2020 was a tough year for the construction industry around the world. The COVID pandemic made many planned projects grind to a halt. Many construction companies suffered financially, and some went out of business entirely.
If your company weathered the storm, you’re undoubtedly looking for ways to grow your business in 2021.
1. Hire a business development professional
Construction companies are filled with people who can do their jobs well. Whether that’s a project manager, laborer, cost estimator, or accountant. But the one thing that they probably can’t do, is selling your services to the right people.
Business development consultants know how to get in front of the right people, to network and sell. In an industry that often works by referrals, it can be difficult to get into the mindset of selling, that’s why you need to hire outside help.
Choose someone with a good reputation and experience in the construction industry. There are many benefits to having someone from outside of your business assess its strengths and weaknesses from a different perspective.
2. Strengthen your team
Recruiting and retaining the right people is so important when growing. The right people can bring new skills to your business and help you to get where you want to go.
Do some research into successful construction companies you admire and learn how they are structured. You can then decide to either upskill your existing staff or headhunting for new members of the team.
A strong, well-engaged team will not only perform well but create a great workplace culture that succeeds and attracts high-quality candidates.
3. Learn to write a great proposal
A great proposal isn’t only one that is technically competent, it’s also a representation of your company. If you throw the bare minimum into your proposals, you’re showing that you do not think it’s important enough to put any effort into it. How do you think a potential client will react when they have multiple high-quality bids and another which has been thrown together with little care? You’re potentially missing out on a lot of business to companies that you are just as good as.
If you’re not sure what you should be included then you can pay to have a few produced that you can use as your basis going forward.
If you’re bidding for a large tender or contract, there are bid writing consultants who will be able to produce the proposal on your behalf.
Not only should they look good but you should include additional information about your company, value points, and case studies.
4. Go digital
The entire industry is moving towards digital platforms to run their business. There isn’t an area of the business that cannot be improved by moving to a digital or automated system. These include:
- Recruitment and HR
- Financial management
- Project management
- Commercial management
- Account management
The costs for adopting new digital technology can be quite high, but the return on investment can be seen rapidly. Don’t try to digitize every aspect of your business all at once, it can be overwhelming to both your budget and your employees. Instead, conduct an internal audit of your systems and figure out which aspect of your business will benefit the most from being digitized. Don’t simply be tempted to go for the easiest project if it is not going to produce measurable improvements.
Many of the digital platforms you might use often have resources and teams that can help you to project manage the internal role out so that you experience minimal downtime.
Make sure you have a point person internally who is managing the rollout on your behalf.
5. Level up your marketing
A well planned comprehensive marketing strategy can launch your company into different markets and attract new customers. A good marketing campaign can encompass a number of different channels including general and local SEO, social media, content marketing, and paid for advertising.
If you don’t have the skills in house, then you can work with a marketing agency or freelancer in order to help you plan and execute your marketing campaign. The results won’t be instant, but as you begin to build the momentum you will start to see progress.
Conclusion
While some areas of the construction industry remain quite resilient, there are other sectors that are more prone to the effects of economic events. Every business owner wants their business to grow and thrive in 2021. In order to do this, you have to focus your efforts on areas that are really going to make a difference to your business this year.
