Construction cash flow has been a major problem for 400 years and it hasn't changed much since the times when St. Paul's Cathedral borrowed funds from St Peter's Cathedral to pay for its building works; it's where the saying "Robbing Peter to Pay Paul" comes from.
There are many factors that affect cash flow in construction from unfair contract terms, cash farming, poor record keeping, poor quality, delays, missed application dates, slow payment culture, low working capital, contractors handling other people's money, the list goes on. However, one thing is for sure, whatever the reason, the consequences can be serious for the myriad of small business owners that make up the construction supply chain. Tragically, insolvency, mental health, suicide, and family breakdown are some of the knock-on effects of the slow payment culture tradition in construction.
This is why I started The Construction Cashflow podcast, in order to keep these issues at the forefront of people's minds when setting up and carrying out construction projects.
As a result of the competitive nature of holding the cash in construction, it is my belief that construction punches well below its weight in wealth creation for the wider economy, families and communities.
In this episode, I explore with the author of the book 'Ego' Mary Gregory how ego plays out in leadership and how this leads to tension, stress and entrenchment when it comes to collaborative leadership and confidence around formulating positive cash flows for the whole of the construction supply chain.
Mary is a leadership coach, author and public speaker. Having experience in other industries as well as construction, she offers some interesting insights into how we might improve the culture within the industry by improving its leadership.
Mary also shares, here the story of how she got to where she is today along with what inspires and motivates her.
I hope you'll enjoy the journey.
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