Coachcasts

E408: Work Sequencing And Trade Stacking

March 9, 2016 TonyB Coachcasts, Project Management 0 Comments

Whan work sequencing fails we all lose. But, who’s to blame?

 

  1. When work sequencing fails
    1. Too many people in one area – too many cooks spoil the stew
    2. Multiple mobilization
    3. Lost production and further schedule slippage
  2. Fix the problems not the symptoms – the root causes of most fails
    1. Improper scheduling – no input or poor durations
    2. Improper coordination on the front end and during construction
    3. Communication breakdown when communicating schedule to the trades
    4. Lack of accountability
  3. Things we can all do to help (it’s a problem for all of us and will take all of us to fix it)
    1. Planning
      1. Primes – get input from subs / trades
      2. Subs – give real feedback
    2. Coordination
      1. Primes – Walk around and talk with subs / trades – engage communication
      2. Subs – work together as a team
    3. Communication
      1. Primes – be clear about expectations
      2. Subs – be honest about durations and speak up early when there are delays
    4. Everyone be more accountable – if you say something, do it

 

Podcast Pic 408

E407: Community Organization Participation

March 8, 2016 TonyB Coachcasts, Marketing, Sales 0 Comments

Small businesses have a great opportunity to help shape the local community. Don’t miss out.

 

  1. Get involved with local community organizations
    1. Chamber of Commerce
    2. Business groups
    3. Charitable organizations
  2. Participate and give back
    1. Join, sponsor, support or volunteer – what works best for you
    2. Particpate in creative ways like having our staff help with events
    3. Get your employees involved in your organizations and support their organizations
  3. There are endless benefits
    1. I don’t want you to do all this for nothing – there are benefits for us
      1. Just dont try to keep score – that’s a losing game
    2. Opportunities to network
      1. You never know what you meet that person that gives you your next big lead
    3. Makes you and your employees proud to be part of your organization

E406: Ask Coach – Is Your Overhead Estimate Right?

March 7, 2016 TonyB Ask The Coach, Coachcasts, Uncategorized 0 Comments

Tracking and correcting overhead is just as important as job productivity.

 

  1. Common miscalculations
    1. Using a standard overhead markup and not checking it
    2. Not allowing for fluctuations in sales
    3. Not checking and tracking overhead
  2. The best way
    1. If it’s job-related it should be part of your cost of goods sold (COG)
    2. Set your rates based on real historical data
    3. Try to cover your overhead in 9 to 10 months
      1. If you overhead is $500K and you do $5M in sales our overhead is 10%
      2. Your markup should be 12% to cover the $500K in 10 months
  3. Track and adjust just like productivity
    1. Track your billings and earnings for each month
    2. If you are falling behind make adjustments
    3. Trim you overhead, increase productivity or get more sales
      1. Just watch lower numbers too much for the sales

E405: A Good Morning Routine

March 4, 2016 TonyB Coachcasts, Improvement 0 Comments

Start your day off with a good morning routine to boost your productivity.

 

  1. There are great benefits to a good routine
    1. Good habits build success
    2. Morning momentum carries through the day
    3. Set your mind up right
  2. Build your routine
    1. Many things can work
    2. Make it a rounded effort
      1. mind / body / spirit
    3. Try different things to see what works for you
  3. Getting started
    1. Do some things that help raise you up
    2. Try to add one or two things to your morning
    3. Get some things that get you excited and ready to challenge the day

E404: Ask Your Employeess

March 3, 2016 TonyB Coachcasts, General Business, Human Resources 0 Comments

Don’t miss out on one of the best, untapped resources in your company.

How often do you or one of your senior managers spend time talking and listening to your employees? Not enough.

 

  1. Your employees know
    1. They know the real values of your company
    2. They know why your competition is kicking your butt
    3. They know why Joe in accounting is so unhappy (and how much he is stealing)
  2. The best, untapped resource – don’t just sit on the well
    1. Engage and ask questions
    2. Be open and listen to the feedback
      1. They are entitled to their opinions and you don’t need to argue with them
      2. Remember perception is reality even if it’s not true
    3. Provide constructive feedback that extends the conversation
  3. A profound effect
    1. Your employees will know you care and they are being heard
    2. They will know they are part of shaping their future
    3. You will gain great insights

E403: Over / Under Billings

March 2, 2016 TonyB Coachcasts, Project Management 0 Comments

Watch your over / under billings for warnings of troubled projects.

