Issue 9 of 9: Low Barriers to Entry

Construction Ownership Transition Issue 9 of 9: There are Few Barriers to Entry for New Contractors.

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Succession: Ownership Transition Issues - Number 9 Barrier to Entry. Don't Let an Ownership Transition Create Another Construction Contractor to Compete With You.

About 500 construction contractors start up each day.  

  • Many of those are just people having an “entrepreneurial seizure,” as Michael Gerber describes in The E-Myth Contractor.  
  • A few of these will have the grit and skills to build the ENR Top 400/600 contractors of tomorrow.  
  • Others are experienced construction executives who will go on to build substantial construction businesses relatively quickly.  
  • In most cases, a new contractor starting up will cause a serious talent drain on the contractor they leave, as well as changing the competitive landscape.

Make sure that your ownership transition plans don’t create another competitor.  


Succession
Continue building value in your business, yourself and your key team members with a good succession strategy....

Succession
Continue building value in your business, yourself and your key team members with a good succession strategy....

Issue 4 of 9: Financial Partners
Construction Ownership Transition Issue 4 of 9: Are Your Financial Partners, including Bank and Surety, Onboard with the Transition?
Today I Will... Jerry Rice Quote
Tomorrow is a day that will never come -- it will always be the day after today. Yesterday can never be changed.
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.