Billd’s Post

Last week Billd released our 4th Annual National Subcontractor Market report. 👷♂️ 👷♀️ We interviewed 700+ commercial subcontractor leaders to understand the trends, opportunities and challenges facing the industry. The big takeaway this year? Subcontractors who account for the cost of financing & working capital upfront have higher revenues, larger profit margins, and bigger growth plans. 📈 🤑 Taking control of working capital & using flexible financing options to be able to predict cash flow is a game changer for growing businesses. Billd was founded to help subs do exactly that. Link to the report in the comments. Check it out!

Check out our latest industry report here! Subcontractors who are actively accounting for the cost of working capital have seen an increase in annual revenue and their profit margins.

This week Billd released our 4th annual National Subcontractor Market Report. Key takeaways: 🏦 Understand your cost of working capital between cash, supplier terms, line of credit, material financing, etc. and include in your bids like you would any other expense 👷♂️ Invest in your quality, skilled labor....before your competition does 📈 2023 saw increased profitability, business growth, and GC awareness of how critical timely payments are to subcontractors. Over 700 subcontractors survey participates, 85% were owners or executives and 91% have been in business over 10 years.

Excellent work by the marketing team at Billd gathering meaningful insights from the exact community we serve. If you're a subcontractor, GC, or building materials supplier, take a look at what your peers are thinking about. #commercialconstruction #generalcontractors #buildingmaterialsuppliers #workingcapital #cashflow

𝐓𝐢𝐭𝐥𝐞: 𝐎𝐯𝐞𝐫𝐜𝐨𝐦𝐢𝐧𝐠 𝐇𝐢𝐠𝐡 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐢𝐧 𝐂𝐨𝐧𝐬𝐭𝐫𝐮𝐜𝐭𝐢𝐨𝐧 𝐁𝐢𝐝𝐝𝐢𝐧𝐠. In the competitive world of construction, General contractors often face the challenge of standing out in a crowded market. High competition can make winning bids feel like an uphill battle. 𝐅𝐫𝐮𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧: Many contractors struggle with the intense competition, making it difficult to secure projects. 𝐃𝐞𝐬𝐢𝐫𝐞: What you really want is a competitive edge that sets your bids apart. 𝐅𝐞𝐚𝐫: The fear of losing bids to competitors is always looming. Here are a few strategies to enhance your bidding success: 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭 𝐔𝐧𝐢𝐪𝐮𝐞 𝐕𝐚𝐥𝐮𝐞 𝐏𝐫𝐨𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐬:  Clearly define what makes your services unique. 𝐋𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐓𝐞𝐬𝐭𝐢𝐦𝐨𝐧𝐢𝐚𝐥𝐬 𝐚𝐧𝐝 𝐂𝐚𝐬𝐞 𝐒𝐭𝐮𝐝𝐢𝐞𝐬: Show potential clients the quality of your past work. 𝐈𝐧𝐯𝐞𝐬𝐭 𝐢𝐧 𝐁𝐫𝐚𝐧𝐝𝐢𝐧𝐠: A strong, professional brand can make a significant difference. By focusing on these areas, you can transform your bids and increase your chances of success in a highly competitive environment. #Constructionbidding #CompetitiveEdge #ContractorTips #GeneralContractors

🔦 Spotlight on Recommended Practice 88R-15: Tracking the Procurement Process using a CPM Schedule – As Applied in Construction 🚨 Check out the full RP: https://lnkd.in/e8k3KGaF 🚀 Check out the full list of RPs: https://lnkd.in/e5_gaA_2

Costly Bidding Mistakes & How to Avoid Them: Failure to Seek Clarification When preparing a bid you need to do your due diligence to ensure that you have all the pertinent information, that the information is accurate, and that you have a complete understanding of this information. This means fully reviewing the plans and specifications to determine everything required to bid on the project and complete the work. This includes knowing everything from what bonds are required to whether or not there are participation goals for minority business enterprises (MBEs) or if material substitutions are allowed in the bid. If you are unsure of any aspect of the project when preparing your bid you need to seek clarification from the point of contact for the project whether it is the architect, owner, or owners’ representative. Be aware that there are typically cut-off dates in place for questions in order for any changes to the plans or specifications to be made and for any addenda to be issued to the bidders. If you are unclear on any aspect of the project the onus is on you to get clarification. Making assumptions is not the way to submit a winning bid. If you aren’t able to get your questions answered to your satisfaction then you should probably reconsider bidding on the project.

Calling all #contractors and #construction professionals: the webinar recording for "Good Bids are Good Business: successful bidding strategies during a fluctuating economy" is now available. View the recording to learn how bidding strategies can give you an edge in a competitive market.

Navigating unexpected cost increases, like materials, in construction quoting requires strategic planning and foresight. Early price locks are essential, but with material costs in flux, a buffer is key. Aim to negotiate additional savings, perhaps an extra 10-15%, post-bid. This "fudge factor" provides a cushion against unforeseen expenses. But don't stop there! Regular reviews and cashflow forecasting are paramount. Keep a vigilant eye on hours, subcontractor rates, and material costs. By staying proactive, you can adjust quotes on the fly, ensuring profitability despite fluctuations. #clearplanconsulting #contractorsolutions #constructionstrategy #constructionadvisory #constructionefficiency 

Essentials for Successful Commercial Construction Bidding Elevate your commercial construction bids with strategic insights and informed decision-making. Master the art of bidding, from direct owner engagement to navigating competitive landscapes and understanding labor agreements. Position yourself at the forefront of success with our top considerations for winning bids. If you need an estimate or any quotation for your project, reach us Mail: Estimates@suryagroup.tech #ConstructionBidding #CommercialConstruction #StrategicBidding #SuccessTips #Generalcontractor #GC #subcontractor #contractor