Home – New Forums Starting your journey Do I need a business coach or a shrink?

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  • #987560
    Greg_M
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    As the title says …

    I’ve been reading with interest posts by various business coaches and the like, and wondering if there may be some benefit in pursuing same by an old guy looking to create a new business out of an old one?

    After mucking about for a year, and realising no one gives 60 year olds a job outside their proven area of expertise … I’m revisiting what I do best (and most profitably).

    My old business model was providing estimating and contract administration services to commercial building subcontractors. Kind of fell into it because of my construction experience.

    As a business model it sucked. Plenty of demand, even profitable, but in reality, a freelance job. So about a year ago I wound it down (apart from simplified services to a couple of good clients to keep me in pocket money).

    The initial plan was to convert some of the processes involved into an app … long story short, too bigger deal to develop alone, so I went looking … found some interested venture partners who educated me in best practise (prove it can make money), and how to go about it.

    As a result of that advice I’ve got off my bum and made a start, and have another cunning plan … but, unlike some plans I’ve had and executed previously I wouldn’t mind some expert input.

    I know my market and the players, I have the skills … just need to see the wood from the trees.

    Initially [email protected] for anyone interested.

    Long post sorry bout that.

    Cheers Greg

    #1163329
    Sporty Dave
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    Hi Greg,

    When you say “Administrative”, do you mean that you are offering a virtual Office Assistent Service? Are you offering to do the paperwork?

    It would be good to find out more about what service you want to deliver to your target clients.

    #1163330
    Greg_M
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    More info … the previous business (greatly simplified) was a kind of virtual assistant, measuring quantities off digital construction drawings, formatting spreadsheets and rating (adding $), submitting tenders, following up and going into battle on variations and contract issues when a job was won. Typical contract value to my clients (part of larger project) was 50K to a million $.

    Fine, if you’re young and hungry and want to keep doing it, I didn’t … from pricing to final sign off (release of retentions etc) each project can be on the books for well over a year, so you’re pretty much on call for that time (building workers start ringing at 6.00 am, project managers are still ringing at 8.00 pm) for every project. Very boring.

    None of the above was easily duplicatable, throw in crappy cash-flow and you have a poor business model IMO.

    But, there’s no denying the demand for the skills needed (my phones still ringing). So this time around I’m trying to extract the bits I can control better (read, get a life), set up something that can be duplicated (grow) and possibly saleable later.

    The one piece of the food chain that stands out (to me) is the digital take offs (quantity measurement), these are the starting point for everything else that follows in the tendering process and the one thing most clients can not do themselves (not efficiently anyway) … this part of the process is also the most finite and simplest to contain. Accordingly, this is all that I now do for existing clients.

    The new business (if I can get it right) is to expand on this service and value add in a variety of ways, primarily via semi automated web services (at this point my potential venture partners are keen).

    Anyone with a construction background reading this may think “that’s what a Quantity Surveyor does”, yes they do … but they are very expensive, usually too slow to respond, live in the dark ages when it comes to web services, and they focus on principal contractors not subbies and small clients.

    Additionally, an offshoot of the proposed web services is the generation of meta data that I believe has saleable value (not marketing lists), but is beyond my tech ability.

    Sometimes working alone (and in the scrub) there’s no place to bounce ideas and find the weak links in a cunning plan, hence the “coach or shrink” question.

    Damn long post, hope it clarifies what I’m on about.

    Cheers

    #1163331
    Sporty Dave
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    Thanks for the detail, Estimate.

    Sounds like you have pulled the idea apart and found the niche that has the potential. That in itself is a huge step. Niche business tends to do well online.

    Those that try and be all things to all men in business usually get lost in the middle.

    Keep breaking it down and let us know when you have something up on the web.

    All the best with your idea.

    #1163332
    Greg_M
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    Sporty Dave, post: 188938 wrote:
    Those that try and be all things to all men in business usually get lost in the middle.

    Too true, and I’ve been guilty of this in the past … hopefully I’ve learned the lesson.

    Web stuff is well underway, but not really ready for general public consumption (it is live on a test server, so it can be shared for critique).

    Thanks for your interest.

    #1163333
    Sporty Dave
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    estim8, post: 188941 wrote:
    Too true, and I’ve been guilty of this in the past … hopefully I’ve learned the lesson.

    Web stuff is well underway, but not really ready for general public consumption (it is live on a test server, so it can be shared for critique).

    Thanks for your interest.

    I would be happy to take a look at it. Send me the link via my member page if you feel inclined

    #1163334
    LucasArthur
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    ***********DISCLAIMER!!! Have not read your post, only the heading!
    Howdy Greg

    If you are in the flyingsolo community and work alone or nearly alone, you definitely need a SHRINK! LOL..

    That being said, will go back and ready your post to see if i can actually be helpful in any way! :p

    Jason

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
    #1163335
    MissSassy
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    Hi Greg

    Lucky for you I am a Business Coach and Qualified Counsellor – I will email you shortly.

    :)

    #1163336
    Greg_M
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    Sporty Dave, post: 188947 wrote:
    I would be happy to take a look at it. Send me the link via my member page if you feel inclined

    Message sent … not sure if it worked.

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