The events of 2020 were a shake-up of business as we know it. The hit was uneven among construction contractors, with some firms seeing a large reduction in business and other firms experiencing a significant increase. Regardless of their market, though, all of the contractors I was in touch with over the past year had to work hard to adjust to changes in workflow, safety procedures, ways of meeting with clients, and most important of all, how they managed their cash flow and debt, priced their jobs, and monitored their financials. Resoundingly, all had to go back to the basics of business and take a hard, analytical look at what success would mean for their companies in the near- and long-term. This article is a summation of the lessons learned.
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