Building Resilience
Why Personal Development is Key to Thriving in Business
Your business’s success depends on one thing: you.
Period.
The actions and the plans you make to achieve your goals will ultimately determine your outcomes. Understanding how your behaviors affect your outcomes are vital to success.
It’s easy to blame external factors, like the economy, your crew, your project manager or your clients, when things go wrong. But the truth is, success comes from taking control of what you can: namely yourself.
Focusing on personal development might seem unrelated to running a successful construction company, but it’s actually the foundation for leadership and innovation.
Your mindset, vision, your principles and values shape the goals of your business and how you achieve them.
Leaders with a growth-oriented mindset set ambitious goals, take calculated risks, and inspire their teams to perform at their best. Conversely, a fixed mindset can hold your company back by discouraging change and innovation.
Let’s start by examining how your mindset impacts your business. Later we’ll get into how your principles and values impact your business.
Begin by asking yourself: How do I react to challenges, setbacks, or feedback? Do I view them as opportunities to grow (growth), or do I avoid them (fixed)?
If you aren’t sure, or if its situational, here are some additional key questions you can ask yourself:
When faced with a difficult challenge, do I tend to give up quickly or avoid the task?
Fixed mindset: You might shy away from challenges, thinking you’re not good at something.
Growth mindset: You see challenges as opportunities to improve and tackle them head-on.
How do I react when I fail or make a mistake in my business?
Fixed mindset: You might feel like a failure and believe the mistake is a reflection of your abilities. You contemplate throwing in the towel often.
Growth mindset: You view failure as a learning opportunity and seek ways to improve and grow from it. You know that you only really fail when you stop making an effort.
When something requires extra effort, do I persist or feel like it’s not worth my time?
Fixed mindset: You might think that if something requires effort, it’s a sign that you’re not naturally good at it. You may give up early or decide that it wasn’t necessary, even though it is.
Growth mindset: You understand that effort leads to improvement and keep going, even when things get tough. You know that persistence and extra effort means you are developing a new skill that will help you move your company forward.
Do I believe my skills and intelligence can be developed, or do I think you are fixed traits?
Fixed mindset: You might believe that your abilities are innate and cannot be significantly changed.
Growth mindset: You believe that with dedication and hard work, you can continue to develop and improve, continually developing skills and improving. You know that as long as you own a business, you will always have more to learn.
How do I feel about receiving feedback, especially if it’s critical?
Fixed mindset: You might feel defensive or discouraged when receiving feedback, viewing it as a judgment of your abilities.
Growth mindset: You embrace feedback as a tool for learning and see it as a valuable part of the process for improving.
How do I feel when others succeed or outperform me in business?
Fixed mindset: You may feel threatened or envious, seeing others’ success as a reflection of your own shortcomings.
Growth mindset: You feel inspired by others’ successes and see them as learning opportunities that motivate you to improve. You put in extra effort to learn from your competitors, allowing them to make you better.
Do I actively seek out new knowledge and ways to improve, or do I stick with what I already know?
Fixed mindset: You might avoid learning new things if you feel it’s not something you can quickly master. You do not like looking like a novice, more comfortable with your status as a professional with all the answers. You tend to see things binarily, meaning in terms of only seeing two options, often described as “black and white” thinking, where everything is either good or bad, right or wrong, with little room for nuance or middle ground.
Growth mindset: You actively seek new challenges and knowledge to expand your skills and understanding, regardless of your current level of expertise. You continually ask questions and are curious.
How do I handle changes in the business environment (e.g., new technology, market shifts)?
Fixed mindset: You might resist change or feel overwhelmed by it, thinking it’s too difficult or outside of your control. You feel you must always maintain control or things will spin out of control.
Growth mindset: You embrace change as an opportunity for innovation and growth, finding ways to adapt and learn from it. You see change as a challenge to develop news skills and become a better leader and manager.
Do I tie my self-worth to my successes and failures, or do I separate them?
Fixed mindset: Your self-worth might be tied to the outcome of specific tasks, and you may feel inadequate after failure. You have a tendency to seek external validation.
Growth mindset: You understand that your value as a person is separate from specific achievements and that setbacks don’t define you, but instead show you skills that you can develop.
How do I view competition in my trade?
Fixed mindset: You may see competitors as threats, believing that there’s a limited amount of success to go around.
Growth mindset: You view competitors as inspiration and opportunities to learn, seeing that everyone can grow and succeed in different ways.
Do you see a pattern emerge? Are you mostly growth minded or fixed? Be honest with yourself.
