Michael C Stone

Estimating the cost of a project is critical to your business success. If done correctly, your company will be profitable. If done wrong, you'll lose money. Michael Stone, a successful construction business consultant and trainer, shares his years of hands-on experience estimating residential projects in this manual. When your estimated costs are reasonably accurate and you're using the correct markup for your business, you can be confident you're charging the right price for your work. The right price gives you the money you need to cover all job costs, overhead expenses, and make at least 8% net profit.If you're responsible for estimating remodeling or renovation projects, new homes, specialty work, or light commercial projects, this book is for you. You might be an estimator working for someone else or you might be the business owner who also does the sales and estimating for your business. The book is divided into multiple short chapters for easy reference. It discusses: methods of estimating details to tie down before you beginestimating laborlabor rates, how to calculate, and which one to useworking with other contractorsaccounting for errorsadjusting for difficultymaterial and installed allowancesand much moreEstimating isn't difficult when you have a system in place. The purpose of this book is to help you create that system. It's an approach to estimating that helps you estimate without having to think about the process. An orderly approach makes estimating easier and more accurate. Estimating is work. It requires dedication, focus, and practice to get it right. But it isn't as difficult when you have a system in place. The size of the project might vary, but the process doesn't change and this book is about learning the process.This book doesn't guarantee perfect estimates or a profit on the jobs you estimate. It's up to you to do the work. If you follow the principles outlined, the system you develop for estimating will improve the ease and accuracy of your estimates, and that will make your company more profitable.

Michael Stone's 30+ years of experience in residential remodeling sales and specialty sales is shared in his book, Profitable Sales, A Contractor's Guide. Focused on the construction industry, the information provided is valuable for both the business owner and their sales staff. His experience working with home and building owners has provided him with valuable insights. He spells out how to: determine if a lead is worth your time before you set the appointmentestablish ground rules during the initial phone calladdress every customer's three fearssuccessfully ask the four questions that need to be answerednavigate through design agreements, letters of intent, and other documentslay the groundwork for a detailed contracthelp clients make selectionsturn a cancellation into a positive eventfind, train, motivate and compensate sales staffA significant portion of the book is devoted to "What if?" scenarios. While a few scenarios are mildly humorous (arriving at a home to find homeowners inappropriately dressed) and some are more concerning (homeowners handling firearms on a sales call), a majority of the scenarios will happen to almost every salesperson in residential construction sales at least once in their career. What if they: Ask you to fix something in their home during the appointment? Are distracted by the TV, by unruly kids, by neighbors who stop by?Want you to finish the job another contractor started?Ask you to look at another company's quotes, paperwork, or plans?Tell you they want to furnish their own materials?Michael discusses insurance calls, dealing with other professionals (attorneys, architects and designers, realtors, engineers, lenders) and issues that can arise after the contract is signed.In construction, if your sales depend on being the lowest price, your business won't have the funds it needs to survive. Michael's first book Markup & Profit: A Contractor's Guide Revisited helped thousands of contractors know how to properly price their jobs to cover their costs and make a reasonable profit. This book shows how to sell your value and service, not your price.Sample forms are included, along with access to downloads allowing you to save many of these forms on your computer for easy use.

In order to succeed in a construction business, you have to be able to price your jobs to cover all labor, material and overhead expenses, and make a decent profit. But calculating markup is only part of the picture. If you're going to beat the odds and stay in business -- profitably, you also need to know how to write good contracts, manage your crews, work with subcontractors and collect on your work. This book covers the business basics of running a construction company, whether you're a general or specialty contractor working in remodeling, new construction or commercial work. The principles outlined here apply to all construction-related businesses. You'll find tried and tested formulas to guarantee profits, with step-by-step instructions and easy-to-follow examples to help you learn how to operate your business successfully. Includes a link to free downloads of blank forms and checklists used in this book.