Bidding made better with go/no-go analysis

To bid or not to bid? For contractors, this is always the question. When times are tough, you may be tempted to bid on anything and everything. During a more stable economic climate, however, you can and perhaps should be as selective as possible. How to make this critical decision is the question beneath the […]

Facilitating a smooth independent audit

Few of us enjoy taking tests, and unfortunately that’s what independent audits sometimes feel like. Even if you have no reason to be anxious about what your nonprofit’s auditor will find, preparing for and accommodating an audit can be stressful for you and your staff. But if you understand what the process entails and ensure […]

Improve your bottom line with accurate contract schedules

Tracking the financial minutiae of your contract schedule requires great attention to detail. But do you know what else requires great attention to detail? Construction projects! In the hustle and bustle to win, work on and complete jobs, it’s understandably easy to make accounting mistakes with your contract schedule or to simply lose perspective on […]

5 tips to find and keep event sponsors

Your special event’s attendees are critical to its success. But for any successful fundraiser, individual participants and donors are only half the equation. Corporate sponsors are the other half, whether they’re local businesses, Fortune 500 companies or in-kind service providers. Here are five tips for finding — and keeping — these valuable supporters. Tip #1: […]

Should you outsource HR management?

If your nonprofit organization has too much work and not enough staff to go around, consider outsourcing your human resources function. It could give your internal team more time to spend on other core duties, mission-driven programs and strategic plans. Benefits and drawbacks Labor-intensive responsibilities such as recruiting, training, benefits planning and administration, compliance monitoring, […]

Timekeeping doesn’t have to be a burden

There are several good reasons for nonprofits to make timekeeping a priority — including the requirements of government and private funders. But even if you weren’t obligated to track and allocate employee time, careful timekeeping can make your organization stronger. If your staffers aren’t always enthusiastic about the task, take heart. Newer software helps make […]

Numbers matter: The finer points of your succession plan

When it comes to succession plans, construction company owners often focus on when they intend to leave the business or who will replace them. But, remember, numbers play an important role as well — particularly if you intend to sell the business to help finance your retirement. Obtain an appraisal A business valuation is a […]

What can a valuation expert do for your succession plan?

Most business owners spend a lifetime building their business. And when it comes to succession, they face the difficult decision of whether to sell, dissolve or transfer the business to family members (or a non-family successor). Many complicated issues are involved, including how to divvy up business interests, allocate value and tackle complex tax issues. […]

Three cash flow boosters for your company

Like every contractor, you want to have a good 2017. And this objective should be eminently doable as long as you stay within your strengths, manage your financials carefully and do good work. But why settle for a good year when it could be great? The key, always, is cash flow. The more working dollars […]

Volunteers are a valuable financial asset

How much are your volunteers worth? Independent Sector, a nonprofit advocacy group, has estimated the value of the average American volunteer at $23.56 an hour. Volunteers who perform specialized services — for example, an accountant who volunteers to prepare your nonprofit’s tax return — are, arguably, even more valuable. Whether your entire workforce is unpaid […]