Contractor's Survival Manual
Explains what it really takes to survive hard times in the construction industry and how to thrive in good economic times by taking full advantage of the business cycle. Whether you're just getting started or have been bidding jobs and meeting payroll for years, this practical manual will suggest the best ways to overcome a contractor's most persistent problems. Survival comes first. You'll never get the chance to thrive in construction if you can't get through a debt crisis: what to do when...
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Explains what it really takes to survive hard times in the construction industry and how to thrive in good economic times by taking full advantage of the business cycle. Whether you're just getting started or have been bidding jobs and meeting payroll for years, this practical manual will suggest the best ways to overcome a contractor's most persistent problems. Survival comes first. You'll never get the chance to thrive in construction if you can't get through a debt crisis: what to do when bills can't be paid, finding money and buying time, conserving income, transferring debt, handling creditors, choosing assets to liquidate, setting payment priorities, cash float techniques, alternatives to bankruptcy, dealing with lawsuits, judgments and liens, and laying the foundation for recovery.But surviving the crisis is only the start. Stabilizing and building profits come next. This book explains: Knowing the business you're in, Establishing a QuickBooks Pro bookkeeping system, Capital-extensive vs. paper contracting, Marketing and building a prospect list, Billings and collections, Planning for the economic cycle, Using other people's cash, Becoming a good salesman. Thriving is what you're "building" up to. The final section of this book will help ensure you succeed at: Setting realistic goals, Using limited partnerships, Working with local building officials, Calculating overhead, contingency and profit margins, Structuring your company, Building financial reserves, Accurate estimating, Scheduling and contracts. Contractor's Survival Manual has been thoroughly updated, including major new sections on the use of personal computers for bookkeeping, estimating and scheduling, and Webaddresses that have additional useful information. You won't find conventional advice in this book. Instead, expect to learn what's really needed to survive, stabilize and thrive as a construction contractor.
Surviving 5Which Way Is Up? 7How bad is it - really? 8Transferring debt 11You can't make it up on volume 12Finding a group and regrouping 13How long in? How long out? 15Being threatened with lawsuits 17Debt organization and priorities 18Too little debt 22Collection agencies and your credit rating 23Trading services and working off debts 26Summary 26Finding Money and Buying Time 29Finding money 29Buying time 38Summary 52Got That Sinking Feeling? 55Bankruptcy and legal process 55Alternatives to filing for bankruptcy 66Foreclosures 78Mechanic's, contractor's and construction liens 78Summary 80One Problem at a Time 83Your home, your home phone and your privacy 83Time off 85Employees 85Summary 86Stabilizing 89Bring Some Sanity to Your Business 91Understanding what business you're in 92The basics of construction contracting 93A word about profits 96Coping with recessions 97Cash flow, conserving income and avoiding debt 107Summary 109Who's Minding the Store? 11Accounting using a computer 111People aspects of the accounting system 129Summary 147Who, Me Work? 149Sole proprietor or partnership 150Job supervision and your foreman 152Expecting the unexpected 155Losing time 161Risk management 163The labor relations board 165Summary 167The Equipment Payment's Past Due 169Capital-intensive contractors 170Paper contractors 172Doing your own work 173Equipment maintenance 174How many jobs in how many hours? 175Growing the business 178Profits as a measure of success 179Your working radius 182Summary 183So You Can't Find a Job? 185Maybe you're a lousy salesman 185Repeat business 187Promotion and public relations 190Customer leads 194Credit checks 202Where's the money coming from? 203Summary 205Thriving 207Your Purpose and Goals 209Goal setting 209A realistic look at retirement 215Your work and your company 217The family-run company 220Summary 221Go Where the Money Is 223What goes up may not come down 224Their buck vs. your buck 228The limited partnership 230Cash is king 235Staying power and reserves 236Summary 238Over-Design, Under-Design and No Design 239Architects and engineers 239The design process 240Zoning and permits 241Planning and building departments 244Plans and specifications 246Building codes 248Summary 251Second, for the Third Time 253Are you sure you're in the right business? 253If bid you must.. 255Negotiated fees and design-build contracts 259Accurate estimating 261Overhead 269Financing and carrying your client 274Scheduling 277Contracts 280Summary 281Investing in Inflation 283Buying and investing in property 284Trading property 284Investing in your projects 289In summary 294Appendices 297Blank Forms 299Creating an Income versus Expense Graph 315Minutes-to-Hundredths-of-an-Hour Conversion Chart 325Index 327
