Contractors do not fail for a lack of great construction skills. Contractors fail for a lack of good business skills. Contractors are really technicians or trades-people. They have mastered the construction skills very well, the skills required to do the actual construction work, but when it comes to being proficient with the business end, they fail miserably. Being a contractor entails a lot more than construction skills.
Construction is really a business.
It must have a specific purpose with established goals and effective systems in place to be profitable. Your business is really about making money and when you re not as proficient as you should be in making money, you are not really being as successful as you should be, therefore you are failing in a sense. Too many contractors where so anxious to have their own business, they failed to master basic business skills. At first, it wasn t really important. Hard work and long hours made up the difference.