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Humans are alone in the animal kingdom in their unwillingness to grasp the concept of sunk costs. We would rather throw good money after bad to the point of ruin rather than acknowledge an error. How do you figure out if a situation is untenable, and how do you know when to walk away?
I used to think of “synergy” as one of those trendy words overused by motivational speakers and athletes. Lately, however, I'm discovering how synergy — multiple parts working in combination — can be profitable for a remodeling organization.
For the past 18 months I have been able to step outside the system. I sold my company — Traditional Concepts, a high-end design/build firm on Chicago's North Shore —and have remained working as a sales consultant.
For this architect, venturing into the design/build arena offers professional satisfaction.
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Banking and lending institutions have government requirements mandating that they give back to the community. Remodelers have enough laws to conform to that they don't need to be
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Remodeling is inherently a sustainable business: existing homes are repaired, expanded, and upgraded rather than demolished and rebuilt. Reusing structural and finish materials reduces the impact on limited landfills.
Our industry is predominantly composed of men. Although an increasing number of women are entering the profession in various capacities, they are significantly outnumbered. And just as Peter comes to rely on Wendy for stability and nurturing, many remodelers have a Wendy on staff who holds things...
Selling is one of the least understood practices of communication. Many people are deluded or simply misunderstand the selling process, frequently assessing it as manipulation, chicanery, or worse. After years of researching sales in the remodeling industry, and after having examined hundreds of...
Do you dream of leaving your company to a family member or a trusted employee? Possibly you're interested in selling your company outright, or perhaps you want to establish a company that can run without your everyday attention. If one of these is your goal, then the question is: What risks are you...
There's no avoiding dust in a remodeling project, and with the pressure of possible litigation and liability claims, regulations, and customer demands, you need a way to control it. Remodelers can't be concerned with just dust, though; they're also responsible for protecting workers and customers...