Category Archive: Business Tips/Strategies

Jul 11

DOL New Overtime Regulations

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DOL New Overtime Regulations Are the DOL new overtime regulations stressing you out? Relax, you have a few months to prepare.  The new regulations go into effect December 1, 2016. You have probably heard that the new regulation significantly increases the minimum salary for employees that are classified as white collar and highly compensated, exempt …

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Jul 05

How Long Is It Going To Last

How Long Is It Going To Last? Bid requests are rolling in, contracts are being signed and backlog is finally notable. The year started with good predictions and hasn’t disappointed. Dodge Data & Analytics’ 2016 Construction Outlook report predicted 6% growth, with the value of construction starts reaching an estimated $712 billion. Distributors are busy, …

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Jan 19

Tools of the Trade PL2 Frame Set

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Tools of the Trade PL2 Frame Set Many of the tools that you will read about on this blog I haven’t actually seen used in the field.  The PL2 Frame Set is an exception.   I have seen this tool in action during a job site walk-through scheduled to discover who to blame, the reason …

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May 04

Be a First Responder!

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Are you a First Responder? I am currently listening to the audio version of “Do Over” by Jon Acuff. He mentions the importance of being a “First Responder”. He uses the term first responder to reference answering phone calls and emails the first time someone attempts to reach you. It should be your goal to …

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Apr 24

The Role of a Manufacturer Product Representative

SalesmanExtraordinaire

I ran across this great article on the Long Island CSI chapter website regarding the role of a manufacturer product representative. The author, Ralph Liebing, RA, CSI, CDT, of Cincinnati, OH pays a nice tribute to those in my field.  I was pulled into the article when I read “we professionals need to take some …

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Nov 17

Know Your Bid-Hit Ratio

George Headley

Things are definitely heating up through out my territory. Many of my distributors have more RFQs than they can handle, having to turn some down. It’s a refreshing problem to have to say the least! There is even talk of margins increasing ever so infinitesimally. With the state of the economy still in question it …

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Oct 06

The Dreaded Annual Inventory Count

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The Dreaded Annual Inventory Count Yes, it’s that time of year…again! A lot of my distributors are already dreading the annual counting of inventory. I remember donning old worn out jeans and a t-shirt I would probably never wear again to count thousands of packs of sex nut bolts during my history with Pleasants Contract …

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Sep 29

The Benefits of Commission vs Salary

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The Benefits of Commission vs Salary Many distributors across the nation are seeking to hire employees as a result of the increase in activity in the commercial construction industry.  One glance at the classified section of Doors & Hardware Magazine confirms that there are a lot of opportunities out there. It is refreshing to know …

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Sep 22

Dealing with “Pay If Paid” Clauses

Dealing with “Pay If Paid” Clauses When I first heard of this provision I thought how ridiculously unfair. Sub-contractors and material suppliers are the least able to take the hit of non-payment. I also thought there was no way that they would stand for it.  I still feel the same way on the first count, …

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Sep 15

Subcontractor Bidding Tips

Subcontractor Bidding Tips George Hedley is owner of Hedley Construction and Development, Inc. He started his construction company in 1977 with a pick-up truck and $500 in the bank. He grew his business to $50 million in revenue in seven years. He is one of the top 10 contractors in Southern California. He now shares …

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Sep 08

Improving Your Gross Profit Margin pt 2

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IMPROVING YOUR GROSS PROFIT MARGIN pt 2 Last week I shared my intent to post articles each Monday morning focused on the business part of your business. I kicked off the series by sharing part one of a two part article by Jason Bader, the managing partner of The Distribution Team. I continue last week’s theme …

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Sep 01

Improving Your Gross Profit Margin

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IMPROVING YOUR GROSS PROFIT MARGIN After a discussion with a few of my customers about what might be useful to distributor owners and managers, I decided to dedicate Mondays to the business side of your business.  Topics like improving gross margin, cash vs accrual accounting, managing inventory, retaining employees, etc will be featured.  I have …

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