Whether you're just getting started or have been bidding jobs and meeting payroll for years, this practical manual will suggest unique ways to overcome your most persistent problems - getting through a debt crisis: what to do when bills can't be paid, finding money and buying time, conserving income, transferring debt, handling creditors, choosing assets to liquidate, setting payment priorities, cash float techniques, alternatives to bankruptcy, dealing with lawsuits, judgments and liens and laying the foundation for recovery. You won't find conventional advice in this book. Instead, expect to learn what's really needed to survive, stabilize and thrive as a construction contractor.

Contents

Part One - Surviving, 5

Chapter 1 - Which Way Is Up?, 7
How bad is it - really?, 8
Transferring debt, 11
You can't make it up on volume,12
Finding a group and regrouping, 13
How long in? How long out?, 15
Being threatened with lawsuits, 17
Debt organization and priorities, 18
Too little debt, 22
Collection agencies and your credit rating, 23
Trading services and working off debts, 26
Summary, 26

Chapter 2 - Finding Money and Buying Time, 29
Finding money, 29
Buying time, 38
Summary, 52

Chapter 3 - Got That Sinking Feeling?, 55
Bankruptcy and legal process, 55
Alternatives to filing for bankruptcy, 66
Foreclosures, 78
Mechanic's, contractor's and construction liens, 78
Summary, 80

Chapter 4 - One Problem at a Time, 83
Your home, your home phone and your privacy, 83
Time off, 85
Employees, 85
Summary, 86

Part Two - Stabilizing, 89

Chapter 5 - Bring Some Sanity to Your Business, 91
Understanding what business you're in, 92
The basics of construction contracting, 93
A word about profits, 96
Coping with recessions, 97
Cash flow, conserving income and avoiding debt, 107
Summary, 109

Chapter 6 - Who's Minding the Store?, 111
Accounting using a computer, 111
People aspects of the accounting system, 129
Summary, 147

Chapter 7 - Who, Me Work?, 149
Sole proprietor or partnership, 150
Job supervision and your foreman, 152
Expecting the unexpected, 155
Losing time, 161
Risk management, 163
The labor relations board, 165
Summary, 167

Chapter 8 - The Equipment Payment's Past Due, 169
Capital-intensive contractors, 170
Paper contractors, 172
Doing your own work, 173
Equipment maintenance, 174
How many jobs in how many hours?, 175
Growing the business, 178
Profits as a measure of success, 179
Your working radius, 182
Summary, 183

Chapter 9 - So You Can't Find a Job?, 185
Maybe you're a lousy salesman, 185
Repeat business, 187
Promotion and public relations, 190
Customer leads, 194
Credit checks, 202
Where's the money coming from?, 203
Summary, 205

Part Three - Thriving 207

Chapter 10 - Your Purpose and Goals, 209
Goal setting, 209
A realistic look at retirement, 215
Your work and your company,217
The family-run company, 220
Summary, 221

Chapter 11 - Go Where the Money Is, 223
What goes up may not come down, 224
Their buck vs. your buck, 228
The limited partnership, 230
Cash is king, 235
Staying power and reserves, 236
Summary, 238

Chapter 12 - Over-Design, Under-Design and No Design, 239
Architects and engineers, 239
The design process, 240
Zoning and permits, 241
Planning and building departments, 244
Plans and specifications, 246
Building codes, 248
Summary, 251

Chapter 13 - Second, for the Third Time, 253
Are you sure you're in the right business?, 253
If bid you must .. , 255
Negotiated fees and design-build contracts, 259
Accurate estimating, 261
Overhead,269
Financing and carrying your client, 274
Scheduling, 277
Contracts,280
Summary, 281

Chapter 14 - Investing in Inflation, 283
Buying and investing in property, 284
Trading property, 284
Investing in your projects, 289
In summary, 294

Appendices
Appendix 1 - Blank Forms, 299
Appendix 2 - Creating an Income versus Expense Graph, 315
Appendix 3 - Minutes-to-Hundredths-of-an-Hour Conversion Chart, 325

Index, 327