Summary of Thoughts

Being a business owner, operating as a trade subcontractor, in the design and construction industry is not for the faint of heart.  The competition is fierce; the terms and conditions that one has to follow are many and often times complex; the estimating process is laced with risk and uncertainty; the manpower requirements are impossible to schedule and manage; the margins are razor thin; and getting paid for your work on a timely basis can be a roller coaster ride with more ups than downs.

But to own your own company, call your own shots, and fight through the challenges and win can be exciting and on par with the other thrill-seeking adventures in life.  There is something inherently contagious about unraveling the maze of seeking a project, establishing a relationship, landing a project, completing a project, getting paid for that project and then immediately jumping back into the arena in search of your next project.  It is also quite rewarding to please a client and see your finished work in place.

I suppose the excitement, the sense of the unknown, and the thrill of solving a mystery are enough to overcome the many obstacles that seem to be scattered all over the road to success.  Seeking success can be intoxicating.

My goal with this series of blogs was to point out certain roadblocks and provide new business owners with knowledge and wisdom, based on my years of experience, that will help them in their journey and save them from falling into the pitfalls of failure.  Reading this series of blogs will not provide you with all the answers but it should, at the very least, cause you to stop and think, and seek help along your journey.

The fifteen points discussed are all important and I will tell you quite honestly that you will not find long-term sustainable success without taking all fifteen of these points seriously.  You may find some short-term success; you can certainly win a job or two; but if you want to be called back to the table for seconds and thirds and beyond, you have to run a tight ship and you must give owners and general contractors a reason to call you back.  You are not the only painter, carpentry firm, drywaller, or plumbing contractor in the marketplace.  You cannot win projects on price alone and find success long-term.  It simply does not work that way.

If you have a passion for your work and for the industry; and if you have respect for the process that is design and construction; and if you communicate clearly and often; and manage your company with integrity; this will lead you to wanting to keep good office records and accurate and timely accounting records.  This will also lead you to plan and prepare for success, long before you hit the jobsite.

I have seen statistics floating around that say that if you can make it for three to five years starting and managing a new business, you have an excellent chance of making it long-term, or forever.  I believe strongly that in this industry, the time to be lax and take your foot off the pedal never actually comes.  It is a battle year after year after year.  The challenges you have in your fifth year will be different than the challenges faced in your first year, but they will be there nonetheless, waiting for you to unravel.  But your passion and your experience and your participation in the industry will pull you through.  Your need for these business traits will never be minimized.

Stay true to your passion; treat all you encounter with respect; always be honest, straightforward and open to communication; and perform your scope of work in a way that meets or exceeds the expectations of your clients; and you can sit in that management seat forever.

Business owners that survive for generations never lose sight of their moral compass; they are always looking for ways to better their company; improve the process; outshine the competition.  Success over the years will allow you to switch lanes, increase your customer base, and be in a position to help others through the maze.

Thanks for reading and thanks for your participation in our industry.  I wish you the very best.

Author’s note:

I visited my granddaughter’s fourth grade classroom at Bierbaum Elementary yesterday and saw this poster on her good friend’s fifth grade classroom wall:

Be prepared!

Eyes on the speaker!

Be an active listener!

Raise your hand!

Show integrity & independence!

BE RESPECTFUL!

The expectations of a fifth grader are no different than those of a new business owner in the design and construction industry.  We can all learn from the lessons of our past.