var g_txt=[
{t:"10",p:1,x:607,y:392,w:100,h:120},
{t:"to building a more proftable  ",p:1,x:749,y:446,w:209,h:19},
{t:"construction business",p:1,x:749,y:466,w:157,h:19},
{t:"Steps",p:1,x:676,y:438,w:63,h:30},
{t:"Leslie Shiner, MBA",p:1,x:805,y:835,w:109,h:18},
{t:"Sage Certifed Consultant",p:1,x:805,y:857,w:149,h:18},
{t:"10 Steps to Building a More Proftable Construction Business is a pragmatic approach ",p:2,x:390,y:469,w:546,h:17},
{t:"to developing business practices that r",p:2,x:390,y:494,w:248,h:17},
{t:"esult in greater proftability . The lessons here apply ",p:2,x:632,y:494,w:318,h:17},
{t:"whether you’re a general contractor, builder or subcontractor working in r esidential, ",p:2,x:390,y:519,w:551,h:17},
{t:"commercial, home building or any number of specialty construction trades. The 10 steps ",p:2,x:390,y:544,w:561,h:17},
{t:"that follow are based upon the concept of the pr oft cycle—a complete, four -part cycle ",p:2,x:390,y:569,w:547,h:17},
{t:"designed to help construction pr ofessionals learn from their mistakes and r epeat their ",p:2,x:390,y:594,w:539,h:17},
{t:"successes. As you will see, the goal is not to work more, but to work more effectively— ",p:2,x:390,y:619,w:552,h:17},
{t:"and improve your company’s bottom line as you go. ",p:2,x:390,y:644,w:331,h:17},
{t:"10 Steps to Building a More Proftable Construction Business contains strategies that ",p:2,x:390,y:691,w:564,h:17},
{t:"can be used effectively in any number of ways. Ultimately , the key to success is the ",p:2,x:390,y:716,w:550,h:17},
{t:"integration of every step within the proft cycle—yet substantial results can be realized  ",p:2,x:390,y:741,w:557,h:17},
{t:"by selecting and implementing only a few of these steps every month. ",p:2,x:390,y:766,w:452,h:17},
{t:"Introduction",p:2,x:391,y:389,w:153,h:35},
{t:"Leslie Shiner has an MBA degr",p:2,x:388,y:906,w:198,h:17},
{t:"ee from U.C. Berkeley with an emphasis in Finance",p:2,x:592,y:906,w:328,h:17},
{t:"and Accounting. She has over 20 years experience providing fnancial management ",p:2,x:388,y:931,w:552,h:17},
{t:"services to the construction industry. She leads construction accounting and project ",p:2,x:388,y:956,w:544,h:17},
{t:"management seminars ar ound the country and fr equently speaks at national confer ences. ",p:2,x:388,y:981,w:568,h:17},
{t:"Leslie has served as an Adjunct Faculty member at Dominican University",p:2,x:388,y:1006,w:466,h:17},
{t:", San Rafael, CA.",p:2,x:834,y:1006,w:110,h:17},
{t:"and at Sonoma State University .",p:2,x:388,y:1031,w:210,h:17},
{t:"About the Author",p:2,x:390,y:826,w:221,h:35},
{t:"1",p:2,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:2,x:62,y:1246,w:320,h:13},
{t:"10 Steps",p:2,x:60,y:31,w:142,h:94},
{t:"to building a more proftable  ",p:2,x:81,y:112,w:127,h:13},
{t:"construction business",p:2,x:81,y:127,w:93,h:13},
{t:"1",p:3,x:85,y:0,w:125,h:262},
{t:"Creating a detailed, accurate estimate for the work you propose to do is the frst step toward achieving real ",p:3,x:270,y:199,w:667,h:16},
{t:"proftability – yet too many contractors fail to calculate the true cost of a proposed project based upon three ",p:3,x:270,y:220,w:657,h:16},
{t:"essential elements: overhead, risk and job costs. Each of these elements must be r",p:3,x:270,y:242,w:504,h:16},
{t:"efected in the estimate",p:3,x:791,y:242,w:140,h:16},
{t:"ahead of time if you expect a proft once the job is completed: ",p:3,x:270,y:264,w:380,h:16},
{t:"Overhead. Understanding overhead is important. Think of overhead as the costs that would remain even if your ",p:3,x:270,y:306,w:685,h:17},
{t:"crew didn’t do any work for a week. You would still need to pay the bookkeeper, telephone, insurance, rent, and ",p:3,x:270,y:329,w:677,h:16},
{t:"utilities—as an example. ",p:3,x:270,y:349,w:151,h:17},
{t:"Risk. It is important to include risk factors in each estimate",p:3,x:270,y:396,w:355,h:17},
{t:"—a “contingency” line",p:3,x:611,y:396,w:134,h:17},
