We’ve put together some frequently asked questions to provide you with more information on Chuck Miller Consulting LLC and the services we offer.

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Business Planning & Coaching

Why do I need a business plan?

Success or Failure – What The Statistic Reveal

A survey of builder and remodeler members of the National Association of Home Builders 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 had no formal planning procedures.

According to the Small Business Development Center (SBDC), about 25% of small businesses in the construction industry fail their first year, 35% fail in their second year, and about 65% fail within their first five years – the second highest failure rate of all industries. Moreover, these rates are relatively consistent over time. Another key point., year-over-year economic factors do not have much of an impact on these small business failure rates.

Additionally, SBDC research reveals that nine out of ten business failures in the United States are caused by a lack of planning and general business management skills. However. a written business plan forces business owners to assess their business management knowledge and skills.

Do you want to improve your business performance?

A 2010 Study “Should entrepreneurs plan or just storm the castle?” found that planning improved business performance. Additionally, that same study found that planning improved business performance and benefited existing companies more than it benefited startups.

Do you want to grow your business?

Another study showed that companies with written business plans grew 30% faster and were more successful than companies without a plan. And another study found that 71% of fast-growing companies – companies with over 92% growth in sales from one year to the next – have plans, create budgets, set sales goals, and document their marketing and sales strategies.

Why should I take the Plan To Profit live online course instead of just purchasing the book and following the blueprint?

Do you ever struggle with being disciplined enough to accomplish the things you want to do in your business?

Do you set goals and deadlines and stick to them?

Do you find it difficult to be proactive about the things you want to do in your business and know you should?

Do you tend to procrastinate and work well mostly under deadlines and high pressure?

Human beings have been procrastinating for centuries. The problem is so timeless, in fact, that ancient Greek philosophers like Socrates and Aristotle developed a word to describe this type of behavior: Akrasia.

Akrasia is the state of acting against your better judgment. It is when you do one thing even though you know you should do something else. Loosely translated, you could say that akrasia is procrastination or a lack of self-control. Akrasia is what prevents us from following through on what we set out to do.

One explanation for why akrasia rules our lives and procrastination pulls us in has to do with a behavioral economics term called “time inconsistency.” Time inconsistency refers to the tendency of the human brain to value immediate rewards more highly than future rewards.

When we make plans for ourselves, we are actually making plans for our future self. We are envisioning what we want our life to be like in the future. When we think about the future it is easy for our brain to see the value in taking actions with long-term benefits.

However, when the time comes to make a decision, we are no longer making a choice for our future self. Now we are in the moment and our brain is thinking about the present self. And researchers have discovered that the present self really likes instant gratification, not long-term payoff. Our brain values long-term benefits when they are in the future, but it values immediate gratification when it comes to the present moment.

This is one reason why the ability to delay gratification is such a great predictor of success in life. We can bridge the gap between where we are and where we want to be by understanding how to resist the pull of instant gratification.

Enroll in the live online Plan To Profit course to beat procrastination

Your “commitment device”

We can beat procrastination by creating what psychologists refer to as a “commitment device.” A “commitment device” is a choice you make in the present that controls your actions in the future. It is a way to lock in future behavior, bind you to good habits, and restrict you from bad ones. Your “commitment device” could be enrolling in the online Plan To Profit course.

Your accountability partner

You can ensure that you complete your businesses plan in a timely manner by having a business accountability partner .

An accountability partner is someone you meet with regularly that holds you accountable to doing the things you need to do to accomplish the things you want to accomplish.

It’s someone that knows you and your business (or that you want to build a relationship with) – someone you’re willing to give permission to call you on your B***S***, challenge you, ask you tough questions, make observations, and of course, hold you accountable. Your accountability partner has a more objective perspective and can challenge you on what or how much you have planned. This is especially helpful if you’re someone who thinks you can accomplish an unrealistic amount (setting yourself up for disappointment and feeling an unnecessary level of stress).

When you enroll in the live online Plan To Profit course, Chuck becomes your primary accountability partner. In addition, all of the other individuals enrolled in the course also become accountability partners.

What are your fees for business planning and coaching?

My business planning and coaching services begin with an initial consultation to determine what you require. There is no charge for the initial consultation. We offer three (3) differing pricing methods,

Hourly

My fee for business planning and coaching is $200 / hour.

Project Based Method

The Project Based Method removes a lot of the uncertainty around hourly billing. You know what you pay upfront.

Based on your input during our initial consultation regarding what you require, we will create a list of deliverables. We will then prepare a proposal detailing the cost.