Growth-minded leaders embrace challenging moments, using them as stepping stones for improvement. They recognize that their skills and intelligence are developed through effort, persistence, and learning.
On the other hand, a fixed mindset sees obstacles as threats and views feedback as criticism rather than a tool for growth. This perspective can limit your ability to adapt and lead effectively.
The good news?
Mindsets aren’t set in stone. With conscious effort, you can shift toward a growth mindset, unlocking new possibilities for both yourself, your team and your business.
Personal development doesn’t just benefit you; it will transform your company. By investing in your leadership skills, you’ll cultivate a culture of learning and growth within your team. Employees are more likely to thrive in an environment where innovation is encouraged, and leadership sets the example.
Many business owners overlook personal development because they don’t see the immediate connection to profitability. But research shows that companies led by growth-oriented leaders perform better. Leadership development enhances strategic thinking, risk management, and team dynamics, all of which drive business success.
McKinsey & Company’s Construction Industry Insights Report suggests that many construction company owners focus heavily on project management and client relations during the early phases of their company’s development, rather than building leadership capabilities. This makes sense, but can also stunt the later development of the company.
The report emphasizes that although the construction industry is becoming more complex, leadership development within construction businesses remains limited. This lack of attention to personal and leadership development can hinder the business owner’s ability to scale effectively and manage larger teams.
As you grow, your company evolves with you. By expanding your knowledge and refining your skills, you’ll develop a clearer vision for the future, innovative strategies, and the resilience to navigate challenges. You’ll also foster stronger relationships with employees, clients, and partners, creating trust and loyalty that are essential for long-term success.
Here are some questions you can ask yourself as you explore who you want to become to take your company forward, as a leader and manager.
Quick note: Be candid with yourself, the more honest you are, the more likely it will be for you to make the needed changes.
What kind of leader do I want to be remembered as?
What are my strengths and weaknesses as a manager, leader and owner?
What are my core values and beliefs, how do you impact the company’s performance?
What are my long-term goals and aspirations for myself and the company?
What are the specific skills and knowledge I need to develop to achieve the above mentioned goals?
How am I stopping the growth and development of my company and its team?
How am I obstructing the development of a learning culture within the company?
How am I stymieing continuous improvement within the company? Both with the staff and myself?
How am I bottlenecking the allocation of resources to the determinant of efficiency and profitability for the company?
Understanding your values, priorities, and core beliefs will help you lead with purpose and create a business that aligns with your long-term vision.
Clarifying your vision, acknowledging the work to be done and aligning your actions with your aspirations, you’ll not only become a more effective leader but also build a business that reflects your long-term goals.
Taking the time to grow personally doesn’t mean neglecting your company’s day-to-day needs. Balance is key. It’s about being proactive, not reactive.
As you develop, be mindful of staying aligned with your company’s mission and ensuring that your growth benefits the entire organization. Yes, change can be met with resistance — from employees or even yourself. But with patience and persistence, you’ll lead your company toward greater resilience and success.
The potential for professional development is vast. You can join executive leadership programs to develop your strategic decision-making skills, learn more about change management or team leadership. You can also find a mentor, an experienced professional who can offer guidance and support.
Management courses can help you develop skills in project management, operations management, and human resource management.
Additionally, intentionally seeking out 360-degree feedback can provide insights into your strengths and weaknesses from multiple perspectives.
To further your financial know-how, you can take financial management courses to better understand financial statements, project budgeting, cash flow, and financial analysis.
Strategic thinking training can help you anticipate future trends, while innovation and technology education can keep you up-to-date with the latest advancements in the construction industry.
Sustainability training can help you understand and implement sustainable building practices, which are gaining momentum in the city as large agencies, like EDC, begin promoting green construction.
You can also improve your communication skills through public speaking and presentation skills training. Negotiation skills training can help you secure contracts, resolve disputes, and build stronger relationships. Additionally, conflict resolution training can help you maintain positive relationships and avoid costly disputes. Emotional intelligence (EQ) training can help you understand and manage emotions for effective leadership.
As you can see, there is no shortage of learning opportunities.
Pick one.
The first one will bring you to the next.
As you follow this new path toward self development, you may get overwhelmed with all of the options. Just keep focused on moving forward.
Here are a few additional skills to be aware of that can help you sustain your business’ growth and development:
The construction industry can be stressful, and effective stress management techniques are essential for maintaining physical and mental health.
Regular physical activity can improve physical and mental health, reduce stress, and increase energy levels.
