7 MISTAKES CONTRACTORS MAKE, CONSTRUCTION PM PRINCIPLES No. 55

"Welcome to the Tom Stephenson channel! In today's video, we're delving deep into the world of contracting with '7 Mistakes Contractors Make.' Whether you're a seasoned general contractor overseeing large-scale projects or a subcontractor handling specialized tasks, avoiding these common blunders is crucial for the success of your business. The 7 mistakes include not charging enough, not choosing clients carefully, not tracking costs effectively, not finishing fast enough, not dealing with change orders correctly, not managing cash flow, and not managing growth effectively. Each of these pitfalls can have a significant impact on your bottom line and reputation in the industry. Join us as we uncover these critical errors and provide practical insights to help you navigate the complex landscape of contracting. Stay tuned to ensure your business thrives in the competitive construction market!"
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Tom Stephenson is a national award-winning professor (George Brown College, University of Toronto) and best-selling author whose background in education spans nearly three decades. His diverse teaching disciplines include construction project management, business management, human resource management, architecture, carpentry, and brick and stone masonry. As a dual-professional, Tom is called upon by industry leaders to translate knowledge, reinvigorate corporate culture, and inspire innovation in emerging and established companies across Canada. Before breaking into the academic realm, Tom acquired more than a decade of practical project-management experience, operating a mid-sized Toronto-based general contracting firm. He is also the author of the newly released Planning, Scheduling, and Control of Construction Projects with American Technical Publishers and the four best-selling editions of Understanding Construction Drawings for Housing and Small Buildings with Nelson Publishing Canada. Tom most recently received the Toronto Construction Association’s 2020 Chancellor’s Award for “helping his peers become more ethical, knowledgeable and professional.” A champion of change management, Tom takes pride in helping students and businesses navigate uncharted territories, take calculated risks and rise above the status quo. Some of the companies he’s worked with include Mattamy Homes, EllisDon, BIRD Construction, MCA, Maple Reinders, and Tucker HiRise, University of Toronto Project Managers.

[@simoncentaur5150]

Every person even considering starting a construction company needs to study and master these 7 steps. Your Dad and I had to learn the hard way. Thanks for all the time and effort you put into making these educational videos. Simon

[@TomStephensontraining]

Thanks so much Simon by the way that was my dad’s name 😀

[@KhalidKhan-yc4yu]

Out company facing conflect from long time with contractor on these point. We are focusing on this mistak. Thanks for sharing

[@TomStephensontraining]

You are very welcome Khalid!

[@bernardgarrett3897]

Great Video. I completely agree with all your points.

[@TomStephensontraining]

Thanks Bernard, yes when you see them and experience them it is difficult not to learn from them. Nevertheless things still missed