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7 episodes with master builders association
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2 episodes with master builders association
2 episodes with master builders association
3 episodes with master builders association
2 episodes with master builders association
2 episodes with master builders association
Josh Dunn is the Founder and CEO of Premier Media Group, a full media company with print, digital, social, and live event marketing. Since its inception in 2001, Premier Media Group has grown to include several publications, including 425 Magazine, 425 Business, South Sound Magazine, South Sound Business, and Northwest Travel & Life. Josh has been recognized for his volunteer work, including being named Community Volunteer of the Year by the Master Builders Association of Pierce County. He also founded TEDxTacoma and has been involved in various nonprofit initiatives. In this episode… The future of local journalism often seems bleak in a world dominated by digital media and shrinking attention spans. But what does it take to not only keep a regional media company alive, but make it thrive? How can a small publication evolve in a landscape ruled by AI, social media, and global platforms? Josh Dunn, an entrepreneur with nearly 25 years of experience in regional media, answers this question with vision and heart. Josh shares how he built Premier Media Group into a thriving organization by focusing on community-centered content, intentional acquisitions, and non-polarizing storytelling. Despite obstacles like 9/11 and COVID-19, his optimism and strategic acquisitions have enabled his company to expand into business and travel publications. His approach involves offering human-generated, non-polarizing content and forming partnerships with larger media outlets to enhance distribution. Tune in to this episode of the Smart Business Revolution Podcast as John Corcoran interviews Josh Dunn, Founder and CEO of Premier Media Group, about thriving as a regional media entrepreneur. Josh discusses scaling through strategic acquisitions, the impact of strong company culture, and his take on AI in journalism. He also shares insights on events, social media partnerships, and mentoring freelance journalists in today's changing media landscape.
Jane Langof is an internationally accredited, multi-award-winning Feng Shui Master, Speaker and Founder of Feng Shui Concepts. Renowned for her expertise in blending traditional Feng Shui principles with modern design, Jane transforms homes, workplaces, and community spaces into environments that elevate energy flow, well-being, and success—enhancing the appeal and value of a property in the process. Since establishing her practice in 2008, Jane has specialised in consultations for new builds, renovations, and refurbishments, working across residential, commercial, and hospitality projects. Her work has been recognised by leading institutions, including the Design Institute of Australia and the Master Builders Association, for her ability to harmonise aesthetics with energy dynamics, creating beautiful and functional spaces. Jane is the author of the award-winning book Feng Shui: A Homeowner's Guide to Abundance, a practical guide that demystifies Feng Shui for modern living. She is also a sought-after speaker at design, lifestyle, and wellness events, sharing insights on how Feng Shui can inspire abundance and positive energy in any setting. In her downtime, Jane enjoys playing netball with her daughters and discovering new ways to bring Feng Shui into everyday life. Hosted on Acast. See acast.com/privacy for more information.
Brian Seidler from the Master Builders Association has confirmed they'll be calling for all state and territory branches to be under an administrator after an application to the federal court left off the ACT and Western Australia.See omnystudio.com/listener for privacy information.
The government has set massive construction targets in an attempt to fix the housing crisis. But the Master Builders Association say ballooning construction costs could make the goal to build hundreds of thousands of new homes difficult to achieve. Ryan Tierney is a tradie, and one of the creators of C-Paid - a business focused on helping construction workers get paid. You can check out C-Paid here Listen to John Stanley live from 8pm-12am from Monday-Thursday on 2GB/4BCSee omnystudio.com/listener for privacy information.
Denita Wawn joined Jacqui Felgate. See omnystudio.com/listener for privacy information.
There are renewed calls for more women to join the construction sector, to help address Australia's housing crisis. A national skills shortage is creating long delays and adding to the cost of building a new home, according to the Master Builders Association. - По данным Ассоциации строителей, нехватка квалифицированных кадров в стране приводит к длительным задержкам и увеличению стоимости строительства. Звучат призывы к тому, чтобы нанимать больше женщин на позиции в строительном секторе, чтобы помочь решить жилищный кризис в Австралии.
There are renewed calls for more women to join the construction sector, to help address Australia's housing crisis. A national skills shortage is creating long delays and adding to the cost of building a new home, according to the Master Builders Association.
Welcome to episode 18 of The Plumbify Podcast. In this episode we chat with Will Frogley the CEO of The Master Builders Association of South Australia. You'll be hard pressed to meet a person with more passion for the building industry than Will. Will has already made some huge moves since becoming CEO of The Master Builders SA, including the creation and roll-out of the "Born To Build" program and the RISE Mental Health program. We hope you enjoy this podcast. Thanks for listening!
Description: Pathway is a full-service home remodeling company that uses building materials that improve the occupant's health while contributing to the creation of highly functional living spaces. We leverage smart design and wellness-conscious practices to build your healthy home. Our passion for Universal Design principles ensures that we are creating homes that are more than just beautiful: they're also designed to be functional, comfortable, and safe for the families who live in them. Guest: Paul Kocharhook (pronounced Coke er hook) Bio: Over more than 25 years in the construction business, Paul has served in roles from laborer to owner; his longtime commitment to eco-friendly and healthy building practices has distinguished Pathway within the industry. As a Certified Aging-in-Place Specialist (CAPS), Paul is passionate about serving the increasing population of Seattle-area residents who want to remain in their homes for as long as possible. He is also a Master Certified Green Professional (MCGP), Certified Graduate Remodeler (CGR), earned a Healthy Homes for Building Professionals Certification, and is currently working toward PHIUS certification so he can start working on Passive Buildings—ongoing education is something the entire Pathway team believes in deeply. Paul is a regular speaker at conferences across the country, active with the Master Builders Association, and an American Lung Association Master Home Environmentalist (MHE) volunteer. He and his wife, Tracy, enjoy an active family life with two children and their many extracurricular activities—including soccer, basketball, gymnastics, art projects, and more. Homes featured in this program: https://www.remodeltour.com/past; homes/2022/functional-farmhouse; https://www.remodeltour.com/past-homes/2022/inside-and-out; https://www.remodeltour.com/past-homes/2018/pathwaydc; https://www.remodeltour.com/past-homes/2021/pathway You can learn more about Paul's work at his website; https://pathwaydc.com/; by email; info@pathwaydc.com or by phone at 206-937-4809.