Maintaining good mental health is essential for overall well-being and success. By taking steps to manage stress, build strong support systems, and prioritize self-care, you’ll be better equipped to handle challenges, make decisions, and lead your business effectively. Remember, asking for help and making time for yourself are signs of strength, not weakness. Take it one step at a time, and don’t hesitate to seek support when you need it. Here are a few ways to boost your mental health:
Boundaries: Separate your identity from the business
Delegate to your staff
Seek support from mentors and friends
Establish a routine that includes exercise and stress management techniques
Learn to say No
Celebrate small victories
Manage expectations, especially yours
Re-frame negative self talk
Give yourself a break, allow yourself to be human
Try and remember that leadership isn’t about having all the answers — it’s about being willing to learn, adapt, and grow.
By focusing on continuous personal development, you’ll inspire your team, strengthen your company, and position yourself for sustained success in a challenging industry.
Next week, we’ll explore how to create a strategic plan and address the challenges you might face in the process.
The unpredictable nature of construction, the effects of economic shifts, regulatory changes, labor shortages, cash flow issues, supply chain disruptions, evolving client demands, technology integration, risk management, can pose significant obstacles.
A lack of data can also complicate planning.
We’ll discuss strategies to overcome these challenges, including setting aside dedicated time and resources, outlining your company’s mission and values, breaking the planning process into manageable steps, building a team to help develop your vision and goals, delegating tasks, and building flexibility into the plan.
We’ll also cover essential tools and tips, such as conducting a SWOT analysis, setting SMART goals, and involving key stakeholders. Having a team to monitor progress, invest in talent development, and adjust regularly is critical.
Finally, we’ll highlight the importance of prioritizing communication, leadership, customer experience, reputation management, and seeking external expertise when needed.
Until next week.
Want to dive in deeper? Here are some books I have read and can personally recommend if you’re ready to start down this path:
“Mindset: The New Psychology of Success” by Carol S. Dweck
This book is a classic on the power of mindset. Carol Dweck explores the differences between a growth mindset and a fixed mindset and how adopting a growth-oriented approach can significantly impact both personal and professional development. It’s especially relevant to anyone seeking to enhance leadership skills, navigate challenges, and encourage innovation.“Leaders Eat Last: Why Some Teams Pull Together and Others Don’t” by Simon Sinek
Simon Sinek delves into the importance of leadership in building a resilient team and fostering a positive work culture. Sinek explains how great leaders inspire trust and cooperation, which are essential for the long-term success of both individuals and businesses. It’s a must-read for anyone looking to lead with purpose and strengthen their company’s internal culture.“Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones” by James Clear
This book focuses on the power of small habits and how they accumulate to create massive personal and professional growth. Clear offers practical advice on how to build habits that support long-term success and how they can be applied to leadership, business, and personal development. It’s perfect for anyone looking to improve their consistency, leadership, and resilience.“Grit: The Power of Passion and Perseverance” by Angela Duckworth
Angela Duckworth’s book explores how perseverance and passion for long-term goals — what she calls “grit” — are crucial for success. Duckworth combines research and personal stories to show how resilience and persistence can be more important than talent in achieving success.“Dare to Lead: Brave Work. Tough Conversations. Whole Hearts.” by Brené Brown
In this book, Brené Brown tackles the challenges of leadership and vulnerability. She emphasizes that great leaders are those who are courageous, open to feedback, and emotionally intelligent. Brown’s work helps leaders build resilience by embracing vulnerability and learning from their experiences.“The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses” by Eric Ries
This book is a must-read for entrepreneurs and business leaders focused on innovation and adapting to change. Eric Ries outlines the importance of creating a feedback loop, testing ideas quickly, and being resilient in the face of failure. It’s perfect for those in leadership positions who want to build adaptive, innovative businesses.“Drive: The Surprising Truth About What Motivates Us” by Daniel H. Pink
Daniel Pink explores the psychology behind motivation and how it affects performance. He outlines three key elements — autonomy, mastery, and purpose — that are essential for fostering motivation in both yourself and your team. This book is an excellent resource for leaders aiming to inspire growth and innovation within their teams.“Start with Why: How Great Leaders Inspire Everyone to Take Action” by Simon Sinek
Another brilliant work by Simon Sinek, this book delves into the importance of having a clear sense of purpose (the “Why”) to inspire leadership and action. It’s a great guide for leaders looking to cultivate a vision-driven culture and improve resilience in their organizations.
These books offer a variety of strategies and insights on how to develop a resilient mindset, lead with purpose, and navigate challenges — principles that will support both your personal and business growth.
Happy reading!!