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REED - Residential Energy Efficient Design Services

Class #1 – The Business Model

In ten sentences or less, write down your business model.

 I'm a consultant and training builder and instructor for Building Performance and HVAC for my new company called REED. I will work with any company or individual who wants to learn and grow. My experience comes from being in the HVAC business for over 30 years. I have learned so much more over the past 10 years and want to share it with others. My desire to keep learning more and more will help me as well as help the company grow. I have connections nationwide with the industry, training centers and companies that perform this type of work and I will reach out to all of the through online as well as mail. I have a training company called Minnick University that will provide the training part.  

 

List the assets you have or will acquire

I will acquire an office space, and a website,

I have training space and all items need for the training

 

List the human resources you will contribute or hire –

  • Marketing Company to handle website design as well as all marketing needs (I have one ready to started Feb 1, 2014),
  • Virtual inside sales team (searching for one now).
  • Virtual assistant (searching for one now).
  • Hiring outside employee to conduct training and consulting (searching now)
  • Hiring inside employee to build  training and consulting agendas, set up class and any other admin work (searching now)
  •  

 

Describe who your customer is and what the customer gets from doing business from you

Consulting - My customer is anyone who wants to understand how to operate a business and work on the business and not in the business

Training - My customer is anyone who wants to understand how a building is a system and the building science behind it. Who wants to know how the HVAC system needs to work with the building as a part of the building system

 

And finally, outline what part of this is hard, which part is unique, and how you're going to repeat it again and again. 

  • Hard part – Making sure I schedule the time to build this company, Also finding the customers that want what I offer and are willing to take the time
  • Unique – As I have lived through the struggles and battles as well seen what it takes and that this is needed to have a well runned business as well as a well  operating building that will perform
  • Repeatable – Having manuals and systems in place 

Class #2 – Freelancer vs. Entrepreneurship

If you're an entrepreneur, write down how you will:

  • Relentlessly hire people to delegate work to; I will have some work done through freelancers, which I have done through using Elance. Com which has been a Huge help. I am looking to bring 1 in house admin. And 1 trainer/auditor. I will spread the word through my friends & colleagues, as well as social media like Facebook & LinkedIn.
  • Give yourself a promotion so you are constantly doing work you're unable to hire anyone else to do – I will be able to do this once I have these 2 people on board and have pricing structured correctly to pay my staff and myself well
  • Build an organization that has the cash flow to permit you to do those two things... Focus marketing to the right customer base.  Having process and procedures (systems) in place as well as have pricing structured correctly 

Class #3 – Funding

Fund your business

Create a page or more that answers the following questions as completely as you can:

  • Do you need money for this business? No
  • Does more money increase the chances you will reach positive cash flow? Profitability? - No
  • What are the assets the money will go to pay for? Website, Staff
  • How long before the money invested starts turning into money returned? - 6 months
  • Do you hope to sell this company? Yes
  • When? 10 years
  • For how much? 10 Million
  • What is the gross margin of what you'll be selling? 55%
  • How long will it take you to reach scale? 3 years
  • Given all this, and what you learned in the video, what sort of funding are you seeking? If I do seek any funding, I would look at Royalties
  • Why would this investor choose your offering over all the others available? Strong business model

Class #4 – Hiring

Commit to a hiring plan

If we can agree that a key part of your business is going to be your people and what they contribute, can we also agree that some hires are better than others? Yes

In this part of the 7-part plan, you're going to commit (not just describe, but commit) to what your human resources look like.

  • Who are the first employees you need? Sales/Trainer
  • Where will you find them? Networking, Associations
  • Why would they join you? I will create an environment that attracts the right people. First I need to figure out what this will be and what it will take to attract these types of employees. What kind of commotion can I stir up
  • How will you tell the good ones apart from the convenient ones? Are smarter than me in doing the projects I need done
  • What's your funnel? I do not have none at this time
  • After hiring people, how will you evaluate them? Once they have started, we will go over timeline for the company & their goals. Go over company set metrics for the position that need to be met weekly, monthly and yearly
  • How long after starting will you give people a formal review? Monthly Performance review
  • What's your approach for talking about the uncomfortable? I let them know that this will be an uncomfortable conversation before I talk about it.
  • Are you asking people to do work that's been done before, or to explore the edges of a new universe? I am looking for Both

Class #5 – Naming

Naming

Create a name (and live with it) – I have done this exercise and wow, very eye opening and tuff to do. Here is what I came up with “HeSpire”

    • How I came up with it was that I love to inspire others as well help them get to where they want to go. My business will be consulting & education. So I came up with joining the 2 items I love to do Help & Inspire = “HeSpire”
    • I have already got the domain name
    • Thank you Seth for pushing us along on this jounrney 

Class #6 – Partnerships

Delineate your approach to partners

  • Who else is helping you start this thing? My wife is support and I bounce ideas off of her
  • If they stopped working on the project in a month, would that be okay? Yes
  • How much are you actually hoping they will contribute, today, tomorrow and year from now? – her input is very helpful and I love bouncing ideas off of her, having her still want to hear about the business and wanting to be involved will be a amazing and helpful at the same time 

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