Plan To Profit: Business Planning for Builders and Remodelers
Few builders or remodelers would attempt a project without a plan, but they manage their companies without one. A survey of NAHB Builder and Remodeler members revealed less than 12% had a written business plan, less than 15% had operating budgets, less than 18% had mission statements, and almost 70% had no formal planning procedures. Chuck’s book, “Plan To Profit: Business Planning for Builders and Remodelers” provides a blueprint for writing a working business plan starting with market research and analysis, followed by product and services, marketing and sales, operations, staffing, goals and action plans, financial forecasts and budgets, vision, mission, core values, and unique selling proposition.
Alternative Dispute Resolution
It is virtually impossible to complete a construction project of any size without a few disputes developing. Most are minor, but some may be of more importance involving greater amounts of money. How well you are prepared to handle disputes may very well determine whether you will make a profit. Litigating construction cases is extremely expensive. Even the smallest of construction cases with the most cost-conscious legal counsel will run $300,000. The cost of litigation often forces contractors and owners to settle meritorious claims not based on entitlement, but because of attorneys’ fees. Alternative Dispute Resolution (ADR) describes the common methods of ADR, their benefits, and how to incorporate ADR provisions in your contracts.
Idaho Contractor Registration Common Violations
If you are a contractor in Idaho, then you are probably aware that state law requires you to registered with the Idaho Contractors Board. But are you aware of the Board’s authority to investigate and take disciplinary action against you when they receive a a written complaint against you from one of your clients, subcontractors, or suppliers? The Board is required to investigate every complaint they receive. If their investigation reveals that the facts alleged or received are sufficient to proceed with a formal action, they have the authority to take disciplinary action against you including issuing an informal letter of reprimand, issue a formal reprimand, suspending or revoking your registration, and imposing a civil penalty in an amount not to exceed one thousand dollars ($1,000) plus the costs and fees incurred in investigating the complaint and, depending on the severity of the case, prosecuting you in court.
It is your responsibility to know the laws, rules and regulations regarding contracting and they aren’t limited to compliance with building codes.
I have worked with the Idaho Contractors Board since 2008 as an advisor and expert witness reviewing complaints against contractors and providing written opinions regarding the techniques, practices, conduct, quality of the services provided, ethical appropriateness of the client/professional relationship, and any violations of violation of public laws, ordinances or rules of State or any subdivision thereof, relevant to contracting or the Board’s rules and code of ethics.
I prepared the following video to communicate the most common violations.