526: Becoming A Better Construction Company Owner By Developing Courage

This Podcast Is Episode Number 526, And It's About Becoming A Better Construction Company Owner By Developing Courage

Fear is a natural, emotional response to distress. The evolution of humanity was dependent upon feeling and responding to fear. Unfortunately, for some of us, fear is a stumbling block to unlocking our full potential and becoming great leaders. 

Fear can have a significant impact on business activities. If a business owner is afraid of taking risks or making decisions based on past negative experiences, it can hinder their success. It's important to remember that fear is often based on False Evidence Appearing Real or F.E.A.R. It's crucial to approach business decisions objectively and not let fear cloud judgment. By recognizing and addressing fear, business owners can make informed decisions that lead to success.

The good news is that courage is like a muscle, and when you exercise courage, it often becomes more robust and more natural. Here are a handful of ways to overcome fear, find courage and become a better construction company owner.

1. Don't lose your sense of direction

If you struggle to lead in your construction business or manage your employees, staying connected to your purpose for making your decisions is essential. If you lose your sense of direction, the people you are leading may begin to question your ability and authority. When giving instructions to someone you are charged with leading, be specific about what needs to be done and why.

2. Visualize all of the possible outcomes

Visualizing a negative outcome may seem counter-intuitive to building courage; however, realizing that the worst that could happen is not fatal in most situations is incredibly beneficial. Conversely, visualizing a positive and prosperous outcome can give you the bravery to make risky choices and stand behind them occasionally.

3. Be willing to do what other leaders won't

If you are surrounded by leaders who continually play it safe but are sensing a need to take the road less traveled and make a bold decision, be willing to do it! The fear of people around you disapproving of your choices can be crippling. But the sense of pride when you carefully calculate your options and make a bold choice that turns out well, will strengthen your sense of courage.

4. Carefully consider the opinions of people around you

You don't need to allow yourself to be persuaded by the opinions of others in any way, but occasionally a new view from someone with less experience can bring new life into your construction business. Don't let your employee's inexperience cause you to overlook the great ideas they may occasionally have. Be willing to do things someone else's way occasionally bravely, and your courage will undoubtedly increase.

5. Be willing to commit to success

Have the inner strength and courage to keep going even when things get tough because you know that everything will work out in the end; if something has not worked out yet, it is not the end.

6. Make the hard decision and say "no"

As uncomfortable as it can be to shut down someone's idea, it is necessary sometimes. Next time someone has an opinion you are completely uncomfortable with, respond by telling them no. Often, no explanation is better than a long explanation when you disagree with a person's idea. As a leader, it is right to go with your gut instinct and override decisions you disagree with. Saying no to bad ideas will increase your courage and even the level of respect your employees have for you.

As you can see, building courage is not a complicated process. Building courage is simply taking small steps in your daily life and being unapologetic about doing what you know is right. If you are willing to commit to taking the above steps as a leader, you will soon become more confident in your decisions! Many leaders struggle to feel courageous regardless of their time leading.

Fear on all sides

Contractors without financial reporting systems they can trust to generate accurate Key Performance Indicators and Reliable Job Cost Reports do not know if they are making or losing money from day to day, which leads to doubt which leads to stress, and they tend to work faster and harder. This frantic behavior raises everyone's stress level, affecting your team, project, and client.

Contractors are superheroes! What is your Contractor Superpower? The power of choice. 

Increase your pricing Which projects do you say YES to Collect job deposits Ask the client for money Your working hours The area of the country where you want to live

You can choose what is best for you, your loved ones, and your construction company.

It is easy to listen to the news and become depressed, agitated, or think the day's challenges are hopeless to overcome. Mother Teresa (of Calcutta) said it best: We, the willing, led by the unknowing, are doing the impossible for the ungrateful. We have done so much, with so little, for so long; we are now qualified to do anything with nothing.

Final thoughts

The rough and tumble world of construction company ownership is not for the weak or the timid. It is an arena where the price of admission is a lot of blood, sweat, tears, long nights, and lost sleep, with peaks of enthusiasm and depths of despair. It can feel like riding a roller coaster operated by a madman trying to convince you to get off, get out and do something more relaxing, like teaching a pig to sing!

With careful planning and a solid strategy, you can overcome any obstacles that come your way. Don't be afraid to take risks and think outside the box. Remember, the greatest successes often come from taking bold actions. So be brave, stay focused, and keep pushing forward. Your construction business dreams are within reach!

Life is a journey that happens one day at a time, one decision at a time, one choice at a time. Tomorrow is a new day with every potential of being happier if we allow it. We will continue empowering and advocating for contractors and construction business owners like you.

About The Author:

Sharie DeHart, QPA, co-founded Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com