Construction and Contracting Business. Entrepreneur magazine
R
rapid growth pitfalls, 106–107, 120
record keeping, 42, 43–45, 53, 57, 64, 113–114
relatives and friends as financing source, 30
replacement cost insurance, 40
requirements for professional fields, 10–11
retaining employees, 115–116
retirement plans, 113
revenue and expense tracking, 91–95
revenues vs. spending, 66–67
reviews on social media sites, 103, 121
risk planning, 28
rules and regulations, 55–56
S
safety, 8
safety considerations in construction, 8
sales per labor dollar, 75–77, 94–95
savings accounts, 57
SBA loans, 32–33
seasonality of the construction business, 60
self-promotion, 102–103
skills and traits for success, 9–10, 12–14, 19–22, 57–60, 121, 130–135
Small Business Association (SBA) loans, 32–33
small business tax credits, 43
SmartDraw organizational chart software, 117
smartphones, 51–52
social media presence, 101–102, 103, 121, 125
social security taxes, 68
software upgrades, 64
sole proprietorship, 36, 37–38
specialty trade contractors, 4
spending vs. revenues, 66–67
sponsoring local sports teams, 104
spreadsheets, 64–65
starting a construction business
customer loyalty and, 6
finding a niche, 6
funding a startup, 17–18
having the right tools, 16–17, 55
health considerations, 13