How to Solve the Biggest Challenges of Your Building, Construction or Supplier Business Suffers!

The Path to a Better Business Starts Here!

Do you wish you knew what the big, national contractors know about running a successful and more profitable company? Do you want your company to be more organized, efficient, and manageable? Are you ready to increase your capacity and grow your pipeline of projects?

If you’re in the building and construction industry or support or supply to this industry, you understand the challenges. Your ongoing success is reliant on a strong pipeline of clients and projects.

However, the ever-increasing list of demands and the abundance of choices mean there’s a lot of pressure on you and your team to meet these high expectations to win tenders and secure orders. Then you also have to coordinate with so many other contractors, suppliers, builders and workers on each project to complete it successfully. All of this creates many hurdles that your business needs to overcome.

We’ve helped thousands of building, construction and supply companies solve their most persistent problems, and we can help you too. No matter your business goals, no matter your frustrations, we have the process and the tools to help you build the business you’re dreaming of.

If you’d like to talk with a expert about what you want for YOUR business, take action today and schedule a FREE time to talk with us. Our process solves every business challenge by helping you build a solid foundation for your business systems.

Whether you struggle with stagnant sales, finding the right employees, or any of the other business challenges so many owners face, we can help. We’re here to help you reach your goals.

Live Long and Prosperously

Do Not Be a Business Also Ran! Solve Businesses Failure (and Avoid Challenges)

The US construction industry is one of the biggest industries worldwide, having an annual expense of over $1,293 billion. It contributes an essential percentage to the country’s GDP value, helping it expands and drives up the US economy. This has immediately resulted in the explosion of construction projects in the entire country, allowing construction companies and firms to gain speedy business growth. According to a Census Bureau report, since the start of 2021, US construction spending has reached a seasonal adjusted annual rate.

However, many issues and challenges started creeping up, hindering construction businesses from growing and expand. Most of these challenges are easier to overcome if contractors begin finding ways to remove inefficiencies internally and externally. So what’s the biggest challenge you face as a contractor on your construction projects?

For this blog, we’re outlining the answers that you have been looking for, particularly for the top most significant issues you often face alongside other construction professionals over the years.

Construction is like any other business: You need a good product or service, motivated employees, and a healthy client base to succeed. But finding success in the building industry is a lot tougher than most:

According to data from the Bureau of Labor Statistics, of the 69,296 private construction firms that started operation in 2001, 56% were still around three years later, 26.6% made it to year 10, and only 17.2% were still in operation 20 years later. That’s a failure rate of nearly 82.8%. Let that sink in for a bit.

According to data from the Bureau of Labor Statistics, construction companies that have been in business less than one year had an even higher failure rate of 36.8 percent.

Because of the interdependent nature of construction, construction companies have a higher failure rate than many other types of companies. According to U.S. Census data from 1989 to 2002, the average rate of failure in the U.S. construction industry is almost 14 percent, while the average rate of failure for all industries is under 12 percent.

According to Census Bureau data, over the last 10 years, construction businesses failed at nearly 1.5 times the rate of companies in other sectors.

Up to 96% of Construction Companies Fail Before Reaching 10 Years in Business. WHY? Will Yours Be One of Them?

You know exactly what I’m talking about if you own or operate a construction company. It is beyond difficult to build a successful construction business, and yet far easier to fail.

A lot of construction professionals mistakenly believe that profit is the key to success in the industry. As long as revenue exceeds expenses, the business is safe from financial ruin, right? Unfortunately, this is wrong — and this false belief drives many, many companies out of business.

Why do contractors and suppliers run such a high risk of bankruptcy? In almost all cases, construction companies fail for several reasons, though the most common problem is cash flow. See: https://www.failory.com/blog/startup-failure-rate

REASON 1. Cash flow concerns sink businesses

REASON 2. Slow payment woes cut across the industry

REASON 3. Poor credit & collection processes hampers finances

REASON 4. Economic recessions hit construction hard

REASON 5. Poor estimating & bidding dooms a business from the start

REASON 6. Inaccurate accounting is hard to overcome

REASON 7. Paper processes leave some businesses in the lurch

MORE REASONS FOR BUSINESS FAILURE YOU CAN ELIMINATE

1. Starting the business for the wrong reasons. Many companies don’t start out with a strategic business plan. The owner simply wants to be his or her own boss.

