The AC Method

#6: From Loss to Lesson: Turning Construction Setbacks into Company Growth

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In today's episode, Aaron talks about a construction project that went wrong due to unforeseen circumstances, resulting in the company losing a significant amount of money. He suggests that such situations should be viewed as a learning opportunity, where the company is paying for its education, rather than a complete loss. He also emphasizes the importance of being cautious when taking on new projects and considering potential unknown areas that could result in additional costs. Additionally, Aaron shares their personal experience of having to forfeit their paychecks when their company was struggling financially.

Aaron emphasizes the importance of examining and understanding why a project failed and using that knowledge to improve and avoid similar mistakes in the future. He also encourages open communication and collaboration within the company to facilitate this process. The overall message is that failure can be a valuable source of education and growth, and should be approached with a positive and constructive mindset.

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HIGHLIGHTS:

  • Aaron discusses a project that resulted in a significant loss for their company and suggests viewing such situations as a learning opportunity.
  • Being cautious when taking on new projects and considering potential unknown areas that could result in additional costs is important.
  • Aaron shares their personal experience of having to forfeit their paychecks when their company was struggling financially.
  • Examining and understanding why a project failed is crucial to improve and avoiding similar mistakes in the future.
  • Open communication and collaboration within the company are encouraged to facilitate the learning process.
  • Failure can be a valuable source of education and growth and should be approached with a positive and constructive mindset.

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    TIME STAMPS

    • 00:00 - Prelude
    • 00: 09 - What does a loser project look like?
    • 00:33 - What steps did Aaron take to analyze a project that resulted in a significant loss?
    • 1:22 - Project Cortez
    • 2:00 - How did this idea come to be?
    • 04:02 - Mistake number one: Not knowing the numbers
    • 4:59 - A color discrepancy discovered
    • 6:13 - Selling a loser project for 15,000
    • 08:04 - The bloodbath of the company
    • 9:40 - What do you learn from losing money on projects?
    • 12:21 - What does it mean to look at the variance?
    • 15:22 - The value of losing projects
    • 18:03 - Taking time to look at the numbers
    • 19:17 -  We’d love to hear your thoughts
    • 19:36 - END


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      The AC MethodBy Aaron Clippinger
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