This is the 20th issue of The Smart Contractor.
That’s twenty weeks of showing up in your inbox with lessons, mistakes, and reflections – all written for people like you: construction and trades business owners trying to build better, smarter businesses without burning out in the process.
This week’s issue is a little longer than usual. But for good reason.
I wanted to mark this milestone properly – by pulling back the curtain on what I’ve really learned in eight years of running and growing two businesses. Not theory. Not recycled advice.
Real lessons. The kind that only come from getting things wrong, fixing them, and doing it better next time.
Eight years, two companies, with over 35 staff, and more than a hundred interviews later, I’ve seen patterns repeat – in my own work and in every construction business owner I’ve ever worked with.
So this issue isn’t about tips or tricks.
It’s about perspective – and the eight lessons that shaped how I think about business today.
1. Price Properly or Stay Stuck on the Tools
When I started my first business, I was proud of being “affordable.” Clients would say, “You’re great value!” and they’d recommend me to others.
At first, I thought that was a compliment.
Then I realised it was the problem.
Because when people say you’re “cheap,” what they really mean is that you’re underpriced for what you deliver.
And that under-pricing came at a cost.
It meant I couldn’t afford proper help. I hired trainees instead of experienced staff because it was all I could justify. And that just meant more time spent training, less time working on the business.
It’s the same trap I see in construction businesses – owners quoting low to “win the job” and then working twice as hard to make a sliver of profit.
Once I started pricing properly – factoring in not just costs, but margin for growth and breathing room – everything changed.
I could finally hire properly, free up my time, and reinvest with confidence.
If everyone says you’re great value, it’s time to raise your prices.
2. Hire Slowly, Fire Quickly
Hiring has probably been the most painful – and the most rewarding – part of my journey.
In the early years, I hired fast because I was desperate. We were growing quickly, and I just needed people.
If they had a pulse and a decent CV, I’d give them a shot.
It didn’t take long for that to backfire.
Out of my first four hires, I had to fire two.
One was technically capable but had an attitude that clashed with our culture.
The other was a lovely person, but I’d put them in a role they simply weren’t ready for.
Both situations drained my time and morale.
I spent more energy managing mistakes and smoothing over issues than actually growing the business.
It forced me to stop and rethink everything about recruitment.
Now, no one gets hired without going through a proper process: CV plus cover letter or video, a technical test, and at least two interviews – one to assess skills, the other to understand their values, mindset, and fit.
It’s not about being picky. It’s about protecting the team and the business.
When you rush to hire, you hire your next problem.
When you take your time, you hire your next solution.
A proper hiring process costs less than one bad hire.
3. Niche Down to Grow Up
From the very beginning, our goal was clear: we wanted to serve clients in the built environment.
But that didn’t mean working with anyone and everyone.
We started where I already had experience – property investors and developers. That became our first niche. It made sense, it gave us focus, and it allowed us to deliver real depth rather than spreading ourselves thin.
Over time, though, our clients began to change. Many of those same investors also ran construction businesses – fit-out contractors, builders, and trades firms. And as we got closer to their world, we realised they didn’t just need tax returns and year-end compliance.
They needed full financial control – a finance department they could trust to run alongside their operations, not behind them.
That’s when we expanded our niche.
Today, we only work with construction and trades businesses turning over between £500K and £15M, who are ready for proper financial systems and strategic support – not just bookkeeping and compliance.
That focus means we can go deeper, not wider.
It’s what lets us build lasting partnerships and real results.
The right niche doesn’t limit you. It helps you stand out as the expert and specialist.
4. Don’t Go It Alone
My first business was a one-man mission. I made every decision, carried every burden, and had no one to challenge my thinking.
It was exhausting – and lonely.
When you’re the only person steering the ship, every mistake is amplified.
You can’t see your blind spots, and there’s no one to say, “Hang on – is this really the right move?”
My second business was different.
I had a partner.
And that changed everything.
We challenged each other’s assumptions. We debated decisions. We balanced each other out.
Having that partnership didn’t just make the business smarter – it made me calmer.
Even when we disagreed, the friction led to better decisions.