Sometimes a friend says, “Let’s start our own company and make a lot of money.” The problem is that nobody gets rich quick in the construction industry. There are only two entities that are in the business of making money: the Department of Treasury and counterfeiters. Construction companies are in the business of serving customers.

Starting a construction company should be based on a legitimate opportunity. Owners should also have a clear vision for what they want the company to be, along with a roadmap toward profitability. Having a strategic roadmap will also help new companies avoid another common cause of failure: trying to grow and diversify too quickly.

2. Poor company culture. Nobody wants to go to work in a war zone. When that’s the type of culture that exists, people put in the bare minimum.

This culture often leads to higher employee turnover, sloppy work, higher workman’s comp claims and financial losses. The unfortunate truth is that many construction companies do not have a great culture. Leadership must identify what employees want, what the company wants and how to get there. It takes commitment and time, but it can be done.

3. Poor hiring. For long-term success, companies must hire people with the desire and ability to grow with the company and help lead. Warm bodies aren’t enough.

This can be harder to do when hiring out of a union hall. But even in that circumstance, it’s probably better to pay any show-up costs and ask for a more qualified employee. That’s far less costly than carrying an employee who continues to do substandard work or has a bad attitude.

4. Poor financial systems. This is a big bullet point under the broader topic of capital and financial management. Many construction companies can’t track if they’re making or losing money until the very end of the year. Some companies even fail to bill for all of their work because they are so busy completing projects and doing estimates for new projects.

Good financial systems are a must so these types of things do not happen. Accounting software can help, but it won’t solve everything. A good accountant or in-house financial manager may be advisable – one who will provide detailed accounting at least every few months.

5. Inefficient operations. Inefficiency rarely happens in big, easily identifiable chunks. Inefficiency typically impacts that company in 10- or 20-minute increments. A good example is a seven-person crew standing around on a jobsite waiting for a truck to show up. Over the course of the year, this type of wasted time can add up to the point that all profitability is sacrificed.

6. Poor customer service. Some companies do not listen to their customers very well. Companies just focus on completing the work according to the contract. If they get paid, they assume all is good. But remember, construction companies are in the business of serving customers, and that includes good customer service.

7. Family-run corporations. These businesses have an even higher failure rate than the typical company. Family-run businesses have a unique set of challenges that generally hurt future generations more than the current generation. This is a complex issue with many facets to consider.

ELEVEN REASONS WHY YOU SHOULD DO THIS US?

[1]: Whatever Your Challenges, We’ll Help You Build the Systems to Solve Them and a Dedicated Mentor or Coach to Implement Them.

AVOID CONSTRUCTION BUSINESS CHALLENGES AND FAILURE With A Comprehensive System to Transform Your Business—One Step at a Time.

We’ve spent over 40 years helping small construction businesses like yours. Our proven process for developing systems in your business brings together a comprehensive curriculum and the personalized guidance of a construction coach to help you build a business you love leading and a life you love living.

Leadership

Free yourself from tactical work, create time to work on your business and learn to lead from your values.

Marketing

Discover your ideal customers, why they buy and what differentiates your business—so you can stand out from your competition.

Lead Generation

Connect with your ideal customers and help them see the value in choosing your business over the rest.

Customer Fulfillment

Design a customer experience that consistently delights and delivers on your Brand Promise.

Management

Attract the right team for your company culture and develop the systems they need to produce great results.

Finance

Understand and manage your financial resources so you can grow your business and reach your goals.

WIN

Whatever your challenges, we’ll help you build the systems to solve them. Whether your biggest challenge is finding good people, attracting new customers, maximizing cash flow, or preparing your business for sale, our business Coaching Program can help you get there. Learn how to create the business—and life—you want.

[2]: We Transform the Lives of Business Owners Everywhere

We Don’t Just Transform Businesses. We Change Their Lives

WE SOLVE CHALLENGES OR PREVENT FAILURE SIMPLY AND EASILY WITH EVERY TOOL YOU NEED TO TRANSFORM YOUR BUSINESS

With so many challenges and conflicts facing the construction industry, it is nearly impossible to overcome most of them on your own, most especially when your present system spins around using spreadsheets and manual tracking. Investing in advanced construction techs, you will undoubtedly find your efficiency going up.

