Small Business: Industry: Construction
A father-son company seeks advice on formalizing roles and building a sustainable structure for growth.
James, Miami, Fl.
I am part of a small family-owned drywall contracting company, with previous experience in estimating potential projects. My father is the other half of the company, as he has experience in field work. We have experienced some success already, but I'm looking to create structure in our company and lack the experience to do so. What are the steps that I need to take to create clear-cut roles that I should follow? Do my dad and I need to assign responsibilities that we each stick to? Read more…
David Armstrong, Armstrong Fence Co., Pembroke, Mass
Is there a formula to help me determine how much more costly it is to pay overtime to complete a job the same day vs. going back a second day for a short period of time?
Dave, Gulf Shores, Ala.
I have a full-service plumbing company on the coast. We have 400 active customers and approximately $90,000 worth of assets. Last year's sales were $225,000. I am planning on selling for $210,000. Is that figure reasonable?
Sue, San Jose, Calif.
We are a construction company. A client is giving us a hard time about final payment. The invoices are usually due with in 5 business days. She asked us to wait until the insurance company paid her the final payment then she would pay. I have waited two months and now she is saying that the insurance company did not pay her enough and that she will only pay us what the insurance company sent her. There are extras that she added on that were not insurance related. I am not sure what to do. Maybe we should change our payment terms to require payment before we start the work. What should I do?
How to create an enticing job posting and weed out the weak candidates.
Scott Zimmer, Owner and President, AAA Labor Minneapolis
Where can I find a top-notch sales manager (who would also be the sole salesperson, for now) to help me expand the clientele for my temporary-staffing firm? I'm willing to offer a very competitive pay package, but it's difficult to find skilled, experienced candidates.
A great position in an unpopular industry can be tough to recruit for, but creativity pays off.
Scott, AAA Labor, Minneapolis
I am looking to hire a strategic business manager/growth manager for my 52-year-old, successful industrial staffing agency. I'd love to see them become my COO or VP, and the position will easily become a several-hundred-thousand-dollar-a-year job. Problem is, industrial staffing is looked down upon, much like the garbage or recycling business is. No one seems to want the job. How do I get someone to take the chance?
When a majority owner goes bust, what happens next depends on the terms of the company's operating agreement.
David, CPM LLC, Baton Rouge, La.
If the managing member/majority owner of an LLC files for personal bankruptcy, does that managing member default his ownership shares in the LLC to the other two members? Read more…
A step-by-step guide to finding government contracts and going for them.
Brian Hall, Westerville, Ohio
I’m a veteran and a minority small-business owner. How do I get more information on bidding for government contracts?
FSB’s experts weigh in to help a remodeling firm whose sales have plunged during the economic downturn.
Eric Tolley, Oak Park, Ill.
I have been in the remodeling business for eight years and have built a lot of brand equity in my company – but our sales have dropped 70% in the last two years. I know I don’t have the energy to start over. How do I survive until the economy turns around? Read more…
A one-man business asks, when’s it the right time to get extra help?
Matthew, Clearwater, Fla.
I am a new electrical contractor whose business is starting to grow. I will be turning down work soon if the growth keeps up, but that’s not guaranteed. How do I determine if it is time to hire some help?
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