Ben Hudachek on Strategic Estimation for Millwork Success
Today's episode of Verify In Field: The Millwork Podcast is all about millwork estimating with Ben Hudachek from BH Estimating. We'll chat about hit rate optimization, winning bids with trust, and some insider tips for subcontractors on bid day. Get ready to level up your estimating game and make smarter bid decisions. Let's dive in and verify in field!
About Our Guest:
Ben Hudachek has been providing estimating and consulting services for companies for many years. While the services offered by his company have remained consistent, there has been an uptick in the need for training and consulting. In response to this, Ben has developed a training program to help companies properly train new estimators and ensure they have the necessary skills for the job. This program has been well-received by companies who either lack the time or expertise to train their estimators effectively. As a result, Ben has seen his business expand to meet this growing demand for training and consulting services in the industry.
What You’ll Learn
1. The challenges millwork companies face in competing with each other and the impact on pricing in the industry.
2. The increased need for training and consulting in millwork estimating due to industry growth and a shortage of experienced professionals.
3. The significance of incorporating estimating into marketing efforts to effectively communicate a company's message in the digital age.
4. The importance of prioritizing trust over price in winning bids and avoiding a race to the bottom.
5. The emphasis on hit rate optimization to address growth and competition-related problems in the estimating department.
6. The necessity of outside input for refining the estimating process due to a lack of resources and capacity within the department.
7. The essential steps in improving hit rate, including tracking bid performance, analyzing hit rate data, being selective with bids, and focusing on marketing and messaging.
8. The recommendation to carefully assess a company's capacity and schedule before taking on larger projects and to prioritize slow and steady long-term growth.
9. The value of identifying hidden bottlenecks and areas of potential growth within a company and investing in training and resources to optimize these areas.
10. The importance of clear communication, building trust with contractors, and being selective with bids to achieve growth and profitability.
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