41 - Diligence and Discipline: How to Overcome Pride and Fear and Select Profitable Projects

Doug Reitz, President of Mark Wilson Construction returns to the show to discuss the project selection process he and his team use to procure profitable work.  Throughout Doug's career in the construction industry, he has been fortunate to have worked in positions that span from Project Clerk to President. He has completed or provided oversight through all delivery methods in projects related to the Medical, Educational, Public Works, Industrial and Religious fields. During this time he has worked closely with Clients, Contractors, Inspectors, and Design Professionals seeing all sides of a construction project giving him valuable insight into the entire construction process.In addition to teaching courses at Fresno State in the late 1990s and early 2000s, Doug has also had the opportunity to speak with local contractors, design professionals, and at industry events about the leadership concepts of "Listen. Plan. Build.", "Communicate & Collaborate", and "Safety, Quality, Time and Cost". Highlights include:  Project selection: It's not what you go after, it's what you don't  Using objective criteria to help avoid emotional decisions  Pride, Ego, Fear: the three-headed profit sucking monster  Why the hot market in California makes project selection challenging  How taking two hours to analyze a project can save you months of heartache and millions of dollars Using "bullets first, cannonballs later" to explore new markets How to intelligently weigh risk/reward and build a backlog  Integrating project selection into standard operating procedures  The dichotomy of structure and flexibility: How it impacts what you choose to build  Develop criteria based on your own strengths and weaknesses  Diligence and discipline: How to get the facts and make great decisions  Doug's favorite BBQ: Dog House Grill Doug Reitz: Website LinkedIn Twitter Mark Wilson Construction: Website  Your Next Step:  Project selection is all about nailing: right client, right job, right location If you do it right, you'll consistently hit your "sweet spot" and make good money. Here's how to do that:  Step 1: Define the Criteria  List all of the criteria that, from your perspective, define the "right client", "right job" and "right location"  Step 2:  Rank the Criteria  Rank by importance to the success of your company.  1 is low, 10 is high.  Step 3: Score the Criteria  Use any number between 1 and 10.  1 is low. 10 is high.   Here's a tool to help you hit your sweet spot: Construction Target Market Analysis  Click on the link and download the tool. Use it to define "right project, right client, right location".