Plan To Profit: Business Planning for Builders and Remodelers

Your business plan, a crucial element of business strategy for builders and remodelers, is the most important management tool you have.

The first step in creating your business plan is market research. If you are a builder, your market research will be the tool you use to determine who your competition is, your target market is, where to build it, how to price it in your competitive market, and how to market it. If you are a remodeler, it will be the tool you use to determine who your competition is and your target market including the types of projects to pursue, the markets and submarkets where your services might be needed the most, how to price your services, and how to market them.

Your business plan will be the tool you use to determine how to market your product and services. It will guide you in establishing your short-term, intermediate-term and long term goals. Your goals will enable you to develop your strategy for achieving your goals. Your strategy can then be developed into the tactics – the short-term actions that you will execute to achieve your goals. Your tactics – the activities you will need to execute – will include dates and deadlines, budgets and cash flow. They will help you determine who you will need to hire and the funding you will need to succeed,

Your business plan will provide the tools you need to assign and track responsibilities, measure your performance, manage milestones and metrics, and manage your money using your projections for sales, costs, expenses, and cash.

Your written working business plan will

⇒ Give you greater control

⇒ Set objectives and goals for your business and staff

⇒ Facilitate and enhance your decision making

⇒ Drive improved results by providing benchmarks for performance

⇒ Stabilize your financial performance

⇒ Help you anticipate and manage change

⇒ Reveal future opportunities and concerns

⇒ Help you gain a distinctive competitive advantage in the competitive landscape of builders and remodelers.

⇒ Facilitate growth

⇒ Reduce your stress

⇒ Help you improve your Life Balance