report explores critical success factors for multi-site construction projects from the perspectives of owners and contractors and the need for stronger relationships between the two

A new report shows 'established relationships between contractors and owners built on trust and performance produce better results in overall cost and schedule,' on multi-site projects.

Decline in Private Segment Drives Total Nonresidential Construction Spending Down

Associated Builders and Contractors Inc. (ABC)

Declines in private construction in August 2019 pushed nonresidential spending down nearly 3% from its peak in April 2019

Nonresidential construction spending has continued a monthly decline in 2019.

Construction Technology

5G Will Advance Automation in Construction Applications

The next generation of cellular networks will provide greater reliability and speed necessary for connected and autonomous vehicles.

Expanding development and availability of 5G terminals for industrial applications will enable heavy-duty applications to take full advantage of the technology once it's rolled out more widely across the globe.

Business Services

Slow Payments Cost the Construction Industry $64B in 2019

When you get paid can have a huge financial impact on your company, and a 2019 report shows just how much late payments cost contractors

A company whose customers take 90 days to pay typically need six times more cash to float the project/job costs than a company whose customers paid their bills in 30 days.

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