Do you have what it takes?
That is the starting point of all questions by entrepreneurs going out on their own.
This book - KITCHEN & BATH BUSINESS AND PROJECT MANAGEMENT targets the niché Contractor focusing on Kitchen and Bathroom build projects and it dares the Contractor to question if indeed they do have what it takes to start and run their own business.
“You’ll need guts. Guts to start and guts to believe in yourself. Guts to take on many challenges, guts to face failure and guts to stick it out.”
-Quote from ‘Kitchen & Bath Business and Project Management’-
One strong start-off point in this book that I haven’t found so much in others, is the focus on self-evaluation. Before they tell you how to get it done, they make you face yourself and see if you indeed can get through all the tasks involved.
With a self-assessment test that goes into your background and general approach to different situations. For example, Do you get into trouble because of curiosity? Do you find it easy to identify flaws in other people’s ideas? …these are just two of the long list of questions that are then able to place you as more successful working for someone else or better placed as a highly innovative entrepreneur.
Recognising your own weaknesses is just as important as celebrating the strengths that will move you forward. As such the book also gets into several reasons why so many small businesses fail in the first six years - a perspective that is always interesting to see.
From that jump-off point the book gets into the various business models and the stages involved for your company to grow and remain sustainable. And of course then comes the often controversial business plan.
What is your personal opinion on business plans? Do you think it’s a must-have or a good to have? Either way, the book guides you on this as well.
Being a Contractor, financial strength is very important - the book gets into how to leverage your credit and borrow, pay yourself and others, keep good records and track the performance of the business.
Learn the difference between profit and markup…and the difference between cashflow and your income statement.
Apart from addressing financial management they get into how to handle administration like a pro and highlight that running a business includes bookkeeping, taxes, payrolls, accounts receivables and payables, marketing, signing contracts, making deals and operating in accordance with all government laws and regulations.
All these not to overwhelm you but to give you a reality check and to walk you through the process. A book to read slowly over time and reference whenever you need clarifications as you go along your entrepreneurial journey.
Café Construct, as always, wishes you the very best in your journey as a Kitchens and Bathrooms Contractor.
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