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Contents

Construction and Contracting Business

Preface

Chapter 1

The Contracting Industry

The Players

Economic Importance

Wrap-Up

Chapter 2

Why Become a Contractor?

Contractors Are Important to Their Communities

Do You Have What It Takes?—Part I

Do You Have the Proper Background?

Formal Education

On-the-Job Training (OJT)

Lloyd Price

Discipline and Determination

Self-Confidence

Good Health

Excellent Time Management Skills

Do You Have What It Takes?—Part II

Continuing Education

Tools

Learn the Lingo

Money Issues

Management Expertise

Wrap-Up

Chapter 3

The Business Plan

Business Plan Software

Mission Statement

Financing Your Business

Venture Capitalists

Angel Investors

Debt Financing

Credit Unions

Small Business Association

Wrap-Up

Chapter 4

Law and the G-Man

Business Structure

Accounting Methods

Bankers, Lawyers, Accountants, and Insurance Agents

Coping with the Government

Employees or Subcontractors

Employee Benefits

Health Plans Can Offer Tremendous Benefits

Documentation and Receipts

Wrap-Up

Chapter 5

It’s Moving Day

Open Your Office and Shop

Space: The Next Frontier

Office Specifications and Details

Communications I

Communications II

Communications III

Computers

Office Supplies

Tools and Equipment

The Bureaucracy

Credit Cards

Supplier Credit

Banking

Start Me Up

’Tis the Season

Wrap-Up

Chapter 6

Financial Techniques for Profitability

The Tools to Make a Budget

Accounting Tools

Why Set a Budget?

Costs First

Direct Costs

Fixed Costs

Variable Costs

Overhead

Break-Even Point

Budget Overview

Preparing the Estimate

Profits: The Bottom Line

Wrap-Up

Chapter 7

Contribution Margin and the Impact on Profits

How to Calculate Contribution Margin

The Doctor Is In

Wrap-Up

Chapter 8

Promoting Your Services

Get Your Website up Immediately

Web Layout and Design

Establishing an Online Presence

Self-Promotion

Demographics

Print It!

Word of Mouth

Too Much of a Good Thing?

Wrap-Up

Chapter 9

Get a Job

The Employee Handbook

Applications and Hiring Forms

Job Descriptions

Minors Are Major

Wages and Benefits

Turnover

Organizational Chart

Wrap-Up

Chapter 10

Errors and Omissions

Failure Is Not an Option

Client Complaints

The Nightmare Client

How to Handle Client Complaints

Reliable Suppliers

Know the Enemy

Hiring Subcontractors

Wrap-Up

Chapter 11

PANIC Is Proper

When to PANIC

Let’s PANIC Now

P Is for Perseverance

A Is for Accounting

N Is for Natural Ability

I Is for Instinct

C Is for Communication

But, What If . . .?

Put Me in, Coach

The Beginning

Appendix

Construction Contracting Resources

Books

Construction, Remodeling, and General Contractor Magazine Websites

LinkedIn (www.linkedin.com) Group

Government Resources

General Business Websites

Cellphone Information

Contractor Resources

Listings and Places to Post Your Services

Accounting Software

Find Your Credit Rating

Credit Rating Bureaus

Education/Industry Links

Architecture

Engineering

Construction Industry Associations

Information and Tools

Social Media

Social Media Management

Glossary

Index

Start Your Own Construction and Contracting Business

ON YOUR MARK . . .

PART 1

THINK

CHAPTER 1

Introduction

CHAPTER 2

Taking the Plunge: Get Ready to Be an Entrepreneur

CHAPTER 3

Good Idea!: How to Get an Idea for Your Business

CHAPTER 4

Good Timing: Should You Launch Your Business Part or Full Time?

CHAPTER 5

Build It or Buy It?: Starting a Business vs. Buying One

PART 2

PLAN

CHAPTER 6

Choose Your Target: Defining Your Market

CHAPTER 7

If You Build It, Will They Come?: Conducting Market Research

CHAPTER 8

The Name Game: Naming Your Business

CHAPTER 9

Make It Legal: Choosing a Business Structure

CHAPTER 10

Plan of Attack: Creating a Winning Business Plan

CHAPTER 11

Call in the Pros: Hiring a Lawyer and an Accountant

PART 3

FUND

CHAPTER 12

All in the Family: Financing Starts with Yourself and Friends and Relatives

CHAPTER 13

Nothing Ventured, Nothing Gained: How to Find and Attract Investors

CHAPTER 14

Looking for Loans: The Ins and Outs of Debt Financing

CHAPTER 15

Fed Funds: How to Get Government Loans

GET SET

PART 4

PREPARE

CHAPTER 16

What’s Your Deal?: Negotiating Successfully by Cliff Ennico

CHAPTER 17

Site Seeking: Choosing a Location for Your Business

CHAPTER 18

Looking Good: Creating a Professional Image

CHAPTER 19

Stock Answers: The Lowdown on Inventory

CHAPTER 20

It’s in the Mail: Setting Up Mailing Systems

CHAPTER 21

Charging Ahead: Offering Your Customers Credit

CHAPTER 22

Cover Your Assets: Getting Business Insurance

CHAPTER 23

Staff Smarts: Hiring Employees

CHAPTER 24

Perk Up: Setting Employee Policies and Benefits

PART 5

BUY

CHAPTER 25

Buyer’s Guide: Business Equipment Basics

CHAPTER 26

Business 24/7: Using Technology to Boost Your Productivity

CHAPTER 27

Net Works: Building Your Company Website

CHAPTER 28

Keep in Touch: Using Technology to Stay Connected

GO

PART 6

MARKET

CHAPTER 29

Brand Aid: Building a Brand

CHAPTER 30

Marketing Genius: Advertising and Marketing Your Business

CHAPTER 31

Talking Points: How to Promote Your Business

CHAPTER 32

Sell It!: Effective Selling Techniques

CHAPTER 33

Now Serving: Offering Superior Customer Service

PART 7

ENGAGE

CHAPTER 34

Net Sales: Online Advertising and Marketing

CHAPTER 35

Social Studies: Social Media Marketing

CHAPTER 36

Can You Relate?: Social Media Networking

PART 8

PROFIT

CHAPTER 37

Keeping Score: The Basics of Bookkeeping by J. Tol Broome Jr.

CHAPTER 38

Making a Statement: How to Create Financial Statements by J. Tol Broome Jr.

CHAPTER 39

On the Money: Effectively Managing Your Finances by J. Tol Broome Jr.

CHAPTER 40

Pay Day: How to Pay Yourself

CHAPTER 41

Tax Talk: What You Need to Know About Your Taxes by Joan Szabo

APPENDIX

Business and Government Resources

Glossary

Index