General Contractors, to succeed, must be clear on the answers to five questions.
Answering the questions is straightforward.
Working out the answers in your business is difficult but rewarding if you do it consistently.
Contractors know the answers to these questions empirically or intuitively.
Pain comes when they know the answers but don’t act on them.
Here are the questions…
- Project types: Which projects are our most profitable?
- Location: Where should we build?
- Clients: Who do we want to work for?
- People: Do we have the right people in the right seats?
- Project Partners: Are our subs kick-ass or mediocre?
The answers should shape your:
- strategy,
- marketing,
- business development,
- estimating,
- operations,
- hiring/firing,
- and billing.
If you ignore the answers, that will be reflected in your profit levels falling and your stress levels rising.
Do you know the answers to these questions?
If you don’t, spend the rest of the year getting the answers and planning how that will impact you in 2023.
If you do, identify any misalignment in your business with the answers and get busy fixing that.
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