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With a daunting industry-wide business failure rate, construction professionals need to manage risk and finances as effectively as they manage projects and people. The Secrets to Construction Business Success empowers contractors and other professionals to defy the long odds threatening their stability, growth, and very survival. Drawing on the authors' more than eight decades of combined experience turning around failing firms, this book provides a masterclass in structuring, managing, and futureproofing a construction business. Chapters on measuring and responding to dips in revenue equip executives to recognize and respond to the warning signs of financial distress while chapters on succession planning ensure that organizations survive their founders' departures. Sample documents and tools developed for the authors' consulting practice offer field-tested solutions to organizational structure, forecasting, and accounting challenges.
A steady source of guidance in an industry with few constants, The Secrets to Construction Business Success makes an invaluable addition to any industry leader's library.
List of contents
Chapter 1. The Basics of Construction Business Success
Chapter 2. Organizational Structure
Chapter 3. Business Planning
Chapter 4. Flexible Overhead
Chapter 5. Using Financial Data
Chapter 6. Measuring Financial Risk
Chapter 7. Financial Distress – Turnaround Management
Chapter 8. Recognizing and Managing Risk
Chapter 9. Entering New Markets
Chapter 10. Project Selection
Chapter 11. Managing Subcontractors and Equipment
Chapter 12. Customer Service
Chapter 13. Construction Industry Consolidation
Chapter 14. Construction Industry Consolidation
Chapter 15. The Construction Company Lifecycle
Chapter 16. Succession Planning
Chapter 17. Professional Development
About the author
Thomas C. Schleifer, PhD, is a turnaround expert and the founder of the largest international consultancy firm serving the contract surety industry. He was also an Eminent Scholar at Arizona State University’s Del E. Webb School of Construction. He joined the construction industry at age 16 and has amassed more than 60 years of experience. This combination of practical, hands-on experience as a contractor and assisting financially distressed companies has given Dr. Schleifer a unique perspective on the causes of business failure and how to avoid them.
Mounir El Asmar, PhD, is Associate Professor at Arizona State University’s Del E. Webb School of Construction and Co-Director of the National Center of Excellence on SMART Innovations. His non-traditional background in civil engineering, mechanical engineering, construction, economics, and business, provides him with an understanding of a variety of facets imperative to advancing today’s engineering and construction industry. Dr. El Asmar’s work has supported decision-making for governments and private organizations in the U.S., Canada, Europe, and the Middle East.
Summary
The Secrets to Construction Business Success provides a masterclass in structuring, managing, and futureproofing a construction business.
