In an increasingly competitive market, most contractors are working to the slimmest profit margins. One way to improve your profit margins is to reduce the cost of each build. When you run a tight ship, your processes are streamlined and you offer a better, faster service with an organized, experienced crew. Many of the costs associated with a build are beyond your control; materials, land and labor all come at a price which the market dictates so your focus should be on the direct construction costs.
Accidents on construction sites can jeopardize the safety of your team and the public while causing delays or financial loss. While most construction sites already require safety with the use of protective gear and adherence to safety standards; reminders are never a bad idea.
As a business owner or site manager, you know the value of competent employees and the costs associated with getting rid of those employees who compromise the quality of your workmanship. Not only can incompetent employees reduce the quality of a build, they can also compromise the relationship you have with your clients and may cost you thousands in referrals.
Most construction firms rely on word-of-mouth to get new referrals, but you can’t just sit idly by and hope your customers do all your marketing for you. With a little forward planning and investment, you can give your referral rate a boost in 2015 which will allow you to take on more work and grow your company.
The owners of small to medium construction firms must wear many hats and one of the most vital is that of sales manager. You must convince the home buyer that their trust in you is justified and that you will build the house of their dreams. Here are some tips no how to improve your closing rate so you spend less time pitching to clients and more time building homes in the coming year.
After the housing crash, many construction industry professionals retooled or left to pursue careers in other fields. Coupled with a drop in intake numbers, the industry is facing a lack of qualified personnel to fill positions in the coming year. When the time comes to face these shortages, how will your construction company cope? What strategies do you have in place to guarantee your continued profitability?