Business Strategy
Getting up and running It takes a lot of determination, careful planning and money to get going in this field. At the beginning you need financial backing so the important thing is to write a focused business plan. That's what investors are looking for. When I started, I had no money but fortunately I found out early on that with a positive attitude, a solid plan and focused energies I could accomplish what I set out to accomplish. Responsibilities In these past 22 years of building I have done everything from digging footings to putting on shingles. This was important because it gave me first hand knowledge of the process. You know what works and what doesn't, how long things will take and where the sticking points are. Then as your cash reserves, your credit, and your reputation build you hire other people to do the work. But it helps to have done it all yourself first. Priorities I have been self-employed for 22 years and in that time have learned a lot about how to design my business to fit with my preferred lifestyle. I have set my company up in such a way that I have no employees. My annual gross sales average about 2 million dollars and my office is in my home which also doubles as my model. I build 5 to 7 high-end homes per year. Some homes are "speculative" homes and some are "custom" homes. This is a different type of building. A lot of today's big "track" builders are coming from a business background and are mostly concerned with bottom line profits. Once the models are designed, a superintendent and staff carry out the duties of getting the house built. My niche is building one-of-a-kind homes. It takes seven to nine months for me to build a home from start to finish. I have never duplicated a home in 22 years. Once I've completed the house, the challenge is gone. I don't see any reason to do it again. I start from scratch each time. This carries the most risk but, for me, it is the most fulfilling type of building and it keeps the resale price at a premium. An important part of my business philosophy is that I place a high value on customer satisfaction. I always say, "If my customer likes it, I love it." I think you get a lot further in this or any business by doing your best to satisfy the customer. I don't have the time to do any of the actual work anymore but I have very capable lieutenants who take care of it all. They are not my employees, though. I am very independent because of the way I have set this up. It is a "lifestyle" not a "growth" business. This is a very conscious decision I made when I wrote my business plan. The reason I have designed by business to operate in this way is because I have other goals I am pursuing. My company is a very large part of my life and my primary source of income, but not my whole life. I am also a writer and published author and I have organized my business so that I have time and energy for these pursuits. |
A Day on the Job with Larry
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