{t:"—rather than just padding her",p:3,x:741,y:396,w:183,h:17},
{t:"e and ",p:3,x:917,y:397,w:37,h:16},
{t:"there. That way, you can measure your true costs against a real budget, as opposed to a padded one. Time and  ",p:3,x:270,y:419,w:690,h:16},
{t:"materials jobs have the least amount of risk while the bidding pr",p:3,x:270,y:440,w:386,h:16},
{t:"ocess for contract jobs includes the most.",p:3,x:639,y:440,w:255,h:16},
{t:"Job Costs. Labor can be the riskiest and most diffcult part of the estimating process. In order to prepare an ",p:3,x:269,y:483,w:666,h:17},
{t:"accurate estimate, you must know how long each task will take and how much each task will cost—and that ",p:3,x:269,y:505,w:664,h:16},
{t:"depends on the relative effciency of your personnel. Without understanding the true productivity of your feld ",p:3,x:269,y:527,w:675,h:16},
{t:"staff, you cannot create accurate and reliable estimates.",p:3,x:269,y:549,w:339,h:16},
{t:"Take-Away… ",p:3,x:270,y:591,w:97,h:18},
{t:"It is important to remember that the mathematical difference between the budget and the bid is both overhead ",p:3,x:270,y:614,w:674,h:16},
{t:"and ",p:3,x:913,y:614,w:27,h:16},
{t:"proft. The goal of an accurate estimate is to determine your true costs–and offer you the ability to accurately ",p:3,x:270,y:635,w:661,h:16},
{t:"assess the progress and proftability of each job against a pre-determined benchmark.",p:3,x:270,y:657,w:523,h:16},
{t:"Once you’re awarded a job, it’s crucial to perform the work in the most cost-effective way possible if you expect ",p:3,x:270,y:873,w:682,h:16},
{t:"to make a proft. While that may be easy in theory, it can be another matter altogether in practice. To effectively ",p:3,x:270,y:895,w:674,h:16},
{t:"manage a job, keep these important factors in mind: ",p:3,x:270,y:916,w:322,h:17},
{t:"Change orders. Too many contractors lose money on change orders because they don’t systematically track ",p:3,x:270,y:959,w:672,h:17},
{t:"costs and don’ t take the time to bill for the change work they perform. Ir",p:3,x:270,y:982,w:433,h:16},
{t:"onically , change or ders can be an excellent",p:3,x:685,y:982,w:255,h:16},
{t:"source of additional proft because you have no competition for the work. In order to better track and manage ",p:3,x:270,y:1003,w:669,h:16},
{t:"change orders, you must create procedures to record changes in the feld, turn those changes into work orders, ",p:3,x:270,y:1025,w:683,h:16},
{t:"and obtain signoff on approved work for billing purposes. ",p:3,x:270,y:1046,w:350,h:17},
{t:"People productivity. As Ben Franklin said, “time is money,” and it’s especially true in construction. For example, ",p:3,x:270,y:1089,w:687,h:17},
{t:"if you run a job exactly as budgeted, but it took two weeks less to complete than expected, you have added pr",p:3,x:270,y:1112,w:673,h:16},
{t:"oft ",p:3,x:920,y:1112,w:21,h:16},
{t:"directly to your bottom line. Why? Because that job will carry two weeks less overhead. ",p:3,x:270,y:1133,w:533,h:16},
{t:"Estimating for Proft",p:3,x:270,y:80,w:265,h:34},
{t:"2",p:3,x:84,y:679,w:125,h:262},
{t:"Managing Job Production for Proft",p:3,x:269,y:759,w:470,h:34},
{t:"2",p:3,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:3,x:62,y:1246,w:320,h:13},
{t:"Keep everyone informed. Both employees and subcontractors need to know the job schedule.",p:4,x:270,y:115,w:585,h:16},
{t:"Subcontractors appreciate early notice of schedule changes and will be more willing to help you out. ",p:4,x:270,y:137,w:613,h:16},
{t:"Take-Away… ",p:4,x:270,y:179,w:97,h:18},
{t:"Consider the familiar stor y of the $150 box of staples: if you run out of staples on a job site, the cost of those",p:4,x:270,y:202,w:656,h:16},
{t:"staples amounts to the purchase price of the staples PLUS the cost of the time wasted by the crew as they",p:4,x:270,y:224,w:652,h:16},
{t:"stop to look through all the trucks for them PLUS the hourly rate of the most expensive person on your crew",p:4,x:270,y:245,w:656,h:16},
