Managing Risk and Maximising Success: Key Insights from Robin Hayhurst

What challenges do small construction businesses face when managing their finances and assessing risk? Robin Hayhurst, an experienced construction professional who now focuses on coaching and mentoring others, provided valuable insights on this topic. Small firms often struggle with accurately classifying costs as either overheads or site expenses, which can negatively impact their reported profit margins. They may also fail to implement proper financial controls, leaving them vulnerable to unexpected losses. It is important to address pricing risks in contracts, developing versatile skill sets among employees, implementing mentorship, and making hiring decisions based on cultural fit rather than just qualifications. Hayhurst is passionate about helping others succeed and encouraging innovation in the industry through his coaching, workshops, and "Bust and Beyond" podcast. https://www.robinhayhurst.com/ https://www.linkedin.com/in/robinhayhurst/ For more information about anything in this episode head to https://www.gavin-coyle.com/ I'm The Gaffer, hosted by industry expert Gavin Coyle, is the essential podcast for construction people, offering insider insights, expert interviews, and actionable strategies to blueprint unprecedented success in the dynamic world of construction. Whether you are still ‘on the tools’, just getting started, a seasoned site manager focused on large-scale project management, or a fast-growth building industry entrepreneur/developer this podcast is for you. Gavin's guests, ranging from influential thought leaders to boots-on-the-ground practitioners, share their stories, successes and failures, and offer invaluable lessons and tips, allowing you to have a 360-degree view of the construction landscape. This podcast is a must have shared learning space for any person looking to achieve success in the building industry. As a construction person, this podcast is your go-to source for navigating the complexities of the construction industry where success is not just built; it's crafted with precision, passion, and the right knowledge.