Many problems can be traced back to the "Halo Effect," which happens when a contractor thinks, "We are so good at (fill in the blank) we should expand into (fill in the blank)."

The most common situation is when a residential remodel contractor with a reputation and a substantial company generating 15% or more profits decides to start building custom homes. Or the opposite, a home builder who decides to branch out into residential remodeling.

Residential Remodel Contractor Building A Home

The processes, tools, equipment, materials, skills, and invoicing procedures required to build a house from the ground up differ entirely from modifying a home with people living there.

 

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Topics: High Profit Construction Projects, High Return On Investment, Clients or Customers, Boost Construction Profitability

Knowing which jobs have the highest probability of success and profit before getting involved moves your construction company from an unpredictable roller coaster to a peaceful merry-go-round.

 

You have what appears to be a high-profit job, and now you think you have it made, and I hope you are right!

 

The problem is that high-profit jobs can turn into low or no-profit jobs. In some cases, they can bankrupt your construction company because you bid on the project using whatever model you are accustomed to using, and in the end, you wind up with cash flow problems.

 

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Topics: High Profit Construction Projects, Profit and Growth Strategies For Contractors, Contractor Guidance, Construction Business Goals

You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right!

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Topics: High Profit Construction Projects