Join Craig as he discusses with Lance and Malia: Lance, can you talk to our listeners about The Master Builders Association of Western Pennsylvania? Malia, what made you choose Architecture to major in at Hampton University? Malia, I understand you attended Taylor Allderdice High School here in Pittsburgh. How did you prepare for this journey you are on while in high school? Additionally, make sure you listen to our Community Calendar (brought to you by Pittsburgh Regional Transit, PRT) with Debbie Norrell at the end of each of our interviews so you can keep up with what's going on in our Pittsburgh region. Soul Pitt Media's Health & Business Report is sponsored by UPMC, Pittsburgh Regional Transit (PRT), Duquesne Light Co., ThermoFisher Scientific, Pennsylvania's Children's Health Insurance Program (CHIP), and PA Unites Against COVID.
This Chief's Chat episode, features Ryan and David discussing the upcoming New Zealand election and the Master Builders' efforts to work with political parties to address issues affecting the construction industry. The conversation focuses on key themes such as the boom-bust cycle, workforce capability, productivity, and climate change. The Master Builders Association is seeking consistency over time in government policies to address these issues. The conversation also touches on the ongoing challenges with the Resource Management Act (RMA) and the consenting process. The upcoming Constructive event in Auckland will provide a platform for discussing these issues and bringing together experts and members of the industry to share ideas and experiences.Where else you can find usWebsite: https://www.masterbuilder.org.nz/Elevate Platform: http://elevate.masterbuilder.org.nzInstagram: https://www.instagram.com/masterbuildernz/Facebook: https://www.facebook.com/registeredmasterbuildersYouTube: https://www.youtube.com/channel/UCmh_9vl0pFf0zSB6N7RrVegTwitter: https://twitter.com/MasterBuilderNZ
Construction safety is an ongoing conversation. This podcast replay with Bob McCall, safety director for the MBA shares insight into job site safety and how safety is compromised when we aren't focused on the root cause which is often stress and mental health and wellness.On the heels of Construction Safety Week, we thought this podcast was a good refresher for everyone working in the construction industry.Original ContentIn this episode, we had the pleasure of speaking with the Director of Safety, Bob McCall of the Master Builders' Association. McCall is a seasoned professional in safety-related matters and candidly spoke about COVID, mental health, and the need for more programs that help construction workers.McCall shared that COVID placed a greater reliance on safety and the need for companies to plan their work. The pandemic brought personal lives into the workplace. Workers and their families who were affected by the pandemic had a greater level of stress on the job. It's a different level of impairment and one that brought the issue of mental health and awareness of construction workers front and center.McCall shares that it's time to start having real conversations about mental health and share resources for workers in construction.Please listen to this podcast and share it with your family, friends, and coworkers. If you or someone you know needs help, call the National Suicide Prevention Lifeline, at 988.
Welcome back to The Plumbify Podcast! On today's episode we were lucky enough to talk to the new Safety Mnager from Master Builders Association of SA. We got to speak about industry hot topics and how big and small businesses can put safety measures in place to protect the business and all staff. Hope you enjoy! https://linktr.ee/plumbify
Listen in to The Plumbify Podcast Episode 3 with Ryan Palmer and Amanda Hewer from the Master Builders Association Born to Build program.If you are a parent with a school aged kid, a teacher, or a student who is interested in taking up a trade apprenticeship, this one is a must listen.Please enjoy, and don't forget top subscribe and rate the Podcast!
Soul Pitt Media Health & Business Report Episode #48 | Interview with Lance Harrell, Director of Workforce Development / Diversity / Inclusion, Master Builders' Association Join Craig as he discusses with Lance: Lance can you talk to our listeners about the Master Builders Association of Western Pennsylvania? What type of trades are part of your organization? How can someone who is interested in your program get more information? Additionally, make sure you listen to our Community Calendar (brought to you by Pittsburgh Regional Transit, PRT) with Debbie Norrell at the end of each of our interviews so you can keep up with what's going on in our Pittsburgh region. Soul Pitt Media's Health & Business Report is sponsored by UPMC, Pittsburgh Regional Transit (PRT), Duquesne Light Co., ThermoFisher Scientific, Pennsylvania's Children's Health Insurance Program (CHIP), and PA Unites Against COVID.
This week, we sit down with the Executive Director of the Master Builders Association, John Gelavis. After 2.5years of chaos and crunches, exemptions and hold-ups, John reflects on the current state of the WA construction industry, the challenges it faces in living up to its potential, and the path ahead.
Senior editor Mark Beyer covers some of the highlights from his latest corporate finance feature. Plus the latest on John Rubino, Perth Festival, Master Builders Association of WA, and Perth Airport.
Matt Mckenzie and Jordan Murray debate the extent to which local and state governments should be spending public money to attract arts, sports and technology businesses. Plus the latest on Arafura Rare Earths and Master Builders Association of WA.
A group of would-be home owners left out pocked after their builder went bust are planning legal action against the Master Builders Association over guarantees they thought they'd signed and paid for. The families say they completed applications for guarantees through the association that would entitle them to non-completion or lost deposit payouts, but the builder never lodged them with Master Builders. Now a lawyer for the group says Master Builders is refusing to honour the guarantees despite doing so in previous similar case. Iain Stephenson says his clients trusted the Master Build brand, despite their builder - a member of the Association - letting them down.
House construction costs are through the roof. Today's inflation figures revealed it the price of a new build is up 18 percent on the same time last year. That's on top of every day essentials like the cost of petrol up 32 percent over the same period. David Kelly from the Master Builders Association is on the line.
Megan Peacock from the Master Builders Association of Victoria said there was no doubt it was a challenging time.See omnystudio.com/listener for privacy information.
