I think we all know that it's challenging to succeed in business. So what exactly does it take to achieve SUCCESS in the Construction Industry as a builder?
Is it just a matter of hard work and determination *OBVIOUS Strategies Construction Business*, or are there some not-so-obvious factors significant in one's success?
After working with hundreds of companies over the past 15+ years in the Construction Industry with on-site AND client-based experience, I'll tell you what I've figured out.
The first, most important thing you can do to get more business and grow your construction company is:
1. Visit Potential Clients
Construction is a relationship-based industry, meaning it’s all about who you know and how well you know them. Going out and talking to clients, asking for referrals & staying top of mind for potential clients is the #.1 foolproof way to create opportunities.
Keyword - CREATE - That’s why it’s at the top of this list.
2. Outsource, and Hire an Estimating Company We all know that having a bookkeeper, project manager, and salesperson to help run your business is excellent for your business - after all, you can't wear every hat.
But what if you could add one more person to the team who would allow you to spend more time doing the things that make you money?
LIKE visiting clients or potential clients. That’s what hiring an estimating company is all about.
By letting them take over the estimating process, they can provide detailed estimates for your bids so that it's already done when you’re ready to close a deal. Plus, because they’re doing all of this work for you, they can also give you more accurate estimates than if you were doing it yourself - benefiting you and your relationship with your trades AND clients.
3. Demonstrate Expertise As a company in the construction space, you want to be known for your expertise. To get more business and create more opportunities, you must stand out and prove you're an expert.
In any case, perceived expertise is usually attributable to some combination of the following:
a. Credentials. You need definable metrics that, more or less, "prove" you're an expert. Showcasing successful projects using content and social media is one simple way of doing that (especially in 2023), or testimonials across your digital presence (website, social media etc).
b. Originality. There are likely thousands, or even millions, of people claiming to be experts like you. So what makes you different? Hone in on that & share it.
4. Ask For Referrals
Referrals are one of the best ways to grow your business. You can quickly get them by asking for them, and it’s as easy as that. Just ask!
Just asking for referrals on the job or after can go a long way.
Let's say, for example, your team is working very fast on an existing project, and it's going smoothly; a simple “Do you have any other friends/family or people in the market for a custom build?” can easily land you some new opportunities and clients.
There is zero cost involved in asking that question and a much greater chance of you landing new business opportunities.
You have to be worthy of a referral, though.
Even if it seems obvious, prioritizing efficiency to impress your client will help to keep you top of mind for any of your clients and the way in which they speak about you.
Word of mouth is STILL the most powerful form of marketing. Word of mouth = instant trust.
The construction business is ripe with opportunities.
However, it's not easy to break in and will require specific strategies and tools to succeed.
If you work hard and develop the right strategies, you'll be able to build a successful construction business.
