by Simplar | Oct 31, 2024 | Business of Construction, Financial Management and Risk, Weekly Construction Message
Contractors usually start out as closely held companies that grow their business gradually over time. Many have formal education as engineers or constructors, but rarely do they have any business education or experience. Their first bookkeeper is often their spouse or...
by Simplar | Oct 24, 2024 | Built Environment, Business of Construction, Business, Strategic and Project Planning, Labor & Labor Issues, Organization Transformation, Project Delivery
The construction industry is perhaps the best example of an industry built on firmly held but largely unexamined beliefs. Most contractors I have worked with over the last 30 years believe that: top line growth in sales is always good; their company can build...
by Simplar | Oct 17, 2024 | Built Environment, Business of Construction, Financial Management and Risk, Weekly Construction Message
Big business starts as small business especially in the construction industry, which is primarily made up of tens of thousands of small and medium sized privately owned companies. Today I am addressing the contractors who are still of a size to be building their...
by Simplar | Oct 10, 2024 | Business Development, Business, Strategic & Project Planning, Business, Strategic and Project Planning, Business, Strategic and Project Planning
Do not be misled. Construction contractors are not manufacturing structures, or highways, and selling them to ultimate owners one piece at a time. We are selling construction services, much like business consultants are selling information services or law firms are...
by Simplar | Oct 3, 2024 | Built Environment, Business of Construction, Organization Transformation, Uncategorized, Weekly Construction Message
The process of building an organization that can execute profitable construction contracts sometimes begins with asking your spouse to answer the phone two days a week. Regardless of how incidental it may feel, every time you hire new personnel you are building your...
by Simplar | Sep 26, 2024 | Built Environment, Business of Construction, Financial Management and Risk, Uncategorized, Weekly Construction Message
I have often said that the first sign that a young contractor is developing business acumen is when they hire their first CFO. If you’re operating any size construction business larger than $5 million annual turnover you must have a professional CFO. Period. No...