We talk to Michael Hopkins who is the Chief Executive at the Master Builders Association of the ACT about available land in Canberra and why it's a problem. ► Subscribe here to never miss an episode: https://www.podbean.com/user-xyelbri7gupo ► INSTAGRAM: https://www.instagram.com/therealestatepodcast/?hl=en ► Facebook: https://www.facebook.com/profile.php?id=100070592715418 ► Email: myrealestatepodcast@gmail.com IF YOU LIKE THIS PODCAST please head to iTunes and Subscribe, Rate & Review the Real Estate Podcast #sydneyproperty #Melbourneproperty #brisbaneproperty #perthproperty
Warnings from industry leaders that the housing crisis could deepen and property prices could spiral again, if new builds stall.The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries for new housing builds, as lending becomes tougher and banks want fixed-price contracts.Vice-President Johnny Calley told Mike Hosking it's the hardest it's ever been to build housing.“The forces are from all angles, so we can't hide from the fact, it's pretty difficult.”LISTEN ABOVESee omnystudio.com/listener for privacy information.
A construction expert says we're in for turbulent times, with the slowdown in the market for new housing builds igniting fears property prices could begin to spiral.The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries, as lending becomes tougher and banks want fixed-price contracts.AUT's John Tookey told Kate Hawkesby some construction companies won't survive.He says they won't be able to function with the restraints in credit.Tookey says a drop-off in new builds will occur.LISTEN ABOVESee omnystudio.com/listener for privacy information.
Warnings from industry leaders that the housing crisis could deepen and property prices could spiral again, if new builds stall.The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries for new housing builds, as lending becomes tougher and banks want fixed-price contracts.Vice-President Johnny Calley told Mike Hosking it's the hardest it's ever been to build housing.“The forces are from all angles, so we can't hide from the fact, it's pretty difficult.”LISTEN ABOVESee omnystudio.com/listener for privacy information.
A construction expert says we're in for turbulent times, with the slowdown in the market for new housing builds igniting fears property prices could begin to spiral.The Master Builders Association says supply chain issues and rising material costs are behind a drop in sales and inquiries, as lending becomes tougher and banks want fixed-price contracts.AUT's John Tookey told Kate Hawkesby some construction companies won't survive.He says they won't be able to function with the restraints in credit.Tookey says a drop-off in new builds will occur.LISTEN ABOVE
In this episode, we had the pleasure of speaking with the Director of Safety, Bob McCall of the Master Builders' Association. McCall is a seasoned professional in safety-related matters and candidly spoke about COVID, mental health, and the need for more programs that help construction workers.McCall shared that COVID placed a greater reliance on safety and the need for companies to plan their work. The pandemic brought personal lives into the workplace. Workers and their families who were affected by the pandemic had a greater level of stress on the job. It's a different level of impairment and one that brought the issue of mental health and awareness of construction workers front and center.McCall shares that it's time to start having real conversations about mental health and share resources for workers in construction.Please listen to this podcast and share it with your family, friends, and coworkers. If you or someone you know needs help, call the National Suicide Prevention Lifeline, at 800-273-8255.
The Master Builders Association of Victoria has called for calm about the future of Metricon, urging members, clients and the public to "not get caught up in these rumours" about the company's future. See omnystudio.com/listener for privacy information.
Building costs are going up faster than houses with some tradies struggling to get their hands on basic materials and facing unknown freight costs. Part of it is Covid and supply chain uncertainty. That's also been compounded by some operators stockpiling materials to avoid missing out. It also means products need to be ordered 6-12 months before they are due on site. Johnny Calley from Tauranga-based Calley homes is also the vice president of the Master Builders Association. He talks to Lisa Owen.
Join this episode's guests, South Australian Skills Commissioner, Renee Hindmarsh and CEO, Master Builders Association of South Australia, Will Frogley as they talk about the current demand for skilled workers in the building and construction industry and how VET pathways can be a great option to learn the required skills.
On the podcast this week, Debra welcomes Jane Langof to the show. In this episode, Jane shares her story. Jane talks about what Feng Shui is, the benefits and how it can be used in your home and commercial premises for success. EPISODE HIGHLIGHTS Feng Shui is about the relationship you have with your environment and your surroundings. It is the art of designing spaces with the right energy flow and setting up your environment for success. Jane talks about the relationship between Feng Shui wellbeing, psychology, relationships and prosperity. Determining the quality of energy in a home or building involves analysing the precise orientation of the property, the layout, when the property was built and if there have been extensive renovations. Colour and the role it plays in Feng Shui. Engaging a Feng Shui Master during the purchase of a residential or commercial property, during the concept stage of a building project or before starting a renovation. How Feng Shui can be in commercial premises to improve the energy flow for occupants, communication, wealth and property value. The number one thing you can do in your office or workspace is to bring more stillness and clarity into a space. You don't need to decorate your home with Feng Shui objects to have good Feng Shui. Feng Shui done well should be consistent with the principles of great design. Why taking a DIY approach to Feng Shui can have a negative impact. Jane Langof is a Feng Shui Master and the founder of Feng Shui Concepts combining principles of great design with traditional Feng Shui to create positive energy and success. Jane's mission is to create beautiful places that inspire you to achieve your goals. Jane specialises in Feng Shui design projects for residential and commercial projects in Sydney, Australia and internationally. She has a practical approach to Feng Shui and works seamlessly with design professionals and project teams to ensure that your property achieves its full potential. Jane enjoys sharing her knowledge in Feng Shui through media and speaking engagements, participating in conferences and events for international experts in the Feng Shui industry. Jane has appeared on television, radio and provides commentary in newspaper and magazine articles. Jane is a member of professional associations including the International Feng Shui Association and Association of Feng Shui Consultants. Jane is an internationally accredited Feng Shui Master, a member of the Design Institute of Australia and Master Builders Association in Australia. SHOW NOTES Get all episode show notes here https://www.debrashepherd.com.au/debra-shepherd-podcast CONNECT WITH JANE Instagram @fengshuiconcepts Facebook @fengshuiconcepts www.fengshuiconcepts.com.au CONNECT WITH DEBRA Instagram @_debrashepherd www.debrashepherd.com.au Facebook @debra1shepherd Thank you for listening. If you enjoy this episode, I invite you to share a review on Apple Podcasts. Your review will help another woman create more ease, joy and meaning in her life and business.
Steve Price speaks to Rebecca Casson, the CEO of Master Builders Association of Victoria, as construction is set to return in Victoria under strict new rules. See omnystudio.com/listener for privacy information.
