October 2023

  • President’s Letter – October 20231

    Dear Readers, Welcome to this month’s finance-focused issue of Contractor’s Compass. Highlights include tips on negotiating in the article “Using BATNA to Supercharge More Profitable Negotiations”, protecting your right to payment in the article “Protecting the Right to Payment”, and cash management advice in “5 Vital Tools for Cash Management in Your Construction Business”. As

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  • Contractor Community0

    The Corporate Transparency Act (CTA)’s Impact on Small Business Starting on January 1, 2024, the Corporate Transparency Act (CTA) would impose new reporting requirements on certain small businesses (specifically corporations and limited liability companies with twenty or fewer employees).  The legislation will require companies to disclose their beneficial owners to prevent bad actors from using

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  • Always Something Awesome0

    ASA Leadership at Work Back in September, ASA leaders were involved in a trio of events held in Grand Rapids, MI.  On September 20, members from across the country gathered to participate in the semi-annual Think Tank. The Think Tank committee is open to all members and meets twice per year to discuss important industry

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  • Dates & Figures0

    From AGC: Construction employment rises by 11,000 jobs in September, but firms struggle to fill openings despite 5.5 percent increase in hourly pay. Read more. ### Construction Spending Data Read more: https://www.census.gov/construction/c30/pdf/release.pdf Read more: https://www.census.gov/construction/nrc/pdf/newresconst.pdf ### From Dodge Construction Network Enhanced Data Resilience Will Help the Design and Construction Industry Face the Risks That Impact

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  • Using BATNA to Supercharge More Profitable Negotiations0

    By Dan Doyon, Maxim Consulting Group Personal and professional life are inextricably intertwined with negotiations. Negotiation skills are crucial for achieving positive outcomes in situations ranging from deciding where to dine with friends to brokering multimillion-dollar business deals. The concept of the Best Alternative to a Negotiated Agreement (BATNA) is one of the most effective

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  • 5 Vital Tools for Cash Management in Your Construction Business0

    By Tonya Schulte, The Profit Constructors Maintaining a system that allows you to stay on top of how much money is coming in and how much is going out gives you the advantage many subcontractors miss. When you can see the flow of cash (as if you’re looking at the flow of a river), you

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