Are you regularly running out of building supplies in the middle of a job? If so, you need to take the time to come up with proper, thought out estimates, instead of just guesstimating. Guesstimating might save you some time to start with it, but it causes you to lose out in the long run. It’s not difficult to teach yourself how to estimate properly, so why not take the time to learn? It’s very important to make a good estimate of expenses for any construction project if you want it to be a success. You need to make estimations of the costs so you can make correct financial plans. For example, if you need to put a new door in a structure, don’t just look at the hole in the wall and guess what it will all cost. If you make the wrong guess you are going to be out some money. Simply guesstimating leads not only to making a financial loss, but can also result in you missing out on contracts that you would have got if you had put more time and effort in. Why? Because if you overestimate and quote too high a price to someone then you will lose the job to someone who did have the good sense to come up with a proper and methodical estimate. Your competition will be taking this approach, and so it would be a big mistake for you not to do likewise. Yes, you can look at a job and guess what the labor, building supplies, time, etc., will cost. But every job is different and there are different needs for every job. Even if a job is similar to one you’ve done before, chances are pretty good that there will be differences. No two jobs are exactly alike. And even if the new job is extremely similar to a previous job, it’s just too dangerous to make an assumption that the needs will be the same as the previous job. Don’t disregard all of your past experiences but don’t make decisions solely on your past experiences. You need to focus on the job before you. So, don’t let any of it be a guesstimate. Use scientific methods and mathematical techniques. Maybe you need to find a mentor who has more experience making estimates than you do. No matter how frustrated you may get, no guessing! In the long run, you’ll be laughing all the way to the bank. You will have won the job, had enough building supplies to finish the job, and won’t be borrowing from the current job to pay for a past job.
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