The Subcontractor’s Strategy to Exceed $10M in Revenue: Part 2 – Refine Your Internal Processes
In this 3-part series from Billd, we’ll continue to unpack the strategies that subcontractors can adopt on their way to $10 million or more. To ensure your business is ready for exponential growth, it is essential that you put in place scalable processes for the internal aspects of your business — that is to say, […]
The Subcontractor’s Guide to Exceeding $10M in Annual Revenue: Part 1 – Build Your Financial Game Plan
If you’re growing a subcontracting company, it’s only natural that you have your sights set on hitting 8 figures in revenue. To grow beyond $10M in revenue, subcontractors need to be ambitious, methodical, and above all, consistent about pursuing business growth. In this 3-part series from Billd, we’ll explore how to approach the nuanced decisions […]
2022 National Subcontractor Market Report: How Labor Shortages & Market Volatility are Impacting Subcontractors
Billd has released the second annual National Subcontractor Market Report. Last year’s report honed in on the financial reality of subcontractors. Despite having just emerged from a pandemic, last year’s market conditions were perceptibly calmer — even if financial options were (and always have been) tight. This year told a different story. A volatile market […]
Construction Budgeting: How to Create, Manage & Analyze Project Budgets
Knowing how much you’re going to spend on a construction project, when you’re going to spend it, and what you’re going to spend is critical to the profitability of your business. Your budget on any given construction project should be driving your project’s timeline, and your business’s success. What to include in a construction project […]
The Subcontractor’s Guide to Working Capital
To put your construction business in a position to scale, you must not only be familiar with the concept of working capital, you must be able to calculate and understand the strength of your working capital position. Not sure how working capital factors into your business as a subcontractor? We’ll explore the ins and outs […]
Construction Accounting Basics for Subcontractors
Solid accounting is the backbone of a construction business. Your accounting decisions play an important role in shining a bright light on the numbers, which are crucial for maintaining healthy cash flow and a comfortable profit margin. Sloppy accounting can give you an incorrect assessment of profitability and thus could lead to poor financial decisions. […]
Prevailing Wage Contracts: What Subcontractors Need to Know Before Taking One On
Federally funded construction projects offer a whole new pipeline of bidding opportunities and may be just what you need to accelerate your business’s growth. Applying for government construction projects requires significant resources and effort, and it’s not for everyone, but being able to take on federally funded projects can be a game changer for […]
How to Estimate Project Expenses For Labor, Materials, and Equipment
Estimating project expenses requires a significant level of technical expertise, but perfecting an estimate is an art form. Here’s a guide on how to create top notch estimates for any project. 1. Review and Assess The Project’s Scope Before estimating your project expenses, it’s essential to understand your project’s scope. This goes beyond just reading […]
How to Win More Commercial Construction Jobs: Bidding Advice for Subcontractors
In commercial construction, effectively marketing your business doesn’t come down to typical branding initiatives like logos, websites, or brochures. As a subcontractor, you build your construction brand by delivering quality work in the field. However, you can only demonstrate that value once you’ve won projects where you can showcase that quality work. So, especially for […]
