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Boom Times and Contractor Business Succession

Wayne Rivers
By Wayne Rivers
9 minutes

While crazy materials prices and the specter of inflation may give us pause, it looks like pretty rosy times for the construction industry for the next couple of years. That’s a good thing, right?

Well, yes and no. We’re all grateful that last year’s steep, sudden recession has been almost ameliorated and that the construction is set, once again, to boom. However, boom times create challenges of SUCCESS. Success breeds problems which are very different from the challenges of recession or decline, but they’re challenges nonetheless – in particular when it comes to business succession planning.

Please tune in this week as Wayne advises to watch out for the three dangers of boom times as they relate to your succession plans – make sure you have a strategy and stick to it! We’d love to hear your feedback in the comments section.

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