We, as contractors, blame our failure to make profits on conditions over which we have no control. Actually, this is not the case. Management decisions alone determine success or failure in the construction business. Many contractors believe that quality construction and a few breaks should guarantee business success. They don't. Identifying the elements of past failures help achieve future success.

CONTRACTORS TEND TO REINVENT THE WHEEL

There's a code among contractors. It's an unspoken code, but everyone learns it fast enough: You learn the basics of the industry, then you acquire the essential information and knowledge of the industry on your own. Once you've gained that information, it's yours. Let others earn it and learn it the same way. Because of this attitude, contractors continue to reinvent the wheel every day.

ORGANIZE YOUR BUSINESS TO BE ABLE TO MANAGE IT

A contracting business has three primary functions: getting the work, doing the work, and accounting for the work. Or, put in other terms, marketing, operation, and administration. These three things are separate and distinct from one another. Once your business and technical activities are broken into these functions, and once your time and energies are budgeted to treat them separately, you'll be organized. Once you're organized, you can manage the operation.