Common Construction Project Risks and How To Address Them

Every construction project has risks associated with it. As a construction company owner, this is part of doing business. How you deal with and mitigate these risks will determine how successful your job and business can be. 
Here we will discuss some of the most common risk factors, how they affect your business, and how to address them. 

Defining Your Perfect Client and Increase Your Amount of Construction Projects

Does it feel like your construction company isn’t growing at the pace you think it should be? Would you like to have more construction projects in the pipeline? If you haven’t been able to win as many contracts as you’d like or have as many clients coming to you as you want, the issue may not be a lack of available work.

 

Generate More Leads For Your Construction Business

As a construction company, you’re always lining up new projects to work on once your current ones are finished. That’s why generating new leads is important. Some construction company leaders undervalue the need to have a constant flow of leads coming in, but if you don’t have jobs lined up, you risk your crew being out of work. You also allow your competition to pick up these clients, which can reduce your share of the market. Fortunately, if you follow these five tips, you can generate more leads for your residential construction business and always have new projects in the pipeline.

5 Easy Marketing Tips to Kickstart your Business Over the Holidays

That’s where the hard part comes: how can you make the most of the digital space, especially if you are a small business owner with no budget for expensive marketing campaigns?

Here are 5 efficient techniques that you can include in your marketing strategy right away to spread the word about your business.

The Risks Associated with Blowing Off a Succession Plan

Do you have a succession plan for your construction company? If you don’t, you’re leaving your entire business open to a number of risks.
Unfortunately, a number of companies (both in construction and in other industries) don’t have succession plans. There are a number of reasons for this, but none of them are good. Succession plans are vital to ensure that your company continues on should something happen to you or to other key members of your leadership team. If you don’t have a succession plan, learning about the risks that come with ignoring this vital document may make you change your mind.

Discovering the Ideal Successor for Your Succession Plan

Do you know who will take over your construction company when you retire? If not, it’s time to begin thinking about your company’s succession plan. This plan is more than a vague idea of who will take over when you’re ready to step down—it’s a plan that ensures your company can continue without interruption if you or any of your top managers were to unexpectedly leave the business or have to take an extended leave of absence.

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5 Additional Succession Planning Considerations

Succession planning can be a huge deal for any family-run or owned business, including construction firms. The process is something that should be handled with patience and care. Poor succession planning can ruin a company and have a negative impact on personal matters. However, thoughtful succession planning will allow the company to continue to grow and thrive.

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Benchmarking For Builders in Business: Everything You Need to Know

Are you ready to grow your business or take on more jobs and customers? Are you financially where you believe you should be? Are your company’s finances balanced at all? Don’t get overwhelmed –financial performance benchmarking can help you answer all of these questions. Essentially, benchmarking is the process of comparing a business’s current financial performance with its past performance, industry standards, and the processes, operations, and financial state of other top performers in the industry.

Financial performance benchmarking isn’t really a difficult task, as long as you’ve kept good records over the years and can gather data about the construction industry and its leaders. Once you’ve done so, you’ll be able to assess positive and negative trends, identify areas where your company excels, and improve less productive areas to achieve optimum results. With this information, you’ll be able to determine if you have a strong enough cash flow to take on the debt that often comes with expanding or whether you need to take the time to work on internal processes first.

This is why benchmarking is so essential. Without it, you don’t know where your construction company stands. You can’t tell if you’re doing better than you have before or if you’re anywhere near the leaders in the industry. You can’t tell if your profit margins are the same as those of others within the construction industry or if you’re making much less than you should be.

But if you’ve never done benchmarking before, where do you start? Here are some helpful tips.

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Organic SEO Growth Strategies For Construction Companies

When you started your construction business, you probably thought you’d be, well, doing construction. You expected your duties to include managing your crew, working with clients, and maybe even spending some time getting your hands dirty on the job site. You probably didn’t anticipate sitting behind a computer trying to figure out how search engines work.

SEO, which stands for search engine optimization, is a critical, sometimes confusing topic for many small business owners who want to enhance their company’s online traffic and search results. Whether you’re independently pursuing better SEO results, or consulting with an expert, if you plan on utilizing a website to promote your business to prospective clients, SEO is a necessity. Because most people gravitate to only the top five results, without a high SEO ranking, your company’s mission and information will fall into the unseen laundry list of similar search engine results.

Fortunately, boosting your business’s SEO isn’t impossible. Here, we’ve provided the most vital concepts to understand, and strategies you can implement to put your construction business on the virtual map.

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