{t:"who must be sent to the hardware store to buy them. And don’t forget the stop for the coffee and donuts.",p:4,x:270,y:267,w:644,h:16},
{t:"By utilizing a schedule that includes a complete parts list by task, you’ll have all the materials you need on the",p:4,x:270,y:289,w:662,h:16},
{t:"job each day—and will improve the likelihood of being proftable by eliminating unproductive downtime.",p:4,x:270,y:310,w:625,h:16},
{t:"True job cost accounting can increase your proftability by helping you understand the actual costs associated with ",p:4,x:270,y:531,w:674,h:16},
{t:"each job. A pr oper accounting system needs to accomplish two things: one, ef",p:4,x:270,y:553,w:476,h:16},
{t:"fectively meet your daily accounting",p:4,x:733,y:553,w:215,h:16},
{t:"and bookkeeping needs and two, meet your specifc r",p:4,x:270,y:575,w:328,h:16},
{t:"equirements as a contractor. That means streamlined ",p:4,x:604,y:575,w:334,h:16},
{t:"processing and an ef fective way to manage workers’ compensation, liability insurance, bonding and other issues of",p:4,x:270,y:596,w:694,h:16},
{t:"concern to you. ",p:4,x:270,y:618,w:96,h:16},
{t:"Remember that an accurate construction accounting system must distinguish between overhead costs and direct ",p:4,x:270,y:661,w:680,h:16},
{t:"job costs. You must also be able to systematically compar",p:4,x:270,y:683,w:355,h:16},
{t:"e your budgeted costs to your actual job costs to",p:4,x:632,y:683,w:299,h:16},
{t:"measure estimating effectiveness, labor pr oductivity and use of materials.",p:4,x:270,y:705,w:438,h:16},
{t:"Assigning the right responsibilities to the right people will help make your accounting system work for you. ",p:4,x:270,y:748,w:661,h:16},
{t:"To accurately assign costs to a job, your project manager needs to be the one who codes the bills. If left to ",p:4,x:270,y:770,w:652,h:16},
{t:"your bookkeeping staff, they may assign costs incorrectly since they are not close to the actual construction ",p:4,x:270,y:791,w:658,h:16},
{t:"work being done.  The result is that any report that compares actual to budgeted costs by cost code will be ",p:4,x:270,y:813,w:657,h:16},
{t:"inaccurate and therefore meaningless. ",p:4,x:270,y:835,w:235,h:16},
{t:"Purchase orders can also help keep your costs in or",p:4,x:270,y:878,w:318,h:16},
{t:"der. Using purchase orders will ensure that the project ",p:4,x:594,y:878,w:340,h:16},
{t:"manager codes expenses at the time of order, not the bookkeeper, when the bill is received.  And without using ",p:4,x:270,y:900,w:678,h:16},
{t:"a PO, you could end up paying more than your supply house originally quoted if they make a billing mistake. This ",p:4,x:270,y:921,w:687,h:16},
{t:"could happen because your bookkeeper can’t spot the overcharge without a PO showing what the correct price ",p:4,x:270,y:943,w:664,h:16},
{t:"should have been. ",p:4,x:270,y:965,w:115,h:16},
{t:"Contractors spend too much time and energy on accounts payable – and without a workable system in ",p:4,x:270,y:1008,w:652,h:16},
{t:"place, the quantity of incoming invoices will overwhelm your offce. Just as important, if you do not send",p:4,x:270,y:1030,w:630,h:16},
{t:"receivable invoices in a timely fashion and fail to follow up on them, you’ll quickly fnd you don’t have the cash ",p:4,x:270,y:1051,w:667,h:16},
{t:"to take care of the bills.",p:4,x:270,y:1073,w:141,h:16},
{t:"3",p:4,x:85,y:330,w:125,h:262},
{t:"Accounting for Proft",p:4,x:270,y:410,w:276,h:34},
{t:"Take Away… ",p:4,x:270,y:1111,w:95,h:18},
{t:"An effective accounting system will enable you to meet daily bookkeeping needs as well as address issues of ",p:4,x:270,y:1134,w:664,h:16},
{t:"special concern to contractors. And better management means better cash-fow — taking you a step closer to ",p:4,x:270,y:1155,w:675,h:16},
{t:"running a more proftable business.",p:4,x:270,y:1177,w:214,h:16},
{t:"3",p:4,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:4,x:62,y:1246,w:320,h:13},
