Sundt and Growth of Wealth

One of the most common and dangerous misconceptions we hear about ownership in a construction company is that it’s all about perks owners get.

D. Brown Management Profile Picture
D. Brown Management
January 3, 2019 2 minute read
Share

Perk (/pərk/) noun:  Abbreviation of perquisite - money, goods, or other benefit to which one is ENTITLED as an employee or as a SHAREHOLDER of a company.

Succession: Investing in a Construction Business. Book: Level Headed, Inside the Walls of One of the Greatest Turnaround Stories of the 21st Century by J. Doug Pruitt and Richard Condit.
  • What kind of vehicle can I get?
  • What kind of expenses can I get reimbursed?
  • What memberships can I get paid for?
  • What travel and entertainment can I get as benefits?
  • How much time can I take off?
  • How big will my office be?  

If these are the questions that come up, they are 100% the wrong level of questions.  

The biggest “perk” to being an owner of a construction company is the opportunity for your money get a 20-35% annual rate of return versus the 8% or so that the market provides.  

Owners who are focused on exploiting that single “perk,” viewing it more as a privilege, are the ones who will truly outperform in the long run.

Sundt is a great example of this alignment

Observe, Orient, Decide, and Act (The OODA Loop)
The OODA Loop is a decision-making framework originally developed for the military to make agility a competitive advantage. The focus on fast, localized decisions in rapidly changing environments aligns well with construction projects and businesses.
Related Article
A Business Exists to Serve a Customer
Without satisfied and growing customers, nothing else a contractor does will matter. Few things are more profitable for contractors than recurring work negotiated with a select group of project owners.
Related Article
Types of Trust - Breaking it Down to Build Effective Teams
Build your career, team, project, and company faster by learning to quickly develop trust, including being able to troubleshoot problems. Trust is a very broad term and too often misunderstood. Trust is a verb much more than a noun.
Related Article