No matter what business you run, if you aren’t growing, you’re probably starting to weaken. Whether you’ve been around for two years or 20, growth simply isn’t an option. But how do you keep your team going up and to the right? Well, we’ve asked ourselves that question many times. In addition to growing our own business, we want to be your best ally when it comes to growing yours. Here are some tips that can help you get on that growth track for years to come!
Key Tips for Growing Your Construction Company
Identify what works for you.
You may not be the only construction company in the world, but you are different from all the rest in several ways. This means that some “universal” strategies will work for you and others will not. It’s okay to discard certain rules and embrace others. The key is taking the time to get an accurate picture of what really works and what doesn’t. For instance, maybe you grow quickly because you frequent trade shows. Some may declare trade shows a waste of time, but if trade shows work for you, identify them as an advantage and keep attending them.
Fully embrace online marketing.
Having decades of success under your belt is a great thing, but all too often, older contractors fall to the wayside because they don’t embrace online marketing. If you don’t exist online, you don’t exist for a majority of your clients. Now, we’re not telling you to abandon other marketing ecosystems, but if you want to grow, online marketing is not optional. Studies have shown that contractors who utilize online marketing grow four times faster than those who avoid it. If you don’t want to do the marketing yourself, find a company that can handle the burden.
Install systems that monitor growth.
Do you assume that when your firm grows, you’ll know it? This is a major mistake. It’s pretty easy to see short-term growth, but it’s only part of the picture. Identifying long-term growth takes time and consistency. Whether it’s regular reports or consulting with experts, make sure you can keep a pulse on the long-term trajectory of your company. That way, you’ll know when to wait and when to jump forward, keeping your company successful for as long as possible.
Look at becoming more specialized.
In general, construction firms that specialize grow faster. Why? Because, instead of targeting every potential customer for every service in the book, they know who to target, and they can get the job done with excellence. They have a straight path to a good reputation. That being said, specializing means letting some services fall away, which can be unnerving. What if you miss out on clients who need those services? Don’t focus on that. Instead, pour your energy into focusing your business like a laser, becoming easier to understand and therefore more trustworthy. You’ll not only see growth, you’ll see your overhead costs go down as you focus your resources on a smaller pool of materials and tools.
Make great technology a priority.
We all know that using dinosaur-era tools on a construction site is a recipe for disaster. Well, the same thing goes for the tools you use to manage your company. If you aren’t using construction software, you’re miles behind your competitors. Old management tools make you slow, prone to mistakes, and vulnerable to problems that younger companies have already solved. Let SITECH Rocky Mountain help you embrace the technology learning curve and watch it launch you into the stratosphere!