The residential construction industry is important to the financial health of the nation. The construction industry is operates on following a specific set of plans and specifications to arrive at a desired finished product. But a survey of builder and remodeler members of the National Association of Home Builders (NAHB) revealed that fewer than 12 percent had a written business plan, fewer than 15 percent had written operating budgets, less than 18 percent had written mission statements, and almost 70 percent of respondents had no formal planning procedures. Maybe that’s the reason small businesses in the construction industry have the second highest 5 year failure rate of all industries.
Your business plan is the most important management tool you have. It defines your strategy, tactics, and specific activities for execution, including dates and deadlines, budgets and cash flow. It will guide you regarding the types of projects to pursue, how you market your company, the people to hire and the funding needed to succeed. Planning establishes your short-term, intermediate-term, and long-term goals and outlines how you can achieve those goals by breaking down long-range plans into manageable short-term goals that everyone on your team can identify and support.
Your business plan will help you focus strategy, manage milestones, manage metrics, assign and track responsibilities and performance, and manage money using projections for sales, costs, expenses, and cash.
Our Business Planning services include working one-on-one with our clients to develop a working business plan focused on market research and analysis, product development and pricing strategy, sales and marketing strategy, operations planning, and financial forecasting and budgeting to achieve and maintain the key financial and operating ratios.
“However beautiful the strategy, you should occasionally look at the results,” – Winston Churchill
Our business coaching services include serving as an accountability partner after they have developed their business plan and meeting on a regularly scheduled to insure that they are implementing it, or consulting with them on as needed basis when they need advice on how to address new challenges. Coaching sessions involve one-on-one meetings with clients either in person or via phone or video conference.