Jan 10, 2025
This Podcast Is Episode 610, And It's About Practical Applications Of A Must-Read Book Into Your Small Business
It's amazing how some books stand the test of time. We usually
refer to one of our most recommended, Stephen Covey's The 7 Habits
of Highly Effective People, when we mentor our contractor clients
and employees. Although it was first published three decades ago,
its lessons are still incredibly relevant for business owners. You
might wonder – how these habits fit into today's landscape of
changing trends, tight deadlines, and constant distractions. The
short answer is that they're timeless because they focus on
principles that help you stay grounded while growing your
construction business.
Below, we'll break down some of Covey's key habits and explore
how you can bring them to life in your business today. Think of
this as your blueprint for thriving in the chaos, not just
surviving it.
1. Be proactive – the
power of owning your choices
Covey's first habit, "Be Proactive," is about owning your life
and decisions. For business owners, this means focusing on what you
can control instead of stressing about what you can't.
Here's the thing about being reactive—it's debilitating.
Complaining about a slow economy or frustrated customers doesn't
solve anything, but switching to a proactive mindset is a game
changer.
- Anticipate potential challenges before they become disasters. For instance, if team morale starts to dip, address it early with open communication or team-building initiatives.
- Focus on solutions, not problems. Instead of dwelling on a client who backed out, consider what adjustments in your sales process could improve retention.
- Teach your team the same mindset. An empowered team that problem-solves proactively is a considerable asset.
Proactive leadership doesn't just keep you afloat; it helps
you adapt and innovate in a competitive landscape.
2. "Begin with the end
in mind" - set clear goals
This one often hits deep because how many rush into a workday
without a clear direction? Covey's second habit reminds us to
define our goals before taking action.
If you're running a business, you have to think long-term.
What kind of company culture are you building? What legacy do you
want to leave behind? Once you're clear on those things, aligning
your daily tasks and decisions with the bigger picture becomes
easier.
- Create a vision statement that both you and your team can rally behind.
- Before launching a new service, ask, "What does success look like?" and "How does this align with our core mission?"
- Use goal-setting frameworks like OKRs (Objectives and Key Results) to ensure everyone in the business knows where they're headed.
Think of this habit as your compass. Without it, you're likely
to work hard but still feel lost.
3. Put first things
first – manage your time
Quick question – how often do you find yourself buried in
"urgent" tasks, only to acknowledge at the end of the day that you
didn't touch what's important? That's where Covey's third habit,
"Put First Things First," shines. It's all about distinguishing
between urgent and truly important, then acting accordingly.
- Use Covey's Time Management Matrix. Focus on tasks that fall into Quadrant II – essential but not urgent (strategic planning, team development, or building new partnerships).
- Delegate or eliminate tasks that don't move the needle. Not everything deserves your attention.
- Start each day by asking yourself, What's my biggest priority? If I do nothing else today, what task absolutely must get done?
When you focus on what truly matters, you'll feel less like
you're playing catch-up and more like you're moving forward.
4. Think win-win –
building mutually beneficial relationships
Business isn't a zero-sum game. Covey's fourth habit, "Think
Win-Win," pushes us to find solutions that benefit everyone
involved—clients, employees, and business partners. It's the
foundation of trust and collaboration.
- Negotiate with empathy. During discussions, consider the other party's needs and goals and find a compromise that works for everyone.
- For your team, create opportunities where employees feel empowered and valued. A win-win work culture keeps talent engaged.
- Innovate with your customers in mind. Ask how you can provide more value to them – and watch how that mindset leads to loyalty and referrals.
Win-win isn't always the easiest route, but it pays off in the
long run.
5. Seek first to
understand, then to be understood – empathetic
communication
Have you ever been in a meeting where everyone is talking, but
no one is actually listening? Covey nailed it when he discussed the
importance of understanding others before getting your point
across.
Empathetic communication is one of the most valuable tools for
construction business owners. Whether with a frustrated client or a
team member struggling with workload, truly listening builds trust
and clarity.
- Pause during tough conversations and fully grasp the other person's perspective before responding.
- Use active listening techniques like paraphrasing or asking thoughtful follow-up questions.
- Encourage this habit in your team to strengthen collaboration
and reduce misunderstandings.
The better your communication, the stronger your relationships
– and a thriving business is built on great relationships.
6.
Synergize
Combine the strengths of diverse team members to achieve
innovative solutions. In construction, this can mean leveraging the
unique skills of various trades to enhance project efficiency.
Encourage collaboration through joint problem-solving sessions,
where team members can share ideas and work together on challenges.
The combined efforts of a well-coordinated team can lead to
exceptional results.
7. Sharpen the
Saw
Invest in the ongoing development of yourself and your team.
This includes professional training, certifications, and wellness
initiatives to ensure everyone functions at their best. Encourage a
culture of continuous improvement through workshops and
skill-building exercises. Regularly reassessing and refining
processes keeps your business adaptive and innovative in a
competitive market.
What makes "The 7 Habits of Highly Effective People" priceless
for construction business owners today? Its focus is on principles
over trends. Trends come and go, but these habits ground you in
what truly works – proactive leadership, clear goals, thoughtful
planning, and fostering meaningful relationships.
Adapting these habits to your daily life won't happen
overnight, but even small shifts can create momentum. Pick one
habit to focus on this week, cultivate a proactive, goal-oriented,
collaborative environment, and see how it transforms your
leadership and business growth.
Remember, no matter how fast the business world moves, the
principles in this book will always hold relevance. They don't just
make you more effective – they make you a better leader,
decision-maker, and collaborator. So whether you need an excellent
book or a knowledgeable bookkeeper, we are here to help.
About The Author:
Sharie DeHart, QPA, is the co-founder of
Business Consulting And Accounting in Lynnwood, Washington. She is
the leading expert in managing outsourced construction bookkeeping
and accounting services companies and cash management accounting
for small construction companies across the USA. She encourages
Contractors and Construction Company Owners to stay current on
their tax obligations and offers insights on managing the remaining
cash flow to operate and grow their construction company sales and
profits so they can put more money in the bank. Call 1-800-361-1770
or sharie@fasteasyaccounting.com