Entrepreneurial Blueprint: Navigating Success in Your New Construction Business

This course is offered in  1/2 day sessions via Zoom, on the following dates:

Dates to follow

COURSE OVERVIEW

Navigating a new construction business demands a blend of industry experience, unwavering commitment, foresight, continual learning, and determination. As an entrepreneur you’ll face many challenges: from fierce competition and navigating contract negotiations to meeting client expectations, maintaining cost controls, mitigating labor shortages, managing financial issues and ensuring successful project completions.

From shaping your business model to securing funding, assembling a competent team, and delivering high-quality projects, every stage is critical to ensuring your success. By walking through these crucial steps, this course ensures you will acquire the essential knowledge and tools to grow a profitable construction company.

The course is structured to provide entrepreneurs with the knowledge and skills necessary for effective teamwork with various stakeholders such as owners, lenders, estimators, project managers, accountants, and production staff. The goal is to facilitate efficient teamwork to achieve the best possible project results.

LEARNING OUTCOMES

  • Focus on productivity losses by implementing advanced training methods, technology upgrades, streamlined workflows and effective productivity metrics.
  • Improve employee retention by offering competitive compensation packages, fostering a supportive corporate structure, and providing growth opportunities within the company.
  • Implement rigorous cost controls, conduct frequent project cost and performance assessments, and utilize historical data for precise cost forecasting.
  • Forecast revenue to sufficiently cover overhead costs and achieve planned profits.
  • Guarantee the reliability of financial reports by accurately reflecting contract terms, recognizing earned revenue, accruing costs accurately, and analyzing variances.
  • Calculate vital financial ratios such as the current ratio, return on equity, and accounts receivable turnover to assess the financial strength and stability of the company.
  • Navigate cash flow fluctuations by optimizing cash surpluses and mitigating cash shortfalls.
  • Evaluate and enhance start-up processes, operational procedures, workforce dynamics, and financial strategies.

BENEFITS

  • Flexibility and Control: You will have the freedom to set your own schedule, make decisions about your company’s direction and implement your vision and strategies.
  • Growth Opportunities: The industry boasts far-reaching growth through 2030, allowing your company to scale up for larger projects, enter new markets, and offer additional services.
  • Financial Potential: As an entrepreneur, you have the potential to generate significant revenue from various successful ventures

WHO SHOULD ATTEND?

  • Entrepreneurs
  • All individuals who can drive project and company profitability

The course will be worth 4 Gold Seal Credits when approved by the Gold Seal Committee.

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About the Trainer

With over 35 years in senior financial roles, Wayne Newell has a rich history with companies across Canada, the US, and the Caribbean. He’s not just an accountant but a mentor who has guided businesses towards growth. Wayne shares his vast knowledge, techniques, and strategies that have transformed contracting companies. His seminars have reached over 3600 professionals, making him a seasoned voice in the industry. He was awarded his CMA designation in 1972.