1.
Gain the experience necessary to properly manage a project and a business
a. Minimum
5 years working for another contractor as a project manager
b. Take
new business startup seminars as need to supplement experience
2.
Gain the startup capital necessary to start the company
a.
Develop cash flow projection for company’s initial needs
b.
Develop company preliminary budget based on cash flow projections
c.
Determine amount of startup capital needed based on budget
d.
Begin setting aside capital needed (percentage of salary, investment
income)
1.
Establish business connections
a.
Decide where company will be located
b.
Study area characteristics
1.
Line up good bonding company, accountant, lawyer, banker
2.
Size, quality, and types of typical projects built
c.
Join civic clubs or other organizations good for business contacts
d.
Make your name known in the community
2.
Start the business
a.
Business license, hire accountant, lawyer, bonding company
b.
Setup bank accounts, bonding capacity, etc…
c.
Open up an office, hire office staff, estimator, line up other employees
d.
Establish accounts with suppliers
e.
Begin bidding on projects