Month: April 2016

E445: Practice Focusing On Today

April 29, 2016 TonyB Coachcasts, Improvement 0 Comments

Today you are exactly where you are supposed to be. The future is up to you.

 

  1. The past is just a memory
    1. It’s gone and nothing we do today will change it
    2. Stop dwelling on the past – it will not repeat unless you let it
    3. We must use the past for lessons and move on
  2. The future is just electrical charges in our brains
    1. Have a bill due next week and not sure how you are going to pay it? Worry will not change that, only action will
    2. Don’t allow yourself to get caught up in the “what-ifs” or “I will change whens” – practice taking action
    3. The future is shaped by the actions you take today
  3. Learn to focus on today – it’s the only thing that is real
    1. We can’t change the past but we can re-negotiate the future
    2. It starts with taking action today
    3. It can be hard to stop the dwelling so try some of these things to help
      1. Write down lessons learned from the past – both good and bad
      2. Take a walk
      3. Listen to some music
      4. Let the future be a catalyst for taking action

E444: Managing Our Insurance Coverage

April 28, 2016 TonyB Coachcasts, General Business 0 Comments

Insurance is supposed to be there when you need it. Are you covered?

 

 

  1. Insurance is important and covers us when things go wrong
    1. We covered W/C, today is about other insurances
      1. General Liability / Errors & Ommissions / Property / Etc.
    2. Covers us in catastrophic events
    3. It keeps us in business
  2. Making sure we are covered properly is important
    1. We rely on our agents to do this
    2. Are you covered if?
    3. Are you paying a fair price?
  3. How can we as contractors possibly know all about insurance
    1. We can’t know it all so we rely on agents
    2. Our job is to ask questions
    3. Make sure our agents understand our business
    4. Make sure our agents are doing their job and getting us quotes

E443: Handling Drawing Conflicts & Clarifications

April 27, 2016 TonyB Coachcasts, Project Management 0 Comments

Don’t let drawing conflicts and clarifications derail your projects.

 

 

  1. Drawing conflicts and clarifications occur, embrace them
    1. It’s part of the construction process and is often dictated by budgets
    2. The design team cannot include every little detail
    3. It’s our job to bring our expertise to complete the project
  2. We are the experts and that is why we got hired
    1. We are hired to manage the construction using our knowledge
      1. This is the journey that we take with our clients
    2. These opportunities are our chances to shine and show why they hired us
    3. Handle these better than the rest
  3. Be proactive in your approach
    1. Do constructability reviews
      1. Conduct them in the estimating process, during pre-construction and during your preparatory meetings
    2. Don’t just point our problems, provide your interpretation and solutions
    3. Be the Captain of your projects

E442: Don’t Overlook The Sales Opportunities At Hand

April 26, 2016 TonyB Coachcasts, Marketing, Sales 0 Comments

Our biggest opportunity to find more work is often overlooked.

 

  1. Current opportunities are all around us – don’t waste them
    1. It’s 7 times easier to sell more to an existing customer than find a new one
    2. Current customers include more than just your clients
      1. Architects & Engineers / Vendors / Subcontractors can all lead to opportunities
    3. The best marketing is word of mouth
  2. Build relationships with all your stakeholders
    1. Relationships lead to referrals
    2. Always work to be the best in the eyes of your stakeholders
    3. Make it a habit to make their job easier
  3. Promote yourself and your stakeholders
    1. Don’t be afraid to ask
      1. Do you have any other projects? How can I help you?
      2. Do you know similar customers that you can introduce me to?
      3. Do you give referrals and I can I be one that you refer?
    2. Promote others – you can’t expect them to promote you if you are not willing to do the same for them
    3. Seek ways to work together in the right situations

E441: Ask Coach – Choosing The Right Project Management System

April 25, 2016 TonyB Ask The Coach, Coachcasts 0 Comments

Deciding what project management system to use takes some careful consideration.

 

Q: How do I know which project management system if right for my company?

A: The one you will use and fits your needs.

 

  1. The most important thing is to have a system to use
    1. This is how we organize our projects
    2. They can create time
    3. Create processes that work for you
  2. Figure out what you want then compare what is available
    1. What do you want to improve?
    2. How do you want to use it? What functions do you want to accomplish?
    3. How will you use it? Mobile? Tablet? Computer?
    4. How will clients use it? Will they use it?
    5. Make a list of the things you want so you can compare the different systems
  3. Now that you have chosen a system the work is just getting started – or maybe several systems
    1. If you don’t use the system then it’s a waste of time
    2. Create policies and provide education on using the new system
    3. Start small, maybe just one or two modules or aspects like drawing management
    4. Then add additional items as people get used to the system
    5. Inspect the work – if you want people to use it then you need to verify they are

E440: Make A Habit Of Creating Time

April 22, 2016 TonyB Coachcasts, Improvement 0 Comments

Time is our most valuable resource so work at creating more of it.

