The only real difference between the continuing successful construction companies and the early failures is management skill. It's staggering how many contractors have enjoyed years of success only to fail because they let their companies get larger than they could effectively manage. Management skill is more than supervisory skills. It includes a certain amount of vision so that planning for the future can take place.


Contractors must change from doing everything themselves to building an organization that can do everything as well, or even better, than they can. Some of the hardest options a growing contractor must face include: delegating responsibility and authority; hiring top managers to supervise long-time associates, friends, or family; sharing financial information with more people.