What’s Your Builder Personality Type?
Are you a Growth Monster, Cash Cow, Grandad Developer or Lean Green Building Machine? Each has different motivations, rewards and risks. See more…
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Every builder’s journey takes in highs, lows, characters and stories. We heard loads of them in the research interviews we did with builders.
As you develop, you move through a series of changes that place different demands and needs on you and your business.
The builders we spoke to seemed to fit into one of four categories. Each category represents a personality type and you might recognise yourself in one of these ‘types’ below:
- Lean Green Building Machine
Having become registered in recently, this younger builder is still working onsite with the help of a couple of loyal employees/mates they used to work with.
This builder wants to run jobs while also looking for their next customer. They do almost everything themselves and are probably underquoting to ensure they land as many jobs as they can handle.
If you’re a lean green building machine, engaging a book keeper (to sort out your shoe box of receipts) and getting a steady stream of work are your top priorities.
- Key Opportunities: Finding your niche, looking beyond friends and family for projects and developing successful marketing channels
- Key Risks: Cashflow, lack of business experience, under-quoting
If you’re a Lean Green Building Machine, you’ve started an exciting journey. To reduce some of your most significant risks; (a) win work from architects (b) avoid pricing mistakes (c) win more work by helping clients meet budget with ProCalc.
Book a ProCalc Free Trial & Tutorial
2. Growth Monster
The builders operating at this stage can be highly variable in their approaches (and success). Typically, the builder floats across a few projects and has 2 – 5 trusted people they rely heavily upon.
The growth monster wants to grow their business and build their revenues. They want to scale by taking on more jobs, more employees, increasing their marketing creating bigger and better results.
However, growing without suitable systems in place can create disappointed clients, failed growth and broken dreams (for all). It can lead to total disaster.
Their number one priority should be to create processes and procedures to systemise their business to support successful scaling. Taking on a reputable coach such as Builders Business Blackbelt or Builders Coach will help them scale without the learning pains.
- Key Opportunities: Finding a business coach, re-investing surplus funds in your business systems, investing in yourself (training/mentoring), investing in technology.
- Key Risks: Growing without systems, spreading yourself too thin, no focus and under-quoting.
If you’re a Growth Monster, you’re in the most dangerous phase of your business journey. To reduce some of your most significant risks; (a) work smarter, not harder, (b) price jobs properly and (c) create lasting referral channels with ProCalc.
Book ProCalc Free Trial & Tutorial
3. Cash Cow
This builder has achieved growth through good business systems, project management software and have most likely had some coaching to develop their approach. They have 5-10 people they rely upon. Each has a defined role both on site and in the office.
The cash cow works hard to optimise their returns because they have serious financial goals for their retirement nest egg or their own future developments. They know optimising margins and reducing costs is the pathway. Ultimately, they’re trying to replace themselves to free up their time.
Cash Cow’s can optimise their profits by growing their brand and systemising their sales process.
- Key Opportunities: Cutting costs, doubling down on system development and niching to a specific market
- Key Risks: Project risks
If you’re a Cash Cow, congratulations! You’ve made it through the most dangerous phase. To optimise your journey from here (a) continue to reduce costs via systemisation (b) attract niche clients and (c) maintain lasting referral channels with ProCalc.
Book ProCalc Free Trial & Tutorial
4. Grandad Developer
This builder works within a small referral network and their own developments. They’re happy to keep their team small and are focussed on financial freedom and lifestyle.
They’re constantly on the hunt for new development opportunities. Their key risks are failed developments, poor feasibility/cashflow analysis and looking after their own health.
Do You Want to Progress Your Builder’s Journey Faster?
Check out the Builders Profits and Property Success Bootcamp. You’ll learn:
- Your unique road map for rapid profit and cash-flow optimisation.
- Cutting-edge tech tools to supercharge your productivity and profits.
- The benefits of tapping into the massive profit potential of “non-client work”.
- Different ways to structure and finance your developments, depending on the stage of your specific business.
- How to structure your business for maximum tax efficiency and speed of execution (the banks don’t want you to know this!).
- Proven strategies for automating your sales process and unleashing the profit potential for doing more of your own developments or “non-client work”.
- Marketing systems that have a steady stream of high-paying clients knocking down your door.
- Find out more
If you’re a Grandad Developer, enjoy the ride. If you’d like industry-based construction feasibility numbers, book a free ProCalc trial and tutorial.
You Might Also Like:
- Builders, Get Your Pricing Right Every-time – No More Under-Quoting
- Transform Your Building Business in 43 Mins (webinar)
- How (& Why) to Charge for First Client Meetings
- Take a Free Trial of ProCalc
- Stop All Free Client Meetings – Charge Upfront
- Want more tips like these? Attend the Webinar: Work Smarter, Not Harder
Richard Armstrong is a former registered builder who recently interviewed hundreds of experienced Australian builders to identify how they best manage clients, budgets and profitability.
