This philosophical question about growth comes up from time to time. Many construction companies (most?) are bigger and more profitable than the leaders ever dreamed they’d be. Consequently, they don’t know where to go next; they’ve never managed operations at this scale. Why are they so successful and “lucky” while other contractors seem to struggle to get and execute work?
Please tune in this week as Wayne explores the simple reason you have outgrown and maybe even displaced others in your markets and answers the question “how much is too much?” HINT: it’s much more about your potential than it is about dollar or productivity measures.
The April Denver Contractor Business Boot Camp is almost FULL! The Raleigh Boot Camp scheduled for March 24-25 still has seats available. Enroll your high potential NextGens NOW! Contact Charlotte at ckopp@familybusinessinstitute.com for more information.
Good one, Wayne! Timely for us. We have two days of strategic planning next week! For me, starting Russell Group at age 22 (1983), the answer has never really been about the top line, it’s about growing the people and thus the enterprise. Growth is really essentially a talent attraction and retention strategy!!
Agree, Jim. Growth = excitement for many (especially BizDev types like me!). Good luck with your plan updates!
I believe that if a company isn’t growing sustainably, it is dying. As a leader, I’m keenly aware of my shelf life and have been grooming the talent coming behind me. It’s the most important thing I can do as a leader – prepare the next leader(s). To quote Peter Drucker “Success breeds that which is not successful.” Financial gains can lead to complacency which ultimately ends in failure. Fight complacency, but enjoy the ride and show genuine gratitude for those who are toiling alongside you.
Couldn’t have said it any better, Chris! Thank you.