Posts by GPS
Evolving Impressions
By GPSWhen considering specific options for your next printing project it helps to have a good understanding of the different types of printing available and how new technology is helping to make printing and marketing communications more effective and cost-efficient.
The earliest dated printed book, known as the Diamond Sutra, was produced in China in 868 CE, but it is believed that the practice dates back well before this date. Many other contributors like Johannes Gutenberg and Ottmar Mergentahler have since then given us the ability to share our thoughts, ideas [and promotions] in printed form with others. The twenty-first century …
Let It Ride
By GPSOne of the most frequently asked questions by business owners regarding lending and business finance is, “Why does the bank need my personal guarantee?” The answer is fairly simple—they do not!
As a borrower, the business owner has a choice. However, with some financial institutions, the philosophy is best expressed as “my way or the highway” unless the banker feels comfortable with the business operations and the other types of security proposed. Although, if the business and its owner are on sound financial footing there may be room for negotiation regarding personal guarantees. Successful negotiation does not require the Wisdom …
Really…There Is No Secret To Starting A Business
By GPSMany start-up companies fail within the first few years. Learn how to establish a game plan and make a profit.
Imagine five basketball players that never practice, have no game plan or a backup in place to allow for change should something go wrong during a game. Should they expect to meet a professional team on the court and win? You are probably laughing because it would never happen. However, imagine you have an idea or think you have a better way to accomplish a goal than someone else. What do you do? You gather some money and away you …
Where’s the Money
By GPSBy Douglas DeRubeis as featured in Construction Today
Successful contractors see the recession as an opportunity for improvement.
You were certain you had done everything right. You won the bids. You generated the sales. Revenue was great, even in this economy. You had dreams of finally taking that vacation. And then, the end-of-year numbers came in—and you actually lost money. You couldn’t believe it. You made the accounting department run the numbers again, but they were right. How could this have happened?
It may sound like a bad dream, but for too many construction companies, it is reality. They seemingly …
Get in Control
By GPSBy John Emerson as featured in Construction Today
Having a good grip on your business practices will help you steer the company in the right direction.
The vast majority of construction company owners believe they are not in control of their destiny. They argue that outside forces, recessions, strikes, materials shortages, natural disasters and the like can cause them to fail and there’s nothing they can do about it. One of the most difficult accomplishments for business advisors is to convince owners that they do in fact have a great deal of control and can achieve the results they want, …
Survivor Style
By GPSBy Dan Light as featured in Construction Today
In tumultuous times, leadership skills could be the guiding light to steer your business out of the storm.
Just as basically healthy individuals recover more quickly from illness, so, too, do healthy businesses recover from a few bumps in the road, such as an economic downturn. Among the retrospective measures that reflect the company’s health are items on the balance sheet and income statement, including cash flow, net profit, growth rate, productivity and return on investment rates. Unfortunately, by the time such historical data indicate symptoms of trouble, it may already be …
6 Sins
By GPSBy Dan Schneider as featured in Construction Today
Owners can make SIX CRITICAL MISTAKES in managing their businesses. Are you making any of them?
Surviving in today’s business world is more difficult than we have witnessed ever before. Small- and mid-sized businesses are failing at a rate that has not occurred in more than 60 years. An analysis of the reasons for this high rate of failure quickly points to the following fundamental errors made by business owners.
A passive sales process.
Business owners rely on their existing relationships—usually one or two customers—to provide them with enough business to pay …
Tick-Tock
By GPSBy Tom Camarda as featured in Construction Today
Proper Time management increases productivity and profit.
Time is a finite, valuable resource, and managing it efficiently is critical to the successful, on-time completion of construction projects. How managers and employees manage their time affects performance, productivity and profitability. Accordingly, failure to deliver projects on time usually has negative financial consequences for construction companies and their clients. Although the principles of time management are not rocket science, they are easily forgotten in the rush to put out daily fires.
Here are 13 best practices in time management that can help ensure efficiency …
Paradigm shift
By GPSBy Dan Schneider as featured in Construction Today
An owner’s mentality can drive company culture to either inhibit or stimulate innovation.
More than 400 construction company owners and various contractors who were recently surveyed were asked, “What business are you in?” Only one business owner answered the question correctly. The wrong answers went like this: “I’m in the construction business.” The right answer came from a plumbing contractor who said, “I’m in the sales business, and I just happen to be really good at plumbing installation, service and project management.” That plumbing contractor is doing very well at a time …
Back to Basics
By GPSBy Al Moores-Warren as featured in Construction Today
Project management can be easy if you pay attention to three critical stages.
Sound project management can make the difference between being profitable and losing large amounts of money. If done well, it can assure the sustainability of a firm. Conversely, if done poorly, it can threaten its very existence. In fact, many professionals in the industry believe that the management of a project and the ability and skill sets of the project manager are directly proportional to the profitability of any moderate or large-scale construction project.
Project management, if done properly …
