610: Practical Applications Of A Must-Read Book Into Your Small Business

This Podcast Is Episode 610, And It's About Practical Applications Of A Must-Read Book Into Your Small Business It's amazing how some books stand the test of time. We usually refer to one of our most recommended, Stephen Covey's The 7 Habits of Highly Effective People, when we mentor our contractor clients and employees. Although it was first published three decades ago, its lessons are still incredibly relevant for business owners. You might wonder – how these habits fit into today's landscape of changing trends, tight deadlines, and constant distractions. The short answer is that they're timeless because they focus on principles that help you stay grounded while growing your construction business.   Below, we'll break down some of Covey's key habits and explore how you can bring them to life in your business today. Think of this as your blueprint for thriving in the chaos, not just surviving it.   1. Be proactive – the power of owning your choices   Covey's first habit, "Be Proactive," is about owning your life and decisions. For business owners, this means focusing on what you can control instead of stressing about what you can't.   Here's the thing about being reactive—it's debilitating. Complaining about a slow economy or frustrated customers doesn't solve anything, but switching to a proactive mindset is a game changer.   Anticipate potential challenges before they become disasters. For instance, if team morale starts to dip, address it early with open communication or team-building initiatives. Focus on solutions, not problems. Instead of dwelling on a client who backed out, consider what adjustments in your sales process could improve retention. Teach your team the same mindset. An empowered team that problem-solves proactively is a considerable asset.   Proactive leadership doesn't just keep you afloat; it helps you adapt and innovate in a competitive landscape.   2. "Begin with the end in mind" - set clear goals   This one often hits deep because how many rush into a workday without a clear direction? Covey's second habit reminds us to define our goals before taking action.   If you're running a business, you have to think long-term. What kind of company culture are you building? What legacy do you want to leave behind? Once you're clear on those things, aligning your daily tasks and decisions with the bigger picture becomes easier.   Create a vision statement that both you and your team can rally behind. Before launching a new service, ask, "What does success look like?" and "How does this align with our core mission?" Use goal-setting frameworks like OKRs (Objectives and Key Results) to ensure everyone in the business knows where they're headed.   Think of this habit as your compass. Without it, you're likely to work hard but still feel lost.   3. Put first things first – manage your time   Quick question – how often do you find yourself buried in "urgent" tasks, only to acknowledge at the end of the day that you didn't touch what's important? That's where Covey's third habit, "Put First Things First," shines. It's all about distinguishing between urgent and truly important, then acting accordingly.   Use Covey's Time Management Matrix. Focus on tasks that fall into Quadrant II – essential but not urgent (strategic planning, team development, or building new partnerships). Delegate or eliminate tasks that don't move the needle. Not everything deserves your attention. Start each day by asking yourself, What's my biggest priority? If I do nothing else today, what task absolutely must get done?   When you focus on what truly matters, you'll feel less like you're playing catch-up and more like you're moving forward.   4. Think win-win – building mutually beneficial relationships   Business isn't a zero-sum game. Covey's fourth habit, "Think Win-Win," pushes us to find solutions that benefit everyone involved—clients, employees, and business partners. It's the foundation of trust and collaboration.   Negotiate with empathy. During discussions, consider the other party's needs and goals and find a compromise that works for everyone. For your team, create opportunities where employees feel empowered and valued. A win-win work culture keeps talent engaged. Innovate with your customers in mind. Ask how you can provide more value to them – and watch how that mindset leads to loyalty and referrals.   Win-win isn't always the easiest route, but it pays off in the long run.   5. Seek first to understand, then to be understood – empathetic communication   Have you ever been in a meeting where everyone is talking, but no one is actually listening? Covey nailed it when he discussed the importance of understanding others before getting your point across.   Empathetic communication is one of the most valuable tools for construction business owners. Whether with a frustrated client or a team member struggling with workload, truly listening builds trust and clarity.   Pause during tough conversations and fully grasp the other person's perspective before responding. Use active listening techniques like paraphrasing or asking thoughtful follow-up questions. Encourage this habit in your team to strengthen collaboration and reduce misunderstandings.

The better your communication, the stronger your relationships – and a thriving business is built on great relationships.   6. Synergize   Combine the strengths of diverse team members to achieve innovative solutions. In construction, this can mean leveraging the unique skills of various trades to enhance project efficiency. Encourage collaboration through joint problem-solving sessions, where team members can share ideas and work together on challenges. The combined efforts of a well-coordinated team can lead to exceptional results.    7. Sharpen the Saw   Invest in the ongoing development of yourself and your team. This includes professional training, certifications, and wellness initiatives to ensure everyone functions at their best. Encourage a culture of continuous improvement through workshops and skill-building exercises. Regularly reassessing and refining processes keeps your business adaptive and innovative in a competitive market.   What makes "The 7 Habits of Highly Effective People" priceless for construction business owners today? Its focus is on principles over trends. Trends come and go, but these habits ground you in what truly works – proactive leadership, clear goals, thoughtful planning, and fostering meaningful relationships.   Adapting these habits to your daily life won't happen overnight, but even small shifts can create momentum. Pick one habit to focus on this week, cultivate a proactive, goal-oriented, collaborative environment, and see how it transforms your leadership and business growth.   Remember, no matter how fast the business world moves, the principles in this book will always hold relevance. They don't just make you more effective – they make you a better leader, decision-maker, and collaborator. So whether you need an excellent book or a knowledgeable bookkeeper, we are here to help.

About The Author:

Sharie DeHart, QPA, is the co-founder of 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