In short: Time is contractors’ scarcest resource, often wasted on preconstruction tasks. On-Screen Takeoff® with Takeoff Boost™ cuts estimating time by up to 95%, saving labor costs. Multiply time an...
In short:
Time is contractors’ scarcest resource, often wasted on preconstruction tasks.
On-Screen Takeoff® with Takeoff Boost™ cuts estimating time by up to 95%, saving labor costs.
Multiply time and cost savings across monthly bids to reveal profit.
What’s the most critical resource in construction?
It’s not a material or even people—it’s time. While you can buy more materials or find more workers, you can never get lost time back. Research has even shown that nearly 50% of time on a construction project is wasted on unproductive activities.
What Eats a Contractor’s Time the Most?
The answer will differ from contractor to contractor, but the preconstruction phase can be one of the most time-consuming for many. Between building relationships, finding quality projects and work, and then—what could possibly be the most draining—the time spent crafting a competitive (and accurate) estimate, the chances of something slipping through the cracks are too high.
But what if you could reclaim that lost time and convert it directly into profit?
3 Simple Math Problems That Give You 1 Very Helpful Answer
Let’s do some quick math to see the real financial impact of lost time. Don’t worry, this is easier than you think!
Step 1: Determine the amount of time you could save
Customers tell us that On-Screen Takeoff® with Takeoff Boost™ reduces the time spent on estimates by up to 95%.
To determine the amount of time you could save with Takeoff Boost, use this calculation:
Hours spent on estimates × 0.95 (the decimal form of 95%) = Hours you could save
For example, let’s consider a typical scenario where you spend 10 hours on a single estimate. If you use Takeoff Boost, that estimate could take you only 30 minutes to complete, giving you 9.5 hours back on just one project.
Step 2: Determine the money you could save per project
Now, let’s apply some cost savings. Calculate this:
Hours you could save × Hourly rate = Money you could save per project
How much are you paying per hour to get your estimate completed? Multiply that amount by the time you’re saving from Step 1 to learn how much you could save per project.
In the last example we found we could save 9.5 hours per project. If your costs are $100 per hour, you are effectively saving $950, because 100 × 9.5 = 950.
Step 3: Determine total monthly savings
Now, when you multiply the dollar amount from Step 2 by the number of projects you bid on each month, the financial implications are massive. Here’s how to figure out how much money you could save every month:
Money you could save per project × Number of projects per month = Total monthly savings
If you’re taking on three projects a month, that’s almost $3,000 back in your pocket. Think about where all that extra money could go to grow your business.
When you combine all the results, think about how tightly you could manage your projects. You can even think about the burnout you could be preventing for your team members—and yourself.
Get the Full Guide and Learn More Ways to Save
These simple math problems are just the beginning of optimizing your workflow. To explore more strategies for improving efficiency and boosting your bottom line, we’ve created a comprehensive resource for you: The Contractor’s Guide to Generating Profitable Leads and Estimates.
This free resource is the third installment of ConstructConnect's The Contractor's Guide to... series. You can visit this page to download the guide, as well as the other two in the series:
The Contractor’s Guide to Adopting Software with Ease
The Contractor’s Guide to Finding Better Projects, Faster