Comments on: How can I salvage my construction business? http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/ Editors from FSB magazine answer your pressing small-business questions. Tue, 15 Dec 2009 12:52:55 +0000 http://wordpress.com/ hourly 1 By: Jim Cumming, Stockton, CA http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-1545 Jim Cumming, Stockton, CA Mon, 23 Feb 2009 05:39:18 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-1545 It is hard to answer without some details about why this co. is about to go under. Lack of work? Lack of captial? Lack of business skills? We specialize in the Business Side of the construction business, and while we cannot work miracles, we can give reasonable suggestions to keep thing afloat until the market returns It is hard to answer without some details about why this co. is about to go under. Lack of work? Lack of captial? Lack of business skills? We specialize in the Business Side of the construction business, and while we cannot work miracles, we can give reasonable suggestions to keep thing afloat until the market returns

]]> By: Bobby Anderson, Austin, TX http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-474 Bobby Anderson, Austin, TX Wed, 12 Mar 2008 18:31:19 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-474 I have helped many small businesses in the construction/building industry effectively grow their company by qualifying to do business with the US Government and their Prime Contractors. You can find my website at http://www.path-finder.com I have also published a book named “The Building Industry’s Guide to Working with the US Government – 2008 Small Business Edition” I have laid out everything you must do and the people you will need to speak with. I have helped many small businesses in the construction/building industry effectively grow their company by qualifying to do business with the US Government and their Prime Contractors. You can find my website at http://www.path-finder.com

I have also published a book named “The Building Industry’s Guide to Working with the US Government – 2008 Small Business Edition”

I have laid out everything you must do and the people you will need to speak with.

]]> By: T. LeFever, Greensboro, NC http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-222 T. LeFever, Greensboro, NC Tue, 20 Nov 2007 15:16:35 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-222 This latest by "BT" is not advice for this builder, or others in his situation, but a diatribe of some sort.???. Be professional and give us some coherent comments about how you got to be a successful business owner, not randomness about how good you are or bad he is because you and your family were smart (or lucky) enough to stay in business for 113 years. Help him. This latest by "BT" is not advice for this builder, or others in his situation, but a diatribe of some sort.???. Be professional and give us some coherent comments about how you got to be a successful business owner, not randomness about how good you are or bad he is because you and your family were smart (or lucky) enough to stay in business for 113 years.

Help him.

]]> By: B.T. http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-218 B.T. Thu, 15 Nov 2007 19:32:47 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-218 PS - I DONT WANT ANY OF MY TAXES USED TO BAIL OUT THE GREEDY BANKS AND MORTGAGE COMPANIES THAT HAVE ALSO CONTRIBUTED TO THIS MESS. I PAY FOR MY MISTAKES AND IT'S TIME FOR THEM TO AS WELL. PS – I DONT WANT ANY OF MY TAXES USED TO BAIL OUT THE GREEDY BANKS AND MORTGAGE COMPANIES THAT HAVE ALSO CONTRIBUTED TO THIS MESS. I PAY FOR MY MISTAKES AND IT'S TIME FOR THEM TO AS WELL.

