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Built Environment
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Business of Construction
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Facility Management
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Organizational Change Management
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Partnering, Planning, Project Management
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Procurement
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Project Delivery
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Weekly Construction Messages
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No/Go Without CFO
Sep 26, 2024 | Built Environment, Business of Construction, Financial Management and Risk, Uncategorized, Weekly Construction Message
I have often said that the first sign that a young contractor is developing business acumen is when they hire their first CFO. If you're operating any size construction business larger than $5 million annual turnover you must have a professional CFO. Period. No...
Cash is King
Aug 2, 2024 | Business, Strategic & Project Planning, Business, Strategic and Project Planning, Financial Management and Risk, Financial Management and Risk, Growth, Weekly Construction Message
The definition of "working capital" in a contracting firm differs slightly from the classic accounting definition for other industrial concerns. Since contracting is not a "cash and carry" business where the product is paid for in advance or when purchased, we are in...
Inadequate Working Capital
Jul 25, 2024 | Business, Strategic and Project Planning, Financial Management and Risk, Financial Management and Risk, Labor & Labor Issues, Leadership, Weekly Construction Message
During a recent interview I was asked what percent of the failed construction firms that I worked with for boding companies had simply run out of money. My answer was, 100%. What's more, they were all surprised that they ran out of funds. These contractors were not...
Step-by-Step Cash Flow Management
Jul 18, 2024 | Business of Construction, Cash Flow (Getting Paid), Financial Management and Risk, Weekly Construction Message
Managing cash flow in the construction business is a complex task that takes professional financial skills, flexibility, and constant focus. The elements of cash flow are all variables that could go for you or against you at any given moment. Let's look at the...
Managing Cash Flow
Jul 12, 2024 | Cash Flow (Getting Paid), Financial Management and Risk, Financial Management and Risk, Financial Management and Risk, Uncategorized
Managing Cash Flow Thomas C Schleifer, Ph.D. Few construction companies sell stock to the public to raise growth capital. Construction companies rely on the contractor's invested capital, retained earnings, and various forms of borrowing to finance the front money...
The Second and Final Ingredient
Jul 4, 2024 | Built Environment, Business of Construction, Financial Management and Risk, Financial Management and Risk, Weekly Construction Message
There are only two ingredients required to cook up a successful construction company: 1) Personnel and 2) Capital. When these two profit making assets are combined in the right proportions, construction companies thrive. In this series of messages, we have covered...
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