{t:"4",p:5,x:75,y:0,w:125,h:262},
{t:"Analyze for Proft",p:5,x:270,y:80,w:228,h:34},
{t:"Many contractors make the mistake of thinking of each job as an independent pr",p:5,x:270,y:199,w:490,h:16},
{t:"oject—with a start and a stop. ",p:5,x:732,y:199,w:187,h:16},
{t:"As a ",p:5,x:909,y:199,w:29,h:16},
{t:"result, they rar",p:5,x:270,y:220,w:86,h:16},
{t:"ely take the time to analyze each job and assess the overall success of the business. If you think of your",p:5,x:350,y:220,w:629,h:16},
{t:"projects as cir cular rather than linear",p:5,x:270,y:242,w:214,h:16},
{t:", you will fnd ef",p:5,x:475,y:242,w:93,h:16},
{t:"fective ways to r",p:5,x:561,y:242,w:98,h:16},
{t:"educe costs and incr",p:5,x:654,y:242,w:127,h:16},
{t:"ease profts. ",p:5,x:774,y:242,w:74,h:16},
{t:"Contractors often have tr ouble ending jobs because they ar",p:5,x:270,y:285,w:366,h:16},
{t:"e more focused on starting the next one. Y",p:5,x:643,y:285,w:261,h:16},
{t:"et it’s ",p:5,x:911,y:285,w:36,h:16},
{t:"important to remember that you won’t get paid until you successfully complete the project punch list—and the ",p:5,x:270,y:307,w:673,h:16},
{t:"sooner you do, the sooner you’ll receive payment on the fnal invoice, as well as the retention. ",p:5,x:270,y:329,w:571,h:16},
{t:"A thorough review should be built into your closing pr",p:5,x:270,y:372,w:320,h:16},
{t:"ocess. Look for unbilled amounts still outstanding fr",p:5,x:581,y:372,w:312,h:16},
{t:"om vendors. ",p:5,x:883,y:372,w:78,h:16},
{t:"Look for unbilled change or",p:5,x:270,y:394,w:166,h:16},
{t:"ders. Another important part of the r",p:5,x:430,y:394,w:219,h:16},
{t:"eview process is to compar e your actual costs to your",p:5,x:642,y:394,w:323,h:16},
{t:"budget. Based upon what you learn, you can make needed adjustments, which will help you be more proftable on ",p:5,x:270,y:415,w:677,h:16},
{t:"future jobs.",p:5,x:270,y:437,w:66,h:16},
{t:"Since we’re half-way through the “10 Steps” let’s review the construction business proft cycle again. Within the ",p:5,x:270,y:761,w:678,h:16},
{t:"frst 4 of our 10 Steps, there are multiple strategies to pursue. Decide which of them would provide the most ROI ",p:5,x:270,y:782,w:687,h:16},
{t:"(return on investment) for your company and implement these.",p:5,x:270,y:804,w:378,h:16},
{t:"Take Away… ",p:5,x:270,y:479,w:95,h:18},
{t:"Each job is unique but it’",p:5,x:270,y:502,w:149,h:16},
{t:"s important to remember that there are many similarities in ever",p:5,x:413,y:502,w:383,h:16},
{t:"y project you undertake,",p:5,x:784,y:502,w:146,h:16},
{t:"and that what you learn from each job can be applied to future jobs—insight that will help you be more",p:5,x:270,y:524,w:622,h:16},
{t:"proftable next time. ",p:5,x:270,y:545,w:123,h:16},
{t:"5",p:5,x:74,y:562,w:125,h:262},
{t:"Understand the Proft Cycle",p:5,x:269,y:642,w:371,h:34},
{t:"Take Away… ",p:5,x:270,y:1101,w:95,h:18},
{t:"Proftability depends on your ability to produce better business results in four different areas: 1) estimate more ",p:5,x:270,y:1124,w:669,h:16},
{t:"accurately, 2) fnish jobs faster , 3) implement construction-specifc acounting proceses, and 4) refne job costing.",p:5,x:270,y:1145,w:676,h:16},
{t:"4",p:5,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:5,x:62,y:1246,w:320,h:13},
{t:"6",p:6,x:82,y:0,w:125,h:262},
{t:"Defne Goals and Set Expectations",p:6,x:270,y:80,w:466,h:34},
{t:"You may wish to take some time to seriously consider and defne your goals for your business. This will be your ",p:6,x:270,y:199,w:678,h:16},
{t:"roadmap to follow. Once you’ve defned your own goals, then you’re in a good position to guide your employees’ ",p:6,x:270,y:219,w:689,h:16},
{t:"and clients’ expectations and behavior to serve your vision and theirs. ",p:6,x:270,y:239,w:427,h:17},
{t:"Defne Goals. Really take some time to consider what you want to achieve in your business. Do you defne ",p:6,x:270,y:282,w:657,h:17},
