How to Manage Your Projects During Difficult Times

David Lupberger, President of RemodelForce has over 2 decades of experience in the residential remodeling field as the basis for his work with remodelers in developing proven business systems. Through his efforts, he hopes to redefine the way the remodeling industry operates so that the trust between quality remodelers, their customers, suppliers, and trade contractors can be leveraged and improved.    

David mentions we are in uncharted territory and most of us have never been through anything like this. He will share what he sees the most proactive contractors doing and how they are changing. How can we adapt and pivot to take advantage of and maximize some things that are taking place?  

Communicating with your staff, clients, and prospects. What to say and how to say it.

What to do now? You need to move forward. Start by communicating with your staff. Let them know where their employment stands and new procedures that will be put in place. Clients and prospects are also wondering what will happen with their project whether it’s in progress or pending. Be sure to communicate with them on the status of the schedule. Your staff, clients, and prospects are looking to you for leadership.  

Working remotely. Monitoring projects and communicating with your team and clients.

David discussed the importance of using technology during this time of working remotely. He mentions the level of uncertainty, the need to convey confidence and show the clients how you will use these tools to move forward with their project. Below are the resources David recommends.

  • Remote Viewing & Design Tools

Financial strategies for surviving in the short term and thriving in the long term

Understand your finance options. Put together a 60-day run-rate. What money you will receive in the next 60 days, compared to what money will go out. If your quick ratio is not in the black, you know you are coming up short.   

  • Getting financial assistance for your small business in this economic contraction
    • PPP
      • How to use 75% or more of PPP money on payroll 
        • COVID-19 Bonus – because of crisis the staff is working harder and more hours
        • Hazard pay to people in the field
        • Keep a different chart of accounts to show the lender where the money went
    • EIDL – Economic Injury Disaster Loan
    • Create a line of credit 
    • Employees
      • Company-wide salary reduction, furloughs
    • Suspend Payments
      • Rent, Mortgage, Truck/Equipment payments

In construction, things don’t always go according to plan. Part of the innate ability to adapt by remodelers is that we are used to changing. Remodelers pivot regularly and are adept at this since it is part of our business model. Think of this crisis in a similar fashion. Look at what you can manage on the business on a daily or weekly basis? We can’t control the general picture but we can control how we respond. Connect with your peers, share best practices, and connect on a personal level. Be prepared to lead through this crisis.   

David Lupberger’s Webinar How to Manage Your Projects During Difficult Times!  

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