News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
Stacey Freed / REMODELING / April 23, 2013
Contractors’ love-hate relationship with the online world’s biggest player
There is a thicket of ethical and practical issues that cause contractors to be wary, frustrated, and angry with Angie’s List. Stories abound about the difficulties of getting rid of negative reviews — get more positive reviews written is Angie’s List’s response — and about aggressive advertising tactics, especially since Angie’s went public in 2011.
Angie’s List had a net loss of nearly $53 million in 2012 and has not made a profit since its inception. Contractors told REMODELING that sinceRead More
Shawn McCadden / The Design/Builders Blog / April 14, 2013
Having worked with hundreds of remodelers to help them improve their businesses and achieve their goals has exposed me to the common reasons their businesses run into financial problems. Here my list of the five biggest mistakes I see contractors make that lead to money problems, and some suggestions on how to avoid or prevent them.
Guessing at the markup used to determine selling price
Pricing your work without knowing the true cost of being in business is referred to as using the “WAG” method, or “Wild Ass Guess” method. Unless a business knows what markup to use to determineRead More
TJ McCue / Small Business Trends / April 9, 2013
Many business owners are concerned about information overload, and rightly so. But times are moving fast and there’s a new challenge in town: mobile device overload.
We’re not talking about the concern about being addicted to your mobile phone or constantly connected. We’re not even talking about a pure technology problem. We are talking about the sheer number of devices that we have to manage now. A study by Juniper Networks says that:
- The average mobile business person owns at least three Internet connected devices.
- The average person owns about five devices between work and home.
Karen E. Klein / Bloomberg/BusinessWeek / April 3, 2013
In 2008, software engineer Vidur Dhanda was consulting on a risk management project on Wall Street when he noticed a fundamental problem: Even the country’s biggest lenders, in the midst of the financial crisis, did not have good data on the health of America’s small and midsize businesses.
His effort to remedy the problem resulted in the Business Default Index, which his Longmeadow (Mass.) startup, WAIN Street, launched last fall. The monthly index is based on the credit performance of nearly 18 million U.S. businesses. “I saw an opportunity. Could we get more data?” recalls Dhanda,Read More
Jim Cory / REMODELING / April 1, 2013
Q&A With Morgan Remmers, Yelp’s Manager of Local Business Outreach
REMODELING: Does Yelp have an official policy on rewards?
Morgan Remmers: We do. We discourage review solicitation or rewards to customers for writing reviews.
RM: What’s the reasoning behind that policy?
MR: We find that business owners create an unintentional bias. They want to incentivize or reward customers who are happy. It prohibits people from coming to the site; they don’t feel they can trust the information.
RM: How do you know that the review posted on Yelp has been solicited or that a reward has been paidRead More