How important are the foundations for a building? How does this relate to a business?
A poor foundation creates a weak structure that could possibly fall. A strong foundation stands for many generations.
The foundations of our business are just as important as the foundation of a building.
A strong foundation enables a business to grow and flourish.
If the foundations of our business are not strong enough to cope with the work load, our business is at risk of collapsing. And this is why 80% of businesses fail within the first few years.
In construction, a lot of work goes into getting the foundation set up correctly. Think about it - all the planning, measuring, the ground leveling, the soil structure, the supports, piers, not to mention the sweat and energy that goes on just to prepare the foundation - even before the building gets started.
It is important to have a foundation that is planned, well thought out and sturdy enough to hold the structure.
It must be measured continually and inspected to make sure it is level and correct. We must continually measure and inspect our business in just the same manner.
What gets measured, gets managed.
I put the foundation of our business into four categories, the 4 M’s
Method, Management, Momentum and Money
The four walls of our business are:
- The structure - how the business is set up
- Getting the work – involves sales and marketing
- Ability to do the work – knowledge, team, equipment, resources
- Making a profit – involves scope of work, project management budgeting, team management & risk management
How strong are the foundations of your business? Does it need an inspection to evaluate the strengths and weaknesses?
Check all aspects of your business to see where you might be at risk
For a complimentary check list, please down load the assessment to help you understand the structure and strengths of your business.