Business Plan Essentials for the Busy Contractor and Home Builder
You did it. You quit your day job. You took the contractors exam and now you are a home builder. You begged, borrowed and scraped together the money to start up your business, but you’re not sure about your next steps.
You can’t understand why you have less time, less money and no life – you had all those things when you had a “real” job. After all, you didn’t become an entrepreneur to have your life high-jacked; you did it to become your own boss. You wanted to offer a great product or service to your clients, take pride in your accomplishments, and do it on your own terms. You’re certain you have the beginnings of something good, but there’s something missing. What is it?
I talk to home designers and contractors on a regular basis. I listen as they tell their tales of late nights, empty bank accounts, and hard work. In most cases these entrepreneurs have one thing in common – they have failed to put their ideas to paper. Most are challenged by the day to day details of managing the business and they simply have never written a business plan.
I ask them “Would you go on a road trip without mapping out your destination? Would you build a house without blueprints? Would you make a gourmet meal without a recipe?” No, they answer they wouldn’t. But somehow they have failed to make the connection between having a successful business and planning for success.
There is more to business success than having a big bank account. One company I know grew their business from two partners with a wood saw, small shop and one-project to a multi-project company with numerous subcontractors performing the work. Sales skyrocketed, but the company was less successful and far less profitable than it was when it was small. Why is that? The company had no vision, no mission, no objectives, no strategies and no plans to build the business into something truly successful. It’s “take every job”, miss-manage the cash flow, and try to get by. It’s easier to do nothing and just bring in the money than it is to actually plan, strategize and agree upon the true direction of the company.
If this sounds like you, don’t be discouraged. It’s really quite common. The challenge is to rise above the norm and take your business one step further. Make sure your business is around in five years by creating a Business Plan that lays out your objectives and creates a path to follow that leads to long-term success.
Are you ready to take the Contractors Challenge? Get out a piece of paper and answer the following questions.
1. What is the vision of your company? What will the company be known for? What is your role? How will you spend your time in the organization? What will the company look like in 5 years?
2. What is your company mission? Why does this business exist? Why will your customers buy this product or service? What value does this product or service provide the client? What passion are you satisfying by building this business?
3. What are the goals of this business? What are the specific measures? How many paying clients will you have and by what date? What are your sales objectives for 2010? 2011? 2012? What are your personal objectives? How many hours a week will you work? What days will you work? How much will you save for retirement? When will you take vacations? How will you create balance in your life? How will you deal with stress? Will you plan for diet and exercise?
4. What strategies do you have to grow this business over time? How will you promote and sell to your customers? What opportunities exist? How can you capitalize on them? What threats exist? How can you minimize them?
5. Finally, what are your marketing activities, the intricate details to get the work done? Who will do each action item, and when will it be done? Be sure to include dates in your plan. What are the next steps?
While a business plan cannot guarantee success, it can certainly help to map out a path for you to follow that will yield results in the form of a more balanced life, lasting abundance, and pride in a thriving business.
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©Copyright 2009-2010 - Suzanne Muusers - All Rights Reserved
About the Author:
Suzanne Muusers is a Business Coach based in Scottsdale, Arizona. She is a credentialed member of the International Coach Federation and has owned or managed a business every year since 1981. She is the creator of The Two Page Mini Business Plan™, The Secret to More Business Income. Visit her site: http://www.prosperitycoaching.biz
Suzanne Muusers
ICF-Credentialed
Business Coach
Prosperity Coaching LLC
Copyright© 2009-2010 |Suzanne Muusers | All Rights Reserved|
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