The Decision Economy
EXECUTIVE PERSPECTIVES
Decision-making with intent When the conversation turns to decision-making, Michael frames it around clarity of ambition. Discussing the decision to bring in a minority private equity investor, he was clear about the objective. “We didn’t want to fully exit the business,” he said. “We wanted to scale and grow.” External capital was positioned as a tool rather than an outcome in itself. “We use that as a tool to get finance and do what we need to do to build the business.” In this context, decisions are driven by direction and the emphasis is on maintaining momentum while putting the right structures in place to support growth. The role of advisers Michael was explicit about the role advisers played in shaping that decision. “With FRP guidance, we decided that a PE investor was the best route for us,” he said. The support he describes is practical and enabling. Advice helped validate direction, structure the decision and move it forward. “I think that’s down to funding not being available,” he said. “The cost of living has gone up that much that apprentice wages have gone up, so nobody can afford to take them on. It’s too much overhead.” Rising fuel costs also feature, driven by the scale of the operation. “I’ve got a large fleet of about 90 vans,” he noted. “Fuel costs are a big problem for us.” Despite these challenges, Michael does not describe the business as constrained in its ability to make decisions, but as selective about where focus and effort are applied.
This approach mirrors how Michael approaches his own business.
Culture and team as the foundation for speed Michael is deliberate about protecting the culture that has enabled fast decision-making as the business grows. As Buston & Maughan expands through acquisitions, his focus is on retaining the people first approach that has underpinned success to date. Decisions are shaped by a strong sense of fairness and responsibility to employees, reflected in regular pay reviews, improved benefits and an emphasis on supporting people. This approach influences how decisions are taken and implemented, with trust and accountability. Pace is also supported by the team around him. Michael has built a senior management group that understands both the business and his leadership style, providing oversight and continuity as the organisation grows. As he describes it, “I’ve built an unbelievable management team. I drive for the work, and then they’ll deliver.” As the business scales, retaining this culture and management depth is treated as a priority, recognising that speed in decision-making comes as much from people and structure as from individual leadership style. “I know my market inside out,” he said, reflecting on acquisition opportunities. “There’s a lot of good firms out there.” Deep market knowledge allows decisions to be taken quickly, with advisers supporting execution and scale.
Michael Buston Chief Executive Officer of Buston & Maughan Connect on LinkedIn
Background Michael Buston is Chief Executive Officer of Buston & Maughan, a North East-based construction and property services business operating primarily in the social housing sector. Headquartered in Willington, County Durham, the business has grown steadily by focusing on delivery, scale and strong client relationships. When asked to describe the current operating environment, Michael’s assessment is grounded. “I don’t see this as an issue,” he said. “Apart from labour shortages and material rises with what’s going on with the war, it’s business as usual.” This perspective reflects a business that is experienced in operating at pace in a regulated environment, where external shocks are absorbed into the day to day operations. Labour, skills and cost pressures For Michael, the most pressing challenges are specific and operational rather than strategic. “The only pressure problem is labour shortages,” he explained. “There’s a lack of trades coming through.” He links this directly to structural issues in the labour market.
6
Made with FlippingBook - professional solution for displaying marketing and sales documents online