]]> By: B. T. http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-217 B. T. Thu, 15 Nov 2007 19:29:00 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-217 ACTUALLY HE HAS BEEN PART OF THE PROBLEM, CONTRIBUTING TO THE OVERBLOWN HOUSING INDUSTRY, THE HIRING OF ILLEGALS, AND THE OVERSUPPLY OF HOUSING. NOT ITS TIME TO PAY FOR HIS PREVIOUS PAY. DID HE SAVE ANY MONEY? OR ARE WE TAXPAYERS GOING TO BAIL HIM OUT THROUGH ANOTHER BANKRUPTCY AND PAY OFF ALL HIS CREDIT CARD DEBT? IM TIRED OF PAYING FOR EVERYONE ELSES EXTRAVAGANCES. WONDER HOW BIG HIS HOUSE IS AND HIS FAMILY INSIDE IT? ITS TIME WE PLAY CATCH UP AND START PAYING OFF THE DEBT PEOPLE LIKE THIS GUY HAS CREATED. I STARVE MYSELF DURING THE GOOD TIMES TO SAVE FOR THE BAD. IM IN A 113 YEAR OLD FAMILY CONSTRUCTION BUSINESS CONTINUING ON IN OKLAHOMA. ACTUALLY HE HAS BEEN PART OF THE PROBLEM, CONTRIBUTING TO THE OVERBLOWN HOUSING INDUSTRY, THE HIRING OF ILLEGALS, AND THE OVERSUPPLY OF HOUSING. NOT ITS TIME TO PAY FOR HIS PREVIOUS PAY. DID HE SAVE ANY MONEY? OR ARE WE TAXPAYERS GOING TO BAIL HIM OUT THROUGH ANOTHER BANKRUPTCY AND PAY OFF ALL HIS CREDIT CARD DEBT? IM TIRED OF PAYING FOR EVERYONE ELSES EXTRAVAGANCES. WONDER HOW BIG HIS HOUSE IS AND HIS FAMILY INSIDE IT? ITS TIME WE PLAY CATCH UP AND START PAYING OFF THE DEBT PEOPLE LIKE THIS GUY HAS CREATED. I STARVE MYSELF DURING THE GOOD TIMES TO SAVE FOR THE BAD. IM IN A 113 YEAR OLD FAMILY CONSTRUCTION BUSINESS CONTINUING ON IN OKLAHOMA.

]]> By: JSR Kingsland, Ga http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-215 JSR Kingsland, Ga Wed, 14 Nov 2007 01:37:14 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-215 Talk to your nearest George S May Int'l Co. representative. 1-800-999-3020. Those guys are small business specialist with a great track record of setting small companies straight. Google the name. Talk to your nearest George S May Int'l Co. representative. 1-800-999-3020. Those guys are small business specialist with a great track record of setting small companies straight. Google the name.

]]> By: A. Qaiyum, Frankfort, Illinois http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-211 A. Qaiyum, Frankfort, Illinois Sat, 10 Nov 2007 21:55:05 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-211 Supply, Demand, Price. Reduce price, demand will increase. Supply, Demand, Price.

Reduce price, demand will increase.

]]> By: Travis LeFever Greensboro, NC http://smallbusiness.blogs.cnnmoney.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-206 Travis LeFever Greensboro, NC Fri, 09 Nov 2007 17:06:02 +0000 http://askfsb.blogs.fsb.cnn.com/2007/11/09/how-can-i-salvage-my-construction-business/#comment-206 I am a small specialty contractor, a sub-contractor doing large infrastructure work. While I agree builders looking for Sales during the downturn should broaden their offerings, advising a struggling Construction Company to foray into Infrastructure or Power Plant work as a sub-contractor is incredibly dangerous and ignorant. As he would quickly find out, there are huge barriers to entry, VICIOUS General contractors and owners, and a maze of regulations with which to contend. More sound advice (from an equal) is to first pursue small commercial upfit projects, in which the work is similar (utilize your and your employee's experience), and owners are interested in quality work and personal service, similar to residential construction. Also, capital outlay and administration for these projects will not be as severe as large commercial / industrial projects. Shoot for the stars, but know ALOT about the rocket you're riding before you touch the ignition. Be wary of infrastructure and Power Plant work unless you have a lot of knowledge and financial reserves. Good luck. I am a small specialty contractor, a sub-contractor doing large infrastructure work.

While I agree builders looking for Sales during the downturn should broaden their offerings, advising a struggling Construction Company to foray into Infrastructure or Power Plant work as a sub-contractor is incredibly dangerous and ignorant. As he would quickly find out, there are huge barriers to entry, VICIOUS General contractors and owners, and a maze of regulations with which to contend.

More sound advice (from an equal) is to first pursue small commercial upfit projects, in which the work is similar (utilize your and your employee's experience), and owners are interested in quality work and personal service, similar to residential construction.

Also, capital outlay and administration for these projects will not be as severe as large commercial / industrial projects.

Shoot for the stars, but know ALOT about the rocket you're riding before you touch the ignition. Be wary of infrastructure and Power Plant work unless you have a lot of knowledge and financial reserves.

Good luck.

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