Most of the frustration business owners experience comes from the feeling that they are always having to invent new solutions to problems they face. The weight of always having to be innovating is huge…, and exhausting.
However, if the builder can identify the risks involved in running a construction company, then he can begin preparing to confront those risks, or at least be ready when confronted by them. She won’t have to create something new for each occurrence. She can build a system to meet the challenges.
Identifying risks can be a very expensive process, or it can be done the smart way.
The expensive process of risk identification is to let the risks come at you unannounced, and then pedal like hell to deal with them.
The smart process is to identify the risks inherent in a construction business and prepare to meet them ahead of time. Builders can do this by developing systems to deal with identified risks.
Murphy’s Law – “Whatever can go wrong, will go wrong” – is a mathematical and business reality.
So the business owner must prepare for that eventuality certainty.
My task as a coach to builders is to help them identify the risks they will face as they conduct business and help them prepare for those risks. I have previously stated that there are five ways to handle risk –
Option one is a non-starter unless you do not intend to be in business for very long.
Options 2-5 are strategies that are available to the builder and the builder’s coach.
The training sessions, the methods by which the builder will discover how to identify business risks and prepare to handle those risks, will pivot around strategy FIVE - Reduce the risk.
Each month we will begin by identifying one of the major risks the ProBuilder faces.
Week One - will be spent talking about the risk, and how that risk plays out in a construction business.
Week Two - will focus on the negative aspects of allowing that risk to run amok in your business.
Week Three - builders that have subscribed to learn more about how to handle the identified risk will be introduced to resources I have developed to handle the risk. These resources will be delivered by email to the Builder and then introduced in a seminar setting, with a time commitment by the builder of 30-60 minutes.
Week Four - will concentrate on implementing the risk management strategy into your business. This will be accomplished with at least one seminar, and possibly several seminars, where implementation strategy will be discussed and builder questions answered.
This implementation phase is critical. All too often, I talk to builders who have downloaded resources from the Builder Resources website and discover that they haven’t implemented the strategies into their business yet.
Without implementation, a GOOD IDEA, a BAD IDEA and NO IDEA all have the same value = ZERO.
When we are talking about handling risk, we are really talking about protecting your money – either money you have and don’t want to lose, or potential money you would like to have, don’t have yet, and don’t want to lose when you have it. In either case, if you’re not prepared for the risk, the risk is going to take your money.
Prepare to handle risk now instead of letting it blind-side you.That’s what smart money does.
If you want to know how to better handle your business in any of these scenarios, you want to be a part of the Business Risk Management program being offered by Builder Resources.
Preparing to handle the risks of running a construction business:
That’s what Builder Resources focuses on.
You Build. We Biz.
expresses our commitment to partner with you to protect your construction business.Builder Resources can help set up those policies, processes and procedures you need to handle the risks of being a ProBuilder.