Wednesday, June 07, 2006

May Status: BI Group Mechanical Company Update:

"Things may come to those who wait, but only the things left by those who hustle." Abraham Lincoln

Our staff is growing. This month we hired three employees, signed a union agreement for craftmens and began training our new staff. We have been busy bidding on a multiple projects and setting up for the new jobs we recently were awarded. Overall the synergy has been positive, but very demanding. The biggest challenge this month was negotiating and selecting the best union to align with. After much work we finally identified a local that met the mechanical maintenance needs for all types of constructions sites.

We have develop a new list of strong potential contacts and are getting more familiar with our competitors through our suppliers. This has proved to be a valuable source of infomation and allows us to keep the pipeline of potential open, which means new opportunities. Thus far we have a chance to make a positive impression and align with a large Construction Management firm. They assured us that they have numerous projects that fit our criteria. If this relationship works out it could be beneficial in the long run.

Our firm is at the final stages of implementing a scholarship program with the New Jersey Institute of Technology. This program will enable us to work with engineering students in their Jr. and Sr. years thus providing them real world experience which should aid them in their future job search and allow us to keep our cost down as they support our internal processes.

Coaching and Mentoring Update:

I completed the book Billionaire in Training. Participated in a conference call with my coaches. During our meeting we focused on finances, cashflow, and our backend IT infrastructure challenges. Since March was a slow month we fell slightly behind, but we are continuing to look for work, keep our cost under control, and catch up. Fortunately for us, the last job we won will put us back on track.

Media Update: No additions from last month.