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Training
Construction companies sell construction services to owners of real property assets. We do not own structures or real property for sale. The collective expertise of our team is our only profit producing asset. We are in a service business, and our ability to put...
Recruiting
As we said last week, most construction companies begin as closely held or family concerns. Gritty hard work leads to success. Jobs get bigger and more complex as the family digs in. Eventually, they reach out beyond the founders to a circle of experienced...
Assembling Assets
Building a company is nothing more than assembling the assets that will enable the business to make a profit. In a service business like the construction industry, this means hiring the people who will provide the service--and organizing them into a functioning whole....
A Construction Company IS Its Management Team
A construction company does not have a management team. It is its management team. This is an important distinction to ponder. Contractors provide construction expertise to our clients for a fee. This "expertise" is the "know-how" derived from the years of collective...
The Components of Contractor Value
The value of a construction company is its ability to make money. This ability is made up of three components: Managerial Maturity Financial Capacity Market Position Managerial Maturity By "mature management" I mean a team of experienced managers at the head of each...
Let’s Make Money
The purpose of business is to make money. "Making money", however, means different things to different people. To an employee, for example, it means to have a job and get paid a wage. To an owner, on the other hand, it means to realize a reasonable return on your...
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