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
- Equipment/inventory management
- Financial management
- 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:
- 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.