That's right, it's tax season. You might be inclined to put this stress factor on the back burner, but according to Michael Stone's Markup and Profit blog, you should get taxes done as soon as possible. This way, you can eliminate the distraction and stress.

 

Of course, there is a lot of job cost accounting software out there to help you get your taxes done and get them done right. Though it might seem like an unnecessary purchase, it's wise to take a "better safe than sorry" approach here. The potential costs of an audit are far greater than that of some new software.

 

This tip is all about attitude. In our last blog on the subject, On construction software and your plans for 2009, we highlighted some examples that Stone says will lead you in the right direction:

 

·        Where can you use something differently, or in conjunction with other things?

·        Can you reduce the cost of owning or operating an item?

·        Can you extend the item's shelf life?

 

Basically, the idea is to avoid rash decisions. Don't panic about your budget and start making cuts. Instead, think everything through carefully and consider how any decisions will affect you in the long run.

 

As you probably already know, construction software can be extremely helpful here. Make the most of applications that can do things like estimate construction costs and track employee paychecks.

 

On this note, it is crucial to look forward. This may seem like an obvious way to do business in any economy, but it is especially important now. According to Building Design columnist Paul Morrel, there are several things to keep an eye on.

 

·        Estimate your future income and do it conservatively. Look at all projects, from the definite to the uncertain, but be realistic.

·        Estimate your costs for the same time period with the same considerations.

·        Use these estimates to calculate your cash flow and plan accordingly.

·        Consider other scenarios. The next year could be much better or worse than you predict, so think about what can change and how you can prepare for it.

 

Again, construction estimating and construction project management software can be your best friend here. Trying to plan for every contingency can be overwhelming, so let the software keep you organized.

 

Don't forget, your customers are feeling the strain of the economy too. Morrel says they'll be looking for the best value at the lowest cost more than ever, so you should strive for just that. Remember that we’re all in the same boat with the same problems.

 

Believe it or not, they do exist. They're not everywhere, though, so you may need focus on the skills needed for the available jobs. Here are four growth markets for 2009 according to research by the blog Changing Construction:

 

·        Public works: President Barack Obama is committed to rebuilding America's infrastructure.

·        Residential remodeling: Low mortgage rates mean homeowners can afford a new kitchen or renovated bathroom.

·        "Greening" projects: New HVAC systems, new insulation and so on can improve energy efficiency of existing buildings.

·        Alternative energy projects: After the wake-up call of high oil prices, America is becoming environmentally conscious.

         

To find out more, read our blog entry, Finding growth markets for construction in 2009.

If there are still markets, it only makes sense that you keep marketing. In fact, advertising may be even more important now, with a large number of contractors competing for a shrinking number of clients. With so much competition, Morrel says, you will need to stand out, whether it’s with a special skill or intriguing story.

 

This has been said one way or the other several times now, but here it is, straightforward: Cutting necessities will hurt you in the long run. It may seem like a good idea to cut some things now, but it'll only cost you more to go without them. As we said in our blog entry, On construction software and your plans for 2009, new trucks may not be a good idea, but you should still consider purchases that could make your company more efficient.

 

This will probably be the most delicate issue you face. Lowering spending on supplies is simple compared to lowering spending on employees. According to Morrel, if everyone plays a key role, but you need to cut salaries, then you can consider reducing pay. Laying off good employees who do important work will only create more problems. Whatever decisions you make, it is crucial that you communicate. Everyone in your company deserves to know the reasons behind your decisions and what may be in store for the future.

 

Hopefully these tips will be useful to you. As you battle through, remember that the right construction software can make many of these tasks far less stressful. Good luck!