Boom Times and Contractor Business Succession

[et_pb_section fb_built=”1″ _builder_version=”3.22″][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.5.7″ hover_enabled=”0″]While crazy materials prices and the specter of inflation may give us pause, it looks like pretty rosy times for the construction industry for the next couple of years. That’s a good thing, right?

Well, yes and no. We’re all grateful that last year’s steep, sudden recession has been almost ameliorated and that the construction is set, once again, to boom. However, boom times create challenges of SUCCESS. Success breeds problems which are very different from the challenges of recession or decline, but they’re challenges nonetheless – in particular when it comes to business succession planning.

Please tune in this week as Wayne advises to watch out for the three dangers of boom times as they relate to your succession plans – make sure you have a strategy and stick to it! We’d love to hear your feedback in the comments section.

A new Contractor Business Boot Camp class starts on Oct 21st, 2021 in Raleigh. Invest in your rising high-potential leaders and prepare them for the leadership skills they’ll need to excel. Please contact Charlotte at ckopp@familybusinessinstitute.com to learn more about the program and the limited time early bird pricing.

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