Contract Surety

New Year, New You? 

01.16.2025

 

Most construction business owners start their companies with a passion for building, and probably bring a particular area of expertise too. Makes total sense. Here’s the hitch though: successfully growing the business usually requires hiring people who surpass our abilities. Though this can be scary, “hiring up” is often the secret sauce. 

Hiring: Help or Exponential Growth?

At Construction Business Expert, Shawn Van Dyke points out that a focus on being THE expert is a mistake that keeps many construction business owners spinning as they answer every question and put out every fire, instead of doing their most important work—-growing the business

 

There’s a line in every business that’s defined by the owner’s abilities.When you hire people below your line or your abilities, then you get some help.But when you hire people and create systems above your line…,then you get freedom.You don’t have to be the expert….Don’t be afraid to be the dumbest person in the room. When you surround yourself with people smarter than you, you’ll achieve your goals much faster and with more profit….When you hire below the line, you’re stuck as the bottleneck of your business. You may have the knowledge to crunch the numbers and do the estimating, but if those aren’t your strengths, then hire someone who loves to crunch numbers and is a nerd for spreadsheets…..The faster you find those people and put them in charge of the stuff you don’t like, the faster your business will grow.

 

Although hiring targeted expertise is a bigger expense than hiring“helpers,”strategically doing so is likely the path to sustainability and growth. Van Dyke encourages owners not to be scared off by the investment of time and money involved in hiring “above the line,” underscoring: 

 

If you bring in the right person, they will pay for themselves. Trying to do everything yourself hampers your growth and costs you money in the long run….Hiring an expert gives you the freedom to focus on the future of your business. When was the last time you put your feet up on your desk and thought about what comes next for your business?Thinking about your business should be an appointment on your weekly calendar, but it’s nearly impossible when everyone is looking to you for answers.Hire experts, and you’ll get your time back.Your stress level will decrease, and you’ll create freedom for you and your family. 

 

Construction company owners seeking more tips and guidance on hiring and growing the business may find these tools and resources from Van Dyke helpful. 

 

Ready To Move Ahead?

One emerging role in construction that may be worth considering for a growing business is project coordinator. Though not a new position, technology has dramatically changed the possibilities of what can be accomplished by a project coordinator ready to tackle these kinds of responsibilities:

 

 

  • Utilizing project management software (e.g., Procore, Fieldwire, PlanGrid, BuilderTrend, Autodesk Construction Cloud, Oracle Primevera) to streamline project management intake; set deadlines for deliverables; create and upload side-specific documents; and maintain ongoing coordination, communication, and collaboration with project execution teams 
  • Managing budgets, identifying potential construction overruns, and monitoring project plans
  • Preparing estimators’ proposals, RFI, and RFQ requests 
  • Red-lining drawing and markups and RFIs; building permit tracking systems
  • Serving as liaison between project team and clients throughout project lifecycle 
  • Working with manufacturing (e.g., third-party prefabrication vendors) to resolve scheduling problems and adhere to QA standards 
  • Managing quality assurance checks and internal audits 
  • Executing project management administrative and bookkeeping tasks (e.g., managing invoices, purchase orders, inventory reports, and other financial documents)
  • Assigning tasks to team members and helping them understand expectations for project milestones and deliverables 
  • Scheduling stakeholder meetings, documentation, and reports 

 

 

Efficient, effective project coordination, which adroitly leverages technology,leads to successful project completion, and, as Construction Business Owner reminds us: “The companies that make even small moves away from manual processes stand to gain a competitive edge. They will be able to do things faster, use fewer manual resources, and make more strategic and informed decisions.”

 

What’s your first step toward bigger results this year? Why not take control over your bids and bonds? Once qualified for The Partnership Account® for Contractors, you are in the driver’s seat with your line of credit, in writing, and your own digital dashboard, which you can use to:

 

 

  • issue your own bonds in minutes with our power of attorney
  • adjust bids
  • update works in progress
  • obtain additional credit
  • get speedy performance and payment bonds 

 

Let’s Get You Growing:

Pre-Qualify Now

This video highlights the benefits of The Partnership Account®, and will give you a good feel for how it all works—easily and efficiently.

Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.