Construction, by its very nature, can be and is a stressful business. While we are planners by trade, and we’ve all learned how to mitigate risk, we’re constantly battling unforeseen circumstances. The list can range from material shortages to something as simple (and powerful) as the weather. Many of us thrive under pressure, but how …
Which of these traits is more important as a leader? An article I read this week argues that while these use to be called “soft skills,” they are now a necessary part of successful leadership. While I think they are all part of the recipe for great leadership, the case for humility particularly stood out. …
Over the years, I’ve had the privilege to meet many artists, a handful of whom I’ve come to know as friends. George Jones, Jr., is a 4th generation broom maker from Florence, Ala. Jerry Brown was a pottery folk artist from Hamilton, Ala., and Bettye Kimbrell was a quilt maker who specialized in Cherokee leaf …
At its roots, most of construction is a task-oriented business. To be successful, one has to always be moving from strategic to tactical thinking and back again. While tactical processes are probably more the core of our business, this also requires balancing the minute details with the “10,000 foot view.” One of the main things …
All things considered, 2023 has been a volatile year. The war in Ukraine, one that we hoped would be resolved, rages on, and now there is war in Israel. We’ve gone back and forth on the state of the economy and what to expect in the future. AI has become a major topic of conversation, …
About this time last year, the Bureau of Labor and Statistics released a study showing how likely a small business is to succeed over time. Only a quarter of businesses are still operational 15 years after they open. This article gives a few reasons, from ineffective business plans to lack of financing and trying to …
In business, there are all kinds of assets on the road to success. Cash flow is just one of them. One of the most misunderstood and undervalued resources is relationship capital, or mutual trust built over time. Just like “good will,” relationship capital is an intangible asset that doesn’t always show upon the balance sheet. …
Perspective has a big role in how one views leadership. For me, it can be defined a couple of ways. The first is keeping a steady rudder in choppy waters. Equally important is understanding and inspiring those around you to reach whatever potential they wish to achieve, then raising the bar a bit higher. It …
There are many layers to being successful, and some things come easier than others. In the construction business, we may not have daily interaction with our customers, but we do have a lot of visibility with the public. Most of the people who walk or drive past one of our construction sites have no idea …
Recently, I was visiting with a friend who has a promising business concept in the works but is lacking cash. As many in the business world know, a startup usually takes twice as much cash and twice as long to get to a profit than the initial forecast. Most people won’t go broke because they …
This week, I had lunch with a couple of longtime acquaintances. One is a banker with a Fortune 100 company, and the other is a successful multifamily developer. Our conversation drifted to hiring great talent in this tight market, and what we look for in new team members. Having the necessary background and experience is …
I was recently reacquainted with an old trick for becoming more persuasive. Instead of just making a request, add the word “because” to your sentence. Giving a little context gets a much more positive response, with 55% more compliance than if you omitted it, according to a classic Harvard study conducted in a traditional office setting. …