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 3 - Contractual Details Matter
The reason we are called contractors is because we work off of a contract that defines the scope and terms of what we build. How we negotiate and manage the contract determines cash flow.
Technology Integration - Streamlining Workflows
Construction technology can no longer be treated like a “Project” with a beginning, middle and end to the implementation. There are now hundreds of specialized technology tools that can be implemented by contractors and each add individual value.
Positioning for the Best Talent
Contractors are in an all out war for talent. The winners will be those contractors that master recruiting, retaining and development at both the craft and leadership levels.