Biggest Challenges Faced By A Business Owner At Precision Construction Services
Erik's biggest challenge at Precision Construction Services has evolved from initial survival concerns like "payroll and finding the next job" to effectively managing communication and maintaining team intimacy within a rapidly growing company of 50 people. This involves "carving out that time" for communication to ensure everyone feels connected and informed, a significant shift from the smaller team dynamics of the company's earlier years.
Communication, Teamwork, Leadership, Business Growth, Overcoming Challenges
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Erik Wright
Principal / Business Owner
Precision Construction Services
California Polytechnic State University, San Luis Obispo / Nelson Mandela Metropolitan University, South Africa
Design & Construction
Architecture, Construction & Design
Business Strategy
Honors Student, Scholarship Recipient, Pell Grant Recipient, Took Out Loans, Worked 20+ Hours in School, Transfer Student
Video Highlights
1. Maintaining open communication within a growing team is crucial for success.
2. The challenges faced evolve as a company scales; early challenges like payroll give way to more complex issues like interdepartmental communication.
3. Effective communication requires dedicated time and effort, even amidst a busy workload. Building and maintaining a strong company culture becomes increasingly important as the team grows.
Transcript
What is your biggest challenge in your current role?
The company definitely evolves over time, especially as it's grown fairly quickly. It changes.
It used to be about payroll, finding the next job, and just keeping the doors open. Today, it's about people. I would say we have a great team and I love our people.
But as you grow, you lose some of that intimacy you had when you were a small company and everybody knew exactly what was going on. So, I think the challenge is really communication to a large group of people.
You don't want to be in silos, but you have reached a place where you have different departments handling different things. Everyone wants to know what's going on and where we're going as a company.
Maintaining strong communication is a challenge, especially when you still have a busy job and can't dedicate your time completely to it. It's about carving out that time, making sure everybody's aware of what's happening, and ensuring all their questions are answered because it really is a big team.
Keeping that communication strong among 50 people now is more of a challenge than when we were five or ten people.