How Wealthy Are You

It's true that making money is great.

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Profitability and cash flow are two of the primary scoreboard items for contractors.  

Leadership Tools: How Wealthy Are You? Beyond having reasonably good levels of security, shelter, and food... wealth is measured by..

However, you must pause to put a few other things in context for your life’s balance sheet. And as a leader, you must help others build their life’s balance sheet.  

Considering reasonably good levels of security, shelter, and food, true wealth is measured more by non-material things.  

  • You can and should continue building material wealth, so this is not an “OR” type of decision. Rather,  it is a prioritization decision.
      
  • You should also look at these other measures of wealth as prerequisites. There is no amount of material wealth that will overcome a weak foundation. 
     
  • Study Maslow’s Hierarchy of Needs and rate yourself on these questions. Talk to your friends and family about them. Develop a plan to improve them.

  • Consider the wisdom of Warren Buffett: “Basically, when you get to my age, you'll really measure your success in life by how many of the people you want to have love you actually do love you.”


What are you doing today to improve your wealth?  




Cash Flow Tip 4 - Delighting Your Customers
Delight Your Customers - Both Direct and Indirect. All other things being equal your cash flow will be better if your customer is delighted with the work you have done. They are more likely to:
Project Delivery - CM Agency or Multi-Prime
Project Owners can minimize the markups for overhead and profit by contracting directly with the specialty contractors and hiring a Construction Management (CM) firm to work as their agent. This project delivery method is called CM Agency or Multi-Prime.
Progressive Levels of Business Development
The most important first step for a contractor is to find a customer who will pay for a project. With continued growth, the process of business development becomes progressively more complex including how it is integrated with strategy and operations.