Billd

Every year we survey hundreds of subcontracting executives to bring you insights from the front lines of the commercial construction industry. Today, we're giving away those findings for free in the 4th annual Billd National Subcontractor Market Report. You'll read about the industry trends with the biggest impact on subcontractors. Trends that subcontractors faced head-on. In the report, you'll see how your business is stacked up against the most successful growing subcontractors across the country. Billd is dedicated to the success of America's subcontracting businesses. We're proud to release this report every year so subcontractors can maximize their strategies for growth. Download the report for free at the link in the comments!

The next installment of Billd's Subcontractor Meetup series is here! 🎉 Join us Tuesday, October 1, for a live discussion on how strong relationships between subcontractors and suppliers can help drive growth. This Meetup will feature Michael Herndon and Jared Craddock of StruktureOne, an Austin-based steel subcontractor, and Josh Tinaglia of BayWa r.e. Americas, a supplier in the renewable energy space. Some of the topics they'll discuss include:  🚩The factors that can strain subcontractor-supplier relationships 💡 Solutions to solve common challenges both parties face 🤝 The mutual benefits a healthy relationship can provide subs and suppliers Space is limited so save your spot today❗Register now at the link in the comments.

"As you're growing, you're constantly behind the ball. It feels like you're always pushing cash around." This was the reality for StruktureOne, an Austin-based steel subcontractor, who was bogged down by 12-to-16-week material lead times and delayed payments from GCs before working with Billd. These factors, coupled with their inflexible supplier terms and credit limits, not only made it difficult to stabilize their cash flow, but also prevented them from taking on bigger projects. But partnering with Billd changed everything. Billd created a custom solution for StruktureOne, giving them the financial flexibility their supplier terms couldn’t. They not only had a longer timeframe to pay for materials, but they could also start working with new suppliers that previously had limited terms. Being able to work with a wider array of suppliers bailed StruktureOne out of schedule pinches and helped them deliver on-time, every time for their customers. StruktureOne is now on track for 300% revenue growth over the next five years thanks in part to their additional working capital options and stronger relationships with their GCs. For more information on StruktureOne and how working with Billd helped them gain control of their cash flow, strengthen their GC relationships, and work with new suppliers, visit the link in the comments. 

Your line of credit shouldn't be your first line of defense when it comes to covering your expenses. Unfortunately, this is the reality for most subs. And it's something we've been seeing more frequently in our customer meetings at Billd. During our July Subcontractor Meetup, Travis Mayor, MBA outlined the costs—and risk—associated with leaning too heavily on a line of credit. With the going interest rates for LOCs often hovering over 10%, it's even more important to create responsible strategies for how to use this form of capital. That includes incorporating the cost associated with using a LOC on any project-specific bids. To learn more about considerations for using your LOC, watch the video recap below. You can watch the full Meetup on demand at the link available in the comment section. 

➡️ Price volatility for materials on nationwide projects. ➡️ Constantly fronting material payments 12 to 16 weeks before they arrived onsite. ➡️ Inflexible supplier terms. Sound familiar? This was the reality StruktureOne founders Michael Herndon and Jarred Craddock faced every day. The steel subcontractor always had their cash tied up in material payments, making it difficult for them to confidently take on larger projects. That was before an industry peer connected them with Billd, who provided a financial solution that was better aligned with StruktureOne's timelines. “It made our lives a lot easier. We were able to better manage cash flow on certain jobs.” By using Billd, StruktureOne gained the financial flexibility to confidently bid on larger projects, empowering them to build relationships with new GCs. "Having Billd in our corner made us more bullish on chasing projects.” To learn more about StruktureOne and other ways Billd has created solutions for our customers, visit the link in the comments section.

📣 The Billd team is looking to expand our crew! We’re committed to disrupting a $1.4 trillion industry and need the right team in place to do it. That's why we're hiring for key roles throughout almost every department. Some of our open positions include: - VP of Engineering - VP of People Operations - Revenue Operations Manager - Territory Managers Some of the perks to working at Billd include flexible PTO, parental and family leave, and a dog-friendly workspace in our Austin headquarters. If you're driven to empower subs to do the best work of their lives, check out the link in the comments to see all our open positions.

As a sub, picking the right or wrong partners to work with can make or break your business. So we tapped Gianluca Pascale, C.Tech P.GSC, a leading GC, for some insider tips on how to identify effective, collaborative contractors. ✅ For the full guide and examples that will help you execute on his strategy, visit the link in the comments.

"One invoice could decimate our credit line," said Dave Eisenhower, financial manager at Plumb-Tech. Before Billd, Philadelphia-based plumbing subcontractor Plumb-Tech struggled to grow their business due to insufficient supplier terms and maxed-out credit limits. 30 days was not enough time to make payments to their suppliers and they worried slow pay would ruin their supplier relationships. "It closed off avenues to keep us expanding into larger projects." The 120-day terms with Billd allowed Plumb-Tech to pursue larger projects, gain priority from suppliers, and improve relationships with their GCs. Since working with Billd, Plumb-Tech has doubled their revenue. Learn more about Plumb-Tech and how Billd has helped contribute to their success at the link in the comments. 

We can't wait to meet our VP of People Operations—the person who will lead the charge in building a world-class culture and team at Billd. If you're passionate about investing in people and driving a performance culture while having fun, we want to hear from you! Think you’re our person? Hit us up. Let’s build something amazing together. 🚀

Every year, your subcontracting business starts with a target bottom line and you build a plan to achieve it. And every year you encounter unexpected twists and turns that put your plan (and your bottom line) at risk. So how do you build a plan that is flexible enough to handle the bumps in the road? Kyle Follett CPA, VP of Finance at a top envelope subcontractor, recommends using a trigger points strategy, a revolutionary approach that puts you back in control of your business. His company uses "trigger points" to monitor key variables of their business to identify potential problems and act before something hurts their bottom line. By anticipating potential problems, Kyle's team can make more informed decisions—and protect their profits. Unlock Kyle's specific trigger points by checking out the full article in the comments.