The overall construction market has largely recovered from the Great Recession of the last decade, but that doesn’t mean competition has faded. If you run a construction company, rest assured there are plenty of other companies out there that want to eat your lunch. At Raken, the producer of the #1 Daily Reporting App in the country, we know first-hand it is still a very competitive sector.
In the ever-increasing construction industry, the slightest advantage could make-or-break winning a multi-million dollar contract. Here are six ways your company can stand out from the crowd and help you secure projects and increase revenues:
- Embrace the future. Keep up with emerging trends. If you are still using pen and paper for daily construction reporting, or think a drone is only something that appears over battlefields, you have some learning to do. Technology is a great leveling mechanism, enabling smaller construction companies and contractors to compete with much larger firms.
- Network. Then network some more. This extends beyond glad-handing at Chamber of Commerce mixers. Make sure your social media presence is robust, and hire a professional to do it if needed. While word of mouth still generates substantial leads, rest assured your credentials will be scrutinized before landing a job. This will include a thorough vetting of your social media presence, and you want it to be up-to-date and well-sourced. A content-rich website also increases your ranking on search engines when potential customers start clicking around for construction companies.
- Find a niche. This should revolve around your personal project preferences. Like visioning a project from beginning to end? Then maybe you should focus on fostering a design-build niche. Are you green at heart? Maybe focus on LEED-certified or sustainable construction practices. Interested in business overall? You could focus your company on franchise construction or renovations.
- Build a good team. If you frequently have to find new superintendents or project managers, maybe you need to reevaluate your hiring practices or your company’s culture. Never stop recruiting. Go out of your way to retain your best and brightest employees. Remember, skilled laborers, designers, and builders are increasingly scarce. If you end up having to constantly micromanage your company, you are going to find yourself very much alone in some very tall weeds. Your number one goal should be to grow your company, not do the jobs best left to subordinate managers.
- Emphasize customer service. Even the contracting business is ultimately a people business. Building your brand on positive client services is much harder to accomplish than wrecking your reputation: That only takes one instance of poor customer service. And in the construction business, as in any business, word gets around.
- Stress communication. Strong communication on a construction site reduces the risk of injury, prevents potential litigation, and keeps your project on-time. Embrace technology that empowers stronger and transparent communication between all members of a job site. Make a point of highlighting good examples of preparedness and communication when you see it happening so others will follow.
These are exciting times to be in the building construction industry. But now is the time to take the fight to your competitors before they beat you to the punch.
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