Steve Price speaks to Rebecca Casson from Master Builders Association of Victoria after the State Government shut down the industry in Greater Melbourne and other lockdown areas of the state following violent protests over vaccine mandate. See omnystudio.com/listener for privacy information.
The construction industry is pleading with the NSW government to relax its ban on all trade work. See omnystudio.com/listener for privacy information.
Rebecca Casson, Chief Executive of Master Builders Association of Victoria, joined Tom Elliott on Thursday to discuss the project. See omnystudio.com/listener for privacy information.
In this episode of the Master Builders Podcast, host Max Rafferty and co host Robert Shaw talk about the business of building with Jock Merrigan. Jock is the founding Director of Urban Habitats and has over 20 years of experience in the residential building industry. As an active member of the Master Builders Association of South Australia, Jock chairs the Housing Committee, and is a member of the Council of Management. Jock is also the State Representative for the National Residential Housing Committee. Jock is passionate about building design and in achieving quality construction outcomes that are unique to each of his clients. This episode is sponsored by Master Builders Insurance Brokers (MBIB) Master Builders Insurance Brokers (MBIB) is a leading broker in the building and construction industry. They use their national muscle to leverage great ‘value for money' insurance arrangements with preferred underwriters, ultimately keeping premiums down and policy coverage broad. Their brokers help you understand, select and manage the right cover for your business by using their years of experience in the building and construction industry. So if you're a builder and want more than just an insurance broker visit mbib.com.au today. Get in touch with your local Master Builders at masterbuilders.com.au
The Commerce Commission is looking look into Carter Holt Harvey's decision to halt timber supply to some retailers.The commission says it has been monitoring supply issues in a number of sectors and was aware of the situation in the building sector.However it says Carter Holt Harvey had not specifically advised them of its intention to cease supply to some parties.A spokesperson says it's their intention to make some inquires to understand the nature of the issue.It's yet to speak to those involved.Master Builders Association chief executive David Kelly told Heather du Plessis-Allan accusations that the selling of logs to China at a premium cost isn't the main reason for the shortage."There are issues about the upgrade of some mills which has had an impact on productivity."The selling of logs to China may have had a small impact, but it's certainly not the whole story."LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Rebecca Casson, CEO of Master Builders Association of Victoria, spoke with 3AW Drive. See omnystudio.com/listener for privacy information.
The Young Professionals Podcast (TYPP), proudly brought to you by ADAPT Careers (https://adaptcareers.com.au) and co-hosted by Luke Marriott and Nicholas Sargeant (Sarge). In this episode, Luke & Sarge talk to Nicholas Pane, a qualified carpenter working mainly on residential buildings in Melbourne's inner Southeastern suburbs. After finishing school, Nicholas began studying Journalism at Swinburne University, before deferring during his first year. During his deferment, Nicholas took up work for his brother's landscaping business. Soon after, Nicholas enrolled in a pre-apprenticeship course for Carpentry at Holmesglen TAFE (https://holmesglen.edu.au) and worked at Focus Construction. Nicholas then moved on to work for Dick Reynolds, to gain more specialised experience and progress towards completing his apprenticeship. Once qualified, Nicholas completed a Certificate IV in Building and Construction at the Master Builders Association of Victoria (https://www.mbav.com.au), further developing his knowledge in the field and preparing to one day become a registered builder. If you'd like to learn more: Master Builders: https://www.masterbuilders.com.au/Home. Pre-apprenticeship certificate: https://www.skills.vic.gov.au/victorianskillsgateway/Choose/Pages/pre-apprenticeship.aspx. How to become a Builder: https://www.gooduniversitiesguide.com.au/careers-guide/builder. If you have a career story you would like to share, a role you would like to learn more about or any questions you would like us to ask young professionals, you can reach us through any of our social media that can be found at TYPP.com.au. We would love to hear from you!
Divorced with 5 kids, and launching a startup, Karen Porter thinks that there are a lot easier things to do than run a business. Nine years later her business is worth 7 million plus, and she has a boatload of experience about what works and what doesn't. She has very practical tips on what it takes to work through the tough bits of business.
In this episode of the Build Hatch Podcast, we had the opportunity to hear from Nick Lonsdale from Lonsdale Building Group. In this episode we talk about: Nick grew up in country Thomastown, Victoria. Nick was very social at school, yet in year 10 the principal told him he needed to get a job. Nicks introduction to hard work came from his upbringing. The road that brought Nick to the construction industry. The mentors and motivators Nick had at the start of his career. Nick regularly uses Saturdays to complete site cleans and enjoys the moment of reflection and hard work. Three years into his career Nick started sub-contracting which rolled into starting his own company, Lonsdale Building Group. Finding practical ways to solve problems. Mistakes can bring learnings if you allow yourself to learn from them. Nick's aspirations today compared to when he first started the Lonsdale Building Group. The importance of learning on trusted friends when it comes to making business decisions. Nick won Young Builder of the year 2018. The flow on effect of winning the builders award. Nick was approached to be involved in a TV production, ‘Healthy Homes' to promote Master Builders Association of Victoria. The opportunities of working on a television show and Nicks learnings from this experience. Focusing on long-term goals rather than profit upfront. Nick's tips for working in property development. Finding a niche and paying your tax are the keys to good business growth. Aspirations Nick has for the future of Lonsdale Building Group. Sit back and enjoy this helpful interview with award winning contractor, Nick Lonsdale. Links: Nick Lonsdale Build Hatch Podcast Soundtrack Title: “Ride It Like You Mean It”. Artist Name: Kristian Leo. Written By: Evert Zeevalkink. Published by Soundstripe Productions.
Well, first we had Jobseeker, JobKeeper, and now in the naming tradition of COVID stimulus packages, we now have HomeBuilder. And while the Government’s plans to break the champagne over the bow were slightly interrupted by a need to ‘get off the grass’, the latest economic injection has raised voices on both sides of the political divide.Joining the panel today is Federal Shadow Housing Minister, The Hon. Jason Clare and Master Builders Association of NSW Executive Director Brian Seidler.
