In article one, our Brandon construction attorneys gave you four tips to help you maintain and grow your contracting business. In this second part, we’ll give you four more ways to ensure your contracting business will thrive in today’s competitive construction industry.
Be Wise With Spending
Cash flow is big deal in construction. Are you prepared to handle not getting paid on time? What would you do if the cost of the project exceeds your original budget? Paying attention to your overhead expenses and knowing the full scope of the cost of a project before taking it on is vital.
Deliver Exceptional Customer Service
No matter where you go or what business industry you work in, you will never escape the need for good customer service. Because the construction industry can be quite adversarial and competitive in nature, improving the way you interact with your customers will give you an edge over your competition.
Construction work must be completed in the most efficient and cost-effective way possible in order to get the best profit. While this is not always the easiest to achieve, keeping certain factors in mind will help you increase productivity. For example, keeping a tight watch on change orders will help you keep projects on track and keep you from losing money. It’s also important to keep your crew on schedule and the billing on track. This will help you complete your projects on time and will ensure you don’t squander money.
Put More Effort Into Marketing
If you want to grow your business, you must embrace marketing. Sure, word of mouth works, but an overwhelming number of people are influenced by what they see on the internet. A little investment into your business can go a long way when you invest in a website, company paraphernalia, customer incentive programs, and social media.
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.