{t:"success by your bottom line? By company growth? Spending more time with family? Here are some important ",p:6,x:270,y:304,w:675,h:16},
{t:"things to keep in mind as you defne success.",p:6,x:270,y:324,w:277,h:16},
{t:"Too many companies defne success in the short-term —an error that may ultimately damage your business. ",p:6,x:270,y:366,w:659,h:16},
{t:"An emphasis on long-term planning and r",p:6,x:270,y:387,w:252,h:16},
{t:"elationships over short-term gains will help ensur",p:6,x:530,y:387,w:295,h:16},
{t:"e the ongoing ",p:6,x:836,y:387,w:90,h:16},
{t:"success of your company. ",p:6,x:270,y:408,w:163,h:16},
{t:"We recommend some practical ways to defne your goals that include use of a mission statement and complete",p:6,x:270,y:450,w:677,h:16},
{t:"business plans. Crafting a mission statement will help you systematically identify your values, your focus and ",p:6,x:270,y:471,w:660,h:16},
{t:"what you hope to achieve. Business plans, on the other hand, require you to set realistic, detailed long-term ",p:6,x:270,y:492,w:657,h:16},
{t:"management, fnancial and marketing goals and enable you to measure your success against them. ",p:6,x:270,y:512,w:609,h:17},
{t:"Set Expectations. Setting expectations will infuence the behavior of your clients and your employees and result in ",p:6,x:270,y:554,w:687,h:17},
{t:"more productive, long-term r elationships. Consequently , you will be in a better position to achieve your own goals.",p:6,x:270,y:576,w:683,h:16},
{t:"Clients. Repeat clients and referrals not only reduce your marketing expenses, but can dramatically increase ",p:6,x:270,y:617,w:664,h:17},
{t:"your business volume and pr",p:6,x:270,y:639,w:175,h:16},
{t:"oftability.  That’s why it’s so important to set expectations to infuence your",p:6,x:451,y:639,w:458,h:16},
{t:"customer’s view of your work.",p:6,x:270,y:659,w:181,h:16},
{t:"Here are some important tips for setting expectations:",p:6,x:270,y:694,w:328,h:16},
{t:"Your clients need to know in advance that it’",p:6,x:283,y:714,w:268,h:16},
{t:"s typical to have additional costs 10% to 25% mor",p:6,x:558,y:714,w:306,h:16},
{t:"e than the  ",p:6,x:872,y:714,w:70,h:16},
{t:"original contract from change orders. A client who has a realistic expectation of change orders and resulting ",p:6,x:283,y:735,w:657,h:16},
{t:"costs will be far more willing to work with you during the job—and pay for the additional work you do.",p:6,x:283,y:756,w:614,h:16},
{t:"Don’t forget to ask for referrals. Use your company signs at each job. Inform the neighbors that you’ll be working in ",p:6,x:283,y:777,w:677,h:16},
{t:"the area. Use each contact as an opportunity to do dir",p:6,x:283,y:798,w:328,h:16},
{t:"ect marketing for your business.",p:6,x:601,y:798,w:195,h:16},
{t:"Sometimes, as diffcult as it is, you may need to fr",p:6,x:283,y:819,w:304,h:16},
{t:"e a bad client. Miserable clients, who have unr",p:6,x:569,y:819,w:281,h:16},
{t:"ealistic expectations,",p:6,x:833,y:819,w:126,h:16},
{t:"make for unsatisfactory and highly unproftable jobs.",p:6,x:283,y:839,w:316,h:16},
{t:"Employees. Your employees also need to know your goals and expectations. Employees who have shared goals ",p:6,x:269,y:880,w:694,h:17},
{t:"will be more effective in performing their jobs. Sharing pr",p:6,x:269,y:902,w:343,h:16},
{t:"ofts can go a long way towar d creating shared vision ",p:6,x:620,y:902,w:335,h:16},
{t:"and goals. Find out what makes each of your employees happy—better wages? increased responsibilities? fewer ",p:6,x:269,y:923,w:691,h:16},
{t:"work hours?—and use that information as you work with them. Some employees are content to do the same job ",p:6,x:269,y:944,w:688,h:16},
{t:"year in and year out. Others look for additional responsibility. Let your employees know what advancement path ",p:6,x:269,y:964,w:681,h:16},
{t:"is available to them—and encourage them to succeed at it. ",p:6,x:269,y:985,w:363,h:16},
