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You started your building and construction business because you were good at what you do. But as you’ve grown, it’s getting harder and harder to get off the tools and focus on the business. After all, being great at your trade is what got you it in the first place.
But how do you go from builder to entrepreneur without your business falling over in the process?
We asked our business advisors on tips they’ve seen working first-hand for tradie and builder clients.
10 ways to go from builder to entrepreneur
Here are 10 ways to get off the tools and start building a thriving building and construction business.
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Build your ultimate team
Can your team function when you’re not on site? Are there skills and areas people still need your expertise to fill?
You might think you’re saving money by doing things yourself, but it takes you away from more valuable (and money-making) areas of the business. Empowering, upskilling or expanding your team to ensure you can step out and focus on growing the business.
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Know your customers
Entrepreneurs might have a great idea, but success comes by knowing their customers inside and out. Your ability to read and know a customer’s needs means you’re the tradie or builder they go to every time.
And when you’re not in the room? Build out processes and procedures to make sure your team can deliver the quality and desired outcomes your customers expect every time.
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Patch your weaknesses
Like with any job, we have things we’re great at and things weren’t not. Outsourcing your weaknesses shows great leadership and ensures you’re focusing on what you do best (and what makes you the most money).
Hate admin and bookwork? Get a bookkeeper or administrative assistant. Feel out of depth at numbers and what you need to grow? Get a business advisor to look after the business strategy.
This also applies to your business. Do you know what your risks and weaknesses are? Working with a business advisor like Mead Partners, you can uncover your business risks and put strategies in place to patch those business holes.
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Take responsibility and step up
When you’re not hitting targets, it can be easy to point the finger at a customer, project, or your wider team. But that’s the difference between an employee and a business owner and entrepreneur. When things go wrong, the buck needs to stop with you.
Taking responsibility not only sets a great example for your team, it fosters trust and open communication. These missed marks also open the door for learning and build up resilience.
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It’s all in the dollars and cents
This is where entrepreneurs really shine. They know their business inside and out, and know exactly where their dollars and cents are going.
And if the details aren’t their thing? Entrepreneurs build a team of business advisors, mentors and other partners around them to tell them how to make those dollars and cents go further and open up growth opportunities.
Understanding the financial health of your business can also help you make more strategic and informed business decisions.
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Feedback to build up
Being able to step back and take on feedback – whether from customers, your team, or external sources – not only helps you as a leader but also a business owner.
Feedback can be a valuable way to fix issues, build better relationships, and provide more value to your customers. It also shows you value their opinion and can uncover new ways of doing business, opening up potential new revenue streams.
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Unlock time and revenue blockers
Where is your team spending the most time? Could a better (digital) process help them be more productive and unlock efficiencies, in turn saving you money?
By reviewing how you do business and project processes, you can reduce manual tasks, double-handling, and streamline procedures that are killing time and money.
This isn’t always an easy task to do when you’re in the thick of it. That’s where leveraging a business advisor in building and construction like Mead Partners can really help. With hands-on experience from others builders and tradies, they know where to look and what makes the biggest impact to your bottom line.
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Planning is your secret weapon
You wouldn’t start a project without a scope of work and schedule for your team and just ‘hope for the best’. So, why would you jump into business without a business plan to meet your goals?
Building out a business plan keeps you on track and focuses on the biggest growth areas. Not sure how to build a business plan or just don’t have time? A business advisor can help you build a plan to help you reach your business goals.
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Refine and improve
Saved more on one building project over another? Perhaps you’ve uncovered a recurring issue that’s causing delays? By reviewing your processes and procedures, you can continuously improve the quality and efficiency of your work. In turn, continuously improving your customer’s experience and the chance of referral and repeat business.
Areas of improvement don’t just come from your team or customer feedback. Financial and business insights can also help you find areas of improvement and opportunities for growth.
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It’s not a 9 – 5
As a tradie or builder, your job’s never been a 9 – 5 but when you were off the tools you might have been able to switch off. Sadly for many business owners, it’s outside of business hours that seem the most draining. Especially when during the day all you’re doing is putting out fires and never getting time to focus on day-to-day business tasks. It’s these hours where stresses, uncertainties and pressures really hit you, and it can be overwhelming.
Here, having someone in your corner like a mentor or business advisor can make a massive difference. Not only do they get the pressures, they can help you sort through it all and put a plan in place to give you peace of mind. They can also help you unlock more time to focus on the business, rather than spend all day putting out fires and running yourself into the ground.
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