The Construction Leading Edge Podcast
Business:Entrepreneurship
EPISODE 281: Learning to say no to the people or things that don't serve you or your business gives you room to say yes to those that do.
And we've invited someone who just skyrocketed his construction business by saying no and focusing on the people.
In this week's episode, I sit down with Mikhail Gannage, president of Gannage Design & Construction. Mikhail went from being a long-time robotics engineer to running their family-owned construction business.
According to Mikhail, by being selective in what projects he and his team take on, they have seen tremendous business growth - something they haven’t seen in years.
So he's here to share the main root cause of his company’s profit bleeding and the systems and changes he implemented that grew his construction business from 2% to a whopping 15% net profit.
He also talks about the connection between an accountability chart and a good handoff to profitability, the benefits of being in a mastermind group of construction business owners, and why working less makes him a better leader.
Tune in now to learn more!
Key Takeaways:
From robotics engineering to construction business owner (01:06)
Best advice for those taking over a family business (04:42)
Business problems Mikhail was dealing with (09:59)
The main root cause of profit bleeding and its ripple effects (13:08)
Most impactful systems and changes that grew his business (23:32)
Dealing with one big hairy audacious goal (29:49)
On accountability chart, good handoff and profitability (35:36)
A peek into his construction business’s numbers (42:07)
Benefits of being in a mastermind group (49:15)
Why do construction business owners isolate themselves? (53:35)
Why working less means doing more? (56:32)
The biggest question to ask when starting a business (58:36)
One final piece of advice (1:01:39)
Additional Resources:
- Schedule a Breakthrough Session with our team HERE
- Register for The ADVANCE Live Meetup | March 30-31, 2023 | Austin, TX HERE
- Visit Construction Leading Edge for more HERE
Connect with Mikhail Gannage:
- Follow Gannage Design & Construction on Instagram HERE
- Reach out to Mikhail at mikhail@gannageconstruction.com
- Visit Gannage Design & Construction website for more info HERE
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The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.
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3 Key Concepts to Grow a Custom Home Building Business with Alex Gregg | E299
Why 10X is Easier Than 2x | E298
Foundations for Scaling a Business to $50M with Shawn Dominguez | E297
Manufacturing Adversity and Burning the Ships | E296
Escaping the Free Estimate Trap and Indoctrinating Your Clients with Bobby Williams | E295
How to Red Team Your Construction Business to Make it More Resilient | E294
How to Get a Check From the IRS: Tax Credits Your CPA Isn’t Telling You About | Justin Rupple | E293
How to Use Femininity to Nail the Handoff Process in a Male-Dominated Industry w/ Amy Rans | E292
The Burnout Cycle & Letting Go of Control with Josh Fravel | E291
Stop Trying & Stopping Profit Bleeds with Ashley Fleschner | E290
Your Customer Experience Roadmap: How It Impacts Your Bottom Line & Company Culture | E289
What High Performers Actually Want & Finding Opportunity in Chaos with Isaac Barlow | E288
How a Rigorous Handoff and a Solid Pre-Construction Process Leads to More Freedom with Daniel Hickey | E287
Nailing the Handoff, Small Adjustments, and Navigating a Business Transition | E286
Family Partnerships, Hard Conversations, and Dealing with Rejection with Jake Lewendal | E285
How a Special Forces Commander Used Team Meetings to Fight Terrorists | E284
Communication & Delegation Hacks to Help You Get Out of Operations | E283
How Great Entrepreneurs Think About Adversity & The Stockdale Paradox | E282
The Habits of Success: 3 Things You Need to Do Daily to Set You up for Success | E280
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