The demand for construction contractors has steadily grown over the past few decades, with the last few years being somewhat of a rollercoaster. The industry has expanded, and there are now seemingly more customers than contractors – creating a higher demand for contractors and a backlog of work for many.
Regardless of the current market, your construction business should still find ways to stand out. Although completed projects speak for your work, your reputation hinges on more than that. Take advantage of some proven strategies for becoming and staying visible in a sea of competition.
Pivot Your Services or Markets
Even if you’ve been specializing in a particular type of project for years, it may be work considering expanding your skillset and offerings. For example, new construction homes are being passed up for home renovation projects; schools and healthcare buildings are also booming in demand. Get your feet wet by submitting bids for projects you usually wouldn’t tackle and see how it works for your business.
Try Your Hand At Development
You have the skills, resources, and labor to tackle construction projects. Why not become a project manager on a renovation of your own? Find space to build up and rent out, either for businesses or residential housing; this can build equity and capital for other ventures and give your team a chance to create a new addition to your company’s portfolio.
Network, Network, Network
Don’t be afraid to ask anyone and everyone in your sphere of influence how your construction business could be better. This goes beyond reading online reviews or asking clients for testimonials. Have meaningful conversations with them, of course, and talk to the city planners you work with, subcontractors you have relationships with, or vendors you work with to procure materials.
Get the Inside Scoop
Who better than your employees to give you feedback on how you make your construction business better? Create a system for them to share their thoughts – this could be a quarterly meeting or an anonymous suggestion box, whatever works for your team. What can you help them do to streamline their jobs and ultimately create better projects for your clients?
Although hiring in the construction industry has been like the Wild West lately, it may be time to replace low performers on the team. If your goal is to get ahead of the competition, it’s time to create a team that will keep your construction business’s success at the core of what they do. This also allows you to adjust wages based on projected profit margins and goals and hire new workers at a different pay grade.
Expand Your Partnerships
In each project that your construction business undertakes, thousands of tasks must happen in a specific order throughout the process. Every following step is affected when a delay occurs in one step, causing even more delays and increasing costs – and pushing you even further back from the pack of competitors.
When starting a project with TD Wilson, you benefit from our decades of experience and our expertise with today’s top CPM software products. Our approach to developing a well-defined project schedule leaves nothing to chance.
When you add Tom Wilson to your commercial construction project team, you bring 30+ years of experience in engineering and construction to your job site and notable expertise in today’s sophisticated project portfolio management (PPM) software. We have acquired a vast portfolio and a reputation for excellence among clients. We regularly manage multimillion-dollar land- and marine-based projects, such as high-rise office buildings, sports facilities, and light-rail transit. Contact us today to get started!