March 2017
Find your equipment acquisition strategy
The decision to purchase, lease or rent equipment is a challenge that businesses of all sizes must face, and there are several factors that need to be taken into consideration to make the best choice for your business. Business owners need to look at those factors, such as cash flow, taxes and...
Keep a safe & closely monitored fuel supply for efficient equipment operation
Construction sites—whether they are the setting for a new housing development, a rebuilt, four-lane highway or a 100-story skyscraper—are extremely busy places filled with noise, dust and flying dirt. Most often, the producers of that noise, dust and dirt are the pieces of heavy equipment that are...
Linking specialized estimating applications with DOT, field tracking, accounting & ERP systems
Profitability in heavy civil construction begins with the estimate. While many contractors recognize the speed, accuracy and ease-of-use advantages of specialized software for estimating, unifying estimating with adjacent workflows is another important advantage that a strong estimating application...
The importance of customer service when selecting software for your business
Almost everyone has experienced that one call to customer service. Listening to the on-hold music and trying to pass the time until, finally, a customer support representative’s voice comes through on the other end of the line. Then, after trying to explain the problem to several different people,...
Using telematics & analytics to help manage equipment acquisition
Underutilized equipment costs your business money, whether it is sitting on your lot or idling on a jobsite. Not having the right mix of equipment can leave your staff and your project to deal with expensive downtime. How can you determine which pieces you need to buy, rent or sell? This is where...
Unlocking roles & expectations to find a force multiplier
This article is the first in a six-part series about supervisory safety responsibilities, which will discuss leveraging supervisors within your company to build a stronger safety plan. Visit www.constructionbusinessowner.com/supervisory-safety to read more installments from the series. Safety...
Don’t let bad business habits sink future profitability
Many business owners unsuccessfully strive to make more money, but they are afraid to change, hire or delegate. Are you willing to make the strategic moves required to double your company’s net profit over the next 3 years? By implementing new strategies and attacking higher margin opportunities,...
Don't wait for your company to get an IRS letter
Do your business practices expose your construction company to potential IRS penalties? The implications of how you report revenue or account for your labor force can vary from year to year and change when certain financial milestones are achieved. Does your CPA keep you informed of the benefits...
Insights from industry leaders on finding the right resources to get what you want
No construction company can complete a project without access to the right equipment. As your business fluctuates, it is important to monitor your equipment inventory, reallocate when necessary or expand your fleet to keep up with project schedules and potentially gain an edge over the competition...
Recent policy changes & how they may impact your business
In 2015, the United States Department of Labor (DOL) Wage and Hour Division (WHD) alerted Supplemental Unemployment Benefit (SUB) plan providers that credit for employer contributions made on Davis-Bacon Act (DBA) covered contracts must be calculated on an annualized basis. If your company is...
Fatal flaws in your active shooter response plan & how to fix them
Consider the following scenario. Jennifer is your best employee. She has been working for you for 10 years. She has earned 10 outstanding, annual performance reviews. She comes in early, she gets her work done and she never whines. We know little about Jennifer’s personal life because she only...
4 tips to properly transport a crawler excavator or wheel loader
Transporting heavy equipment is no small feat. Since it involves several steps, it is your responsibility to use good, consistent hauling techniques. Proper hauling practices, such as using the right size of transport and towing vehicles and correctly loading, positioning and securing equipment,...
What the Trump presidency could mean for labor & employment
With the election of Donald J. Trump as the 45th president of the United States, the business community can almost certainly look forward to a new era. Although many of Trump’s policies on labor and employment-related laws and regulations have yet to be fully developed, there are many Obama-era...
What is your advice for hiring a leader from within the company?
S. Danelle McNeill President MCO Management Solutions It goes without saying that there is a higher level of familiarity within an internal environment as far as current employees are concerned. Hiring from within also decreases the learning curve of industry familiarity and the corporate...
How EPA Tier 4 mandates are driving up equipment prices
Whether you are buying new or used equipment, you are likely to pay more today for machinery than you did in the recent past. The newest Environmental Protection Agency (EPA) Tier 4 mandate is driving up the cost of new machines and making it more of a challenge to find quality used equipment....
Course corrections to get your company's mission back on track
It is easy to look at the next-door neighbors and think, “Boy, they have it going on!” Keeping up with the Joneses is a common practice, and it leads to so many insecurities, which we all seem to possess. We know the grass isn’t always greener on the other side, and it is our own psyche that plants...