As the new year starts, we’re being inundated with the usual horror stories about failing economies and collapsing industries, all of which make business owners around the world worry about the future.
But you’ve been working in construction for long enough to know the deal.
The industry is notoriously volatile, with business prospects ebbing and flowing on a weekly, monthly and yearly basis, and there’s absolutely no doubt in your mind that 2017 will be exactly the same.
The trick to surviving whatever ups and downs it throws your way is to focus on the things you can control, instead of allowing anxieties to send you into a panic.
With that in mind, we’re sharing three strategies that will help futureproof and grow your business.
#1: protect yourself.
Forget about dodgy financial predictions and the unstable economy. If you’re not careful, legal issues will quickly become your biggest enemy in 2017. In construction, most of those issues will likely come from the strict health and safety regulations guarding the industry.
There are plenty of clever solutions that will help you stay on the right side of regulations, like loler inspection software that keeps your mandatory equipment examinations timely and your records in order.
For full of peace of mind, submit your sites and staff to regular safety audits to highlight any potential problems waiting in the shadows.
#2: join the digital revolution.
Decades behind everyone else, the construction industry is finally undergoing a digital revolution. New tech is released every day, with virtual reality and 3D-imaging tools creating safer and more productive sites.
Building information modelling (BIM) has to be up there as the most important modern innovation, using digital technologies to make construction projects more collaborative. It’s been around in the US for a few years but the UK government is now starting to take note.
To continue gaining contracts and growing your own business, it’s worth investing in key advancements like BIM. You’ll more than earn back the initial cost as your workload increases.
#3: invest in marketing.
Marketing is essential for growth and development of any business, whether you’re running a shop or building contractors.
Your calendar may be pretty full at the moment but unless you continue putting your name out there and capitalise on your reputation for quality, you’ll struggle to attract new customers.
Start off the year by working on a comprehensive marketing strategy, including boosting your local and online presence. If it sounds like too much extra responsibility, there are plenty of agencies to pick from that will manage the whole process for you.
Do you have any tips or helpful advice for other construction entrepreneurs looking to grow their business in 2017? You can always leave a comment and let us know.