Learn The 5 core functions of Genius CBOs
Hello CBO…One of the most striking differences I see between my Genius CBO clients and other construction business owners is how they spend their time.
Genius CBOs spend at least 70 % of their time on 5 core functions, and that percentage climbs once they’ve learned the Building Certainty system. Yet, the average CBO spends less than 20% on those core functions. As a result, they struggle with inconsistency, instability, and stress that never lets up. pl
The 5 core functions of Genius CBOs are pretty straight forward. You can probably guess, but I won’t make you. Here they are:
Strategic Planning
It’s hard to accomplish anything without a strategic plan. Your plan is the blueprint for how to grow the business. You wouldn’t try to build a building without a plan, would you? Heck, I wouldn’t even throw a Super Bowl party without one! As a CBO you need to look at all the things your business could do and narrow it down to the things it is actually good at doing. The plan drives how you should spend your time, human capital, and money.
Rainmaking
There’s a lot of truth in the old saying that people do business with people they know, like and trust. That’s why your excuses for avoiding selling don’t matter.
It doesn’t matter if you are an introvert.
It doesn’t matter if you hate selling.
It doesn’t matter if you hired a business development rep.
It doesn’t matter if [INSERT ALL YOUR EXCUSES HERE]
Nobody can drive business for your company better than you can.
You know every part of your business better than anyone. You know what stretch goals you can reach. You know your sweet spot and your limitations. That’s why you need to be chief rainmaker and make it an ongoing top priority. With discipline and a system, you can do that and still have time to take care of the other core functions. Otherwise, your business development efforts will take over your schedule and leave you scrambling to handle the other critical tasks.
Relationship Building
CBOs rely on a vast array of relationships to operate their businesses—customers, subcontractors, employees, regulators, inspectors, bankers/investors, suppliers, and many more. Weakness in any of these relationships can drive a company off track. And, your relationships have so much value that you really can’t afford to delegate them to other people. That’s why relationship building is one of your core functions. Here again, a system and a disciplined approach will keep your relationships healthy. If you get this wrong, it will become one of those things you never get around to, and you’ll lose your edge.
Reputation Management
Reputation has two major components:
Integrity: The promises you make and the stands you take. You set and enforce the standards for how your business operates, how you resolve conflict, and how you execute your obligations.
Standing: Your visibility and perception in the broader community in which your business operates. To increase your standing you need to show up. That means participating in industry events and association meetings. It means publicizing your successes, and it also means giving back to the community through service or charitable contribution
Average CBOs only think about the integrity side if they think about it at all, and usually only when something goes wrong and they have to act to protect or repair it. Standing is just as important as integrity and is a long term in your company’s future economic value. It’s intertwined with rainmaking and relationship building, so that’s even more reason for you to have a plan, system and practice around reputation management.
Mentoring
For you to have the time to do your core functions, you need a team of people who think like you think and buy into your values to do their part to execute on your vision. It starts with picking the right people and setting clear expectations. But, in the long run, the stronger your mentoring relationship with your key team members the more value they provide and the more value your company acquires.
Here’s the thing
Those 5 core functions of a CBO, they are pretty obvious, right?
Look, If you know a way to build a business without doing these things I’d like to learn from you. But, If you are not spending at least 50% (and ideally 80%) of your time on these 5 core functions, then maybe you should learn from me.
Ask yourself if it’s worth a half hour of your time to talk about how you can shift from whatever you are doing to what you should be doing.
There’s one way to find out!
Book in for an Exploratory Call with me.
You and me.
One on One.
30 Minutes.
Working on Your Business.
I’ll walk you through how to get out of the middle of your business take your place at the head of your business. We’ll come up with at least one action item you can take right away.
At the end of the call I will let you know how you can get more help if you need it.
Book Your Spot Here!