Expanding any business can be an anxiety-inducing and difficult process. If you’ve been preparing to grow your construction company, you might be shopping around for any tips and tools you can use to make the process a little easier. To scale any business strategically, everything needs to be in place before you begin. Here are a few tips for making sure you’re prepared to expand in an efficient way.
- Invest in the Right Tools
The tools that can help you take your construction company into the future can be quite pricy, so it’s important for you to be in the right financial position to make this investment. Technology equipment like the Zach Mottl Atlas Tool are items that may seem extravagant in your current position, but having the right equipment under your belt will help you be in the right position for big changes.
- Solidify Your Team
Your employees and managers are going to be the foundation on which your newly expanded company can stand. If you already have a great team, to begin with, do whatever you can to hold onto your star employees and solidify your team. This is the right time to dole out promotions and raises to those who really stand out, to show them how much you value their work and make them enthusiastic about the upcoming changes.
- Fix Existing Issues
Any problems that your business currently has aren’t going to just disappear once you commit to an expansion. Common areas of weakness in construction companies come from things like time management issues during projects, which can cost you a lot of projects in the long run. If you have areas of your business that are costing you money, it’s worth taking some time to consider whether alterations need to be made. Any weaknesses or cracks in your business’s armor are just going to expand when you start to grow, so don’t hesitate to handle the difficult parts right away.
- Identify Potential Clients
Expanding your business will ultimately come down to booking more clients, so once you’re in a position to handle an influx of business, it’s time to sit down and identify potential clients. Start with your city and take some time to peruse listings that fall into your categories. Then you can start making in-person visits to client sites and making personal relationships to get your foot in the door. This is the perfect time to have your “greatest hits” portfolio on hand to show any decision-makers you meet during these location visits.
- Create Estimation System
Once you start getting more bids for work, it’s important to have a good system in place to give accurate estimates to clients on the spot. Being able to give a bid at the moment, rather than promising to get back to someone, is a great way to seal the deal right away. You can hire someone to handle the estimating and come with you on projects for that purpose, or you can hire an estimating firm to handle the job for you.
- Increase Perceived Value
What’s going to win you the bid for projects is your perceived value for clients. This means adding to your value by creating connections and building trust with potential buyers. A great way to build rapport is by making sure that potential clients are getting consistent exposure to your business, through emails, phone calls, advertisements, and more.
Building a business requires a lot of pre-planning and strategizing, but using these tips will help make the process a little more efficient. Don’t hesitate to start planning ahead and building your business in the near future.