Most large construction companies started small. We’re talking back of the garage, one or two men on the job kind of operations. If you’re in the construction business and want to take things to the big time, there’s no better time than now to get going. Here’s a few steps that’ll help you grow your business.
Get Your Org in Order
Before you even consider expanding your construction empire, you’ll need to understand the health of your business on a holistic level. Talk with accounting, management and any other key stakeholders within your organization and get everyone on the same page. Understanding your financial situation and coming up with a plan to grow the business and manage funds responsibly is the first step toward growth.
Additionally, you’ll want to make certain that you promote yourself hard. Spend a couple hours each day getting a website in order, printing business cards, and getting set up with listings. Mail postcards to potential clients—whatever it takes to spread the word. In addition, make sure to invest in high-quality construction equipment and tools like rebar accessories, jackhammers, etc. If you still don’t have the capital to purchase heavy-duty construction tools and equipment, you can get in touch with a Commercial Construction Site Equipment Rental company and look for a crane rental, aerial lift rental, etc.
Attract More Capital
Unfortunately, securing the funding you need to take your operation to the next level can be a major roadblock for smaller construction companies. Small businesses, in general have issues getting cash flow — knowing this, it’s a good idea to speak with a financial advisor and find ways to increase your line of credit or secure a loan to hire more staff and purchase the materials you need.
Additionally, you’ll want to implement some measures to ensure you are spending smart — eliminate waste as much as possible to further stretch your dollars.
Use Technology to Your Advantage
Keep up with the tech of the times, many construction business owners are stuck in the past and don’t fully take advantage of the many benefits things like cloud storage and organization-wide data sharing can offer. Or use technology to help you order new supplies like thermocouples and more. Find more info at RS Online.
Ideally, you’ll feature your business on Facebook, the Yellow Pages, Yelp and more, giving customers the space to review your services, and ultimately drive more traffic to your site.
An investment in key technologies up front can lead to major savings down the road.
Focus on Customer Service
Happy clients provide return business and a number of referrals. Put customer service first and make sure you hire staff that can exceed client expectations on an interpersonal level, as well as deliver on the bids you make—that means, sticking to the expected timeline as much as possible and keeping the project within budget. In short, the contractor-client relationship should be as user-friendly as possible.
In the end, if you’re looking to grow your construction business, all these little things add up. From scheduling and getting the capital you need to get things off the ground, to providing excellent customer service that leads to referrals, quality service wins out in the end. Sometimes, you just need to get the word out.
