Contracting businesses operate in a very competitive market with relatively low margins and high risk. Combined with other factors this causes many contractors to focus most of their energy on winning projects, building projects and keeping customers happy.
This customer-first; projects-first focus is great in the earlier stages of development but starts to impact sustainable growth over time. Typical symptoms include:
- Stagnant or highly sporadic growth
- Lower or sporadic profitability and cash flow
- Inconsistent margin gain / fade on projects
- Additional stress on the team including turnover and difficulty recruiting
“Leaders of companies that go from good to great start not with ‘where’ but with ‘who’. They start by getting the right people on the bus, the wrong people off the bus, and the right people in the right seats. And they stick with that discipline - first the people, then the direction - no matter how dire the circumstances.”