 

  1. What are over / under billings
    1. Variances in costs versus billings
    2. Comparison % of costs incurred and % of billings
    3. Key indicator of the project health
      1. Good profits are great but a volatile O/U billings is not a healthy position
  2. Why is it important
    1. Predicts future outcome of your project
      1. Under billings = more costs than income – could indicate a deeper problem
      2. Over billings = more income than costs – could indicate a future cash flow strain
    2. Shows trends over many projects
    3. Allows you to adjust
  3. Follow Plan, Do, Check, Act
    1. Successful contracting must follow this philosophy
    2. Keep your WIP up to date and watch for large variances
    3. When you see key indicators showing variances it’s time to investigate
    4. Adjust your timing based on your projects

E402: The Elevator Story

March 1, 2016 TonyB Coachcasts, Marketing 0 Comments

Tell a quick story to explain why you are different than the competition.

 

  1. The trouble with pitches – and marketing in general
    1. Blah, blah, blah – I wanna talk about me
    2. There is little about the customer and what’s important to them
    3. You are just another contractor among the many
  2. Tell a story to make it memorable
    1. Tell a story to introduce your company and how you make a difference
    2. The basic story goes like this:
      1. You know when you are _Goal_ and you run into __obstacles__? We do __solve the problem__.
    3. An example:
      1. You know when you are remodeling your bathroom and the contractor takes a long time and doesn’t show up for days? ABC contracting does residential construction and solves these problems with fast construction and we offer our no-show guarantee. If we don’t show up and work on your project on a given we deduct $500 off the price.
  3. Create your story
    1. Try different variations and test them on friends
    2. Think about your potential clients when crafting the story – know their pain points
    3. Keep refining and adjusting your story

E401: Ask Coach – Is Your Estimated Productivity Right?

February 29, 2016 TonyB Ask The Coach, Coachcasts 0 Comments

Manage your projects closely yo make sure production matches your estimate.

 

  1. Establish benchmarks
    1. Look at estimating guides (just for a start)
    2. Compare to your experience and actual production
    3. Use your gut
  2. Make adjustments
    1. Job specific adjustments
    2. Seasonal effects on production
    3. The effects of your personnel
    4. Use historical feedback
  3. Tracking, monitoring and adjusting
    1. It could be said that your estimate is right if you got the job
      1. Now it’s time to hit the numbers
    2. Develop tracking systems for key metrics to make sure you hit the numbers
    3. Make adjustments to productivity and cost
      1. The bottom line is to finish the project at or below estimated cost

E400: Focus On What You Can Do Now

February 26, 2016 TonyB Coachcasts, Improvement 0 Comments

Clear the clutter from your mind and focus on what you can do now.

 

  1. We all have those times
    1. We worry too much about something
    2. We get too mad and hold a grudge too long
    3. Our mind becomes consumed with the past or future
  2. When you do – think about the now
    1. Sure, vent / blow-off steam / cry  / grieve / etc. – let it out but get back to now
    2. What can you change in this moment
    3. What action can you take right now
  3. Focus on the here and now
    1. When those emotions come in, fell them and know these are a signal
    2. What changes can you make now that will correct in the future
    3. How do you put this behind you and move on

E399: Work In Progress Schedule

February 25, 2016 TonyB Coachcasts, General Business 0 Comments

A proper work in progress schedule can give you a glimpse of the future.

 

  1. What is a Work In Progress (WIP) schedule
    1. A tracking of current projects
    2. A snapshot of current project health
    3. A summary of job costing and progress efforts
  2. What does it do for us?
    1. Let’s us get  a quick glance of all our projects
    2. Compare % complete by cost to % complete by billings
      1. This allows us to identify problems early before they grow out of control
    3. Show a prediction of future gross earnings
      1. Shows us the remaining work along with remaining costs to complete and our expected future earnings
      2. Giving us a heads up that we may be running into a shortage on revenue
  3. Setting up a WIP schedule
    1. See the template in the Resources tab for use
    2. It’s a spreadsheet that tracks key items of the project
    3. This should be updated on a regular basis that best suits your projects

Contractor's Business Evaluation Course

Take this Contractor’s business evaluation course and identify the areas that need improvement most.
SIGN UP FOR THE FREE