Don’t Be Left in the Proverbial Dust

Business PlanningContractors

03/27/2015 | By Scott Siegal

Has your business as a contractor come to a crossroad? Are you in need of a re-BOOT? Now is the time to take advantage of one of our Boot Camps and kick start your career as a contractor!

Have you been wondering why your competitors are successful and you’re not? Well, we can’t tell you why, but we can surely show you what you can do better. We all know time is money so why not add value to your time and come join us at our next meeting?

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3 Reasons Why Contractors Fail

There are many reasons why contractors aren’t successful and even end up filing bankruptcy after many years of growth. Here are just a few of the mistakes we see:

  1. ORGANIZATION –  This is an area we often see poor leadership and poor financial management in. Failure usually starts from the top. You see insufficient capital or profits along with the general lack of business knowledge. The latter will help you fail in ANY business! We also see a lot of failed marketing techniques.
  2. STRATEGY – This is where all those bad business decisions hurt most contractors. They have unrealistic growth expectations and are unfamiliar with new markets. Contractors become obsessed with volume and making promises they can’t keep. Poor project selection is a big killer as well.
  3. UNCONTROLLABLE – This is where a bad economy and a weak industry will hurt most contractors that don’t have a solid foundation. Contractors also have no control over what banks are willing to do with loans.

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As a contractor, you want to have the right people in the right place. After all, the construction business is a people business. Contractors, nowadays, are focusing on their cultures. A strong culture will have the ability to be more disciplined with their finances and can adapt to industry changes much easier.

 

Did you know, you can be a guest at our contractor sessions before you decide to join? That’s pretty great, especially if any of the pitfalls we mentioned above sound like some of the areas you may need help with in your contracting business!

Join us for one of our BOOT CAMP sessions soon and find out everything you need to know about being a successful contractor! We even offer free tickets from time to time!

Contact us today if you’d like to join our next event!

Building the best,

Scott

Register for Contractor Boot Camps Here! 

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