For example, a construction company is a great start to achieve what you want. But, it is limited in net profit margin potential, as it is very cyclical with thin margins.
In my opinion, owning a construction company creates an excellent chance to seek wealth-building opportunities versus just building for others.
They don't fire the players-they fire the head coach.
And most of the coaching staff gets let go as well.
The players were also loosely told what position to play, who would run which way, whose job it was to block and where they were to go—not a very good strategy for a winning outcome. Is your business strategy better than a neighborhood football game? Do you tell your players what to do before every project?
Do they know what to do based on written systems and strategies from your company playbook?The quarterback usually called the plays, even though he wasn't always the smartest player on the team.He was usually the one who was the tallest, fastest or had the best arm.What is your overall company mission, vision and values?When a professional sports team is not winning many games, what happens?I often ask business owners why they are in business.Their typical answer is to make money doing whatever they do, such as plumbing or construction.In order to build a winning team, you must surround yourself with the best managers possible. I recently spoke at a national association of material distributors where a successful business owner approached me and stated his goal was to double his company to million in sales over the next 5 years.He loved selling and wanted to try to find someone who could run the operations side of his company.Sit down with your key managers and take time to discuss why you are in this business and why you own your own company.This exercise will get you focused on the real reason you go to work everyday.