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Countless small business owners believe that practical competency will lead to success in business. Though some degree of technical know-how is unquestionably necessary, it rarely is sufficient for success.

A construction worker may be talented at building decks, or installing siding, or changing doors. However, there is a great deal more involved in operating a business than these specialized skills. A business entails accounting and finance, marketing and sales, production and delivery, management and administration, and a great deal more. A business calls for a broad skill set to operate successfully.

Undoubtedly these expertise can be outsourced. An accountant may be hired to do the books. A graphics artist may be hired to create promotion resources. A salesman may be hired to produce revenues. An office manager may be hired to supervise office activities. However, in most situations, the company owners wears all of these hats and more.

Regardless, the owner has to possess some amount of knowledge concerning these areas of the business. He is the ultimate authority, and lacking a practical level of understanding he will be powerless to make reasonable judgements. In other words, his trade specific expertise will not help him when he must make decisions concerning accounting or advertising.

The failure to gain this skill set-whether by learning himself or by hiring others-is the downfall of countless small companies. And the most effective moment to obtain these competencies is before you start a contracting company.

To use a sports analogy, the owner of the business is the head coach. The most successful head coach is not an authority on each aspect of his game. His primary responsibility is to employ professionals, entrust responsibilities, and then coordinate the total team. He is responsible for the final judgments, but he doesn’t need to micromanage each aspect of the team.

This is true even of those coaches who were outstanding athletes, that is, excellent technicians. A great player will not automatically make a fine coach-the two roles involve immensely different abilities.

The coach must be able to strategize, coordinate, teach, support, and lead. The same is true of a business owner.

To do this, the owner of a contracting business has to have certain business skills. You must have the ability to evaluate specific data, comprehend its meaning, and make judgements. You have to clearly distinguish the results that you want and how to achieve them. You have to combine the short-term requirements of your construction company with your long-term objectives. You should plan.

Once more, the time to do this is before you start a contracting business. Just as you wouldn’t embark on a lengthy road trip lacking a plan, you shouldn’t embark on the journey of starting a business without a map. Without a map, you might never get where you desire to go.

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