Construction Business Management

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Product Description

Only 43 per cent of U.S. construction firms remain in business after four years. Why? Inadequate management, according to the U.S. Small Business Administration. This is surprising because most construction firms are formed by ambitious construction project managers, executives and tradesmen who have excelled at what they have been doing. But as experienced as these entrepreneurs may be, they are not likely prepared to take on the full range of responsibilities forced on them in managing the business of construction in its entirety.

While this business failure rate and its causes are based on U.S. experience, available data from a number of other industrialized countries shows they are similar.

This book describes in detail what the business side of the construction equation requires of the construction firm owner. The contractor who quickly learns these requirements can identify and avoid or manage around the pitfalls that cause the high failure rate in our industry and put his or her construction firm on a level playing field with the best-run companies in the business. The detailed duties of the owner, whether in the U.S., U.K., Australia or Canada, are a common theme throughout the book.

The author, Nick Ganaway, speaks peer-to-peer, and the book is sprinkled with supporting examples from his own experience. He is immersed in the industry and this book is "based on the things I've learned, used, and refined as a light-commercial general contractor in the course of starting and operating my own construction firm for 25 years." The contractor doing $5 million or $50 million or more in annual sales or the equivalent amount in other countries, or the entrepreneur who is just starting up, can use the tried and proven material in this book to build a business that is profitable, enjoyable, and enduring.

Additionally, the book devotes a chapter to specializing in chain-store construction.

Construction Business Management Review

Upon graduation from Georgia Tech's building construction program in 1982, I went to work for Nick Ganaway. One of the many reasons I selected his company was his obvious knowledge of business. Even more, I appreciated the motivation he placed in us (and himself) to always become better as contractors and as businessmen. We met frequently to "log in" new discoveries, efficiencies, risks, and methods of profitability that he had wisely accumulated for us. As I "ventured out" into the world and developed my own business with very little experience, I quickly noticed that although I was a "great" project manager that running a construction company was an entirely different issue. For example, do you understand the unique requirements of the construction firm owner? Terms in the project owner's construction agreement that can unfairly shift major risk onto your plate and what to do about them? How to ensure that you get paid for change orders? What to do when hard times suddenly strike (and they will)? After 25 years of experience in operating a commercial construction company, Mr. Ganaway explains chapter-by-chapter these and every other risk area you must manage if you are going to survive in construction. I know these explanations well as they ring in my mind from discussions with Mr. Ganaway concerning my very first projects and through calling for help with running my own construction business. You will feel like you're having these same discussions with him as you read this book. Every contractor, project manager, and construction student should read it. Today I use this very text to teach our students at Georgia Tech's building construction program how to run a business, as well as consulting in the same area. His principles work!

An added bonus to this text is the final chapter, where Mr. Ganaway makes the case for specializing in chain store construction. To "outsiders" who have not reviewed this market segment, I think you will be surprised at the benefits. If you are not already specializing in a niche market, this chapter is sure to start you thinking about it.

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