 

  1. Time is the one resource we cannot get more of
    1. We all have the same 24 hours in a day
      1. When you take out sleep and the necessary things you end up with 12 to 14 hours a day
    2. Start allocating time for other things and it’s no wonder everyone is stressed
    3. Most people don’t value time enough, therefore, don’t make it a habit to maximize it
  2. How do we create more time
    1. We can create more time with batching, routines and processes
    2. They can be simple or complex
      1. Simple – Steve Jobs wore the same outfit every day – saved 5 to 10 minutes a day
      2. Technology – Software that creates invoices from daily reports
    3. These are tools that create time
  3. Get started creating time
    1. Review your activity log
    2. Look at batching activities – ie: If you process A/P invoices every day save and do them once per week
    3. Create routines that will save you time – saving 10 minutes a day equates to 43 hours a year
    4. Create processes that will save you time and money – invest some time now for a lifetime of savings

E439: Stay On Top Of Your Workers Comp Insurance

April 21, 2016 TonyB Coachcasts, General Business 0 Comments

Workers comp protects you and your workers so don’t take it lightly.

 

  1. Workers comp is important insurance in the construction industry
    1. It protects our company in the event that someone is injured
    2. It protects our workers in the event they are injured
    3. It deserves some attention
  2. Key things to understand about workers comp
    1. Worker classifications
      1. Your rates are determined by the classification of the work your employees perform
        1. A common labor versus an iron worker
        2. An equipment operator versus a clerical worker
      2. Your rates are adjusted based on audits of your payrolls
    2. EMR – Experience Modification Rating
      1. This is a rating of your past performance as it relates to claims and safety
      2. This rate is a multiplier that is used to adjust your total premium
        1. If your premium is calculated to be $100,000 and your EMR is .80 you will pay $80,000 not $100,000
    3. Make sure your agent understands your business and represents you properly
  3. With an understanding of these key things we can do our part to help control the costs of W/C
    1. Ask your agent questions to make sure they understand your needs – if not get an agent that specializes in construction
    2. Manage your payroll closely and make sure you classify your workers properly
    3. Work to lower your EMR – safety is key
      1. This is an added benefit of our focus on safety

E438: Project Changes Are Opportunities To Shine

April 20, 2016 TonyB Coachcasts, Project Management 0 Comments

Project changes provide us a chance to show our clients why they hired us.

 

  1. Elite contractors see changes as opportunities
    1. Our chance to remind clients why we are the best
    2. We handle them properly with
      1. Good communication
      2. Great documentation
      3. Open cooperation
  2. Approach changes with a solutions mindset
    1. Try to achieve the same result with no cost impact
    2. Provide alternative solutions the lower the cost impact
    3. Provide solid documentation with full impact
  3. Keep the right mindset
    1. Too often contractors see changes as opportunities to boost profit – avoid the trap
    2. Keep your best interests in mind but keep your client’s best interests as a close second
    3. At the end of the day your client needs a result and we are here to deliver that result in the best way possible

E437: Dominate Your Market With Customer Satisfaction

April 19, 2016 TonyB Coachcasts, Marketing, Sales 0 Comments

Customer satisfaction goes far beyond quality construction.

 

  1. The biggest misconception
    1. Build a quality project and they will hire me again
      1. Not always true – if you are a pain to deal with they won’t want you back
    2. If the client gets the project they want then they will hire me again
    3. If I give the lowest price the customer will hire me
  2. To dominate your market you need to focus on customer satisfaction
    1. The quality project is only part of the equation to success
    2. There are a lot more pieces to the puzzle
    3. Give your customers a luxury journey
      1. The journey is the interaction during the construction process
      2. The paperwork / reporting / invoicing / interaction / changes / solutions / public interaction / etc.
  3. Customer satisfaction yields great results
    1. It’s 7 times easier to get more work from existing clients than to find a new one
      1. I consider referral business the same as repeat work
    2. Make things easy for your customers and they will make things easy for you
    3. Our #1 goal is to be the preferred provider and customer satisfaction is the solution
      1. Clients will want you on the next project
      2. They become raving fans
      3. They find ways to work with you and often pay more

E436: Ask Coach – Should I Stick To One Niche Market?

April 18, 2016 TonyB Ask The Coach, Coachcasts 0 Comments

Stick to a niche to get rich but don’t put all your eggs in one basket.

 

Q: You talk a lot about focusing on a niche market, should I stick to only one market?

A: No, However, you should master one before branching out.

 

  1. Focusing on a niche is important
    1. We want to be the preferred provider so we need to be the best
    2. Focusing on a niche allows us to gain knowledge that other don’t have
    3. Our crews and teams have efficiencies that others struggle to obtain
  2. There is a downside that we need to protect against
    1. Market conditions change and your work could dry up
    2. New technologies or materials could make advances
    3. Your clients may not have enough work for you to grow
  3. Master your niche and then expand and repeat
    1. First focus on growing and mastering your current niche
    2. Expand your client base in that niche
    3. Then look to branch into other niche markets
      1. The question came from Peter who does light commercial plumbing and after our discussion, he started looking to branch into restaurant work
    4. Find a niche the requires complementary skills and grow from there, preferably with you current clients

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