Getting Estimating Under Control

My partner is bogged down with estimates. Sometimes we spend too much time estimating and the payoff is low; but without a detailed estimate, we don’t really know the job cost and what to quote to a customer so we can make a profit. We need to focus on getting more sales, and my partner usually plays a big role in generating leads. I’m worried that the quoting effort will bog us down as we pursue more sales.

Thoughts of the Day: Having a rigorous, efficient way to estimate the cost of doing business is an essential business function. Form a team to work on estimating. Consider alternatives to a laborious upfront approach to estimating.
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Where Will We Be Tomorrow?

Had a lot of uncertainty this past year, but we made it through okay. Looking forward, things seem to be looking up. Am I being too optimistic? How can one really plan ahead longer term when we don’t know how things are going to play out?

THOUGHTS OF THE DAY: Looking ahead, change is a given. Look for the upside. Be clear about the overall mission. Learn how to take manageable risks.

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Ensuring Cash Reserves Are In Place

It feels as if, at the same time last year, we had more saved up in the money market account. And I know that last year the line of credit was paid off, while this year we’ve got quite a bit outstanding. Should I panic, or keep going forward?

Thoughts of the Day: There are several reasons that you could be dipping into cash reserves and the credit line. Set in motion a plan to get things back on track. Treat underlying problems as warning signs and fix them permanently.

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