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  • #986321
    Balcombe Projects
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    • Total posts: 3
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    Hi all,

    I am 27yrs old and I have been dreaming of starting my own building business for a many years now. I am well aware of the difficulties involved in starting a business in this industry but now believe the timing is right for me to take the plunge.

    I have 5yrs + experience as a residential construction supervisor plus experience as a trade, I also have a business/finance degree, and Cert IV in Building and Construction. For the past few months I have been preparing my business plan and DB-U application. I have also bought a property 18months ago to renovate and sell hoping to make a profit to help finance some my business, and use as a marketing tool. It is almost on the market and we are expecting to make a handy profit.

    My goals for this year is to achieve accreditation, complete my business start-up, and purchase a property to build on. The first build is likely to be a spec home, where I build and sell at completion. There is plenty of risk in this method but it will allow me to showcase my credentials and hopefully obtain further work. I believe it will be difficult to obtain a client home without any homes built under the business but will be trying my best to obtain one.

    As I plan and head toward my end of year goal I am likely to come up against many challenges and I hope to find some advice and support while sharing my experiences with you all on this.

    Please feel free to ask questions, provide advice or critique my plans, as it’s all more than welcome and much needed.

    Thanks

    Matt

    #1157256
    AlexWebley
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    • Total posts: 8
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    Hello Matt,

    I wish you all the best in your new venture. Your post has given me some confidence in you, as I am sure it will have done to others. In other words, you are coming across well.

    You ask for advice. I will limit mine to people stuff. With regard to getting clients; I suggest making sure that you connect emotionally with them. Make them feel that they matter, that their concerns are important. So many people in business do not do this, or skim over the surface and think they have. Building a strong connection in this way can set you apart from your competition.

    An example of what I mean can include how we see clients in our own minds. Do we see them as valued people, or as any number of less than salutary concepts? How we see clients on our ‘inside’ will affect our level of connection. Of course, there are clients we do not want and should avoid, however worthwhile clients will appreciate the difference in you and seek you out. I speak from personal experience – I have even had clients chase me to do stuff in which I only had moderate expertise, because they valued qualities they both sensed and saw in me.

    Investing time studying how people tick will be time well spent.

    #1157257
    Anonymous
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    • Total posts: 11,464
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    G’day Matt,

    It’s great to have you on board, and it sounds like exciting times for you.

    We’ve had some really interesting chats about the start up phase in the construction industry over the years, so have a browse through some old posts and you might come across some handy tidbits.

    This thread in particular could be interesting reading for you: http://www.flyingsolo.com.au/forums/starting-business/24473-starting-residential-building-company.html

    Good luck with it all, and thanks for joining in,
    Jayne

    #1157258
    MissSassy
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    • Total posts: 1,255
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    Hi Matt and welcome to Flying Solo it is a great place to meet like minded people

    #1157259
    Osmond Mcleod
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    • Total posts: 134
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    Where are you based?

    #1157260
    Balcombe Projects
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    • Total posts: 3
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    PsycheWizard, post: 181338 wrote:
    Hello Matt,

    I wish you all the best in your new venture. Your post has given me some confidence in you, as I am sure it will have done to others. In other words, you are coming across well.

    You ask for advice. I will limit mine to people stuff. With regard to getting clients; I suggest making sure that you connect emotionally with them. Make them feel that they matter, that their concerns are important. So many people in business do not do this, or skim over the surface and think they have. Building a strong connection in this way can set you apart from your competition.

    An example of what I mean can include how we see clients in our own minds. Do we see them as valued people, or as any number of less than salutary concepts? How we see clients on our ‘inside’ will affect our level of connection. Of course, there are clients we do not want and should avoid, however worthwhile clients will appreciate the difference in you and seek you out. I speak from personal experience – I have even had clients chase me to do stuff in which I only had moderate expertise, because they valued qualities they both sensed and saw in me.

    Investing time studying how people tick will be time well spent.

    Thank you for the advice.

    I want to create a business that respects the client’s views, opinions and concerns. Although building a quality home, on time and on budget is extremely important, it is just as important to have the clients feel welcomed and valued during every process. It is often one of the largest investments clients make and there are so many emotions involved when building clients dreams and for this reason making the clients satisfied with the service they receive it will go a long way to gaining further work.

    #1157261
    Balcombe Projects
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    • Total posts: 3
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    Osmond Mcleod, post: 181455 wrote:
    Where are you based?

    Based on the Mornington Peninsula, South of Melbourne

    #1157262
    NathanBoxa
    Participant
    • Total posts: 34
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    Hi Balcombe Projects, im kinda in the same boat as you. How did you go with your application for building license. I would say that’s the biggest hurdle to starting a building a company.

    #1157263
    iWebDev
    Member
    • Total posts: 23
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    Hi Matt,

    Welcome to Flying Solo, starting a new business is always a very exciting time but has its challenges. I’m an ex builder and ran my own construction company for 5 years. I have now moved on and some how found my self in the IT industry.

    I was based in Brisbane so the building laws are probably a little different to melb. A few tips i could give you:
    – Make sure you have a good draftsman on staff.
    – Don’t over work your self (long hours can kill the dream)
    – Team up with a larger construction business and do sub contract work to keep the money coming in. This is also good if they are too busy to do the work they can pass it off to you.
    – Remember buying a block of land and building a home on it is a very big thing for a lot of people, you’re not just building a house you are building their home. Make it special for them, give them something to remember (in a good way) your clients are going to be your biggest asset to getting more clients.
    – Design up a few different plans to suit different block sizes, block slop, budgets, this will help when you do get a client in the do you have something for them to talk about and show.

    Feel free to contact me direct if you have any questions or need some help with anything [email protected].

    Thanks,
    Luke

    #1157264
    LuchiaBloomfield
    Member
    • Total posts: 117
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    Hi Matt,

    Your post has come across really well as a first impression – congratulations! You write really well and hopefully you can communicate the same values you have described in person.

    My advice is in a completely different area but I would absolutely recommend making you brand your company so that you can communicate your professionalism and trustworthiness immediately. I wrote an article for My Sassy Business about the importance of it, you can read it here – http://www.mysassybusiness.com/blog/the-importance-of-small-business-branding/

    Best of luck and keep us updated!

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