{"id":8408,"date":"2020-07-08T00:00:00","date_gmt":"2020-07-07T14:00:00","guid":{"rendered":"https:\/\/bxglobal.wpengine.com\/uk\/uncategorized\/grow-your-construction-business\/"},"modified":"2022-04-19T16:36:01","modified_gmt":"2022-04-19T06:36:01","slug":"grow-your-construction-business","status":"publish","type":"post","link":"https:\/\/stage.buildxact.com\/uk\/blog\/grow-your-construction-business\/","title":{"rendered":"6 Top tips to help you start growing your business now!"},"content":{"rendered":"<p>If\u00a0you are\u00a0looking\u00a0to grow your construction business,\u00a0the best time to start is right now.\u00a0It can\u00a0feel\u00a0like a daunting task and\u00a0you\u00a0may not know where\u00a0or how\u00a0to begin,\u00a0so we thought we would give you hand, and\u00a0list\u00a0some basic strategies that you can\u00a0start putting in place. These are\u00a0some\u00a0take-outs from\u00a0our webinar\u00a0\u2018The Biggest Future Growth Opportunity in the Building Industry Right Now\u2019 that\u00a0we co-hosted with\u00a0<a href=\"http:\/\/www.builderscoach.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Builders Coach,\u00a0Kurt Hegetschweiler<\/a>.<\/p>\n<p><b><span data-contrast=\"auto\">1. It all starts with you and your team<\/span><\/b><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>Most builders\u00a0do not start out as construction\u00a0business\u2013people, but if\u00a0you want\u00a0to fast-track your business, then you\u00a0need to\u00a0first\u00a0alter\u00a0your mindset\u00a0and\u00a0your habits,\u00a0and see yourself as a\u00a0business\u00a0leader.\u00a0Embrace\u00a0the\u00a0concept of\u00a0business development, set your standards and your goals,\u00a0and\u00a0make the commitment to\u00a0put in place the changes necessary to set your construction\u00a0business up for success.<\/p>\n<p>What do you want your business to look like and what needs to change\u00a0in order for\u00a0you to achieve your business goals?\u00a0You must have a clear vision\u00a0before you can start on your action plan.<\/p>\n<p>Equally as important are the people that you surround yourself with.\u00a0Your team must share\u00a0your\u00a0standards and values.\u00a0This includes everyone from your sub-contractors, administrators, bookkeepers,\u00a0to\u00a0your\u00a0accountant\u00a0and solicitor.\u00a0When you have\u00a0the right\u00a0people in place\u00a0with clearly defined roles\u00a0and responsibilities, and\u00a0with\u00a0you leading the team, changes are easy to implement.<\/p>\n<p><b><span data-contrast=\"auto\">2. Find your niche<\/span><\/b><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>When you actively start marketing your construction business,\u00a0there is\u00a0a good chance that you will be inundated with inquiries which can sometimes be overwhelming.\u00a0\u00a0Some\u00a0inquiries\u00a0may be exactly the type of opportunity that you want, while many\u00a0will not\u00a0be a good fit and not worth your time or effort.<\/p>\n<p>So\u00a0before you go full steam ahead with your marketing, find your niche or specialization. This will help differentiate your construction company, narrow down the type of inquiries you get,\u00a0and make you more relevant to your prospective clients.\u00a0For example, you may specialize in renovations and extensions, heritage builds eco-friendly houses, etc.<\/p>\n<p>Once you have determined your niche, start marketing!\u00a0For tips on how to get your marketing up and running, check out our blog titled\u00a0<a href=\"\/uk\/blog\/win-more-business\/\" target=\"_blank\" rel=\"noopener noreferrer\">How to Win More Work in a Competitive Marketplace<\/a>.<\/p>\n<p><b><span data-contrast=\"auto\">3. Get your \u2018financials\u2019 right.<\/span><\/b><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>Profit,\u00a0cash flow, margins,\u00a0break-even points \u2026 you must have these under control for every single construction project. Using estimating and job management\u00a0software,\u00a0such as\u00a0<a href=\"https:\/\/stage.buildxact.com\/uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Buildxact<\/a>,\u00a0will enable\u00a0you to\u00a0ensure your quotes\u00a0are accurate with consistent margins\u00a0across the board,\u00a0and that you are able to gauge your profit and cash flow\u00a0at any given time during all your projects.<\/p>\n<p>While using a system to track your financials is\u00a0a\u00a0\u2018must\u2019 for construction businesses, there are also\u00a0other things you\u00a0should\u00a0start doing to achieve success in the construction industry:<\/p>\n<ul>\n<li><strong>Price\u00a0your work\u00a0properly<\/strong>\u00a0by applying a mark-up of 25% for all items (according to\u00a0<a href=\"https:\/\/builderscoach.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Kurt\u00a0Hegetschweiler, specialist builder\u2019s coach<\/a>, this is the minimum mark-up\u00a0and you should never go below this figure)<\/li>\n<li><strong>Do not\u00a0forget to cost yourself<\/strong>\u00a0into\u00a0the jobs you quote<\/li>\n<li><strong>Have a payment schedule<\/strong>\u00a0for every job\u00a0and use the progress payments to cashflow the job\u00a0rather than your own finances.<\/li>\n<li><strong>Build cash reserves<\/strong>\u00a0\u2013\u00a0ideally 2% of turnover as working capital\u00a0that you\u00a0put in a separate bank account\u00a0to help with construction business growth or continued operations, especially during slow and difficult periods.<\/li>\n<li><strong>Have a 12\u2013week cash flow forecast.<\/strong> Knowing this allows you to make decisions for your business, eg. when to add a new staff member, when to put new systems in place, etc. to remain competitive in the construction industry.