With great timing, solid business skills, entrepreneurial drive, and a little luck, some founders build thriving businesses without creating even an informal business plan.Does a business plan make startup success inevitable? But great planning often means the difference between success and failure.
Crabtree says finding out what permits you need should be part of the business plan.“But you should wait until the company entity is formed before getting the permits so you can get the permits in the name of the entity,” Crabtree says.
He says it might be best for startups new to the industry to hire a service that can do the research to find out which permits you need for the work you plan on doing. Accidents happen on jobsites so you want to be protected.
“Then establish a process before you start hiring to make sure you are hiring people eligible to be employed in the U. This is not complicated but it does require you to dot your Is and cross your ts. “You don’t want to be hiring over the phone or through an email,” he says.
Third, make sure your employees are properly classified.
Maybe you think you don't need a template for writing a business plan.
After all, some entrepreneurs succeed without writing a business plan.“Though the President and Congress have yet to act, infrastructure is on the radar,” Crabtree says.“I don’t think people are starting construction businesses in anticipation of work coming down the pike, but there are more businesses starting up because of shovel ready work on the ground.“Look at your costs and determine how much capital you’re going to need because construction is not like selling cupcakes where you get paid when you sell a cupcake.You have to plan for and build up a little bit of money because even if you’re lucky enough to get a job right away it’s going to be 30 days or more from completing that job before you get any money.”Form your entity.The State of Swyft Industry Report uses proprietary data from Swyft Filings, an incorporation and document filing service, as well as public information to provide an overview of business trends by looking at the number of newly-created businesses by industry type.Travis Crabtree, Swyft president, says there are three primary reasons for the boom in start-up construction companies.For more than 100 years, Deluxe Corporation has sought to create the tools that help shape our economy.Since 1915, Deluxe has recognized the vital role that small business plays in our communities, from job creation to business development.“Brush up on what the term ‘indemnity’ means, especially for the little guys,” Crabtree says.“Small contractors working on a big guy’s job can find themselves liable for anything that happens there.”Learn your labor issues.“First, learn I-9 compliance,” Crabtree says.