Your Construction Company Business Plan

It was during a camping trip that two groups learned standard operating procedures differences can be considerable. For example, building a campfire:

• One group had a process. They stacked kindling log-cabin and teepee style then carefully inserted moss and other materials in their firestarting structure.
• The other group tossed a bunch of twigs together and lit a match.

Both groups got campfires. But the campers that built a solid foundation spent more time planning and less time doing damage control. The toss-the-twigs group got their fire going sooner but had a harder time keeping it going.

Construction Business Plan Basics

Most new companies develop a business plan immediately, but some just toss their twigs in a pile and light a match. Business coach and author George Hadley offers suggestions for what should be in your construction company business plan.

The fundamentals include:

• Overall company mission, vision/values – Why are you in this business? What do you hope to accomplish? How can you maximize time, energy, and money for the best possible return/outcome?
• Processes for:
  • Business development
  • Business-building
  • Equipment/inventory management
  • Financial management
  • Problem-solving
• Staff assignments/responsibilities – Surround yourself with the best talent possible. They’re worth the investment. List the positions that would most benefit your company; they may include:
  • Estimating
  • Finance
  • Marketing
  • Operations
  • Sales
• Training program – What makes a bookkeeper valuable? The skills and qualities may not be the same as required for an effective foreman. For 20 minutes every week, hold training sessions that reinforce the top 5 qualities that your team members need to grow your company. Incentivize your professionals at every training session.
• Who’s who and their strengths/weaknesses – Once you’ve listed the team members and their roles/responsibilities, evaluate the list. You may have several people in the wrong roles.

Construction Monitor & Business Development Tools

Are you developing a construction company business plan? If yes, you’re building a business. Your plan includes business development, and it forms your company’s foundation. What you do with landed jobs determines future growth.

That’s what we do: We give you the tools; information you need to build your business. What you do with those tools makes all the difference. To learn more about marketing plans for your construction company, contact Construction Monitor.