From Financial Management to Business Management

As contractors go through different stages of growth it often makes sense to expand the financial management role into more comprehensive business management role.

D. Brown Management Profile Picture
Share
Leadership Tools: Financial Management to Business Management.

At exactly what stage a contractor starts to expand this role depends on:

  1. Volume or work
  2. Complexity of work
  3. Complexity of the regulatory environment the contractor operates in
  4. Best Return on Time for other operating executives who are currently doing these functions

Of all these the best Return on Time for other executives is often the most overlooked.  Consider how much time some of these functions take other people in the organization.

Could their time be better spent:

  • Connecting with customers to help develop business?
  • Improving project execution?
  • Spending more time developing talent to build capacity for the future?

A fifth major factor includes succession - sometimes the owner/operator of the company is doing so many of these functions or managing so many direct reports that a clean succession is nearly impossible.  


Schedule a call with us to see if this makes sense for your organization




4 Elements of Commander's Intent
Effectively execute your strategies across the whole organization while allowing your team the flexibility to adapt for the specific conditions they are facing.
Succession and Choosing 3rd Party Advisors
Most contractors have gone through the succession process zero times. Choosing the right team of advisors will help you effectively explore options and refine the details of your specific succession.
Resource - Negotiation (3 Prerequisites + 4 Perspectives)
Negotiation skills will enhance nearly everything your management teams do from winning work through building the project to working with your bank and surety. This is a collection of the best resources we've used to build these capabilities.