For every builder who has made and kept a fortune, there are a hundred who made one and lost it, some several times. When business is good, decisions are made as if the money will continue forever, but construction is a business of cycles, and when work slows a company's weakness shows quickly as its financial obligations overwhelm it. Learn to manage money. Take classes, read books, set long-term goals, study business cycles, and understand what it means to overextend. In good times and bad be conservative—even frugal—control spending, keep overhead low, keep loans to a minimum, establish and fund a cash reserve account, and build assets.
EOB, Rules, Ethics, & Opinions