WE HELP YOU PREVENT CHALLENGES AND FAILURE: By helping your business with contractual, contractual requirements and obligations, specific productivity problems, payment problems, cost overruns, project delays, labor shortages, monetary management, management, dispute resolution, or business failure concerns? We share unique resources that help you solve many major problems in construction.

We solve productivity problems, contractual, contractual requirements and obligations payment, cost overruns, project delays, labor shortages, monetary management, dispute resolution, or potential business failure.

[3]: We Transform Businesses—One Owner at a Time.

We’re passionate about helping owners create a business they love leading and a life they love living. And we bring together the best system solutions and an expert group of coaches to help you get there.

We’re Always Here When You Need Us.

Whatever Your Size We Can Help.

In our time getting to know and support business owners in the construction industry, we’ve learned that while you and your business are unique, your challenges and frustrations aren’t. This is for owners with companies grossing between $100K and $10M. We provide the mentoring, coaching, consulting and tools you need to develop a successful business that frees instead of consumes you.

[4]: YOU GET A FREE 5-180 MINUTE LIVE COACHING CALL TO HELP YOU SOLVE BUSINESS CHALLENGES OR FAILURE

Your success is our success. So from day one of your journey, our Coaching Experience Team will reach out at regular weekly intervals to make sure you’re getting what you need from us on your path to building a business that works.

Get One-Hour FREE virtual weekly coaching calls with defined agenda and specific list of items to help you, Simply tell us of your challenge and we will schedule a conference call to help you and your team. Calls cover areas like:

Business evaluation to define priority areas

Processes defined include:

Mission, Vision, Values, Administrative, Marketing, Operational, Service, Sales, Maintenance, Financial Management

Identify core business strengths and focus on improvement area

Team / people development plan, Business management coaching, Budget builder, Financial literacy training, Dashboards, Marketing strategy

Business management and documentation

Executable achievement plan, Accountability sessions with clear expectations and deliverables, And More!

[5]: YOU GET AN EXPERT COACH WHO WILL HELP YOU BUILD YOUR BUSINESS AT A REASONABLE RATE OR IT IS FREE

Reitenbach-Kissinger Institute Consulting is the premier provider of business, operations, management, technology, and marketing consulting services for construction companies in North America.

We are committed to helping our clients Build Better Construction Companies. Unlike other business consulting firms, we only work with construction companies and contractors. As experienced contractors and business owners, we understand how our clients think and operate, which is why they choose us to help solve their most important challenges.

By utilizing our comprehensive industry knowledge, real-world experience and team of dedicated professionals, we create innovative, customized solutions to help our clients get to the next level of performance and success.

AN EXPERT COACH

Michael Kissinger, founder, is confident his 10 years hands-on residential and commercial experience, construction management degree, law degree, and teaching of Construction Law at San Francisco State and Golden Gate University in Masters and Ph. D Programs for over 16 years qualifies him to help solve your challenges.

For example,

1. As a carpenter from Carpenter’s Union Local 22, he worked on many residential and commercial projects for companies like Swinerton, Page Construction and Riser Construction, etc.

2. He successfully served as a dispute resolution analyst for subcontractors like Charles Farrow, etc.

3. As an adjunct professor at San Francisco State University and Golden Gate University he solved problems for thousands of contractors and subcontractors.

4. He authored many articles for the Daily Pacific Builder and did keynote speaking at various Northern California Builders’ Exchanges.

[6]: YOU GET PROVEN AND REAL SOLUTIONS TO HELP YOU WIN

Your total market share is now less, while the number of competitors has risen. This leaves a shrinking pie that is smaller and more competitive. Here are nine tips to help you to work smarter and succeed in today’s economy. We help You Add:

1. New Profitable Markets Solutions

2. New Paying Customers Solutions

3. Reduce Risk Solutions

4. Greater Profit Centers Solutions

5. Reachable Overhead Targets Solutions

6. Proven Field Input Solutions

7. Good People Solutions

8. More Successful Bids Solutions

9. More Successful Networks Solutions

Do not expect things to get better without doing your part. The number of contractors in the U.S. has tripled over the last twenty to thirty years while the effective net construction volume of work has only grown slightly. Try one of these nine ideas or ask Michael how to do them.

[7]: YOU A GET FREE 5-180 MINUTE DISCOVERY SESSION

Request a 60 Minute FREE Discovery Coaching Session. We can effectively address and solve your challenges and provide a 100% Coaching Guarantee.

