Best Books for Residential Contractors to Read (2023)
When running your own contracting business, it's essential to continually expand your knowledge and stay updated on industry trends and best practices. Books are a great way to help you do just that, offering in-depth information and valuable insights from industry experts and experienced entrepreneurs. In this article, I’m sharing my favorite business books of all time. Plus, I’ve scoured the world wide web for the best books for residential contractors based on readers’ reviews and those that are the most highly recommended from those in the construction industry. If you own another type of service business, many of these books can offer actionable insights for you too.
I’ve grouped the books based on the following six topics: Business Set-Up, Business Management, Financial Management, Leadership Skills & Success, and Construction Management. Each book listed includes a brief summary of the book, why I like the book, along with the most helpful review. So without further ado, here is my ultimate guide of must-read books to help set yourself up for success as a contractor/business owner.
Business Set-Up Books
Before anything else, you want to start with a strong foundation for your business. For this reason, proper business set-up is one of the first steps construction business owners and contractors should take when thinking about their business strategy.
Start Your Own Corporation by Garrett Sutton
An invaluable resource, this essential guide to business entities will help you understand the best way to establish your business. It covers topics such as how to choose between a corporation or LLC, using business tax deductions, and building business credit. Written by an attorney, it provides a step-by-step guide to help protect yourself against common risks of doing business. I like this book because the author writes in an easy-to-understand manner while covering some pretty technical information.
Most Helpful Review: "Updated, straight-to-the-point info on the importance of choosing an “entity” corporate structure for your business. Only a fraction of the cost of the same quality direct advice from a business attorney. Most recommended and have purchased multiple times for friends and relatives!"
Business Management Books
Run Your Own Corporation by Garrett Sutton
Once you've set up your business entity, you need to know the next steps to running your own business. This complete guide helps you make sure you take all the necessary legal steps for your corporation going forward. I like this book because it provides simple lists and practical steps to follow based on the age of the corporation. Written in a story format, the author illustrates useful information on properly operating a business and protecting yourself through case studies of three entrepreneurs.
Most Helpful Review: "This book breaks down the seemingly daunting task of running your own corporation and makes it more manageable."
The E-Myth Revisited by Michael Gerber
This is a classic, must-read book for any small business owner. Revised and updated for today, this book highlights how common assumptions, technical expertise and expectations can get in the way of running a successful business. I like this book because it dispels many myths of entrepreneurship and explains the difference between working on your business versus working in your business.
Most Helpful Review: "Great read for any small business owner who just won't stop banging nails, turning screws, baking bread, etc. STOP doing those things and run your business. Read this book."
Managing the Profitable Construction Business: The Contractor's Guide to Success and Survival Strategies by Thomas C. Schleifer, Kenneth T. Sullivan, John M. Murdough
This is a great essential guide written by a group of veterans in the construction business. Schleifer has experience in turning around construction companies, rescuing them from financial distress. I like this book because it uses many real-world examples to illustrate how to develop a positive management attitude and effective business strategy.
Most Helpful Review: "This should be required reading for all contractors forming their own business. It's a quick read overall. This was a textbook in my master's program. I will keep it on my bookshelf for the rest of my life."
Financial Books
Rich Dad, Poor Dad by Robert Kiyosoki
I read this book 25 years ago when it was first published, and it has since become one of the most popular books of all time. Part financial advice and part mindset advice, the author's powerful lessons still hold true today. I like this book because its primary message is what I talk about all the time -- we need to create good habits and business systems and assets that work for us.
Most Helpful Review: "All I have to say about this book is, reading this book, seems to have wiped out a layer of fog in front of my eyes – the eyes of the mind. Clarity is everything. Now it gives me the ability to see further, clearer, and more objectively. All you have to do after reading this book is to take action based on that clarity."
Leadership Skills & Success Books
Clock Work: Design Your Business to Run Itself by Mike Michalowicz
Another classic read for all entrepreneurs, this revised and expanded version is another important guide on designing your business to run more efficiently. Instead of being bogged down in the daily grind, this book shows you how to get more done by doing less. I like this book because I am a firm believer in systematizing and is exactly how I've helped my contractor clients become more productive and successful.
Most Helpful Review: "f you own a business, you NEED this book. If you think you might start a business someday, then get this book. If you know a business owner that never has time to do anything but work, then get this book for them. (Unless they're your competitor, rival, or bitter enemy. Don't give this book to those people.) Time is your most valuable resource due to its finite nature. This book will help you turn time spent working in your business into time spent living your life. Stop wasting time and start getting it back. In addition to the quality information, this is also an entertaining read. It isn't like the countless "business" books that feel like you're reading a textbook. Definitely my favorite writing style for any nonfiction book. Clockwork should be considered mandatory reading for every business owner and is on my list of highest recommended business books."
