This could be your best year yet

This is not the year to operate as normal, rather it’s the year to propel you into the most profitable year of your business life.

Dahlsens asked Harry Pontikis, Director of Chocolate Money, for his advice to builders on how you can take advantage of this year’s construction boom.

Last year was like no other. Our economies were sent into hibernation and our freedoms suspended as a result of a pandemic that has taken millions of lives and continues to spread around the world.

Our federal and state governments supported Australians by providing billions of dollars in subsidies, grants, stimulus packages, major infrastructure projects, payouts and other financial support designed to keep us safe and our economy ticking along until a vaccine is rolled out.

This means billions of dollars in government stimulus is going into property purchases, renovations and construction. Hundreds of millions of dollars will be available through investors looking for better returns than the measly ones offered by banks, and the lending policies will be significantly relaxed to allow more people to borrow money for property purchases and construction.

This year is the year many people will have the opportunity to make their fortunes.

Anyone in the building industry should be reviewing the following areas immediately:

  • Clarity as to their business objectives, targets and strategy
  • Ability to operationalise and pivot their business to focus only on the most profitable clients
  • Ensure they are the builder of choice for their chosen target market
  • The recruitment, training and management of their staff, trades, subbies
  • Involvement with only the most reliable and reputable suppliers, advisors and associates
  • Personal and professional access to the cheapest and most appropriate source of funds
  • A connection for their clients to also have access to funds to ensure uninterrupted building of their homes and projects and security of payment for the builders and trades

With so much money and opportunity, and a level playing field for everyone in the building industry due to unprecedented disruption to standard methods of operation for Australia and the world, this should be the year you
make calculated decisions supported by common sense and management principles.

Harry Pontikis is Director of Chocolate Money, the finance broker of choice for the building industry since 2003 (Australian Credit License – 387277). This article is solely the opinion of the writer and does not constitute financial, legal or other advice.

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