3 Good Exit Strategies for When You Want to Hand Off Your Construction Business

Posted by on Jul 12, 2018 in Blog | 0 comments

Long-running businesses have more value than the services they provide and the equipment or capital they own. Businesses of every size can have a lot of their value tied up in their ownership and their brand. Customers in your area trust your company name and your logo. There’s a lot of goodwill that can pass on to a subsequent owner. So if you think it’s time for you to leave your small business, either to retire or to try new pursuits, don’t just let your business shut down. What are the three best exit strategies for...

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How To Set Effective Business Goals

Posted by on Jun 28, 2018 in Blog | 0 comments

In the business world, the idea of setting goals for success is not revolutionary. Lots of research have been done showing that establishing goals is essential to the success of a company. Most business leaders establish goals for their company when they draft a mission statement. The challenge, however, for these leaders is keeping track of their goals; the 4th Annual Staples Small National Business Survey revealed that 80% of business leaders lose sight of their goals after some time. One way for business leaders to avoid losing track of...

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3 Reasons to Set Up Goals for Every Project and Position

Posted by on Jun 14, 2018 in Blog | 0 comments

Goals drive better performance. Whether there are a series of daily goals or a larger project that is broken up into manageable task-based goals, having that structure provides additional organization, clarity, and motivation. Days working in a construction company can be especially varied, so goal-setting is crucial to measure progress and keep employees motivated. 1. Goals drive innovation. As an owner or a manager, you don’t have perfect insight into every problem in the company. Sometimes the details are visible only to the...

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Maximize Employee Performance With The 70-20-10 Learning Model

Posted by on May 4, 2018 in Blog | 0 comments

Businesses are always looking for the best ways to educate their employees. Whether it’s classroom education, job shadowing, hands-on training, or just letting employees get the experience they need on the job, there are lots of educational methods available. The key has been finding the proper ratio to use these methods in. One answer is to use the 70-20-10 learning model. What The Model Says The 70-20-10 learning model is a fairly simple mechanism. In short, it says that 70 percent of learning will come from completing difficult jobs,...

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6 Simple Tips for Improving Team Performance

Posted by on Apr 26, 2018 in Blog | 0 comments

Looking to build a better team and improve your team’s performance? Use these tips to motivate your employees, maximize their performance, and achieve your goals. Define Your Vision You need to stand for something. Your team should have a clear objective in mind. When they have a purpose and their goals are clear, they will be more motivated to work towards achieving them. Set the Environment Make sure the environment is the right one and is conducive towards success. Keep it cheery, positive, and full of encouragement. Don’t let...

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3 Tips to Pass on Your Family Business and Retire Comfortably

Posted by on Apr 12, 2018 in Blog | 0 comments

Let’s face it. No one wants to work forever. We’re all looking forward to retirement, maybe traveling a little bit, playing golf with our friends or finally taking up that painting hobby that we never got to pursue because of our hectic schedule. But in order to leave your business, you need to be assured that it’s in good hands. And often, because of some reason or the other, you may not have been able to get around to training anyone to handle the day-to-day workings of your business. So here are a few tips to get you...

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How Business Advisors Can Provide Support to Construction Companies

Posted by on Mar 15, 2018 in Blog | 0 comments

One industry that has continued to provide significant profits and cash flow to successful business owners is the construction industry. While the construction industry could be a very profitable industry, it does require a lot of skill and expertise to properly select and price jobs and manage your cash flow. If you are looking to improve your cash flow and accounting practices for your construction business, working with a consultant could be very beneficial as they will provide several valuable services.   Project Pricing and Budget...

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5 Problems Small Businesses Face

Posted by on Mar 2, 2018 in Blog | 0 comments

Running a business is a skill that takes years to acquire. Before that happens, small business owners often run into the same problems. Here are a few things to look out for: Cash flow Finalizing lots of sales must mean that you have sufficient cash at hand, right? Wrong. In fact, this might be the most dangerous assumption small businesses make. Cash flow is entirely different from revenue and profits. You need to keep an eye on your cash levels to make sure accounts are paying their bills. Fatigue It’s common for small businesses to...

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Leadership Challenges with Manager-Machine Structures

Posted by on Feb 15, 2018 in Blog | 0 comments

The business literature is full of discussion on the new management structures, and the hybrid nature of machine-human models for managers. This change is not new, and language such as ‘hybrid’ and ‘manager-machine’ is causing an unfortunate misunderstanding about the nature of the collaboration that has been developing over some years. Managers have been using machine intelligence to make decisions for some time. When discussing machine intelligence, AIs, with all the connotations from science fiction movies of...

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4 Things Every Business Owner Should Know About Cash Flow

Posted by on Feb 1, 2018 in Blog | 0 comments

Cash flow is a misunderstood, yet incredibly important business metric. Here are four things every business owner should know about cash flow to keep their company financially healthy. A cash flow statement tells you if you’re generating or using cash Plain and simple, a cash flow statement tells you if you’re gaining or losing cash. It doesn’t give any insight into sales, debt, future profits, or taxes. It just gives you an idea of how much cash you have and how that figure is trending. Revenue = Cash Flow  At one point or...

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