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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...
Dead Reckoning
Anyone who has owned a boat has heard of dead reckoning. Dead reckoning is the process of calculating the current position of a moving object by using a previously determined position, or fix, and incorporating estimates of speed, heading (or direction), and elapsed...
Evolution
Most contractors succeed without a formal strategic plan. So, why am I always banging away at strategic planning? Evolution. --- Let me explain.No Plan NecessaryThere are over one million construction businesses in America creating more than $2 trillion worth...
When Data Becomes Information
As we discussed recently, UConn basketball coach Dan Hurley used strategic analysis to defeat Purdue in the national championship game. His example should clear up any confusion about the word "strategic". All analytical thought toward a well-defined objective is...
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