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Admit it, you have a problem...
Ever heard the phrase, "Ego is the mother of all cockups?" What's the link between 'ego' and the failure of a project or construction business? Surely most jobs and businesses go south due to external factors, such as market conditions, a major customer going bust or financial mismanagement, don't they?
Yes, ultimately these may be the sorts of reasons why contractors and specialist sub-contractors lose money or worse, go to the wall. Often, however, there are early warning signs when there is a window of opportunity to act and, if the right steps are taken at that point, the risk of failure can be significantly reduced.
In our experience, however, one reason why some company owners or directors miss or ignore the opportunity to turn things around before problems escalate is due to their egos. They don't want to admit they have a problem, look out of their depth, or have to bring in someone to help because – they think – that would look like they have personally failed. The knock-on effect, they perceive, is that they will look ineffective and not as capable as their staff, suppliers, clients, friends and family thought they were.
The same scenario applies in any industry sector, of course, but at a time when there is a heightened awareness of mental health within the construction industry, this is one issue that needs to be recognised. A 'bad' over-inflated ego can stem from a person's insecurity and anxiety, which may result in those affected being poor at decision-making and vulnerable to more serious mental health problems down the line – especially if their decisions do indeed lead to a financially and emotionally costly business failure.
There is a concerted effort to drive culture change within construction, but the fact remains that it is an industry which is male dominated, dangerous and unhealthy at times. Building sites, therefore, can be harsh environments, so it is no surprise that a 'macho' culture develops where everyone has to stand up for themselves and appear strong. This is a mindset that can stay with construction workers as they rise through the ranks until they are ultimately running a business – and this is where it can become catastrophic.
If you are the owner or director of a construction business facing difficulties, the bravest move you can make is to ask for external help. Even if you have made some bad decisions, there is no shame, it happens to us all at some point - but a good decision is to bring in a specialist to help you resolve the situation.
Contracts can often be worded and structured in a way that is more advantageous to clients than contractors and sub-contractors, and sometimes the terms that could end up being extremely costly are difficult to spot. So, it is really important to make sure you are happy with the terms, conditions and processes for every contract before you sign on the dotted line, and this is what the experienced quantity surveyors in our Quantum CPM team can assist with.
However, this kind of 'with hindsight' advice cannot help a business that isn't getting paid as they were expecting and is in disagreement. At this point, dispute resolution expertise is what will help you most, which Quantum Consult offers through its range of services.
Quantum Consult's dispute resolution consultants know the construction industry inside-out, having started out as quantity surveyors. But they are also legally trained which means they have the ideal combination of skills and experience to help clients reach agreements when contracts turn sour. The guys at Quantum Consult have a saying, "we only get asked difficult questions." Its true. And we do this kind of problem solving for a living, so we can assure you, you are not on your own in it.
Resolutions can be achieved without resorting to the courts, depending on the contract, and these alternative routes are always explored with clients first to negate the need for formal legal proceedings. This can save time and money.
But where formal action cannot be avoided, Quantum Consult is highly experienced in dispute resolution procedures such as arbitration and adjudication, and in the less formal but more commercial approaches of negotiation, mediation and conciliation. The team can also represent client interests in either pursuing or defending dispute matters and, should full legal proceedings be required, act as expert witness.
Whatever you do, don't let your ego prevent you from declaring you're facing challenges and ultimately take your business down - talk to Quantum Consult today.
