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  • Writer's picturePeter Searle

Business pointers for construction companies

Updated: Jul 31, 2022



Marketing

· Do you know who your most profitable clients are?

· Do you know if they are going to remain a profitable workstream?

· Do you know how to actively find new clients?

· Are you confused by what digital marketeers have told you?


Tendering

· Do you have a bid-no-bid policy?

· Are you sure you are covering your overheads sufficiently?

· Is your mark-up calculated correctly?

· Do you need help with bid writing?

· Do you understand the contracts you are signing up to?

· Are you getting feed-back on your tenders?

· If there is no feedback, are you using the lost tender information to win the next one with the highest price possible?


Commercial

· Are the contracts you are signing up to appropriate?

· Are the contract risks being managed?

· Are you risk assessing your clients for payments?

· Do you have systems for capturing records of work done?

· Do you have processes for capturing changes to the scope of works?

· Are you able to check profitability of projects as they progress?

· Are you aware of how you would deal with an issue via the contract?


Accounts

· Does your accountant explain your accounts to you?

· Do you have separate management accounts?

· Is your pay allocated to specific activities?

· Do you do cost verses income comparisons for projects?

· Do you know if the work in progress is correct?

· Are your overheads going up or not?

· Do you know how much you can afford to invest in new resources?

· Do you have a forecast?

· Do you have a system for chasing payments?


Staff

· Do you and all the staff have a job description?

· Is there a roles and responsibilities chart?

· Is staff performance discussed with them?

· Are their capabilities addressed?

· Is time management an issue?

· Are duties delegated efficiently?

· Is recruitment an issue?

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