Start with the free assessment.
Transform your business with the Academy.
Each quarter, ABC Greater Baltimore will host the ABC/WELL BUILT Academy, a 4.5-hour workshop taught over three 90-minute sessions where WELL BUILT will walk you through your assessment results and help you put them into action!
1. Do you have an Income Statement/Profit & Loss report (P&L) Report or Income Statement produced monthly?
2. Do you have an accurate Balance Sheet produced monthly?
3. Do you have an accurate Work in Progress (WIP) produced monthly?
4. Do you have a cashflow projection for the next 6 months?
5. Do you have accurate revenue pipeline (pending potential sales) projections?
6. Do you have accurate gross profit (both backlog and pipeline) projections?
7. Do you have accurate manpower projections each month?
8. Do you hold recurring financial review meetings?
9. Do your estimating, project management, and field teams/personnel meet daily to plan and discuss work?
10. Is your gross profit within the profitable range for your industry and business type?*
*Profitable ranges:
General Contractors:If your average projects are over $10M, the GP should be around 6%. If your average projects are under $10M, the GP should be around 10%.
Trade Contractors:Large Trade Contractors: Optimal = 18-35%, Profitable = 12-15%.Other Trade Contractors: 25-35%.
11. Is your net profit within the profitable range for your industry and business type?
General Contractors:If your average projects are over $10M, profitable range = 2-3%.If your average projects are under $10M, profitable range = 5-6%.
Trade Contractors:Generally, the target is 10%+.In some trades that are heavier in equipment (HVAC, Electrical, etc) are closer to 6-10%.
12. Have the owner(s) established clear personal income goals that align with business growth?
13. Do the owners have clearly defined roles in the business?
14. Can your business run day-to-day without you being involved in everything?
15. Are there clear Profit & Loss goals for every profit center in the company?
16. Do you have clear, written goals for this year and the next three years?
17. Do you have a written business plan with clear action steps to make this year better?
18. Does each department/key personnel have specific improvement goals?
19. Does your leadership team meet at least monthly to check progress on business goals?
20. Do you have written standard operating procedures (SOPs) for key tasks that everyone follows?
21. Do you train your team regularly on these procedures?
22. Do you have an updated org chart showing who reports to whom?
23. Do you have an org chart showing what your team will look like in the future as you grow?
24. Does any single client account for 20% or more of company revenue?
25. Does the business make decisions based on maximizing value and relationships, not just minimizing cost?
1. Do you have a current safety manual that meets OSHA rules and is used on the job?
2. Is your EMR (Experience Modification Rate) under 1.0?
3. Are your team’s licenses and certifications up to date, and do you track them regularly?
4. Do you give thorough safety training to all new field and shop workers?
5. Does your company have core values that everyone knows, follows, and are held accountable to?
6. Are your employees happy at work?
7. Are your customers satisfied with most projects?
8. Does your team believe in the value your company provides?
9. Is your leadership team open to learning and improving?
10. Is your company willing to make tough decisions when needed?
11. Can your team have hard but necessary conversations when problems arise?
12. Are people held accountable for doing their jobs well?
13. Do team members trust each other to act honestly?
14. Do team members trust each other to do great work?
15. Does your team get things done effectively?
16. Is your company willing to try new ways of doing things?
17. Do you have a culture that supports growth?
18. Have you developed a network of experienced professionals that you meet with on a fairly regular basis, and who can act as a sounding board for the various challenges you face as a business owner?
1. Do you hold regular meetings to discuss estimating and bids?
2. Do you have a strong and experienced estimating team?
3. Do you use estimating software that everyone uses and that works well?
4. Do you review and update your bid formulas based on what actually happens on jobs?
5. Do you find most scope or contract issues before the job starts to avoid surprises later?
6. Does everyone know what types of projects are the best fit for your company?
7. Do the people responsible for getting new business understand your company’s strengths and target your clients accordingly?
8. Do you have a written sales process that begins with prospecting and ends with follow up and relationship management?
9. Do you often win jobs because of your relationships with clients, not just by being the lowest bidder?
1. Do you hold recurring project management meetings?
2. Do you hold weekly production meetings?
3. Are structured project handoff meetings from estimating to operations used for every project?
4. Are structured project kickoff meetings used for every project?
5. Are structured After Action Review (AAR)* meetings held after every major project?
*AAR meetings are post-project meetings to reflect on project success and failures.
6. Do you have a highly skilled project management team?
7. Does project management produce accurate budget projections?
8. Does project management produce accurate schedule projections?
9. Do you have a strong field management team?
10. Does field management set daily goals and meet them?
11. Do you use project management software that everyone uses and that works well?
12. Are your change orders done correctly, on time, and approved with little pushback?
13. Do you use software to track field workers’ time on jobs?
14. Do you keep your project schedules updated by tracking those critical tasks that will control how soon the project can finish?
1. Are Accounts Receivables (AR) follow-up processes in place to minimize payment delays?
2. Are billings completed and submitted in a timely manner?
3. Is there a full-time safety representative in the company?
4. Does your accounting software allow for modern, easy-to-read financial and job performance reports?
5. Does each department have clear career paths showing how people can grow in their roles?
6. Are you always looking to hire for key positions, even if you’re not in a rush?
7. Do you have a consistent process for letting go of employees who don’t perform well?