A no-holds barred truth about what is happening in the construction industry.
Thursday, April 20, 2017
The Case of Client A
Client A is a general contractor who was doing approximately $4, million in sales and they were in a negative liquidity position.
They came to me approximately two years ago and joined the Golden Hard Hat Mentoring program. Dissatisfied with their performance they wanted the help to get their business on the right track and performance levels.
After joining the program, we rolled up our sleeves to identify the deficient areas of the business, and started the correction process.
One deficient area was in their financials. It was messy. Nothing made sense. We immediately acted to correct this, including the dismissal of their present CPA.
We studied where the business was now, at that time, and where they wanted to take it utilizing the program information in Volume Two and plotting the course best suited for the business and set sail.
We corrected the financial reporting system with changes and regular review. We implemented the weekly financial snapshot, cash flow, and invoicing system that is in Volume Three. We analyzed the companies Time Distribution and balanced its output.
We also jumped into the organizational structure and brought order quickly. Yes, some people were let go, but we developed standard operating procedures, implemented training, and got the staff moving in the right direction, as outlined in Volume Four of the program.
We implemented the Employee Incentive Plan that is in the program, in Volume Three. Introduced it to the staff and enthusiasm jumped to the ceiling. Performance levels, getting the jobs done on budget, and on-time completion became the acting norm.
Immediately, existing customers started writing, saying how much they enjoyed working with the company. Rave reviews, repeat business, and referrals started taking hold.
We focused on what work we were doing and what customers and work were best for the company and focused our energy on those performance centers.
Today, that business is doing over $10 million with double digit net profits, positive cash flow in the six-figures every week, and the future looks bright.
Instead of finding excuses, procrastinating, or beating their heads against the wall, doing the same old things repeatedly, they admitted they needed help and acted by joining the program, rolling up their sleeves and getting to work on their business instead of in it.
How about your business? Are you ready to take control and break through some glass ceilings?
Getting started may feel difficult but the difference between your dreams and reality is called action.
The opening step is easy. Click on the link below and let's talk on a day and time that is convenient for you. I'll call you. If you like what you hear, then we’ll start the program. If not, we’ll part as friends.
Remember, the difference of working on your business versus in it will pay you back many times over in dividends in your future years.
Henry Goudreau has been a business coach, mentor, author, speaker and seminar leader to the construction industry for the last 24 years. His proven business model for contractors have helped his clients achieve and exceed their goals like it did for his own construction business. His education is in civil engineering and business. You can visit his website www.contractorcoaching.comor www.hgassociates.com or email him at: firstname.lastname@example.org