Hands-on Support, Detailed Guidance and Ongoing Accountability to Reach Your Business Goals. Over the past year, we’ve helped hundreds not if thousands of contracting businesses reach previously unheard of levels of success.

We’re happy to announce that we are once again accepting new enrollments to the program, which will bring in-depth, hands-on coaching for your businesses leadership team from one of our Business Success Coaches.

You’ll get personalized solutions and strategies based on an initial interview and overall assessment of your business, with an emphasis on accountability and follow-through to ensure all of your goals are met.

Our Coaching will be of excellent value to your business as it has been to thousands of others.

[8]: YOU GET A FREE BUSINESS ASSESSMENT TO HELP YOUR PREVENT or ELIMINATE CHALLENGES or FAILURE THAT HAS HELPED THOUSANDS OF BUSINESSES

In case you are thinking you do not need an assessment here are additional reasons for business failure.

42% of small businesses fail because there’s no market need for their services or products.

29% failed because they ran out of cash.

23% failed because they didn’t have the right team running the business.

19% were outcompeted.

18% failed because of pricing and cost issues.

17% failed because of a poor product offering.

17% failed because they lacked a business model.

14% failed because of poor marketing.

14% failed because they ignored their customers.

[9]: YOU GET HELP TO IDENTIFY POTENTIAL PROBLEMS

These are questions that have been developed from our work with some of America’s top construction businesses. These questions will help you reach your biggest goals personally and professionally…

What do you want from your life or business?
Why do you want it?
What is your biggest life or business challenge getting there?
What do you need to know?
Who do you need to work with to get there?
What is your life and business plan?
When do you want to get there?

ANSWER THESE ADDITION QUESTIONS

Do you have clearly defined life or business goals? Are they written down? Do you FEEL the benefits of reaching those goals?

2. Is your biggest challenge generating revenue? Building a team? Improving profits? All of the above?

3. Do you have a business system to follow? Do you have CURRICULUM for your team to follow?

3. Do you have a BUSINESS COACH?

4. Do you have a written Business Plan?

If I may, I would like to share how we can help you get where you need to be in life and your business. We help business owners grow to their full potential. Contact us and we will discuss possible solutions and put your business on a winning track.

Whether you are a solo operator, have a big team, or you’re looking for an opportunity, we’ve got you covered!

[10]: GET A 100% COACHING GUARANTEE

As Thomas Edison famously said, “I have not failed. I’ve just found 10,000 ways that won’t work.”

That said, failure should never be the end goal – and if you follow the steps listed in this guide, you should be in good shape to avoid failure.

If you believe in your construction business and services and reckon with all the potential pros and cons of your business, survival should be realistic for you and your team we can help you. If for any reason our work does not work in your business let us know, in regard to that segment, and we will not charge you.

So don’t be afraid to start your dream business – there are ways you can make it last if you let us help you.

Let’s Talk About Your Business.

Book Your RISK FREE – NO MONEY Live Performance Consultation Now!

Request Your FREE 5 Minute to 180-minute Coaching Session. Its the Next Step to Realizing Your Dream Business and Life.

Could you benefit from the advice of a construction business expert FREE? In our 60-minute call, you will get recommendations for immediate adjustments that will improve the performance and profitability of YOUR construction company. All our services come with a 100% guarantee.

Curious about what it’s like to work with an Proven Expert Construction Coach?

Our Coaching Program is for business owners and CEOs who want more—not just from their business, but from their life. This Coaching Program best serves those with annual revenues of $100K to $10M in the construction industry. Have us speak at your next event.

[11]: We’ll Speak at Your Next Event FREE.

Imagine bringing the Reitenbach-Kissinger Institute Perspective alive in a room full of your clients or coworkers through a captivating and interactive event. What if you could inspire your network and provide them with actionable next steps?

We can help you bring that vision to life.

Schedule a Call With Our Events Team

Here’s the Bottom Line You Should Consider the 11 Reasons Why Your Business Should Do this Coaching- It Is Totally Risk Free, Confidential and Guaranteed

Nothing speaks to the results of the Reitenbach-Kissinger Institute Coaching Programs better than the experiences of our incredible clients.

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Live Long and Prosperously.

Contact

Michael Kissinger

Text: 650-515-7545

Email: mjkkissinger@yahoo.com

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