Designed to Fail: Why 80% of Construction Businesses Have No Value | E258

EPISODE 258: Why do 80% of construction businesses have zero terminal value? How are they designed to fail? What are some lessons from IBM and old iPhones? What can you do to avoid spending 30 years building something you can’t let go of?

What you’ll take away from this construction podcast episode:

• Why 80% of construction businesses will never sell.
• An example of a very profitable construction business that was designed to fail.
• How a business can be like a hostage situation.
• A few indicators that your business is a victim of planned obsolescense.
• How your business will be valued when you try to sell it.
• 3 reasons IBM was successful.
• What “right to left thinking” looks like for big picture strategic planning.
• 6 mistakes to avoid so you don’t spend the next few decades building something that’s unintentionally designed to fail.

Resources mentioned in this construction podcast episode:

Get Out of Your Business: Make it Run Without You This Year: Free online training workshop - www.constructionleadingedge.com/getout

Apply to Work with Our Team to Systematize Your Construction Business: www.constructionleadingedge.com/apply

Raken - Get the data you need to build better projects with an app your field crews will actually use - https://www.rakenapp.com

Hover - Accurate measurements, collaborative design tools, and dependable estimates are all ways HOVER helps you serve your customers better and improve your operations to grow your business. https://hover.to/