<\/li>\n<\/ul>\n<p><b><span data-contrast=\"auto\">4. Systemise your business<\/span><\/b><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>A lot of builders\u00a0are still using\u00a0\u2018old school\u2019\u00a0methods\u00a0to run construction companies and are\u00a0doing things the hard way.\u00a0In this day and age,\u00a0you just cannot compete unless you implement\u00a0the right systems and technology to improve efficiencies and take control of your business to dominate a niche market.<\/p>\n<p>You may already be using accounting software such as\u00a0<a href=\"https:\/\/www.xero.com\/uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Xero<\/a>\u00a0or\u00a0<a href=\"https:\/\/www.myob.com\/au\" target=\"_blank\" rel=\"noopener noreferrer\">MYOB<\/a>,\u00a0but\u00a0you will\u00a0find that you can systemize most areas of your construction company.\u00a0Buildxact\u00a0can\u00a0help you when it comes to estimating and job management,\u00a0while\u00a0<a href=\"https:\/\/www.deputy.com\/au\" target=\"_blank\" rel=\"noopener noreferrer\">Deputy<\/a>\u00a0will take care of all your time\u2013sheeting\u00a0requirements.\u00a0These\u00a0systems\u00a0all\u00a0integrate with each other so that\u00a0there is\u00a0no double-handling.\u00a0That is\u00a0the type of\u00a0efficiency\u00a0that you need to set up so that your staff can work smarter and not harder while increasing productivity and handling many construction projects. This will go a long way to go after prospective customers and improve your sales process to win more jobs.<\/p>\n<p><b><span data-contrast=\"auto\">5. Take control of your leads<\/span><\/b><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>When\u00a0you are\u00a0presented with a potential job that is a good fit for your business,\u00a0take control immediately and steer the conversation and the process.\u00a0Communication\u00a0is the key.<\/p>\n<ul>\n<li><strong>Start by charging for your quotes\u00a0<\/strong>as this will eliminate any tire kickers and will also place a value on\u00a0your quoting process.<\/li>\n<li><strong>Have the difficult conversations with your potential clients upfront<\/strong>\u00a0and set expectations so that they know what will happen if, for example,\u00a0a variation is required during a job, or\u00a0there are defects\u00a0at the end.<\/li>\n<li><strong>Set up a\u00a0client portal for your potential clients<\/strong>\u00a0right from the get-go so that they can see first-hand how they will work with you.\u00a0Buildxact\u00a0can help you with this.<\/li>\n<\/ul>\n<p>Being open and honest and showing that you are in control builds trust and\u00a0credibility and leads to repeat and referred business.\u00a0It helps you convert your leads into clients,\u00a0and once you have won a job, it\u00a0protects both you and them, and helps ensure that your jobs are delivered to budget, on time, and most importantly for you, that they are profitable.<\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><b><span data-contrast=\"auto\">6. Get help<\/span><\/b><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>As the leader of your company, you are tasked with steering your business in the way you want it to go\u00a0and spearheading the change necessary to increase its success.<\/p>\n<p>Remember that you are not required to\u00a0be\u00a0an expert in all areas so get the right help to\u00a0assist you in\u00a0kick-starting and managing change.\u00a0It will be money well spent and\u00a0while you may not see immediate results, be patient\u00a0because you will\u00a0certainly\u00a0reap the rewards\u00a0in the not too distant future.<\/p>\n<p>It usually takes\u00a0about\u00a012 to 18 months to experience the full impact of the changes you implement in your business,\u00a0so\u00a0grab the bull by the horns, get the help you need and stick with it. Consistency is the key here.\u00a0A great team is the secret ingredient to make a business successful.<\/p>\n<p>Work with your team to beef up your online presence and offer online options to help with customer satisfaction. Construction companies that embrace technology set themselves up for success and are more likely to navigate the many changes that can take place in the industry.<\/p>\n<p>Here is\u00a0to your success!<\/p>\n<p>These are just the six top takeaways from our\u00a0webinar\u00a0\u2018The Biggest Future Growth Opportunity in the Building Industry Right Now\u2019\u00a0that we co-hosted with\u00a0<a href=\"http:\/\/www.builderscoach.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Builders Coach, Kurt Hegetschweiler<\/a>.<\/p>\n<p>If you are interested in finding out more,\u00a0<a href=\"https:\/\/youtu.be\/i-CWkEZ3njU\" target=\"_blank\" rel=\"noopener noreferrer\">click here to watch the webinar recording.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If\u00a0you are\u00a0looking\u00a0to grow your construction business,\u00a0the best time to start is right now.\u00a0It can\u00a0feel\u00a0like a daunting task and\u00a0you\u00a0may not know where\u00a0or how\u00a0to begin,\u00a0so we thought we would give you hand, and\u00a0list\u00a0some basic strategies that you can\u00a0start putting in place. These are\u00a0some\u00a0take-outs from\u00a0our webinar\u00a0\u2018The Biggest Future Growth Opportunity in the B<\/p>\n<div style=\"display:none;\" class=\"postcatlist\"><a href='https:\/\/stage.buildxact.com\/uk\/tag\/construction-advice\/'><span>Construction advice<\/span><\/a> <a href='https:\/\/stage.buildxact.com\/uk\/tag\/webinar\/'><span>Webinar<\/span><\/a><\/div>\n","protected":false},"author":3,"featured_media":4211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[25],"tags":[138,137],"contributing_author":[],"class_list":["post-8408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-construction-advice","tag-webinar"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>6 Tips to Grow Your 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