Find the Lost Dollars Blog

5 Steps to Get Your Leadership Team on the Same Page

Is your executive team on the same page about where your firm is heading? One of the most critical factors to successful A&E business results is being able to make the right decisions that will drive the firm’s growth and profitability. When there is a lack of...

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5 Keys to Higher Profits and Happier Employees

You want higher profits and happier employees but getting both may seem impossible. The relationship between firm financial success and employee happiness is not always obvious, but higher profits enable investment in staff and systems that in turn, makes them enjoy...

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7 Secret Causes of Scope Creep

Scope creep – that vicious blood-sucker that steals your project profits. When the scope of the work done exceeds what is promised in your contract, and you don’t get more money, you pay for it. It comes straight from your profit margins and can leave a project at a...

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How to be a Top Tier A&E Firm

The majority of A&E firms will concur that 2017 and 2018 have been stellar years for the industry.  Opportunities have been abundant, and economists are telling us that it is likely that the momentum will continue into next year.  With this high volume...

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10 Strategies to Boost Employee Retention

The number one challenge stated by our clients right now is hiring and retaining employees. Because finding experienced employees is so difficult in the A&E industry, many firms are getting creative with their compensation plans, benefits, profit-sharing and other...

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10 Dirty Secrets of the Best A&E Firms

The Architecture, Engineering and Environmental industry is as hot as it has ever been in my 30-year tenure, yet even when work is booming, I still find even the best A&E firms struggle to meet targets in any given month, quarter or year. So many factors impact...

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The Blessing and the Curse of Being So Busy

 The Architecture and Engineering industry is busier right now than it has been in a long time. This is great for your firm – right? I talk with at least 5 to 10 A&E firm CEOs a week, and their results are surprisingly mixed. While it is obviously a booming market...

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Why Some A&E Firms Make More Money Than Others

Many A&E firms come to me because their profits are too low, not hitting expected targets, and barely enabling the firm to grow. In most cases, their projects are making a profit – just not at the levels expected or needed. The leaders of these firms are...

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10 Keys to Increasing Utilization

      The employee utilization rate is one of a handful of key performance indicators (KPIs) used by A&E firms to measure the ability of the firm to keep employees working on billable projects.Your employees are your firm's primary asset and...

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Tolerating Mediocrity – What is the Cost?

When we close our eyes and dream of the ideal business and team of employees, we imagine a world where there are no conflicts, everyone is a top performer, and we never have to give negative feedback. Not all employees are created equal But the reality is that not all...

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Why Accountability is NOT a Dirty Word

  I was meeting with an engineering client recently that was explaining his firm’s culture. He said, “Accountability is a dirty word around here. We don’t measure anyone or have any consequences because we don’t like to punish people.” That statement stopped me...

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How to Strategically Grow and Retain Your Best Clients

Trying to get work in the door can be a challenging process for A&E firms, and many may be missing the easiest opportunity of all. Getting more work from existing clients! You may assume that your clients are giving you all the work they have, but what if they...

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6 Steps to Find the Lost Dollars in Your A&E Firm

In my book Find the Lost Dollars: 6 Steps to Increase Profits in Architecture, Engineering, and Environmental Firms, I conclude with a final chapter that outlines the six steps that can guide you towards increasing your firm’s profitability. This article will...

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Top Ten Reasons Change Initiatives Fail

Over and over again I have seen major change initiatives fail. In fact, studies show that over 70% of most internal initiatives fail to meet stakeholder expectations. Whether it is implementing a new system, a merger or acquisition, business process improvement,...

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5 Ways to Increase Accountability in Your A&E Firm

If there is one issue that I have heard repeatedly in working with A&E firms over the last 27 years, it is the difficulty of getting employees to fully accept responsibility – to be held accountable for their actions and performance. This issue goes so deep, that...

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5 Crucial Steps for Project Manager Success

The success of your Project Managers (PMs) can make or break your firm. Right? Considering all of the tasks that the typical project manager is required to perform, it is no wonder that many PMs get frustrated or even lose money! I did an assessment of the typical...

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3 Estimating Lessons to Boost Project Profits

We have all had projects that for some reason did not meet our financial expectations. Overbudget projects happen for many reasons, including bidding on the wrong projects to begin with, underestimating the number of hours needed to successfully complete the project,...

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Time is Money: Improve Your Employee Time Management

Time is more valuable than money. You can get more money, but you cannot get more time.  ~Jim Rohn, American Speaker and Author In a professional services business, the expression “time is money” is truly accurate. Your employees’ time is the greatest asset your...

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Holding Project Managers Accountable for Profitability

While most A&E firms expect their project managers (PMs) to deliver profitable projects, many have not put the appropriate measures in place to ensure that it happens. Accountability at the PM level is often vague and unstructured, which can lead to several...

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How Accountable Learning Can Improve Financial Results

    In looking where to invest limited dollars these days, it is critical that every penny spent provides a return on investment (ROI) above what other investments could deliver. Every dollar spent on one part of the business takes away investment in...

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