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10 Reasons Why Your Construction Firm is Failing Part 5

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In this five-part article, Sarasota construction attorneys are discussing several of the challenges that face construction business owners. Although the industry has bounced back from the Great Recession, construction owners must always be mindful of potential issues that could impact their business. By considering the ways that other companies have failed, you can develop a strategy to combat these issues and enjoy long-term success. In this final part, we will discuss antiquated firms that don’t integrate new technology into their workplace. We will also cover companies that fail to market their business. To catch up on this series, please read parts one, two, three, and four.  

9) You’re Not Evolving with Technology

Although there is some really cool technology being introduced into the construction industry, many construction firms take on an antiquated approach to project completion. There’s nothing wrong with having some tried-and-true processes you’ve utilized for decades that you can trust; however, in many cases, companies are simply failing to adapt to the times. 

There’s an exciting digital revolution underway, and every construction firm should be adopting new processes that allow them to work smarter, not harder, including:

  • Building information modeling (BIM) is revolutionizing the design phase of projects.
  • Autonomous machinery speeds up the building process and removes workers from perilous conditions.
  • Accelerated bridge construction (ABC) and other prefabricated construction techniques can reduce traffic congestion and expedite project completion.
  • Drones offer a cost-effective bird’s-eye view of jobsites and can be utilized for three-dimensional mapping technology.  
  • Cloud-based platforms allow teams to collaborate in real time, so everyone is in the know and all relevant documents can be safely stored. 

Investing in technology today can lead to success in the near future. Construction firms that fail to embrace new technology will suffer the consequences as they get outpaced by their competitors.    

10) You Aren’t Marketing Your Business

Unfortunately, sometimes there are businesses that offer a great service and have plenty of talented people, but they’re not reaching their audience. Regardless of the size of your business, a successful construction business owner is always marketing their business. Whether you have the resources for a traditional marketing campaign or are working with a shoestring budget, there are a variety of ways a contractor can get the word out on their services. 

In-person networking is a time-tested strategy wherein business owners attend events and trade shows to meet other like-minded professionals. Social media is another cost-effective way that construction firms can show off the projects they are proud of while attracting a millennial audience as a recruitment tactic. 

When construction businesses partner with a Sarasota construction law firm, they are acquiring an advocate in their corner that can not only tackle any legal issue but also assist them with key services to help them grow their business. This includes drafting and reviewing contracts, assisting with the bid process, dispute resolution, employment law, corporate transaction law, and more.  

If you would like to speak with our Sarasota construction attorneys, please contact us today.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.