Contracting is a good business! The thing that separates a good business from a bad business is whether you run the business or it runs you. I think we all agree that you need to run the business and to do this you need to recognize that the business is composed of a number of systems.
The systems that are involved include:
1. Project Procurement systems.
2. Marketing systems.
3. Take-off systems.
4. Bidding systems.
5. Office managerial systems.
6. Record keeping systems.
7. Billing Systems.
8. Collecting systems.
9. Etc …..
These are just a few of the systems that are involved in running a successful contracting company. If you really review the processes involved in running your business you can see that there are a lot more that needs to be added to my list.
I believe in breaking down each process into a system and you need to fine line how you approach each task. My reason for breaking each process into a different system is because once you identify each process into a system then you can develop an acceptable way that you want to have each process performed.
After you develop each system then you can teach every new employee how you expect that particular event to be accomplished.
This is basically the same procedure that McDonalds uses to run their different franchises. They developed a system for running the business and use the systems to cook hamburgers, French fries and every other item on their menu. Every item has a system!
I will explain my line of thinking in upcoming articles.