{"id":8408,"date":"2020-07-08T00:00:00","date_gmt":"2020-07-07T14:00:00","guid":{"rendered":"https:\/\/bxglobal.wpengine.com\/nz\/uncategorized\/grow-your-construction-business\/"},"modified":"2023-03-08T11:49:18","modified_gmt":"2023-03-07T23:49:18","slug":"grow-your-construction-business","status":"publish","type":"post","link":"https:\/\/www.buildxact.com\/nz\/blog\/grow-your-construction-business\/","title":{"rendered":"6 Top tips to help you start growing your business now!"},"content":{"rendered":"

If you are looking to grow your construction business, the best time to start is right now. It can feel like a daunting task and you may not know where or how to begin, so we thought we would give you hand, and list some basic strategies that you can start putting in place. These are some take-outs from our webinar \u2018The Biggest Future Growth Opportunity in the Building Industry Right Now\u2019 that we co-hosted with Builders Coach, Kurt Hegetschweiler<\/a>.<\/p>\n

1. It all starts with you and your team<\/span><\/b> <\/span><\/p>\n

Most builders do not start out as construction business\u2013people, but if you want to fast-track your business, then you need to first alter your mindset and your habits, and see yourself as a business leader. Embrace the concept of business development, set your standards and your goals, and make the commitment to put in place the changes necessary to set your construction business up for success.<\/p>\n

What do you want your business to look like and what needs to change in order for you to achieve your business goals? You must have a clear vision before you can start on your action plan.<\/p>\n

Equally as important are the people that you surround yourself with. Your team must share your standards and values. This includes everyone from your sub-contractors, administrators, bookkeepers, to your accountant and solicitor. When you have the right people in place with clearly defined roles and responsibilities, and with you leading the team, changes are easy to implement.<\/p>\n

2. Find your niche<\/span><\/b> <\/span><\/p>\n

When you actively start marketing your construction business, there is a good chance that you will be inundated with inquiries which can sometimes be overwhelming.  Some inquiries may be exactly the type of opportunity that you want, while many will not be a good fit and not worth your time or effort.<\/p>\n

So before 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, and make you more relevant to your prospective clients. For example, you may specialize in renovations and extensions, heritage builds eco-friendly houses, etc.<\/p>\n

Once you have determined your niche, start marketing! For tips on how to get your marketing up and running, check out our blog titled How to Win More Work in a Competitive Marketplace<\/a>.<\/p>\n

3. Get your \u2018financials\u2019 right.<\/span><\/b> <\/span><\/p>\n

Profit, cash flow, margins, break-even points \u2026 you must have these under control for every single construction project. Using estimating and job management software, such as Buildxact<\/a>, will enable you to ensure your quotes are accurate with consistent margins across the board, and that you are able to gauge your profit and cash flow at any given time during all your projects.<\/p>\n

While using a system to track your financials is a \u2018must\u2019 for construction businesses, there are also other things you should start doing to achieve success in the construction industry:<\/p>\n