Transcript Piecing It All Together - Welcome Knoxville Chamber

cost consultants | estimators | management consultants
“Solutions are our Specialty”
About Us
Tyler Construction Engineers, P.C. is a
licensed engineering firm in the state of TN.
We work primarily within the construction
industry to provide the most comprehensive
business resource for small business owners.
Our Focus:
 Construction Cost Control
 Cash Flow Management
 Management Consulting
Management Consulting
Professional Education
& Accreditation of Our Consultants
• Masters of Engineering Management
• Masters of Business Administration
• Bachelors of Civil Engineering
• Bachelors of Electrical Engineering
• Bachelors of Accounting
• Bachelors of Business Administration
Representative Professional
Affiliations
• Professional Engineer, Licensed by the State of TN
• Certified Public Accountant, Licensed by the State of TN
• Tax Professional, Licensed by the IRS
• American Society of Civil Engineers (ASCE)
• American Planning Association (APA)
• National Society of Professional Engineers (NSPE)
• Tennessee Road Builders Association (TRBA)
• National Association of Black Accountants (NABA
• Honor Member of Chi Epsilon National Civil Engineering
Our Consultant Team
 Curtis Webb - strategic marketing & competitive advantage
 Ericka Hayes, CPA – accounting & business development
 Marshall Tabb – accounting & organizational effectiveness
 Jay B Mercer – accounting & small business tax strategies
 Victor Tyler, P.E. – estimating, bidding & project delivery
Our Visiting Clients
 Monte Edwards, V. President , SRS, Inc., Gallatin
 Andre Gist, President, MIG Construction Services, LLC , Lexington
 Kimberly Danson, President, KIMBERLY, Inc., Sparta
 Brenda Booker, President, Booker Engineering, Inc., Franklin
 Cliff Steger, President, C D Steger Construction, Inc., Brentwood
 Kim Willis, President, Columbia Construction, Inc., Columbia
 Mary Forrester, President, Lynn Sanford Construction, LLC, Maryville
 Cliftena Carter, President, Carter Safety Consultants, Inc., Fayetteville
 Dee Davis, President, Panther Construction Co., Inc., Nashville
The fundamentals to business success!
Presentation Presented By:
cost consultants | estimators | management consultants
Sponsored By:
Knoxville
Chamber of Commerce
Executing Your Plan
Seek:
• Ways to increase contract opportunities
• The best combination of technical & financial
resources
• Opportunities to expand or diversity experience
• Opportunities to build performance history
• Access to once unavailable customers
• Ways to build stronger relationships with large and
small businesses
Small Businesses Won Record
$93.3 Billion in Federal Contracts
More Than Half of Federal Agencies Met 2008 Small Business Goal
In SBA’s Annual Contracting Scorecard
In addition, small disadvantaged businesses, women-owned
businesses and service-disabled veteran-owned businesses increased
their share of federal contracting dollars by at least $1 billion to $3
billion.
Small Business Goal Summary Report
2007
2007
2008
2008
$
%
$
Category
Goal
%
Small Businesses
23%
22%
$83.2 billion
21.50%
$93.2 billion
Small Disadvantaged
Businesses
5%
6.6%
$24.9 billion
6.76%
$29.3 billion
Women
5%
3.4%
$13 billion
3.40%
$14.7 billion
Service-disabled Vets
3%
1.01%
$3.8 billion
1.49%
$6.4 billion
HUBZone
3%
2.2%
$8.5 billion
2.34%
$10.1 billion
Things to Consider in Teaming /
Joint-Venture Arrangements
• Identify your firm’s strengths, weaknesses,
and future goals.
• Research your potential partner’s
a.financial condition
b.past performance
c. claim history
d.Reputation
e.Experience
f. current team relationships
• Consult your attorney / business consultant
Teaming Agreement
• Scope of work each member will perform on the contract
• Payment terms for each member of the teaming
agreement
• Scope of the relationship (i.e. joint-venture or prime-sub)
• Define the handling, transfer and protection of each
member’s technology , process or inventions for
performance of contract
• Define the termination / expiration of the teaming
relationship
Contents of SBA 8(a)
Joint-Venture Agreements
• The purpose of the joint-venture
• Designation of the 8(a) firm as the managing venturer and project
manager of the 8(a) contract
• Statement that not less than 51% of the net profits earned by the
J-V will be distributed to the 8(a) participant firm(s)
• Establishment of a special bank account in the name of the J-V
(account must require the signature of all parties of the J-V)
• Itemizing all major equipment or facilities and or other resources
to be furnished by each party of the J-V
• Obligation of all parties to complete contract
Contents of SBA 8(a)
Joint-Venture Agreement (cont’d)
• Specify the responsibilities of the parties with regard to contract
performance, labor and negotiation of the 8(a) contract
• Designating that accounting and other administrative records
relating to J-V be kept at office of managing venturer
• Requirement that final original records be retained by the managing
J-V upon completion of 8(a) contract
• Requirement that quarterly financial statements be submitted to
SBA (including salaries of J-V principles)
• Requirement that project-end P&L statement be submitted to SBA
NOTE: SBA must approve a J-V agreement prior to the award of an
8(a) contract
Teaming / Joint-Venturing
…. Are you ready for it?
Is Your Business Successful?
If you were an outsider investor looking at
your business, would you invest in it?
Success Blockers
• Company wins business by selling low price
• Owner doesn’t understand business fundamentals
• No passion for your service or customers
• Not maximizing use of technology
• Not having a competitive advantage
• Trying to grow in a slow market place
• No leadership or strong management team
• Not enough money and too much debt
• Owner controls everything
• Owner (key managers) don’t change!
Successful Business Owners
Share 3 Characteristics:
• They know what they Want.
• They have a written Plan to get what they want.
• They always make Progress toward what they want.
Successful business owners
create processes that are…
• Predictable
• Measurable
• Repeatable
Market Strategy
What is the best way to Attract & Persuade?
Marketing
Strategy
Define Your
Competitive
Advantage
Create your
Value
Proposition
Define
Your
Niche
Identify Your
Market
Produce
Your Sells
Pitch
….In Business to Solve Problems
• Project
The key to business success
is turning customer problems
into your profit.
• People
• Product(s)
• Price
• Production
• Profit
Strategy to Improve
Profitability and Performance
Perform a Bid / No-Bid Analysis
STRESS TEST
• i.e., risk assessment
Bid / No-Bid Decision
• Have you read the RFP
• Can you set a realistic budget &
schedule for project
Stress Test Questions
• Financial capacity & cash flow
• Evaluation staff & experience
• Current systems & controls in place
• Evaluation of Team Members
• RFP new market / region/ service?
• Review contract language &
requirements (fees, insurance, liability)
Answer to the Stress Test Questions
Knowing Your Company Culture
 Business Strategy
 Financial & Budget
 Business Processes (Org Chart)
 Information Technology
 Marketing
 Sales
 Training
 Company Policies





Procedures
Customer Service
Work / Life Balance
Discipline
Attitudes
Risk
Piecing It All Together
Re-evaluate Your Plan
Seek:
• Ways to increase contract opportunities
• The best combination of technical & financial
resources
• Opportunities to expand or diversity experience
• Opportunities to build performance history
• Access to once unavailable customers
• Ways to build stronger relationships with large and
small businesses
Questions?
cost consultants | estimators | management consultants
Tel. 615.469.5396 Fax 615.469.7054
www.tyler-engineers.com
[email protected]