David Malone has been on the podcast before (episode 9). As CEO of the Master Builders Association, Dave has been thinking about what a post Covid-19 economic recovery would look like for the Northern Territory and has put together a plan he hopes the Northern Territory Government will consider. We discuss the elements of this plan. --- Send in a voice message: https://anchor.fm/territorystory/message
In this episode, you will learn about;Leadership in a large businessScaling your careerKey leadership lessonsWhat an executive career looks likeImportance of hard workResourceshttps://icon.coShow NotesIf you enjoyed this episode, and you've learnt something or it inspired you in some way, I'd love to hear about it and know your biggest takeaway. Take a screenshot of you listening on your device, and post it to your Instagram Stories, and tag me, @elinormoshe_ or Elinor Moshe on LinkedIn.Don't forget you can also join the free facebook community to discuss your journey in the building industry; https://www.facebook.com/groups/constructingyou/Guest BioMichael Clemenger is a dedicated and results driven construction professional with over 25 years of experience managing all aspects of project delivery and the past nine years with the responsibility of leading a State division.As the Victorian State Director of the New Icon business, Michael has played a leading role in bringing together two very successful businesses with the merge of Icon Co and Cockram Construction in 2018.He enjoys leading a large and very talented team in the Victorian business delivering quality projects on time and on budget for our clients across significantly diverse industry sectors including Health, Residential, Aged Care, Commercial, Education, Sporting, Student Accommodation, Civic, Defence & ICT.The opportunity to work across Australasia and internationally has enabled Michael to sharpen his cross-cultural communication skills and seen him work on large pharmaceutical projects in China and in Puerto Rico along with playing a major part in delivering successful joint venture construction projects in New Zealand.Michael is actively involved in our industry as the Deputy President and board member of the Master Builders Association of Victoria.People are at the forefront of everything Icon do and a collaborative and approachable manner ensures strong relationships with clients, consultants, staff, subcontractors and suppliers. Michael is passionate about leading, training and mentoring staff to allow them to progress and continue to have successful careers at Icon.
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode Number 0330, And It Will Be About Fast And Easy Contractor Networking Profitable contractors attend networking events not because they have nothing better to do; they do it because it pays off. You can either spend hours doing office tasks like bookkeeping or getting face to face with someone who may need your services. Meeting people gives you the chance to build and develop relationships, hire you, or refer you to someone who might. Most of our contractor clients work alone or with a small team, making connections vital and refreshing to meet other professionals doing similar work. Although not every networking event is going to yield a harvest. You might end up learning about all kinds of needs and opportunities about everything under the sun except what you came for - qualified construction leads to support your business. However, this is another path to cultivate and harvest repeatedly. As an example: A home builder learns about a commercial tenant improvement contractor who needs bookkeeping services, and he refers us. While working with the commercial tenant improvement contractor, we find out they need a concrete contractor, so we refer one of our clients. While the concrete contractor is installing a backyard patio for a new client, they happen to mention needing a builder. The concrete contractor asks the commercial tenant improvement contractor to pass the lead on to the home builder, and the circle is complete. How Do You Get Started? Join local trade organizations like Master Builders Association, ABC Contractors, National Association of Home Builders (NAHB) and other organizations that represent your particular target market. We favor Master Builders Association because they cater to our target market. Before joining, develop your strategic objectives, for example: Clearly define your target market - demographics and psychographics. Prepare your elevator pitch - a brief introduction on who you are and what you do or specialize in. Contact information - carry your brand by handing out company cards to potential business contacts. When you join, find ways to serve the organization and the members, participate by: Attending meetings Joining committees Volunteering Becoming a team-player Getting involve in activities Identify Power Connectors and Referral Partners: Architects Designers Realtors Others Power Connectors are the people who know everybody or at least it seems like it because their name comes up in conversations everywhere. Those are the people that you need to get to know, and when they attend an event if at all possible, you need to be there. It will take time to capture their attention and gain their trust. When they know you, like you and trust you, they can have a massive positive influence on your construction business. There is a synergy that develops where everyone knows it is a safe place to share your dreams and ambitions. Sharing ways to expand your construction company, gain more customers, get sound advice about financial management, support for writing articles, or a book or perhaps developing a speaking career. It is excellent because you are among people you admire and respect who will offer a hand-up without forethought of personal gain. To develop a valuable network is simple but not easy. With internet connectivity comes your online connections, as well. You must become highly skilled at identifying and adding the right people to your network and find ways to make more deposits than withdrawals. When someone invites you to join their social media group, check and see if it fits with your core values before accepting. There is a popular phrase - "It is who you know that counts," which I disagree with because we all know a great number of people on varying levels from casual encounters to deep intimate personal relationships. Here Is My Version For Construction Business Owners: It is not what you know It is not who you know It is who knows you - that is what counts. When Power Connectors know you, it's more valuable than silver and gold; they are the core of your network. They are the people who know, like, and trust you. Nurture and build your relationships with them by adding to each other's emotional bank account. They are the people who know you well enough to answer your phone call at three o'clock in the morning. That is what counts. In conclusion Construction is a relationship business, and trust is everything. Networking is not rocket science - it is a lot harder because you are dealing with people. With rockets, if something goes wrong, you learn what not to do the next time. With people when something does not turn out as you expect, it is much more complicated, but with the proper association can work to your advantage. About The Author: Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, and QuickBooks For Contractors Expert. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and Construction Accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more. Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Check out our Contractor Success Map Podcast on iTunes.
