I've done over 100 episodes on this podcast about business strategy and finance, and now it's time to do something slightly different. So I'm gonna rebrand the podcast and take it from just business strategy and finance, and that's what you're used to, and I'm gonna double down on a niche that I'm super passionate about, which is construction. So what does that mean for you? If you continue along on this journey, you're gonna hear more stories and more specificity about the construction industry.

So even if you're not in construction, I'm sure you could relate a lot of these stories and a lot of these principles to your business, but for those of you who are listening, who are in the trades, or who are in the construction industry more specifically, you are gonna get better examples because I'm gonna go more narrow and more deep, and I'm gonna give you details that will help you and empower you to implement this stuff in your business. So I'm talking about business strategy all the time, and a big thing about business strategy is determining your market focus and position, but here I am providing a podcast that's super general because I'm trying to relate it to food and beverage companies and tech companies and service-based companies and construction businesses, and that's fine, but I think I'm gonna have more of an impact with the construction industry. That's my background.

I've spent the majority of my career turning around and growing construction businesses. I've been a CFO of a billion-dollar construction company. I've been a CFO of multi-million-dollar construction companies, and I've seen it all.

I'm not an operations guy, per se, so give me a hammer and a saw and watch out because I could do some dangerous things out in the field, but as far as putting in place a strategy and knowing the financial side of a construction business, that's my passion, that's my bread and butter, and that's where I do really well. So that's what I'm gonna focus in on with this podcast, but like I said, not every single episode will be construction-specific, but I am gonna narrow my focus moving forward. So I just wanted to give you that because I think it's really important for you and your business to also choose a niche, and it can be scary because, trust me, this podcast has done really well, and it's picked up a lot of traction amongst the audience, and here I'm thinking, okay, if I take this podcast and I just double down on construction, what does that mean for my existing base? But then also, it goes back to the analogy, which you can relate to your business as well because I see this happening all the time.

There are two things that happen in business that hold people back. It's straddling and it's not choosing a strategy. So think about it like this.

Straddling is when you have one foot in one strategy and another foot in another strategy and you're trying to do it well, but I can tell you it doesn't really work. I mean, if you wanna be Southwest Airlines, you're just gonna be Southwest Airlines and you're gonna be known for free bags and choose your own seats, which is about to change here sadly pretty soon, but Southwest Airlines is way different from a Spirit Airlines or from United because they have a totally different strategy. So the second thing is, when you're trying to serve two different types of customers, it's akin to offering one type of tea.

You're trying to serve the people that like hot tea and then you are trying to also serve people who prefer cold tea. So you make one tea, it's warm tea and nobody likes it. So I feel like in business, oftentimes we act with fear because we don't wanna miss out.

We feel like if we niche down, we're gonna miss out on opportunities, but I think there's an interesting trend that's happening in the world today, especially in business, because what you'll see online are a lot of communities being developed around niches. I mean, if you don't believe me, just go on YouTube. You can find somebody with a channel teaching people how to grow petunias and you may find a follower base of 500,000 people or more and that's very niched, right? Versus a YouTube channel that says how to grow plants.

Well, that's not super helpful because it's like, well, what if you live in the Northeast or what if you live in Antarctica or whatever it may be? No, there's gonna be different strategies, different nuances and that's the same thing with this podcast. There's gonna be different nuances and strategies to pursue if you're in construction or if you're a business where you're engaging in projects where you have to bid work or your delivery method is completely different. So that's the whole reason why I'm doubling down on this podcast.

I'm excited for this journey. I think it's gonna add even more value and I hope you stay, I hope you follow along but look, if you're like, this is not for me, I bid you farewell but you can also check out my other podcast called Boosting Your Financial IQ and on that podcast, I talk a lot about strategy and finance and how those two things combine together to drive value in organizations and that's more general in nature. All right, so that's what I have for you.

Now, if construction is your thing, guess what? I got a lot of great tools. If you go to Coltivar.com and I'm gonna provide a link down below in the show notes, we have put up some amazing calculators that will help you in your business to understand where your margin leaks are and how to fix them. We also have training videos for you and your team that are specific to construction and you're just gonna find some other resources there that will be extremely valuable to you and always, the invitation's there, if you ever wanna talk about your business, if you wanna talk strategy in your company, we offer a free 20-minute call.

It's a strategy call and you can book that by going to Coltivar.com. All right, that's what I have for you and I will see you in the next episode. Cheers.