Is it the time to expand your construction business? Are you looking to explore into new markets or territories? Growing your construction company in London, whether you’re just starting or have been in the business for quite a long time, requires careful planning. To strategically scale up your operations, you should ensure you will have the resources (laborers, equipment and so on) to handle with the extra work.
Here are 12 tips to help you with growing your construction business:
1. Built a Great Team
In construction, your people are your business. Recruit dependable, knowledgeable and skilled workers. Retain your best workers by promoting and rewarding them for their hard work and reliability.
2. Manage Your Business, but Lead Your People
Your workers need to be driven, not managed. Be a great leader and your workers will follow you anywhere. If you try to manage each part of your employees work they will think you have no trust in their ability to make good decisions and properly manage their responsibilities.
3. Invest In Your Business
If you need to earn more business you need to put time and money into your business. It means purchasing new equipment and technology as and when required, training your workers and actively marketing your business.
4. Be Selective To Be Profitable
It’s not sufficient to just acquire more business. At the point when you take on more work it needs to profitable. There’s no sense in multiplying the quantity of jobs you work if you aren’t increasing your profits.
5. Spread The News
Word of mouth remains the main strategy most construction businesses use to market their business and earn more work. It is very important to encourage your best customers to tell others about the great work your company does.
6. Play To Your Potential
Would you rather have your company be known as a fair all-around general contractor firm or the best general contractor doing LEED – certified hotel redesigns? Finding a niche market or specializing in a specific industry can set you from your competitors.
7. Network To Earn More Work
One of the best ways is to join the network and be active in the local chapter of a trade association. Networking can be a valuable tool to build brand awareness for your company, generate leads and find vendors. Being active and giving your community is also a great network opportunity for your business.
8. Quality Is King
Tread cautiously while considering any measure that could sacrifice the quality of your work. Cutting corners to reduce expenses accelerate completion of a project can be detrimental. Your company’s reputation for accomplishing quality work is just on a par with your last project so never compromise your high standards of performing quality work.
9. Change Is Good
Adaptability is one of the keys to success in the construction business. As we’ve seen with the recent recession, construction can be a volatile industry. If you are unwilling to make changes in your business to stay aware of the changing trends you are setting yourself up for disappointment.
10. Give Incredible Customer Service
Pleasing your customers should be a top concern. This doesn’t mean you need to cave to all their demands. You should be effectively speaking with your customer on all parts of a project so you can be equal partners in the decision process. Your satisfied customers will give you repeat business and also great referrals.
11. Be Proactive, Not Reactive
You can’t simply sit back and expect more work should just fall in your lap. You need to proactively seek out new opportunities to hold and grow your business. Constantly reach out the proprietors, architects and general contractors you find what projects they have on horizon.
12. Make Smart Decisions
We make thousands of decisions each day, most of which are unimportant. With regards to earning more business, this often means making hard decisions that will affect your success for quite a long time to come. Take the time to think about all angles and options and perform your due persistence for future achievement. Never get pressed into making on impulsive decisions.
