Construction Business Management
Nick B. Ganaway
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Most general contracting firms start small—formed by smart and ambitious construction project managers, executives, tradesmen, and occasionally even students right out of construction training, but as accomplished as they may be at what they’ve been doing they are not likely prepared to take on the range of responsibilities forced on them in managing the business of construction in its entirety. I believe this is the primary reason for the high four-year failure rate that start-up contractors in the United States face. According to research published by the Office of Employment and Unemployment Statistics, US Bureau of Labor, by Amy E. Knaup, only about 43 percent of US construction firms that started up in the second quarter of 1998 were still in business four years later.
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- Do you have what it takes?
- Your role as owner of your construction f irm
- Sales, marketing and business development
- Creating customer loyalty
- Business considerations
- Controlling your f inances
- Bidding
- Building it
- Accounting and record keeping
- Contract terms and conditions
- You and your employees
- You and your subcontractors
- Banking and finance
- Insurance and bonds
- Specializing in chain store construction
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