Thursday, February 02, 2006

January 2006

January Status
BI Group Mechanical Company Update:

We have been excitedly incorporating the new found attention gained by being selected as a 3M-program winner. The media attention has created a new buzz. On the office front we upgraded our phone systems, computer systems, and office furnishings. We are still working out the bugs on some of the systems, hence late nights. In addition we are expanding staff. We brought on a bookkeeper and admin. We are actively recruiting for an engineering technician to assist with back office and estimating functions. We secured a sizable credit line with a reputable bank and secured a bonding line for future projects. This will enable us to compete in the public market. As of 1/31/06 received our Unified Certification from NJ Transit, Port Authority, and the Department of Transportation and renewed our certifications with NJ Transit and the New York NJ Supplier Development Council.

Coaching and Mentoring Update:
True to the goal of 3M the Mentoring has proving to be a jewel. I have met with my coaches and their input has been priceless. 

My first mentoring session was held in our admin office in Irvington with both Lisa Marie and Stephanie on 1/23. It was a great session for me. They focused on understanding our business, the finance picture, the client base, our revenue goals, etc. In the end I believe we all walked away with a clear direction on our next steps. Stephanie and Lisa Marie developed a high-level matrix model based on client type, job size, duration, etc. that I will build on to target my client base. Using the tool I am now looking at the number and type of jobs I must secure to meet my annual revenue goals. This tool is a driver to push me to increase the number of estimates or quotes on the right jobs, in order to increase my chances of success. After our discussion, the following week I pushed and we brought in 9 Jobs to estimate in an 8 day time period. This was a record for us. But the increase in estimating is forcing me to identify the deficiencies and needs to our process. More work ahead in the area of process improvement. As for my coaches, we all left the meeting with clear deliverables for our next meeting and a projected meeting date. 

The meeting with my coach Dresdene followed one week later on 1/30. This was a scheduled conference call in which we reviewed the findings of the questionnaires completed previously. I was surprised by the accuracy of the data in describing my style and characteristics. Together we explored personal and business drivers, goals, as well as future exit strategies. It was a beneficial meeting and reinforced many concepts that I believe to be true. I look forward to our next steps and continued dialog.

Media Update: 

World Wind and Spontaneous is the best way to describe my experience since becoming a 3M Winner. On 12/2, the day after our achievement, I had the privilege of participating on Liz Hamburg’s WOR Radio program, which was co- anchored by her mom to talk about the program. This was followed up by an interview with the Bergen Record on 12/7 for their Small Business Section. The article was published on New Year Day. I received numerous congratulatory calls from complete strangers. In fact one of my top industrial clients Sr. VP, sent it to his team. We are now scheduled for our second lunch in early February. Also we have been giving the opportunity to quote their organization on 3 jobs as a call in.

Channing, his staff, MBooth and Associates, and the Open team have reached out to us and coordinated media exposure. American Express, the NY Post and Fortune Magazine interviewed me for future articles. I don't know if our piece in the any of those interviews will be published. I have to follow up; but it was a privilege to be interviewed and photographed. In the future, I would love to get some media coaching since there is always room for improvement.