Construction Business Management What Every Construction Contractor, Builder and Subcontractor Needs to Know

ISBN-10: 0876298250
ISBN-13: 9780876298251
Edition: 2006
List price: $65.00
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Description: Only 43% of construction firms remain in business after four years. Help your company not only survive, but thrive-with guidance from a pro with 25 years' experience as a successful commercial general contractor. Find out what it takes to build all  More...

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Book details

List price: $65.00
Copyright year: 2006
Publisher: R. S. Means Company, Incorporated
Publication date: 10/6/2006
Binding: Paperback
Pages: 202
Size: 7.50" wide x 9.50" long x 1.00" tall
Weight: 1.892
Language: English

Only 43% of construction firms remain in business after four years. Help your company not only survive, but thrive-with guidance from a pro with 25 years' experience as a successful commercial general contractor. Find out what it takes to build all aspects of a business that's profitable, enjoyable, and enduring.

Preface: What you can learn from this book
Do you have what it takes?
Essential traits
Stress tolerance
Reliability (follow-through)
Willingness to work while others play
Unyielding positive attitude
Mental toughness
Attention to detail
Sense of urgency
Thirst for knowledge
Ability to get along with others
Your role as owner of your construction firm
Leadership (Setting the course)
Vision to reality: The required path
Leaders and managers are different from each other
Tame the ego
Leadership in times of uncertainty
Manager vs owner/shareholder
The entrepreneur mindset
Managing risk
Establishing your corporate culture
Striving for excellence
Hiring the right people
Knowing your industry
Coordinating resources
Keeping in touch
Being there
Identifying objectives
Measuring results
Little habits with big payoffs
Getting involved
Sales, marketing and business development
Marketing materials
Proposals and presentations
Staying ahead of the pack
New customers vs old
Reaching out
Data mining
Creating customer loyalty
Business considerations
The corporation
Capital equipment
Dealing with the IRS
Contractor failure
Controlling your finances
Working capital
Projecting cash needs
Understanding financial statements
Dishonest employees
Where is the money?
Qualifying to bid
Approach to bidding
Cost databank
Pre-bid site inspection
Warranty considerations
Compiling your bid proposal
Reverse bidding/auction
Building it
Registration and licensing
Environmental studies
Subcontracting the work
Pre-construction meetings
Before you start a project
Project overhead/general conditions expense
Managing project overhead/general conditions cost
Mechanic's liens
Lien waivers
Closing out the project
Accounting and record keeping
Certified public accountant
Audited financial statements
Cash vs accrual accounting procedures
Percentage of completion vs completed contract reporting
Percentage of completion method
Completed contract method
General and administrative expense
Fixed vs controllable G&A expense
Cost accounting
Financial statements
The income statement
The balance sheet
State sales tax
Contract terms and conditions
Types of agreement
Requirements for a binding agreement
A few generalizations about contracts
Know the project owner
Getting paid
Commencement/completion dates
Owner delay
Contractor delay
Changes in the work
Constructive change
Differing conditions (Changed conditions)
What to do upon discovering differing conditions
Warranty obligations
Limitation of liability
Governing law
Dispute resolution
Contract termination by the owner
You and your employees
Who are the "right" people?
Hiring the "right" people
Good hiring practices
The interview
New employee orientation
Non-compete non-disclose agreement
Managing employees for the long term
Employee's return on investment
Employee incentive plans
Benefits packages
Work/life balance
Work fulfillment
Job security
Internal conflict
Openness and communication
Responsibility vs job description
Evaluating employee performance
Employee termination
Conducting the termination meeting
Employee handbook
Professional employer organizations
You and your subcontractors
Independent contractor or employee?
Subcontractor qualification checklist
The contractor-subcontractor agreement: Special considerations
Pass-through or flow-down clause
Scope of work
Work as directed
Changes to the subcontract
Conditions for payment to subcontractor
Delay damages
Calculation of payment amount
Terms for final payment
Termination for convenience
Subcontractor default
Notice of default
Contractor alternatives
Continuation of performance
Dispute resolution
Termination of subcontract
Banking and finance
Your business plan
Sources of financing
Borrowing criteria
Managing credit
Insurance and bonds
Worker's compensation insurance
Employer's liability insurance
All-risk builder's risk insurance
Commercial general liability insurance
When a loss occurs
Insurance administration
Certificates of insurance
Waiver of subrogation
Construction surety bonds
Specializing in chain store construction
Improved profit potential
Continuing relationships
Chain operators favor niche contractors
Fewer parties in the mix
Reliable cost database
Reduced risk
So why are so many contractors missing out on the chain store niche?
A note about the construction industry as a whole
If you're just getting started...
Useful Web site links
Regional cross reference of construction-related organizations
Potential questions for interviewing job applicants

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