Construction / Architecture / Project Management / Interior Design

The construction of a business is just as important as that of a building. If the foundations of a business are not designed with strength enough to cope with the workload or be robust enough to weather storms, a business is at risk of collapsing.

Measure what matters

In the construction industry, it is vital to earn the customers’ trust by staying within budget, meeting deadlines, and delivering on their dreams excellently, first time around. Go Far Consulting’s principal, Elaine, has a Master Certificate in Project Management. In industries where projects have a reputation for constantly changing the scope of work, it can be hard to know if you’re making enough profit.

What are the hidden costs?

There may be hidden costs that cause cash flow issues. Our business strategy is to focus on project management, maintain excellent communications and attention to detail, as these are steppingstones to producing excellent projects. If a company is looking to scale up, the last thing wanted is to scale up the risk. Understand exactly what every cost and detail is of a project. Scale up profits instead of dig a hole of debt. Keep bookkeeping and financial records up to date and manage projects with vigor.

Go Far Consulting has developed the exclusive 4 M’s process that integrates a wide range of tools and resources specifically for construction and trades professionals to provide insightful and productive results precisely to our client’s needs. Paying attention to sales management and growth of business. GO FAR Consulting specializes in helping make the business actions intentional, well planned, and aligned with goals.

topview of creative agency business brain storm meeting presentation Team discussing roadmap to product launch, presentation, planning, strategy, new business development

Do you know where the business is most at risk?

Within the 4 M’s, one of the first steps we look at is risk. There are so many areas that a construction business is at risk and before we start to grow the business, we must create a solid foundation and mitigate risk.

ASK YOURSELF?

1. How effective and accurate are the estimates?

2. Am I protected from my clients? Can I get the money I’m owed?

3. Where can people hold the business to ransom?

4. What causes risk to cash flow?

5. Is the business making the money it should be?

6. How can I get more profit and have less call backs?

7. Am I saying ‘yes’ to the right kind of projects? Who are the ideal clients?

8. Is the marketing as effective as possible and gaining a return on that investment? How do you know?

9. Has the business outgrown the current systems? Does software get used to its full capability?

10. Have you addressed succession planning? How the business is set up now is key.

11. How do you find quality employees and subcontractors with the appropriate skills?

12. Are you mitigating risk with appropriate contracts?

Over the years GO FAR Consulting has provided business coaching with many construction, and trade based companies to build the business strategy and develop businesses successfully. GO FAR Consulting is a business mentor to guide you and create understanding as well as structure the business, putting family and employees first, so you’ll be around to keep providing your expertise to clients. We have our exclusive 4 M’s technique to grow the business, and a team of experts to you every step of the way.

A building must be measured and inspected to make sure it is robust, level and correct. It is essential to continually measure and inspect a business in just the same manner.

We like to say, “What gets measured, gets managed.”