{t:"Employees are far more satisfed when they are held accountable for tasks they can control. Be clear about  ",p:6,x:269,y:1027,w:658,h:16},
{t:"who is responsible for what, and then hold those individuals accountable. For example, it is diffcult to make the ",p:6,x:269,y:1048,w:679,h:16},
{t:"bookkeeper responsible for coding invoices to the corr",p:6,x:269,y:1069,w:328,h:16},
{t:"ect cost codes if he or she is not the pr",p:6,x:589,y:1069,w:238,h:16},
{t:"oject manager",p:6,x:819,y:1069,w:87,h:16},
{t:".",p:6,x:902,y:1069,w:3,h:16},
{t:"Take Away… ",p:6,x:269,y:1115,w:95,h:18},
{t:"Each job is unique but it’",p:6,x:269,y:1138,w:149,h:16},
{t:"s important to remember that there are many similarities in ever",p:6,x:413,y:1138,w:383,h:16},
{t:"y project you undertake,",p:6,x:783,y:1138,w:146,h:16},
{t:"and that what you learn from each job can be applied to future jobs—insight that will help you be more",p:6,x:269,y:1159,w:622,h:16},
{t:"proftable next time. ",p:6,x:269,y:1181,w:123,h:16},
{t:"5",p:6,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:6,x:62,y:1246,w:320,h:13},
{t:"7",p:7,x:82,y:0,w:125,h:262},
{t:"Create Performance Rewards",p:7,x:270,y:80,w:395,h:34},
{t:"Money isn’t the be-all and end-all of motivation…but it certainly helps! Cr",p:7,x:270,y:199,w:439,h:16},
{t:"eating performance r ewards for your ",p:7,x:695,y:199,w:217,h:16},
{t:"employees will motivate them to watch out for the bottom line. Her",p:7,x:270,y:220,w:404,h:16},
{t:"e are three good ways to get started:",p:7,x:660,y:220,w:223,h:16},
{t:"Setting proft-sharing goals based upon job responsibilities will help your employees feel in control over their ",p:7,x:270,y:264,w:656,h:16},
{t:"contribution. Field personnel, for example, could be measured on job costs against budget, while offce staff ",p:7,x:270,y:285,w:659,h:16},
{t:"could be rewarded for decreased overhead costs. ",p:7,x:270,y:307,w:307,h:16},
{t:"Establish a range for bonuses. Setting a pr",p:7,x:270,y:350,w:258,h:16},
{t:"e-determined per centage for all employees does not allow you to r",p:7,x:516,y:350,w:399,h:16},
{t:"eward ",p:7,x:901,y:350,w:40,h:16},
{t:"exemplary behavior",p:7,x:270,y:372,w:118,h:16},
{t:". Employees will then have pocketbook feedback on how their work is viewed and evaluated.",p:7,x:381,y:372,w:564,h:16},
{t:"Just because someone works really hard doesn’t mean they are working well. We all know the person who ",p:7,x:270,y:415,w:652,h:16},
{t:"stays late every night and works every weekend, yet never seems to get all the work done. Don’t be fooled by ",p:7,x:270,y:437,w:669,h:16},
{t:"effort—instead, look at each employee’s results.",p:7,x:270,y:459,w:291,h:16},
{t:"Good training can improve process and proftability, which is why it’s crucial to remember that the right training ",p:7,x:270,y:760,w:672,h:16},
{t:"is an investment, not an expense. ",p:7,x:270,y:782,w:208,h:16},
{t:"Why? Because replacing employees is expensive. Studies show that the costs associated with advertising,",p:7,x:270,y:825,w:651,h:16},
{t:"interviewing time and training can add up to almost half of that employee’",p:7,x:270,y:847,w:445,h:16},
{t:"s annual wages. The bottom line?",p:7,x:726,y:847,w:205,h:16},
{t:"You want to keep good employees right where they are—working for you. ",p:7,x:270,y:868,w:451,h:16},
{t:"Education helps everyone. Encourage your employees to look for sour",p:7,x:270,y:912,w:426,h:16},
{t:"ces of training and lear ning opportunities. ",p:7,x:682,y:912,w:246,h:16},
{t:"It’ s also important that your employees understand the hidden costs of doing business. It’s well worth the time it ",p:7,x:270,y:955,w:682,h:16},
{t:"takes to educate them. They must understand that when you pay them $22/hr. and bill their services at $60/hr., ",p:7,x:270,y:977,w:680,h:16},
{t:"you are not taking $38 dollars out of their pockets. Explain how an employer must pay workers’ compensation ",p:7,x:270,y:998,w:674,h:16},
{t:"(which can be $0.60 for every $1 in wages in some states), payroll taxes, half of FICA, social security, and health ",p:7,x:270,y:1020,w:683,h:16},