Think and Grow Rich in 10 Minutes a Day by Napoleon Hill
This guide extracts the classic principles of the famous book Think and Grow Rich, so you can quickly study and put into practice one of the most influential personal development programs of all time. This is the best book to help re-think your mindset along your business journey. Keep in mind, the original book was published in 1937, so much of the language and stories sound outdated today. Nevertheless, its principles are timeless. I like this book because it synthesizes the key principles, action items, and stories from the original version and provides updated, relevant lessons for today that are doable in about ten minutes a day.
Most Helpful Review: "This is one of the best books I’ve ever read. It truly teaches how to have the right mindset for success. I ordered this for a client of mine who needed motivation and a business-oriented mindset. So far it’s helped her get organized, not get discouraged, and to keep pushing forward. I’m excited to see the results when she is done reading it. If it wasn’t for this book I would not own my own business today. If you are considering giving up on anything in life, or are demotivated in any way, or just want to have a better attitude towards things, this book is for you. You think you know everything about business and don’t need to learn anything... this book is especially for you."
Leader Shift by John Maxwell
This book is a master course in learning how to adapt to the change that is happening so rapidly today. To be successful, business owners must do more than stay the course. The key is becoming nimble and ready to adapt. I like this book because the author provides a roadmap for understanding how to move forward faster. He shows us how to stay ahead, see more than others, and see it before others do.
Most Helpful Review: "This book is essential for anyone in a leadership position. John Maxwell delivers some hard truths but also inspires hope for the future of collaborative leadership. Personally, this is exactly where I am in how I want to lead others. I love seeing a book that shifts the focus of leadership from "I" to "Us." His explanation of this is shifting our mindset from that of a soloist to one of conducting. While we can easily go on this journey alone, it is much more worthwhile and can be bigger than we ever imagined when we invite others into the process and help them to see that they have a very important role to play. This takes time. It requires us to slow down and to allow others do things. But the reward is awesome!"
The 4 Disciplines of Execution: Achieving Your Wildly Important Goals by Sean Covey, Chris McChesney, Jim Huling
Another revised and updated classic business book, this guide provides a simple and duplicatable formula for carrying out your most important priorities, even in the midst of day-to-day urgencies. To produce breakthrough results, the authors outline these 4 Disciplines: Focus on the Wildly Important; Act on Lead Measures; Keep a Compelling Scoreboard; Create a Cadence of Accountability. I like this book because it helps shift your mindset as a small business owner to a leader which is important in transforming the way contractors do business.
Most Helpful Review: "The principles illustrated in this book aren't new, but it's hard to find a great guide with practical steps on how to apply the principles. 4DX gives a great framework for how to actually go about achieving your goals. And it's not just for teams -- the principles and steps also apply to individuals, and they can be applied to pretty much any aspect of life, whatever your goals are."
Construction Management
If you’re in the construction business, construction management knowledge is essential when it comes to building a successful construction company. If you’re new to the construction field or need a refresher, here are five highly recommended books:
Construction Management JumpStart: The Best First Step Toward a Career in Construction Management by Barbara J. Jackson
This comprehensive book outlines the basics of construction business management, from project planning and estimating, to risk management and scheduling. It's a great read for contractors looking to enhance their management skills, or for the new contractor or construction project manager. I like this book because it's a great resource on the basics of construction administration and management, especially for new construction managers.
Most Helpful Review: "If you are looking to learn pretty much everything there is about the construction industry, from the types of projects, to project procurement, different delivery methods, estimation and pricing, and so on and so forth, this book provides a very in-depth analysis of every possible area of the field you could think of. It's very well written and covers every possible sector of the industry in immense detail."
Markup & Profit: A Contractor's Guide, Revisited by Michael C. Stone
This practical guide focuses on the financial side of residential contracting, providing valuable tips for estimating, pricing, and managing costs. It also covers strategies for building strong client relationships and improving profitability. I like this book because it provides tried and tested formulas for cost estimates and calculating profits.
Most Helpful Review: "Great book! Very helpful with lots of good insights and ways of doing business that I had all wrong. My profits are up, my customers are happy like always, and I am much happier. That shows in my work, and it's all thanks to this book helping me correct the mistakes I was making and gave me the confidence I needed to put the true value on my work and my time."
The key to success in your contractor business is not only about getting those big projects. It’s about setting up your business for long term growth and maximized success. The reason why most contractor business owners never reach their potential, is because they don’t have the right systems in place. You need a framework for success, and The One Hour Contractor will help you do just that!
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