00:00:11another edition of ask Evan in today’s
00:00:13video I’m going to answer questions from
00:00:14what am i readers Franklin who was asked
00:00:16about how to get started in the
00:00:18construction business so your writing
00:00:19thank you for your amazing tips I’m a 23
00:00:22year old student just finished my degree
00:00:24thinking of starting a construction
00:00:26company the problem is they don’t have
00:00:27enough capital please advise Franklin so
00:00:30Franklin a couple ideas here for you the
00:00:32first if you’re trying to get capital
00:00:34the most logical ways to go find an
00:00:36investor who has the money partner up
00:00:38with your expertise and you start the
00:00:40business the challenge is if you’re only
00:00:4123 and you just graduated and you don’t
00:00:44have a lot of experience in the
00:00:46construction field it’ll be hard to
00:00:47convince an investor to want to put
00:00:49money with you so my suggestion would be
00:00:51start by working for somebody else so
00:00:54look at the construction business find
00:00:55somebody who you respect you want a
00:00:57model we want to learn from work for
00:01:00them you’re earning money coming into
00:01:03you but you also learn the business so
00:01:04you’re making mistakes in the business
00:01:06while still getting paid from somebody
00:01:08else you start making some connections
00:01:10in the industry and you learn about what
00:01:12it is that you really want to do and
00:01:14what you’re good at so it’s best to do
00:01:16that when you’re learning on somebody
00:01:17else’s dollar than spending your own
00:01:18dollars once you kind of have a feel for
00:01:21things the next thing we’ll do is try to
00:01:22serve a service based business so maybe
00:01:24you can consult to the construction
00:01:26industry it was other services you can
00:01:28provide that don’t require a lot of
00:01:29capital because it’s just your time so
00:01:32you’re you’re sweating it out you’re
00:01:33constantly hustling you’re making a lot
00:01:35of sales but you don’t listen need a lot
00:01:38of capital to start this type of
00:01:39business once you’ve built up some
00:01:42credibility to have experience I would
00:01:45start talking to the banks and as soon
00:01:47as possible start building a good
00:01:49relationship with them because they will
00:01:51be a good friend to you hopefully as you
00:01:53try to build this construction business
00:01:55asset based businesses often have to
00:01:57work with the banks to get financing the
00:02:00proof so as soon as you can
00:02:01try to start building a good
00:02:03relationship with the bank so they know
00:02:04you they know you pay on time they think
00:02:06you’re a good business person you don’t
00:02:08want to wait till you know you’re about
00:02:10to launch and you don’t know anybody
00:02:11there who can kind of help you out so I
00:02:14build up that credibility recognition
00:02:16you started your own kind of service
00:02:18based business you’ve built up some
00:02:19contacts through working at a job and
00:02:22you built up some credibility with your
00:02:23banks then you’ll have all the resources
00:02:25you need to go up and start that
00:02:27construction business and I might take a
00:02:29little bit time to get there but the
00:02:30chances of you being able to launch
00:02:31would be successful go up dramatically
00:02:33so I hope that helps if you guys liked
00:02:36the video please give it a thumbs up I’d
00:02:37also love to hear what you guys have to
00:02:39say if you want to leave a comment below
00:02:40the video and stay tuned for the next
00:02:43episode
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