For example: If you require Market Research and Analysis, the deliverables might include:
Conduct market research including:
• Demographic
• Psychographic
• Consumer, and
• Competitive
Identify your target market
Recommend what to build
Recommend where to build it, and
Recommend how to price it
Identify competitors’ vulnerabilities
Identify barriers to entry
Identify windows of opportunity
Identify business risks

Value-Based Method

Like the Project-Based Method, the Value-Based Method is based on your input during our initial consultation and what you care about the most – the results you want to realize. The Value-Based Method takes into account both the Tangible Value and the Intangible Value of your goals and objectives.

Tangible value includes goals like increasing sales, reducing operating costs, improving net profit, managing cash flow, etc.

Intangible value includes emotional and subjective factors that influence your decision. For example, completing the project will make make your life much easier and allow you to focus more on running the business rather than stressing about cash flow.

We will prepare a proposal based on the projected return on your investment (ROI) with a goal of creating a 10x ROI.

ROI = Intangible Value+ Tangible Value + Annual (Y-o-Y) = Value-Based Price

We will present 3 options to choose from depending on your level of risk.

Option 1 – Lowest Price: The minimum service or features needed to reach a successful outcome.

Option 2 – Middle Price: All the services or features from Option 1, plus additional services that will add more value and increase the level of certainty.

Option 3 – Highest Price: Includes everything from Options 1 and 2, and added value if you want the result as fast as possible and are willing to invest significantly more.

Billing

Fees are billed monthly on or before the last day of the month. Payment is due within ten (10) days from the date of the invoice.

Additional Costs Not Included In the Hourly Fee:

Out of Pocket Expenses – Reimbursable expenses which include but are not limited to conference room(s) rental, long distance telephone charges, copying costs, special mailing costs, and other related expenses.

Travel Expenses – Reimbursable travel expenses include airfare at coach rates and all taxis, shuttles or car rental expenses. Personal automobile mileage will be reimbursed based upon current IRS rates from my office. Lodging costs incurred are reimbursable. Meals will be reimbursed on a per diem rate of $75 per day. Travel time from my office will be billed at one-half (1/2) of the regular hourly rate. Overnight stays required shall be billed at a rate of $450 per overnight stay.

Expert Witness Services

What are your fees for expert witness services?

My fees for wxpert witness services are:
$200 / hour for initial review of case documentation, on-site inspections, report composition, and other work done at the onset of a case.

$250 / hour for participating in depositions.

$250 / hour for providing trial testimony in court.

The hourly fees may be more depending on the complexity of the case, the specific construction knowledge and experience required and the geographic area in which the case is being adjudicated.

Additional Costs Not Included In the Hourly Fees:

Construction Mediation/Arbitration Services

What are your fees for construction mediation/arbitration services?

Chuck works with Construction Dispute Resolution Services (CDRS) to provide construction mediation/arbitration services. Construction Duspute Resolution Services is a professional dispute resolution firm that specializes in both residential and commercial construction disputes. CDRS is available to conduct mediations and/or arbitrations anywhere in the United States and in selected foreign countries. Additionally, CDRS also specializes in providing experts to serve on Dispute Review Boards and Construction Settlement Panels for major construction projects.

Fees start at a minimum fee of $300.00 per hour depending on the complexity of the dispute, the number of Parties involved in the dispute, the expertise required of the CDRS Dispute Resolution Specialist and on the geographic area in which the dispute resolution process will be conducted. CDRS does not charge any up-front or separate administrative fees. The CDRS administrative fees are included in the hourly fees of the CDRS ADR Specialist. The minimum charge for a standard mediation/arbitration case is five (5) hours. The minimum charge for a home inspection case is four (4) hours, Reimbursable costs and expenses, described below, shall be added to the hourly fees. Each case requires a non-refundable $450 filing fee at the time that a “Request for Dispute Resolution Services” is submitted to CDRS. ($600.00 in California, New Jersey and Maryland)

Aging-In-Place Consultation

What is aging-in-place?

Aging-In-Place means growing older at home. Aging-In-Place refers to a person in their golden years when they can live in the residence of their preference and are still able to access the things they require and used to in their daily life. It means a person making a conscious decision to stay in the their home for as long as they can with the comforts that are important to them. As they age these may include adding supplementary services to facilitate their living conditions and maintain their quality of life.

What are your fees for aging-in-place consultation services?

My fee for aging-in-place consultations is $200 / hour.