In this edition of the Weekly Dose Of Common Sense With Cory Bernardi, Senator Bernardi talks about:The Unprincipled Greens | Bill Shorten and Labor's Politics Of Envy | Company Tax Reform For Multi-Nationals | The Nonsensical Liberal Energy Plan | Grave Concerns About NDIS Sustainability | An Interview With Master Builders' CEO Ian Markos | Mooted Senate Changes | Why Populism Is Not Always Good | A Free Speech Referendum | Safe Nuclear Power
This Earth Day we investigate the success and future of Built Green homes. Leah Missik is the Program Manager of Built Green, a non-profit arm of The Master Builders Association of King and Snohomish County. We also hear from Anthony Maschmedt, the Owner/Principal of Dwell Development, a Seattle builder who recently built a Net Zero energy home in Ballard. Built Green ratings range from 3-Star, 4-Star, 5-Star to Emerald Star; and there are many factors in determining the efficiency of a new home. Along with energy usage there are use of construction materials, water use, and indoor air quality. The Built Green program is advocating to make these types of homes easier and less costly through policy as well as advances in technology. Two years ago Dwell Development built Seattle's first Emerald Star home and with two years of data now available, the results show that it is more efficient than thought. Over the course of each year, the owners of this home actually sell energy back to the grid. Learn more online at www.builtgreen.net or www.mba-ks.com/ and watch an impressive video about the Emerald Star home here www.dwelldevelopment.com/video/ Christian Davenport is a staff writer at the Washington Post where he covers the space and defense industries for the financial desk. So he's had the opportunity to be up close with the recent history of space activities. Christian is also an author whose newest book is: The Space Barons: Elon Musk, Jeff Bezos, and the Quest to Colonize the Cosmos. Christian will be in Seattle at the Museum of Flight (a great Seattle treasure!) on Wednesday April 25 at 6:30 to discuss the book, sign copies, etc. www.museumofflight.org
Buying an affordable home is a serious challenge for people throughout the Puget Sound region. Joining us to discuss the impediments to increasing the housing supply is Nick Harper, Senior Director of Strategy & Policy for the Master Builders Association of King and Snohomish Counties. Here's a statistic from Nick that really highlights the problem: Over the last five years on average, the city of Seattle has grown by 50 people a day, 35 jobs a day, but only 11 living units a day. And that imbalance can be extrapolated to the whole Puget Sound region. You can read our Special Report on the state's Growth Management Act, which covers problems with housing affordability, here: https://researchcouncil.org/files/docs/2016/07/wrc_gma_report_july_6_2016_final_for_web.pdf
David Leitch is the Director of Commercial Operations at the Master Builder's Association of the ACT. He is project manager for the 2016 highly successful Charity House Project that raised over $2 million for local charities with the contribution of over 75 local builders, tradies, suppliers, media partners alongside with a land grant from the ACT Land Development Agency. It's a remarkable story of collaboration for the purpose of Inclusion - including people with all abilities in the community. We explore: The virtuous spiral of 'do good, do well - do well, do more good' in business giving. The extraordinary power of giving and collaboration to make a huge impact How to fill gaps in leadership through others' talents
Minister in the Presidency, Jeff Radebe has condemned the late payment of government service providers, as well as the lack of maintenance of public infrastructure as criminal acts. Radebe updated delegates at the annual congress of the Master Builders Association in Durban on progress with infrastructure projects worth 800-billion rand. These projects are aimed at stimulating economic growth as part of the National Development Plan. Dries Liebenberg reports...
This week Kulja speaks with the CEO of Environment Victoria, Mark Wakeham, about the environment policies of the different political parties.Then historian, Dennis Glover, talks about the recent Brexit vote and the reasons behind it as well as current Australian politicsFinally Dr. Phil Alviano from the Master Builders Association of Victoria comes in to talk about Australian housing and the Master Builders event on small housing
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode Number 0164 And It Will Be About Four Unique Reasons Small Contractors Succeed Financially And Personally Starting And Building A Construction Company Is Brutal Not Just Hard! There are a great number of "Threads Of Success Weaved Into The Fabric Of All Successful High-Profit Construction Contracting Companies" and I am going to share four of them with you. #1 Successful High-Profit Contractors Limit Their Risk Jeff Bezos, Amazon founder and CEO, nailed the subject of risk when he explained that entrepreneurs should not be risk-seeking. They should focus on limiting risk. One of the biggest ways to reduce risk in your Contracting Company is by validating the need for your service. If you are new in business join your local trade associations, for example, Master Builders Association and attend a few meetings and take some classes. Develop your Unique Selling Proposition (U.S.P.) the one thing that you do better than anyone else in your Geographic and Psychographics Target Market. Try selling your contracting services to a potential customer. Going through this process will help you refine your Value Proposition. Develop your systems using M.A.P., not P.A.M. so that you can be prepared for the bumps in the road that can (and will most likely) occur. Always remember the five Ps: Prior Preparation Prevents Poor Performance. Use O.P.M (Other People's Money) by getting job deposits and regular progress payments. Stop borrowing money at 18% and lending it at 0% see https://www.fasteasyaccounting.com/contractor-not-a-banker to learn more about how to be a Contractor not a lender. #2 Successful High-Profit Contractors Have A Prime Client Profile Most Contractors fail because they run out of cash not because they didn't know their trade. If we peel the onion back, it comes down to not understanding who their Prime Client is and how to reach them. This is something successful small Contractors do regularly as clockwork. Do the research and if you have a Construction Accounting Service get them to help you find the top 20% of your clients that generate 80% of your cash flow and profits. This is an ongoing process that takes time, patience and research. It is vital to figuring out how to market your Contracting Company. #3 Successful High-Profit Contractors Are Organized As Alan Lakein said, "Failing to plan is planning to fail." The most successful small Contracting Company Owners are on top of it. They have their team organized, their financial documents organized and they have their priorities organized. There will always be fires to put out because that is the nature of running a Contracting Company. The most successful Contractors work endlessly to stay organized. This ensures the fires aren't a major distraction to their long-term goals. Lastly, the organization has long been a tenet of successful High-Profit Contractors like you. If you’re still unconvinced, look at the word organization. It’s literally right there in the word. You wouldn’t go work for a disorganization, would you? #4 Successful High-Profit Contractors Are Adaptable And Nimble In a fight between a big guy and a little guy, we tend to think of the little guy as being nimble. Small contractors have the same advantage. Medium and large Construction Companies tend to have extremely high long-term fixed costs. This makes them slow to change direction. Whereas, small Contractors have the advantage of being able to change direction quickly. If their product or service isn't selling as well as expected, they can shift their focus. This concept applies to hiring too! A nimble small Contracting Company can pick and choose the best of the best Construction Workers to staff up as and when you need to. We certainly tip our hats to small Construction Company Owners everywhere. Hopefully, "Threads Of Success Weaved Into The Fabric Of All Successful High-Profit Construction Contracting Companies" will provide value to you as you draw on them for your Construction Company and for your clients. Here’s to thriving! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations
Maia Aziz P.S.W., C.L.Y.L., writes and speaks on living a life of love and laughter. President-Elect of The Association for Applied and Therapeutic Humor, Maia is joined each week on Morning Moments With Maia...Conversations of Love and Laughter by an eclectic lineup of guests who live their lives with love and laughter and work to help others do the same. www.withloveandlaughter.ca Sue Z. Hart was born on a small farm in Vail, Washington. At the age of three her family home burnt to the ground. Her family moved into the logging camp, where her father worked. For six years they lived in a two bedroom camp house while her family built a new home, with the help of many family friends. Sue believes the experiences of her childhood played a big part in her belief that we all need to help our neighbors and be actively engage in our community. Passionately involved in her community, Sue served two consecutive terms as President, NAWIC (National Association of Women in Construction) Puget Sound Chapter 60 and remains active on the Board. She is a member of the Master Builders Association of King & Snohomish Counties and serves on many Advisory Boards. She is active in her Church and Community. Sue is the founder of Building Beyond the Walls, an inclusive basic construction training program for those who want to volunteer on construction sites that teaches participants self-awareness and empowerment. Today Sue joins Maia for a conversation about connecting and engaging people to build stronger communities. www.buildingbeyondthewalls.org
