Like a building the larger it will be the stronger the foundation must be. Like a building; if there is weakness in the foundation it will start to show over time. Like a building; a weak foundation is very difficult and expensive to fix. Like a building; a weak foundation can lead to catastrophic failure if ignored - especially in bad conditions.
What does a “foundation” look like for a contracting business?
When you start building a contracting business your #1 priority is simply winning and then building projects. Let’s consider this the “Building” and when you start it is more like a tent requiring zero foundation.
The first layer of the foundation are the workflow processes and technology tools used to directly support your #1 priority. That makes this part of the foundation the most visible. Consider this the slab and if you are building a relative small building that’s all you need but a larger building needs a foundation that goes all the way to bedrock or else you run into massive future problems.
This deeper foundation includes a clear and shared vision, a strategy to get there, the organizational structure with the right talent to support that strategy, a rigorous business planning process and the disciplined operating rhythms to keep those plans on-track. The culture and behaviors of the team must be consistent and support all elements of the foundation - like the strength of the concrete.
How strong is your business foundation?
Are any cracks starting to show like stagnant growth, volatility of profits and excess stress on the team?
Learn more about how we help contractors build stronger foundations that support sustainable growth.
