Business Development - Two Basic Principles

For a contractor to grow sustainably, there are two important basic principles.

D. Brown Management Profile Picture
Share

Business development is crucial for any contractor to grow sustainably. This starts with choosing the best market strategy for your company at this point in time.

Assuming your operations are at least on-par with your competition: 

Leadership Tools: Business Development - Two Basic Principles

If your profitability is marginal or even at a loss due to too little work, then your market strategy and business development tactics must be aggressive.  

If your village had too little food, you would double-down on your hunting and gathering efforts. You would get up earlier and stay out later. You would explore further out from your village.  

And you would remember to not eat poisonous plants or bad meat even if you are hungry, because that would make the situation worse.  

Gradually, you would gather enough strength from this extra effort and food to invest in longer-range farming activities.  


If your profitability is solid, you can get more selective and strategic about the work you take on.  

It is the same with food. Eat what will sustain you in the long-term and makes you happy.  

Invest more in farming operations and more away from hunting, but don’t lose those skills.  

Don’t overeat. Don’t over hunt, fish, or farm. Don’t simply eat for short-term pleasure. 




Balancing Health and Wealth
There is no bigger variable in our general health - physical and mental - than having a good, stable income. As more states go into lockdown, please make sure that all leaders in your company are effectively weighing this balance.
18 Details That Make a Huge Difference in Cash Flow
There are 18 tactics contractors can use to improve cash flow at the project and the company level.
Helen Keller - Blind vs Vision
As a contracting business grows it becomes more important the team is aligned around a common vision and culture. It becomes even more critical if the company has more than one geographic location.