{t:"insurance for example. The more they know, the more satisfed they’ll be.",p:7,x:270,y:1044,w:443,h:16},
{t:"Take Away… ",p:7,x:270,y:500,w:95,h:18},
{t:"Be fexible in your approach to establishing employee performance awards. Make ever",p:7,x:270,y:523,w:523,h:16},
{t:"y reward proportionate to",p:7,x:776,y:523,w:154,h:16},
{t:"the results achieved—not the effort expended.",p:7,x:270,y:545,w:281,h:16},
{t:"8",p:7,x:80,y:562,w:125,h:262},
{t:"Train Good Staff",p:7,x:270,y:642,w:217,h:34},
{t:"Take Away… ",p:7,x:270,y:1085,w:95,h:18},
{t:"Try to remember what you knew when you started out. If only someone had taught you all that you know",p:7,x:270,y:1108,w:635,h:16},
{t:"now, success would have come that much sooner. It’s the same with your employees; learning easier, more ",p:7,x:270,y:1130,w:656,h:16},
{t:"effective ways to do their work will increase job satisfaction and help you all work toward achieving the shared ",p:7,x:270,y:1151,w:669,h:16},
{t:"goal of proftability.",p:7,x:270,y:1173,w:112,h:16},
{t:"6",p:7,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:7,x:62,y:1246,w:320,h:13},
{t:"9",p:8,x:80,y:0,w:125,h:262},
{t:"Create Written Procedures",p:8,x:270,y:80,w:354,h:34},
{t:"Written procedures within a company ar e key to business pr",p:8,x:270,y:199,w:355,h:16},
{t:"oftability . T ypically , companies cr eate written pr ocedures ",p:8,x:619,y:199,w:331,h:16},
{t:"only after they lose money because something wasn’t done right. The better way is to create written procedures ",p:8,x:270,y:219,w:683,h:16},
{t:"ahead of time and avoid the failures altogether. ",p:8,x:270,y:240,w:287,h:16},
{t:"Written procedures will provide a roadmap to new employees on how and when to do their work. Defned",p:8,x:270,y:283,w:647,h:16},
{t:"procedures will save you time and money and will increase your proftability—not to mention save you training ",p:8,x:270,y:304,w:667,h:16},
{t:"dollars. Consider these examples: ",p:8,x:270,y:324,w:209,h:16},
{t:"It only takes one instance of an incomplete lien r",p:8,x:270,y:367,w:292,h:16},
{t:"elease to understand how much money you can lose. Each state has",p:8,x:540,y:367,w:420,h:16},
{t:"different laws, and you must know the laws that af",p:8,x:270,y:388,w:301,h:16},
{t:"fect you so that you can pass the knowledge along to your employees.",p:8,x:549,y:388,w:430,h:16},
{t:"‘Internal contr ols’ is an accounting practice that can limit the risk of embezzlement. The bank statement must be",p:8,x:270,y:430,w:677,h:16},
{t:"opened by the owner",p:8,x:270,y:451,w:129,h:16},
{t:". And someone other than the bookkeeper should r",p:8,x:393,y:451,w:312,h:16},
{t:"econcile the statement each month.",p:8,x:691,y:451,w:218,h:16},
{t:"Since so much money is at risk on change orders, it is essential to have a good change order management ",p:8,x:270,y:494,w:654,h:16},
{t:"procedure to ensure change orders are as proftable as they should be. Have written pr",p:8,x:270,y:514,w:539,h:16},
{t:"ocedures for how ",p:8,x:819,y:514,w:114,h:16},
{t:"each change order is started, completed and billed. Collecting time cards daily is essential to measuring your ",p:8,x:270,y:535,w:664,h:16},
{t:"employees’ productivity. Remember that a weekly time card due on Monday morning will typically be flled out  ",p:8,x:270,y:556,w:672,h:16},
{t:"all at once on Monday morning—and will probably not be accurate.",p:8,x:270,y:577,w:409,h:16},
{t:"Create a system that tracks the expiration of your subcontractors’ workers’ compensation. Why? Because ",p:8,x:270,y:619,w:650,h:16},
{t:"if you pay a sub without it, you will be held liable for those dollars. Consider the story of the contractor who ",p:8,x:270,y:639,w:651,h:16},
{t:"verifed liability coverage before the subcontractor started the job, but by the time it came to paying the sub, ",p:8,x:270,y:660,w:658,h:16},