It reminded me of something I tell clients often: you can’t see the frame when you’re inside the picture.
Having a second brain – whether that’s a business partner, a mentor, or even a strong second-in-command – forces you to think more clearly.
You can build fast alone, but you build strong with someone beside you.
5. Always Keep a Cash Buffer
This one came from experience – and not the good kind.
In the early days cash was tight and a couple of clients delayed payments. At the same time, our expenses were up.
For the first time, I felt real pressure on cash.
We weren’t in trouble – but we had no breathing room.
And that’s what scared me.
That moment changed how I viewed cashflow forever.
I realised that the difference between panic and control is buffer.
Now, I always keep at least two months of cash to cover operating expenses in the bank – untouched. Ideally it should be three months and over time if you can build it to 6 months that would be even better.
It’s not about hoarding cash. It’s about protecting your sanity.
Because when you’ve got a buffer, you don’t make panicked decisions. You make smart ones.
In construction, cash is king – we all know that. But most business owners only realise it when it’s too late.
Start small if you have to, but build the habit.
Cashflow confidence isn’t about hoarding cash – it’s about being ready for those dips that can tip you over.
6. Separate Bank Accounts = Instant Control
For years, I managed my whole business from one business bank account.
All money in, all money out – and chaos in between.
I never knew what was tax money, what was profit, and what was safe to spend.
It’s like running a project where materials, labour, and profit all come out of the same envelope – you can’t tell what’s left until it’s too late.
Then I separated everything.
Now we have:
Suddenly, you have clarity.
No guesswork. No panic. Just visibility.
If your bank allows it – like Monzo or Starling – create sub-accounts or “pots” for each purpose.
Move your money into them every week.
When every pound has a job, you stop asking, “Where did it all go?”
One bank account is confusion. Five accounts is control.
7. Pay for Quality – Cheap Labour Costs the Most
Twice in my career, I’ve seen the power of stretching your budget to hire the right person.
The first time, we were looking for an operations manager. We had a salary range in mind, interviewed plenty of candidates, but none felt right.
Then we met someone outstanding – experienced, capable, proactive – but double our budget.
We took a deep breath and hired him anyway.
It turned out to be one of the best business decisions we’ve ever made.
He freed me and my partner from the day-to-day grind. The business ran smoother. We grew faster. And, ironically, we became more profitable because he made us more efficient.
A year later, we faced the same dilemma with a HR role.
We could’ve hired a junior assistant – cheaper, easier – but we decided to invest in someone senior. She’s still with us today, and she completely changed the culture and rhythm of the business.
Both hires stretched us financially in the short term.
But both multiplied our time, profit, and sanity.
The right person doesn’t cost – they pay back.
8. Keep Marketing, Even When You’re Busy
This last one sounds simple, but it’s probably the easiest to forget.
There were times we were stacked with work. The pipeline looked healthy. So I’d ease off on marketing – no need, right?
Then, months later, the phones would go quiet. The lull always arrived after the busy spell, like an echo. Because marketing doesn’t pay off instantly. It’s a delayed game.
It’s the same in construction: the tenders, the quotes, the word-of-mouth referrals – they all take time to mature.
When you stop feeding that pipeline, it doesn’t dry up tomorrow… but it will dry up.
So even when things are humming, we now keep the marketing engine running – consistent posts, outreach, conversations, relationships. Always something moving.
Because momentum disappears the moment you stop pushing.
Keep the marketing tap running, even when the tank’s full.
What It All Comes Down To
Looking back, every mistake I made came down to three things:
I was too cheap.
I was too rushed.
And I was too reactive.
Once I slowed down, priced properly, and built real systems – everything changed.
The business stopped running me.
And I started running the business.
The longer I’ve been doing this, the more I realise success isn’t about working harder – it’s about structure and calm.
None of it’s flashy. But it’s what gives you control – and ultimately, freedom.
And even now, eight years in, I’m still learning.
Every stage of growth comes with new problems – but the foundations stay the same.
You didn’t start your business to stay busy.
You started it to build freedom.
These lessons are how you earn that freedom back.
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