Perfekt’s Revolutionary Evolution

06-Jun-2013

By Keith Estenson, CEO, Perfekt 

“What can I do to help contractors grow and strengthen their business?” That was my thought during my early days as a residential builder. I had assembled a team of subcontractors and material suppliers and quickly discovered that, while most contractors are very skilled at their trade, many didn’t have the time to devote to the operational management of their businesses.

I soon found myself playing the role of business coach and advisor with my subcontractors. Donuts and coffee breaks led to impromptu business strategy sessions, a time to exchange ideas. The subcontractors that excelled at their trade, and who also wanted to excel with their business, made me a better builder. I began to envision the synergistic growth and opportunities that could be possible with a group of like-minded contractors.

Searching For a Solution

In the course of looking for such a group I found a multitude of builder and contractor associations, but the meetings were generally poorly attended and they rarely focused on the fundamentals of building businesses. So I sat down to write a plan with the intent to help contractors (of all trades) build their business. That's when Lien Guaranty fell into my lap.

Lien Guaranty served notices on behalf of contractors and suppliers to secure their lien rights. I thought this would be a great service-based business to help contractors and suppliers with at least one aspect of their business.

The Start of Something Big

In 2006, I purchased Lien Guaranty, moved its operations closer to home, changed its name to Perfekt, and began operating it as a family based business with a hand-picked team of account managers. 

For the first few years, we operated under a strong construction economy, which sustained us despite our steep learning curve. Then the construction bubble burst. We suffered along side many of our clients. A few of our advisors suggested that Perfekt make some steep cuts, but we were looking to the future with three objectives in mind:

  1.  Maintain our high level of service
  2.  Invest for the future by improving technologies and marketing
  3.  Revitalize the industry; ultimately improving the lives of contractors

An Unexpected Result

Through our online presence and marketing, we began growing much quicker than anticipated. During certain months in 2012, we brought on more clients than we did the entire year of 2008. As we proved our concept other doors began to open.

In early 2013 we were asked to become a brand partner with 3Rhino, a growing technology company. 3Rhino had developed technology tools for contractors and were pulling together the best of the best to become brand partners to improve their software tool for contractors. Initially, 3Rhino was interested in our expertise as a lien management company, and wanted to add Perfekt’s lien management system to their current platform - making Perfekt a value-added service to their clients. But as discussions developed, 3Rhino discovered that we had more to offer. Perfekt:

  1.  Understands their technology and how it can be applied to the industry;
  2.  Excels at marketing to the contractor market; and,
  3.  Has a reputation of impeccable service.

It became clear to both parties that Perfekt could be the "service" to 3Rhino's "technology". So Perfekt entered into a strategic alliance agreement, allowing us to be the sales and service arm for 3Rhino with the intent of national expansion for both companies.

Our New Business Model

We decided to align our business model with 3Rhino. Adding the Perfekt technology to the 3Rhino platform would create a synergy that benefitted both companies, and more importantly, our clients - the contractors.

We envisioned alliance opportunities that would help improve the construction industry through collaborative business solutions. With a passion to help contractors with the business of construction, we are seeing new levels of synergy. Here is the result of that vision: Perfekt is now evolving from “Perfekt: Construction Lien Management” to “Perfekt: Construction Business Solutions”.

When I first began my journey in this industry, I saw the need to help contractors with their business. Today, that need is even greater. Perfekt is excited and passionate about helping contractors with the business of construction. Our goal, in the end, is to revolutionize the world of construction and improve the lives of those that work in it. Each day I still ask myself, "what can we do to help contractors grow and strengthen their business?" Stay tuned as we continue to find and offer the best solutions for you.