{t:"the policy had expired. The result: the contractor had to pay large sums of money to cover the sub.",p:8,x:270,y:680,w:602,h:17},
{t:"On most projects, there are several groups with whom you need to maintain regular contact. Depending upon ",p:8,x:270,y:1003,w:670,h:16},
{t:"which group you fall into, these might be clients, general contractors or builders, subcontractors, employees, ",p:8,x:270,y:1024,w:664,h:16},
{t:"bonding agents, architects, engineers and inspectors. When you make communication with the various gr",p:8,x:270,y:1046,w:640,h:16},
{t:"oups ",p:8,x:898,y:1046,w:33,h:16},
{t:"involved with your pr",p:8,x:270,y:1068,w:125,h:16},
{t:"ojects your top priority",p:8,x:401,y:1068,w:135,h:16},
{t:", you greatly incr ease the likelihood of having successful and",p:8,x:543,y:1068,w:371,h:16},
{t:"proftable projects. ",p:8,x:270,y:1088,w:116,h:17},
{t:"Take Away…",p:8,x:271,y:724,w:91,h:17},
{t:"Procedures can and should change and improve. They should be evaluated and reworked at regular inter",p:8,x:271,y:747,w:639,h:16},
{t:"vals, at ",p:8,x:890,y:747,w:45,h:16},
{t:"least every six months —and then be documented in a written form that will bring clarity to ever",p:8,x:271,y:768,w:569,h:16},
{t:"y business activity",p:8,x:826,y:768,w:109,h:16},
{t:". ",p:8,x:930,y:768,w:7,h:16},
{t:"Written procedures will help your business reduce risk, save money and be more proftable.",p:8,x:271,y:790,w:554,h:16},
{t:"10Communicate",p:8,x:22,y:807,w:436,h:262},
{t:"7",p:8,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:8,x:62,y:1246,w:320,h:13},
{t:"Communication with your employees, for example, is both valuable and necessary. Having regular staff ",p:9,x:270,y:115,w:627,h:16},
{t:"meetings and recognizing and rewarding good work will help keep the lines of communication open. But ",p:9,x:270,y:137,w:637,h:16},
{t:"be careful — you must also value your employees’ time by making staff meetings both short and powerful. ",p:9,x:270,y:159,w:649,h:16},
{t:"Remember, too, that employees will often assume the worst when they ar",p:9,x:270,y:180,w:445,h:16},
{t:"e not informed. Job security cr",p:9,x:702,y:180,w:186,h:16},
{t:"eates ",p:9,x:881,y:180,w:36,h:16},
{t:"commitment among your employees, which in turn, can lead to greater proftability. ",p:9,x:270,y:202,w:506,h:16},
{t:"To improve communications with various parties outside of your company, you should develop a system for ",p:9,x:270,y:245,w:654,h:16},
{t:"producing and documenting pr ofessional-looking r eports and notices. Pr oviding documented r eports, including ",p:9,x:270,y:267,w:655,h:16},
{t:"approved change orders, bonding reports, job cost summaries, subcontractor notices, and lien releases will ",p:9,x:270,y:289,w:657,h:16},
{t:"provide clear communication and prevent against any misunderstandings long after the job is completed.",p:9,x:270,y:310,w:637,h:16},
{t:"Take Away…",p:9,x:270,y:355,w:91,h:17},
{t:"Good communication during a project with all parties involved may lead to strong relationships even after the",p:9,x:270,y:378,w:659,h:16},
{t:"project has ended and may frequently result in new referral business.",p:9,x:270,y:400,w:418,h:16},
{t:"8",p:9,x:953,y:1246,w:6,h:13},
{t:"10 Steps To Building a More Proftable Construction Business",p:9,x:62,y:1246,w:320,h:13},
{t:"Call 800-726-6278 for a free, no obligation demonstration of Sage Master Builder or ",p:9,x:268,y:502,w:552,h:17},
{t:"visit us online at www.sagemasterbuilder.com.",p:9,x:268,y:523,w:309,h:17},
{t:" 0807  08-50318",p:9,x:864,y:1265,w:61,h:9},
{t:"© 2008 Sage Software, Inc. All rights reserved. The Sage Software logo and the Sage Software product and service names ",p:9,x:463,y:1232,w:460,h:11},
{t:"mentioned herein are registered trademarks or trademarks of Sage Software and its affiliated entities. All other trademarks ",p:9,x:463,y:1247,w:458,h:11},
{t:"are the property of their respective owners.",p:9,x:463,y:1262,w:152,h:11},
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