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode Number 0092 And It Will Be About Reducing Your Construction Company Start Up Stress We Are QuickBooks Experts Specializing In Construction New Contractor's Have horrendous Levels of Stress Did You Quit Your Job - And start your own construction company only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money? Now that can be stressful!Did You Ask A Friend Or Relative - To loan you some start-up capital and they agreed on condition you become equal partners in your construction company. The idea was you would do all the work they would get half the profits and you politely refused, or not? This is getting very stressfulDid You Go To Your Bank - And they offered to give you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% (more or less) and they can call the loan due if you ever miss a payment and take everything you own?. This is getting extremely stressfulDid You Use Your Personal Credit Cards - And supplier accounts to finance your new business and perhaps you were not careful about what you bought? What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that! But now that you are the boss you don't know where to start NOW THAT'S EXTREMELY PAINFUL STRESS!Are You Spending Time To Set Up - Your construction company properly so that it will save you grief, time, money and pay you dividends in the future? Or are you "Winging It"?Are You Taking Steps To Protect Yourself - With a Subchapter S-Corp (Sub S) to help protect your business and personal assets?Get Organized - We strongly recommend a Subchapter S-Corp for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice.Tax Advantages For LLC or a Sub S - If you do not setup your corporation correctly the profit or loss from your business will be passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; eliminate double taxation.Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague.Construction Bookkeeping Service - That understands construction is best when you start because they can setup QuickBooks correctly in the beginning for your construction company and take care of the accounting until you are ready to take over.Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week.Never Ever Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation.Put Money In And Take Money Out - Of your business is O.K. if it is done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Understand When A Transaction Is Income - And when it is not incomeInsurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs.Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations.Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email sharie@fasteasyaccounting.com.Performance Bonds - If you are doing public sector work, you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds.Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank.Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own construction bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your construction accounting.Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or use a software estimating program like UDA.Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application.Do Not Offer Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. Follow McDonald's restaurant model: Step #1 Customer places order, Step #2 Customer pays, Step #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money.Marketing | Accounting | Production M.A.P. - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your construction company's Strengths, Weaknesses, Opportunities and Threats? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Year Over Year In Any Economy One Thing Never Changes20% Of The Contractors Earn And Keep 80% Of The ProfitsThey Have A Business Process Management StrategyTo Know Where To Focus Their Limited Resources The 80/20 Rule Combined With Business Process ManagementCan Improve Your Life In Ways You Never Dreamed Possible!Fast Easy Accounting The 80 20 Rule For Construction Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well.Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will LearnThe Easy Way OrThe Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect itThe Contract Screwing - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again.That Is Not What Happens This Is What Usually Happens:Poorly defined scopes of work create claims and disputes.The completion schedule is too short and exposes you to monetary damages for failure to finish on time.Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24%The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project.Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence.Indemnity clauses could make you pay the customer's attorney fees and costs.Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits.Oftentimes the term and coverage of the warranty is beyond normal industry standards.Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes.The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project.Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand.Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor. The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion.Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king!Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project. Three types of indemnities: Broad Form: A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence. The 100% indemnity.Intermediate Form: An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence. The 99.9% indemnity.Limited Form: A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE!Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc. Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose.Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful.Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Finally Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Fill out the form on the right or call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
This Podcast Is Episode Number 0083 And It Will Be About Business Round Table - Where Contractors Learn How To Fail! Tonight And Every Night - Including daytimes and weekends, a lot of construction company owners will gather at the Business Round Table. It is the little Round Table at the local bar where the go to teach each other all kinds of ways to run their contracting company. Unfortunately, for the attendees most of the discussion is based on hearsay, conjecture, stories from curbstone lawyers, half-witted bad bookkeepers, construction company owners on the edge of bankruptcy and people that have already run their businesses into the ground and learned nothing. Business Round Table Meetings - Are held at every local tavern, beer garden, lounge, backyard Bar-B-Q, anywhere contractors go to unwind after a tough day in construction. The Contractors Who Attend These - Discussions are for the most part very intelligent, articulate bright men and women who understand the construction trade at a very deep level. Unfortunately, they have been abused and taken advantage of by a lot of suppliers, salespeople, property owners, tax agencies and the worst of all Bad Bookkeepers which has caused them to become jaded and tend not to trust anyone outside their group. It Is Good To Socialize - And spend time with friends and contractors and enjoy life. I would simply suggest you consider carefully where you spend your time and with whom you spend time with because Leveling Up Makes Money. Networking With Successful Contractors - Is even better. We suggest joining and getting active in the Master Builders Association www.FastEasyAccounting.comMBA We Understand This - Because we, Sharie and Randal have spent most of their lives owning and operating construction businesses or serving the construction industry as contractors bookkeeping and accounting specialists. A Tough Day In Construction - Is when you run your construction company without the benefits of a clearly defined, documented and continually updated Business Process Management Strategy. That Nagging Feeling You Have - In the back of your mind that you are missing something important. Well, it is true, you are missing something! A Small Part Of What You Are Missing - Is The 80/20 Rule For Construction Success and as time goes on you will find yourself it's going to get a lot worse as you keep missing out on the more profitable jobs and find yourself scrambling for the crumbs left by the construction companies with a Business Process Management Strategy in place. To learn more about the The 80/20 Rule For Construction Success please visit www.FastEasyAccounting.com/8020 Every Day It Is Getting Worse - Because construction company owners like you are waking up to the realization, they can no longer afford to compete on price alone. They are admitting to themselves that they need a Business Strategy and systematic instructions on what to do, and how to do it. They are coming to terms with the idea they need a mentor like Sharie and Randal to help them transition from Working In Your Business - To Working On Your Business! Don't Take My Word For It - Read what some of our clients have said. Click here to see our Fan Page. We have programs to fit every need and budget and none of them exceeds thirty days, no long-term commitment, we perform or you can go elsewhere. No harm, no foul. Begin With The End In Mind - As Stephen Covey said, and use the list below: to get your mind thinking: 1. Every Contractor’s Company Is Two Years Old; What Happened Three Years Ago Does Not Matter!2. Understand The Demographic And Psychographic Of Your Best Customer or Client!3. What Do Your Best Customers And Clients Want And Are Willing To Pay For It!4. Have Processes And Procedures In Place To Optimize Profits!5. Understand The Thinking Patterns Of Their Project Managers!6. Understand The Thinking Patterns Of Their Construction Workers!7. Understand The Thinking Patterns Of Their Professional Bookkeepers!8. Understand The System Is The Solution! Learn More At http://www.fasteasyaccounting.com/Construction-Psychology/ I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that. But now that you are the boss you don't know where to start NOW THAT'S STRESS! Spending Time To Set Up - Your construction company properly will save you grief, time, money and pay you dividends in the future. In addition you will do a better job protecting your business and personal assets. Get Organized - Pick a company name that says something about what you are doing. We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation. Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague. Bookkeeping Service - That understands construction is best when you start because we can setup QuickBooks correctly in the beginning and take care of the accounting until you are ready to take over. Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. Never Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation. Put Money In And Take Money Out - Of your business is O.K. in done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Insurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs. Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email sharie@fasteasyaccounting.com. Performance Bonds - If you are doing public sector work you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds. Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank. Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your accounting. Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or you can use something like UDA. Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application. No Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. McDonald's restaurant model: #1 Customer places order #2 Customer pays #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money. Marketing Then Sales - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your strengths, weaknesses, opportunities and strengths? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. www.FastEasyAccounting.com/mba Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well. Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn The Easy Way Or The Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect it The Contract Abuse - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24% The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. Indemnity clauses could make you pay the customer's attorney fees and costs. Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits. Oftentimes the term and coverage of the warranty is beyond normal industry standards. Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes. The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project. Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand. Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor. The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion. Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king! Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project. Three types of indemnities: Broad Form: A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence. The 100% indemnity. Intermediate Form: An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence. The 99.9% indemnity. Limited Form: A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE! Other Things To Be Aware Of: Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc. Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful. Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More. This is one more example of how Fast Easy Accounting is helping construction company owners just like you put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that. But now that you are the boss you don't know where to start NOW THAT'S STRESS! Spending Time To Set Up - Your construction company properly will save you grief, time, money and pay you dividends in the future. In addition you will do a better job protecting your business and personal assets. Get Organized - Pick a company name that says something about what you are doing. We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation. Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague. Bookkeeping Service - That understands construction is best when you start because we can setup QuickBooks correctly in the beginning and take care of the accounting until you are ready to take over. Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. Never Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation. Put Money In And Take Money Out - Of your business is O.K. in done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Insurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs. Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email sharie@fasteasyaccounting.com. Performance Bonds - If you are doing public sector work you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds. Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank. Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your accounting. Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or you can use something like UDA. Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application. No Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. McDonald's restaurant model: #1 Customer places order #2 Customer pays #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money. Marketing Then Sales - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your strengths, weaknesses, opportunities and strengths? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. www.FastEasyAccounting.com/mba Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well. Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn The Easy Way Or The Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect it The Contract Abuse - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24% The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. Indemnity clauses could make you pay the customer's attorney fees and costs. Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits. Oftentimes the term and coverage of the warranty is beyond normal industry standards. Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes. The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project. Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand. Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor. The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion. Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king! Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project. Three types of indemnities: Broad Form: A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence. The 100% indemnity. Intermediate Form: An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence. The 99.9% indemnity. Limited Form: A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE! Other Things To Be Aware Of: Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc. Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful. Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More. This is one more example of how Fast Easy Accounting is helping construction company owners just like you put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com
Contractor Success Map with Randal DeHart | Contractor Bookkeeping And Accounting Services
Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that. But now that you are the boss you don't know where to start NOW THAT'S STRESS! Spending Time To Set Up - Your construction company properly will save you grief, time, money and pay you dividends in the future. In addition you will do a better job protecting your business and personal assets. Get Organized - Pick a company name that says something about what you are doing. We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation. Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague. Bookkeeping Service - That understands construction is best when you start because we can setup QuickBooks correctly in the beginning and take care of the accounting until you are ready to take over. Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. Never Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation. Put Money In And Take Money Out - Of your business is O.K. in done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Insurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs. Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email sharie@fasteasyaccounting.com. Performance Bonds - If you are doing public sector work you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds. Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank. Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your accounting. Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or you can use something like UDA. Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application. No Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. McDonald's restaurant model: #1 Customer places order #2 Customer pays #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money. Marketing Then Sales - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your strengths, weaknesses, opportunities and strengths? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. www.FastEasyAccounting.com/mba Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well. Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn The Easy Way Or The Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect it The Contract Abuse - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24% The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. Indemnity clauses could make you pay the customer's attorney fees and costs. Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits. Oftentimes the term and coverage of the warranty is beyond normal industry standards. Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes. The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project. Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand. Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor. The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion. Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king! Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project. Three types of indemnities: Broad Form: A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence. The 100% indemnity. Intermediate Form: An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence. The 99.9% indemnity. Limited Form: A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE! Other Things To Be Aware Of: Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc. Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful. Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More. This is one more example of how Fast Easy Accounting is helping construction company owners just like you put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 sharie@fasteasyaccounting.com
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