fbpx

Why smart operators won’t be able to push past the tipping point in their business.

/

Why smart operators won’t be able to push past the tipping point in their business.

In many ways the hardest lesson for a successful business owner to learn is that the very attributes that got you to where your business is today won’t get you through the next phase. In short, your blood, sweat and tears won’t be enough anymore.

Can you remember the “good old days” when you spent a buck on the business and made two? How about that feeling of euphoria, when you felt 10 feet tall and bulletproof? This is what reward for hard work feels like, with plenty of money around for a splurge or two like a boat or maybe a new SUV?

It’s hard to understand sometimes how a business that’s so rewarding can descend into frustration. It’s even harder to grasp that it’s not just about you as owner working harder or trying to understand and control every aspect of the business. Or maybe if you’re honest with yourself you’ve gone the other way and become a bit disengaged with the business with its never-ending issues.

The bad news is that if this situation is not addressed, the frustration will grow into Stress. You might find yourself wishing that you could just go back to the “good old days” when business seemed much easier, even though in your heart you know you need to take on the challenge of resolving the current situation.

The good news is that there’s a tried and tested formula for moving forward. Your business needs a solid foundation that supports the next stage of sustainable growth. What this looks like is a skills upgrade for the business and for the owners. What this feels like for you as owner is a major shift in your responsibilities.

You can figure this out the hard way and suffer the consequences in terms of wasted effort and lost opportunity. Or you can learn about the formula, apply it to your business, feel proud about your achievement and add this to your kit bag of business expertise.

Looking for more information on pushing past the tipping point? I cover this in more detail in my e-Book “A roadmap to sustainable growth” – what have you got to lose except five to seven business years – on average – feeling lost and disillusioned?

Peter Wilkinson | Tipping Point, an initiative of SamWilko Advisory
Article By Peter Wilkinson
Director – Tipping Point Advisory
Peter Wilkinson founded SamWilko Advisory in 2012 to address capability challenges in the Engineering and Construction industry.
Over 30 years in the private and public sectors Peter has seen many good small and medium sized enterprises in the industry fail to transition through the “tipping point” to become great businesses.
He has also seen many successful tenders badly transitioned into the project phase and a host of major projects fail to get off the ground quickly enough.
The cost to business in terms of lost time and opportunity translates to hundreds of millions of dollars.
What’s the common thread? It’s all about Strategy. Knowing what needs to be done, but more importantly knowing the order in which each task or project needs to be done, is the essence of a successful and well-executed strategy.
There are more effective ways to grow great businesses, win bids and deliver successful projects.
Peter Wilkinson draws on over 30 years of experience as a consulting engineer, project advisor and business mentor in offering leadership, project advisory and coaching services.

How we can help

Search for experienced contractors, consultants and suppliers throughout the major construction industry. Access to an exclusive business directory of 6,000+ verified companies that are experienced in Tier 1, Tier 2 and Tier 3 projects

Recent Posts

March 9, 2020

Why is good after service essential in construction?

February 24, 2020

What makes a construction project successful?

August 23, 2021

10 reasons your construction project is losing money