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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...
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...
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