Specialize vs Diversify?
Industry experts point out that specialty contractors are taking a big risk: if the market for their specific skillset declines, they are without alternative revenue streams. Strategic diversification through services that complement your primary…
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Lessons Learned: Recession?
Every owner wants expansion and growth, but with economists forecasting that there could be a construction recession on the 6-18 month horizon, it’s best to be on our toes. Many builders were caught off…
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Cementing Your Next Contract?
When portland cement is in short supply, concrete contractors find their project commitments at risk, as pour schedules are disrupted and concrete is rationed. Industry pros suggest now’s the time to try out new…
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Avoid Disputes: Exclusion Clauses
With the costs of labor and materials running high, builders find themselves in disputes over who takes the hit on cost increases. Conflicts between general and subcontractors and owners are running high—even ending in…
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Revenue Management
Milestone billing processes are an important way for contractors to manage invoice and payment cycles, ensuring cash flow. Current disruptions make nimble, milestone billing even more important then ever, though absorbing the revenue recognition…
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Top Ten Causes of Claims
Surprise? For the most part, claims and disputes tend to stem from the rush to move projects forward, although design, licenses and permits might not be finalized. Unfortunately, in the long run, the early…
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Surviving and Thriving!
Just two years before the great recession struck in 2008, Gary Schumal and Ron Plunk had set out to form their own construction company. Despite the challenges, their venture survived and thrived and is…
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Good Hiring Practices
Hiring, especially in construction, is tougher than ever. That’s why industry pros remind us that good preparation is essential. Dedicating time to having your hiring infrastructure at the ready pays off in the long…
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Do You Want Some More?
Money from the Infrastructure Investment and Jobs Act is headed to states. There are a number of resources to help contractors follow the money and compete, and whether you are going after a big…
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