Whilst your construction company may just about be scraping by, now is the time to improve and start building your business up.
If you are going to keep your construction business running, then you need to be open to change and improvement. Otherwise, you may as well give up now.
If you are hoping to grow and improve your income, here is a list of the ten steps you need to take to get there.
Don’t overwork yourself. Whilst you may wish you were superman and could do everything yourself, you’re not, and you need to take a break.
To run your construction business properly, it is essential that you build up a team of employees you can trust. Find people with the right skills and characteristics to join your company. It is important that you choose the right people so that you feel comfortable delegating some of your responsibilities to them.
Hire new employees before you need them. Don’t wait until you become desperate, start recruiting new team members a few weeks in advance.
By hiring new team members before you need them, you will have enough time to train them to a high standard and ensure they have mastered all the essential skills.
Remember the importance of having breaks. Whilst it is your business, and it is important that you work hard to make it a success, it is also important that you take breaks and rest. Make sure that you find time to have a rest, don’t commit yourself to working seven days a week – at least have one day off.
Take the time to improve your leadership skills. Learn the difference between being a leader and being a manager.
A good manager teaches and leads employees, and does not manage them or tell them what to do. Your team will want to know that you trust their instincts, so make sure to give them some freedom to make their own work-related decisions. If a team member makes a bad decision, talk it through and discuss how you can avoid it happening again.
Keep a close eye on your costs, and spending habits. Many construction businesses make the mistake of spending too much money on materials and end up running out of funds because of it.
So, ensure you monitor spending carefully. Use Microsoft excel to keep track of your spending habits and how affordable they are.
Only do business with companies that you can trust. It is important that you form working relationships with other firms, but make sure they are respectable and trustworthy. Ensure you build close connections with supply companies. Forming connections like this can give you the opportunity of reduced prices and discounts.
Before you increase your charges test the market. Make sure that people will be willing to pay your increased prices. Otherwise, not only will you lose business, but you may also get a name for yourself as being overly expensive.
Good marketing and advertising is essential for growing your business. So, it is vital that you take the time to look at the marketing you have in place and work out how you can improve it.
Obviously, the cost of marketing is a major factor, but bear in mind that there are many free or low-cost forms of advertising available. Like, online advertising, social media advertising, leaflets, flyers, etc.