Built to Build: Blog
HERE IS THE SIMPLEST WAY TO GUARANTEE A PROFIT FOR YOUR CONSTRUCTION BUSINESS
YOU MUST MAKE A PROFIT WHEN THE MARKET SLOWS
In a slow market, you need to identify the opportunities that generate a profit as soon as possible.
You don’t have time for exploration.
WHAT MAKES YOUR BUSINESS A PROFIT?
When you get clarity on what generates a profit for your business, then you will know where you need to pivot when the market slows.
A pivot in business describes when there is a structured course correction designed to figure out new areas for business growth.
But, in a slow market, there isn’t time to figure it out. You’re in cash preservation mode.
The problem is most construction business owners don’t know what makes their companies profitable.
That’s where The Boring Success Formula™ comes in.
THE BORING SUCCESS FORMULA
You have to focus on profitable products and services, and eliminate everything else.
That is the basis of The Boring Success Formula™.
Here’s how The Boring Successful Formula™ works.
When someone asks you, “How did you become so successful?”, I want you to be able to give them this answer:
“We just identified what makes us money, and we did that every day. We also identified what was losing us money and we stopped doing that.”
That answer is kind of boring, but the business behind that answer is not. When businesses get focused on the right things and eliminate distractions, they make more money, create engaged employees, and attract better customers. That’s an exciting business to own, a great place to work, and a service that is in high demand.
HOW TO GUARANTEE SUCCESS FOR YOUR BUSINESS
Ask yourself these two questions to calculate your Boring Success Formula™:
- What services/products make us the most money?
- What services/products cost us money?
The answers to #1 may not be sexy, especially in a slow market, but you’re not in business to be sexy. You’re in business to make a profit.
The answers to #2 must be eliminated from your business. You can’t afford distractions in a slow market.
Cash preservation must be the first step in your plan because you are going to need cash to put the next two steps of your plan in place.
DO THIS NEXT
The Boring Successful Formula™ is just a small glimpse into the resources offered in the Built to Build Academy™.
The Built to Build Academy™ creates confident construction business owners through on demand business training and coaching programs so you can make more money, streamline your business, and get your life back.
Want to grow your construction business with strategies like the following:
- How to charge for all the planning and estimating work you’ve been giving away for free
- How to deliver a better customer experience that doesn’t require you to do all the work
- How to produce fast, accurate estimates by using your own custom database of pricing information
- How to attract talent to grow your team without overpaying or wasting time with “know-it-alls”
- How to create any system for your business so you can get off the tools and focus on the business
Enrollment for the academy opens in a few weeks, but you can get access to early enrollment plus exclusive offers not available to the public by joining our waitlist.
Join our WAITLIST, and I’ll send you an exercise from our Effective Time Management program (it’s completely FREE).
I’ll also send you a few emails about the other programs in the Built to Build Academy™, and you can decide which one is the best fit for you.