Business Networks

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Monitor warning signs to prevent embezzlement

One of my clients did not recognize a subcontractor's name on his bank statement, so he checked on the sub, reviewed the sub's contracts, and visited jobsites to verify the work. He found no evidence of the sub having done any work. His research revealed that two of his trusted employees were in a partnership to embezzle. The salesperson included the sub's “bid” on the jobs he sold and the production manager approved the work that the sub “did.” The payment was mailed to the subcontracting company that the two owned. This situation caused my client's company to suffer a loss in the six figures in less than 12 months. More

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Tracking expenses with job cost report

Job cost reports provide information that can be used both during construction and after the project is completed. More

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Time Sheets

An estimator anticipates the cost to produce a job, and a carpenter tries to complete that job within the estimate. If owners ask carpenters to turn in timecards on a daily basis, the hours associated with doing specific tasks will be more accurate. More

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Profile: Larry and Elaine Taylor

After nearly 35 years in the industry, Larry Taylor, and his wife and co-owner... More

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Estimating software from Clear Estimates

After 35 years in the remodeling business, Terry Quinn was still using a yellow pad and pen to create homemade estimating spreadsheets. More

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Group Therapy

Erik Anderson of Winston-Salem, N.C., had only been in business for four years when, he says, “I realized I couldn't continue working at this pace. We thought if we worked hard, we'd earn a good living. We were working really hard and we were hitting a brick wall.” That's when he joined one of the NAHB's 20 Clubs for remodelers. More

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Second Look: Gene Peterson

Gene Peterson was named Big50 in 1988, but he received much heavier news in 1997, when doctors discovered he had cancer. CARE reached $2.7 million in volume at its height, in 2000, earning 42% gross and 12% net margins.Business at CARE has tapered off since Peterson first became ill, and key employees have left, with Peterson's encouragement. Fortunately, Peterson should have much more time to help others: His most recent checkup earlier this year showed no cancer. More

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Risk Quotient: Measure the Risk of Growth

One measurement is what Les Cunningham of Business Networks calls the "risk quotient." "It's a lot easier to go upside down with a company that's too big than with a company that's small," says Cunningham. More

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Mold on the Hill

Mold has long been a hot-button issue in the remodeling industry. The bill's sponsor, Rep. John Conyers Jr. (D-Mich.), became interested in the issue after one of his staff members moved into a home that had a mold problem. More

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