Tag: business advice: Page 2

Business

Too much of a good thing? Three steps for managing your construction company’s growth

It’s the time of year when Equipment World editors start scouring Contractor of the Year nominations, looking for the best of the best. Some traits are easy to pick out as the signs of a contender: low turnover, good revenue growth, excellent equipment management, a sterling safety record. While others don’t quite jump out at you, […]

September 3, 2013

Business

Three reasons every contractor should have taken a summer vacation

In Alabama, we’ve just had our tax-free weekend for parents to buy all the back-to-school stuff their kids need. Every year, it’s the signal the summer is, for all practical purposes, over. So, where did you take your vacation this year? Did you even take one? If you didn’t, you should have. If you can, […]

August 5, 2013

Business

How I almost got thrown off a boat: The importance of marketing to a construction business

True confession time. About 30 years ago, in between journalistic gigs, I worked for a construction management firm. My tenure was short, all of 10 months. My boss was not your typical construction guy. He came from the aerospace industry, and settled on CM as a well-paying opportunity. He built schools. Or rather, the contractors […]

August 1, 2013

Business

Ask for Input: Building success in the construction industry with 6 management actions (PART 3)

In my second post on this subject, I mentioned a circumstance that made me realize I needed to ask for input from my team prior to making decisions. Here’s another example of how getting input before decision making helped to set the company on the right course. Action No. 4: Ask for input prior to […]

July 26, 2013

Business

Listening and respect: Building success in the construction industry with 6 management actions (PART 2)

In my first post in this series, I talked about the importance of providing positive reinforcement. Following are the next two management actions to take if you want to build success in the construction industry. Action No. 2: Ask what questions, problems and concerns people have and ask how you can help I believe this is […]

July 19, 2013

Business

Want your construction business to be more successful? Diversify your personnel.

In interviewing contractors across the country for our Contractor of the Year program, Equipment World editors get a pretty good sense of what works—and what doesn’t—across a range of business practices. Because turnover in the construction industry is such a problem, I’m always interested to see what strategies contractors use to recruit and retain. However, […]

June 28, 2013

Business

How did Stalco Construction triple its project volume during the recession? Adaptability and marketing.

Kevin Harney started Islandia, New York-based Stalco Construction in 1992 with only $1,700. Fast forward to 2012 and the company made $64 million in revenue and was able to achieve monstrous growth during the recession. Just what kind of growth? Before the 2008 recession, annual project volume at Stalco was $40 million. Now, it’s at […]

June 24, 2013

Business

How to combat negativity in your company with good management

“Our brain is like Velcro to negative experiences and Teflon to positive ones.” – neuropsychologist Rick Hanson Have you ever heard of negativity bias? Unless you’re a psychologist or leadership guru, you probably haven’t. However, even if you’re not familiar with the term, you’re familiar with the effect. Negative bias is the psychological phenomenon in […]

April 3, 2013

Business

Prepare your construction business for tax changes brought on by Fiscal Cliff

Although you’ve certainly heard of the American Taxpayer Relief Act of 2012 – the bill to avert the fiscal cliff passed January 1 – you might not know everything that’s in it, other than the widely-publicized expiration of favorable tax exemption limits and the increase in the payroll tax. So, is there anything buried in […]

March 4, 2013

Business

Time management, new strategies key to success in post-recession construction industry

Lately we’ve been hearing the recession is finally over. Whether you agree or not, some negative lingering effects have already begun. One of the most visible and immediate impacts is the uptick in workloads from the top down. Many construction companies out there are now dealing with smaller staffs, more work and less time. And […]

February 28, 2013