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You Are an Expert
Do not be misled. Construction contractors are not manufacturing structures, or highways, and selling them to ultimate owners one piece at a time. We are selling construction services, much like business consultants are selling information services or law firms are...
Start With Function
The process of building an organization that can execute profitable construction contracts sometimes begins with asking your spouse to answer the phone two days a week. Regardless of how incidental it may feel, every time you hire new personnel you are building your...
No/Go Without CFO
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
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
Discover innovative strategies and insights to transform your procurement processes and drive efficiency in the construction industry.Thomas C Schleifer, Ph.D.During a recent interview I was asked what percent of the failed construction firms that I worked with for...
Step-by-Step Cash Flow Management
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...
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