1) my name is Zach Turner and I am going to start up a masonry company that builds high rises and bigger buildings across the state of Florida. I am very good at communicating with people, numbers and formulas, planning, and running a team. My business will play a huge role in my life because I already have experience inside the field.
- Based on the feed back I received, nothing really changes in what kind of person I am. All my feed back was on the competition that is related to my business. 2) I am offering a lot of different products to a lot of different customers. My first customers are the owners of the buildings that will hire me to do the project. Since I am specializing in concrete and block work, I will only be in charge of that type of work. I have to make sure I do my work in a presentable fashion and stay on schedule so the general contractor will hire me again. Other customers could include company's that I sub my work out to or people that buy products from me.
- When it comes to offering products, I would make a few changes when it comes to my first answer. My products aren't really in affect until the job is actually complete. So something that goes along with the product line is the relationship I make with other general contractors. I need to have business cards ready at all times and attend meetings across the state to meet all the different contractors. 3) I am offering work that is sellable to the owner and work that will be completed on time according to a contract that is given out by the general contractor. All my customers will have a lot in common because they are all related to my field of work. My customers will come from all over the state of Florida and will change from job to job. Starting off, I will try to win one job and hire people to complete the projects. So at first, I will only have one customer then down the road, my customers will expand to many different people.
- when it comes to the customer aspect of the business, this quality is what is going to keep this business going. The relationships I can make with different general contractors will be key in making my company profitable. Winning a job will be irrelevant unless the relationship is there before hand. So I need to be every where these general contractors are to get my foot in the water. 4) my customers will actually pay me money because I will do my work so that the general contractors can sell my work to the owner of the buildings. In keeping good relationships with different general contractors, I can expand my business at a high rate. So it is crucial for me to do my work so it is presentable to all my customers.
- payment is something that is very key in the business I want to get into. Sometimes these general contractors wait till the last minute to actually pay you for the amount of work you complete. It is vital that I keep the payments in line. This will require me to hire an accountant or booker to keep records of payments that I will be receiving.
5) what sets me apart from other companies in my field is first the advantage I have in building relationships with
different people. In my business, it is very crucial that you create relationships so you can get business down the road. Another thing that puts me past other companies is that type of work I preform and doing it on time. It is also essential in this type of business to stay on schedule. By my company being known for completing the job right and on time will bring me business for a long time.
- this is where all my feedback came into play. All the feedback I got was stating that the only thing I should be worried about is the amount of competition that is in the trait. With any business that you open, there is going to be some type of competition with in the line of work. As a business owner, it is your Jon to set your business apart from the others. I plan to set my business apart from the rest by building strong relationships and doing the work as the contract states. If I do both of these things, I will eventually rise above the competition.
I think all these ideas do fit together in some sort. Starting up a business takes a lot of thought and effort and these aspects are all things you need to need to think about before starting up your business. In any field that you in, the customers have to come first and that is what I got from doing this napkin exercise. Another I got from this exercise is be confident in the business you are starting up and know customers will buy your product.
Five points that I came up with from the feed back I received was:
- make my business be a step higher than the competition
- make sure the customer always comes first
- make sure I hire an accountant to keep track of payments
- be aware of competition when I first start up the business
- complete all work on time as scheduled to rise above other competitors
I put the feed back in this napkin by being aware that the competition is very tough in this business and that I really need to be aware of what I am stepping into. The masonry business is filled with different competitiors and I need to find a way to rise above the competition. So I found ways to make my business stand out from other business owners.
Very thorough analysis Zach!
ReplyDeleteYou seem to be quite knowledgeable in the field and have a steady grip on the business qualities that will set yourself apart from your competitors. I would recommend also surveying your customers after you finish business with them, so as to record your progress and brag about your well satisfactory statistics to the publics!
Keep on rocking!
- Angela
Hi Zach,
ReplyDeleteI don't know much about this industry but it seems like you have a very solid idea and knowledge of the business. I think that if competition is the biggest threat, then maintaining a competitive advantage/focusing on your company's strengths would be the best way for you to find success. My idea napkin was very different, however if you would like to check it out, here is the link- http://daniellesteinent3003.blogspot.com/2016/03/idea-napkin-no-2.html
Hi Zach,
ReplyDeleteI don't know much about masonry but you seem very well versed in the subject and the perfect individual to undertake this business venture. It seems that you are able to very successfully analyze the feedback provided and incorporate it into your business plan going forward. I think you have a really good idea here and believe you will be successful going forward. Check out my blog here! http://ethan2you.blogspot.com/2016/03/idea-napkin-no-2.html
Hey Zach,
ReplyDeleteFreaking awesome job on this blog post. You obviously already have a knowledgeable background in this field of work, so I see that this could be an idea more easily put into action. I think your five points of feedback are crucial to keeping your business IN business, but I would go a step further to add a sixth crucial point; building relationships with you customers. If you can build better relationships with these folks you can ensure that business stays steady. How can you create more personal relationships with your customers? Make these guys your friends!
Overall, keep kicking butt!
- Angela