Page 34 - IEC Insights Sept-Oct19

SPECIAL CONVENTION SECTION

EDUCATION SESSION DESCRIPTIONS

Business Management Track

THURSDAY, OCTOBER 3 Succession Planning for
the Next Generation

Technology and Trends in Estimating 1:00 – 2:30pm
11:15am – 12:15pm Have you wondered who, where or what you are going
to do with your business when it is time to retire? Have
Estimating technology is one of the most important you identified your successor but have no idea how to
options in your company, and technology is a make them want to be your successor? Whether you are
consistently moving target. Contractors need to be leading a business or hope to be the future business
aware of how to utilize this new technology when it owner, come hear from IEC contractors who have been
becomes available. This session will review how to through a business succession or are in various stages of
manage drawings electronically for time and cost a business succession. The panel will discuss their roles,
savings; do digital takeoff quickly and accurately; and how their transition was handled, identifying key players,
finally show different ways to wrap up the bid, and do’s, don’ts and what to expect in succession planning.
manage the job. With the “cloud”, this session will
also touch on software access and options for your Presenter: Troy Corrigan and Panelist – Corrigan Electric
estimating and project management. Come get caught
up on what’s new in the Estimating Software world!
Presenter: Paul Wheaton – McCormick Systems FRIDAY, OCTOBER 4

Numbers Contractors Must Know & Career Path Mapping
Track to Always Make a Profit! 1:15 – 2:15pm
1:00 – 2:30pm Organizations are justifiably concerned about the ability
Owning and managing a profitable construction company to retain talent in an environment where availability
starts with knowing your numbers and reviewing your of workers is scarce. The changing needs of today’s
financial metrics scorecard. Learn how to use the right workforce require employers to reassess their employee
overhead and profit mark-up, track your sales goals, development programs. This session will provide clarity
manage your finances, and develop a clear understanding and strategies for creating an effective career path
of what it costs to run your business. In this practical for your employees allowing the them to understand
session, learn to calculate accurate job costs, labor the opportunities within the firm and engage them
rates, equipment costs, crew rates, overhead, and in creating, and owning, their own career map.
profit mark-up. Implement the 12 step formula to Presenter: Michael McLin – Maxim Consulting Group
always make a profit; determine the right overhead
and sales you need to make a profit; track your Work In
Progress and Completed Contracts schedules; review
monthly sales revenue and gross profit; develop a job
size mark-up plan; track field production scorecards,
plus monitor accounts receivables and cash.
Presenter: George Hedley CSP – Hardhat Presentations

32 Insights Magazine | September/October 2019 | www.ieci.org