They're not very good at estimating, so they lose their shirts on some (maybe most) jobs. They don't really know how to market the company, because they don't keep track of how their clients find them. They base their labor costs on how long it would take them to do the work, forgetting that employees are rarely as enthusiastic about saving time and money as the bosses. They just love all the cool equipment and want to put it in people's houses -- for money. They're just not real sure how much money.

If you're a builder, you undoubtedly can relate. You've probably spent hours putting together a "free" estimate for someone who either decided not to follow up on the project or to use another contractor. Lots of builders and remodelers are like Bob's friends: They got started in the business by doing the field work, but they never got the education about good business practices that helps them through the rough spots -- like 2008, for example.

By the way, you might want to check out something that's getting great reviews from people who have tried it: a free cost estimator available through HGTVPro.com. (No, I'm not getting paid to plug it; I'm just passing along the recommendation from other builders.)

What do you think is the biggest deficiency in business knowledge among contractors? In my experiences at seminars and conferences, I've seen an awful lot of people attending courses on determining mark-up. They know they're not doing it right, but they're trying to learn how. Sales workshops are perennial favorites. So are classes in using software such as QuickBooks or something that helps with scheduling.

Even better, where did you get your education about running your own business? The School of Hard Knocks? (Really expensive tuition there, I hear.) From a friend in the business? By reading a lot of books? Or are you still wondering where to turn for such information? Let me know. Maybe we can help you out.