Today's Top TipOnline business plan scams are alive and doing very well. There's even a new wrinkle: the "crowd funding". Trust me, no one makes money but the promoters in this scheme.
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You are out in the trenches. You know how hard it is to get funding for any project. Even having a contract in hand does not guarantee funding.
So what's the deal?
A lot of it has to do with just how stingy banks are these days. (Real stingy.) Everybody is having trouble getting funding of any kind.
One strong key is the follow in the shadow of your primary contractor. Use that company's reputation -- and credit -- as a bridge to your own funding. In truth, if that company does NOT have stellar credit, what guarantee is there that you will be paid anyway? So get a copy of that company's credit profile and attach it to your business plan.
The same holds true for the other company you keep. Who are the other sub-contractors? If they are reputable businesses, strong in the community, use their names too. Placing your company in the midst of success can only help it.
Remember: Success breeds success. Once you start down the slippery slope of failure, it will become increasingly difficult to get funding, even with an outstanding construction business plan.
There are hundreds of different aspects to the construction industry, businesses that will benefit from the Construction Business Plan, businesses like:
NOTE: If yours is a business or company that employs plateau financing, the financials presented here will likely not be sufficiently sophisticated for your use. You may, however, use them to draft numbers to present to your accountant. Sub-contractors of all kinds will benefit tremendously from the Construction Business Plan workbook and template.
Your construction business plan reflects your unique location and style. Odds are that your company is a sub contractor in the industry, perhaps looking for SBA funding. If so, you are in the right place.
Here are three major components to to help you put together a strong business plan:
| Your workbook.
|Your business plan template|
More than most business plans, yours will benefit from exhibits showing your co-contractors, as noted above. Be sure to put those in, even though the template doesn't specifically ask for it.
Too bad all the people who know how to run the
country are busy driving taxicabs and cutting hair.
GEORGE BURNS of "George Burns and Gracie Allen"
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