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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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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Turning Around an Underperforming Team

Are you frustrated because not every team in your firm is hitting their goals or performing at their highest level? Unfortunately you may have groups that struggle to be profitable, have high turnover, or don’t embrace your firm’s culture. It can be difficult to hold...

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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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Building an AEC Firm: It’s a Business, Not a Hobby

After 30 years as a Principal in the firm KCCT Architects in Washington, DC, Tom Twohey recently retired at the age of 79. Tom was one of the founding partners in the firm, and my client for the last 22 years. Unlike most architects, Tom had a business mind, and...

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Are Your Clients Taking Advantage of You?

In today’s post we're sharing a podcast of an interview of June Jewell by STEVE GORDON on The Unstoppable CEO. >> Click HERE to listen If you have a professional service firm… you can’t miss this one. Have you ever done a project and ended up making less than...

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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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Reinventing Your Culture to Enable Growth

    The drive for progress doesn't wait for the external world to say "It's time to change." - Jim Collins, Best-selling Author, Good to Great Recently I was talking with a prospective client about challenges they were facing with their project management....

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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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6 Steps to Win on Value Instead of Price

We've all been there, sitting in front of that client we know we don't want to work with. But the fear takes over. The fear of not having enough work. So we don't walk away. We succumb to the pressure and lower our fee. Or maybe it is our best client, and he is...

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6 Keys to Building a Profitable Culture

Increased competition in the Architecture and Engineering (A&E) industry is driving down fees and making it feel like a buyer’s market. This is putting a squeeze on A&E firm profits, and forcing many firms to re-evaluate their strategy including how they go to...

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Making a Difference – One Client at a Time

We all work hard every day and hope that what we are doing is adding value to our clients. We usually don’t get much feedback about whether our work is making an impact, although occasionally something happens that puts a smile on your face and makes it all worth it....

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Do You Have a Strong Project Management Culture?

There were many trends discussed for engineering firms at the 2013 national American Consulting Engineers Council (ACEC) national conference last month in Washington, DC. I always pay close attention to these discussions in order to make sure I am on top of the latest...

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Ten Culture Traps that Steal Your Profits

The culture of your firm directly impacts your profitability. How you look at money, deal with your financial management, and manage your staff directly translates into policies, processes and behaviors that cause projects to go over budget. Without a healthy focus on...

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