Behind the Scenes of a Startup, Month 2

I launched a new business on January 1st, 2023. Here’s how the second month went.

I’m chronicling a new business startup, Trinity Builder Solutions, and I’d love for you to join me on the journey. (Click here to read from the beginning…) I’ll be providing monthly updates, and this is an update for month two. Want to receive these updates in your email? Click here to subscribe.

I have three kids.

Each time one was born, something struck me: the dichotomy between my pre-birth and post-birth feelings.

You see, leading up to the birth is fun, especially for the dad. There’s anticipation, excitement, sharing about it with others, all the enjoyable stuff. (I can’t say the same thing for the mother, you know, because of the whole “I’m physically growing another human thing.”)

But then, a few days after the birth, the inevitable realization sets in: this is going to be a long haul. And the day-to-day responsibility of caring for this fantastic new human is rather difficult and all-encompassing.

I’m finding this to be the case with TBS. We’ve shifted from pre-launch excitement to working deep in the weeds, and I’m loving (almost) every minute of it. 

Wins from the Month

• We were awarded a significant stone countertop and bench scope of work for the new Modesto Children’s Museum! Genuinely looking forward to partnering with this fantastic new non-profit and putting in a piece of the build-out that will serve the community for decades to come.

• There’s been no lack of projects to bid on, from substantial multi-family developments to small, more local commercial and residential spaces.

• A stone fabricator from about an hour east reached out. His shop roof collapsed due to snow, putting him out of commission. We are now his fabricator and were able to help him complete three projects and still secure his margin. Win-win!

What worked last month?

• Aaron and I continue to respond to new opportunities with great urgency. This has built rapport with our potential clients (“these guys are hungry!”) and helped us secure some smaller projects quickly.

• I was out of the office for a week and a half in early February, and Aaron held things down beautifully. Not easy to leave like this when a business is in its infancy!

What did not work last month?

• A key team member was out dealing with a family medical issue for three weeks. While we were pleased we could fully accommodate this need, it set us back in a few areas. One is our implementation of EOS, which had to be put on hold for this duration.

What do we need to keep doing?

• Building relationships with general contractors remains paramount, both in terms of getting on bid lists and also being their first call for “off the market” opportunities.

• When the smaller residential opportunities come in, we need to keep jumping on them. Case in point: one came in this past Tuesday, we walked it the same day, proposed the next day, and had it awarded the day following. Speed helps!

What needs to improve?

• While the number of jobs “pending award” continues to increase, we realize the more significant projects will take 3-9 months to be awarded, then another 3-9 months to actually need our services. So right now, reducing our financial burn rate as much as possible is paramount.

Financial Goal Tracker as of 02/28/23

Value of Proposals Generated YTD: $1,038,695

Value of Projects Awarded YTD: $55,710

Revenue Goal for 2023: $2,225,000

Revenue YTD: $10,976

Percentage of goal: 0.005% (That’s still not much!)

Click here for the next post in this series!

Books of Note: I may be late to the party, but the marketing framework outlined in Building a StoryBrand is remarkable. I’ve been looking for such a system for years and am so thankful for those who mentioned this one to me. We plan on rolling this out in Q2 of this year!

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