Small construction businesses have several characteristics that distinguish them from larger firms. These characteristics include having a limited workforce, smaller revenue streams, and a more localized focus.
They are often run by the owners themselves or a small team of employees. They tend to have a more personal approach to their work, as they are usually more involved in every aspect of the project. Due to their size, they are often more flexible and able to adapt to market or project scope changes. However, they may also face challenges such as limited resource access, difficulty securing financing, and increased competition from larger firms.
Over the years, we have had many successful construction clients. The seasoned ones have become lifelong friends and are now retired, living according to their terms. And several are still working according to their schedule with quality, high-paying clients.
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Topics:
MAP vs. PAM,
Secrets Of Highly Successful Contractors,
Construction Forecast,
Contractor Guidance,
Construction Business Goals,
Construction Business Budget
If you're like many construction business owners, you may need help understanding your finances or how you can use your financial information to make decisions for your business. We often get into business because we love a product or service we want to provide, but it's less common that we love managing the financial aspects of our business.
As a construction company owner, you have the best chances of success when you regularly set budgets, develop financial forecasts, and establish goals. Budgeting, forecasting, and goal-setting are best business practices that can help you stay on track and ensure long-term success.
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Topics:
MAP vs. PAM,
Secrets Of Highly Successful Contractors,
Construction Forecast,
Contractor Guidance,
Construction Business Goals,
Construction Business Budget
Stepping up your marketing game as a construction business owner is always a welcome topic in my client conversations. Often, contractors chat with me about the best way to promote their company, primarily because no one else is running it.
You may focus more on accounting and taxes at times, and at other times, your business may slow down, and sales become more challenging. Given this trend, establishing and maintaining connections with existing and potential customers has become more critical.
So, if you're looking to do some construction business promotions to attract more quality clients, what do you do, especially on your own? Here are some practical tips that I highly suggest to consider:
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Topics:
Marketing Ideas For Contractors That Work,
Construction Marketing,
Contractors Emergency Marketing Plan,
Secrets Of Highly Successful Contractors,
Contractor Guidance
Running a small construction business may seem like hopping from one task to another, needing more support and guidance. That can make it tempting to let some to-dos on your checklist slide, especially those related to finances, which can be challenging and are often outside your preferred skill set or experience.
The issue, of course, is that clients can only pay you once you've invoiced them. And as you make your salary a top priority, you can also pay yourself. You need an invoicing system that makes the process less painful—or even removes it entirely from your hands.
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Topics:
Do What You Do Best And Outsoure The Rest,
Secrets Of Highly Successful Contractors,
Contractor Guidance,
Get Paid On Time,
Construction Business Owner Salary
Contractors like you know how to pound nails, pour concrete, build homes and commercial structures, bend pipe and pull wire, install roofs, lay carpet, paint walls, and perform a thousand other tasks. So why are you not enjoying the same standard of living as other professionals? Because you are doing all of those things for anybody and everybody who asks you to.
Too many contractors are overworked, undervalued, and underpaid. We seek to change that for as many contractors as possible as we know how almost every sound, solid, hardworking, well-intentioned contractor is going out of business or barely scraping by, and that has to end here and now.
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Topics:
No Charge consulting,
Secrets Of Highly Successful Contractors,
Contractor Guidance,
How To Charge Clients,
Value of Construction Contractors
As a construction company owner, you're the architect of your business's vision and culture. But some of the foundation often needs to catch up in the hustle to improve services, chase sales, and keep the lights on. Core values—those guiding principles that shape your company's identity—are more than words on a wall or a statement in a handbook.
Getting leads and doing the work is only part of the answer. Not answering them and acting on the knowledge is why many construction companies wither and die. They focus on the wrong areas to innovate or improve. They focus on the wrong enemy and threat. As a result, they need to catch up on what they could be doing to succeed and prosper over time.
Is the elevator pitch you used a year ago – even six months ago – still accurate? Unless you are crystal clear on who you are as a construction company, whom you're here to serve, and what you hope to achieve in the next one to three years, it will be hard to come up with meaningful goals.
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Topics:
Secrets Of Highly Successful Contractors,
Contractor Guidance,
Core Values of your Construction Business,
Core Values
Customer service is the heartbeat of any successful business. The unsung hero transforms a potential disaster into an opportunity and a mere transaction into a lifelong relationship. In the narrative of customer loyalty and retention, service is the protagonist.
Your approach to customer service has the power to attract and retain clients. As a construction business owner, client service is critical to your company's success. It is essential to understand what your clients want and how you can provide the best service possible to meet their needs.
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Topics:
Give Your Customers And Clients What They Want,
High Profit Repeat Construction Clients,
Customers Vs. Clients,
Secrets Of Highly Successful Contractors
How are you and your construction business? Have you considered what you'd like to achieve in the coming twelve to eighteen months? Or maybe your set of priorities for the next half of 2021?
Contractors like you are typically highly creative and optimistic; thus, you often have difficulty narrowing down your ideas from among all the exciting possibilities, whether it's an opportunity to expand to a new market or choose a better time management strategy.
While some of you love planning, others feel overwhelmed by the process. So how do you decide on just a handful of goals that take priority, with so many moving parts that make up a construction business?
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Topics:
Construction Strategy,
Systems And Processes,
Secrets Of Highly Successful Contractors,
Contractor Operating Tips,
Construction Business Goals
Today's Guest Article Is From Tom Reber Of The Contractor Fight
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Trying Something New Part 2 Of 2
Get A Picture
The second approach I recommend is having them send you a picture.
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Topics:
Secrets Of Highly Successful Contractors
Today's Guest Article Is From Tom Reber Of The Contractor Fight
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Trying Something New Part 1 Of 2
When I first became a contractor many years ago I did what everyone else did when the phone rang: I ran out and gave an estimate.
That’s what we do as contractors, right?
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Topics:
Secrets Of Highly Successful Contractors
