When people think of the Internet of Things (the IoT) and how it’s transforming industries, many people think of retail, manufacturing, and other jobs that heavily rely on computers and technology. Few people think about the construction industry.
Every year, there are new trends that appear in the construction industry, and 2019 will be no exception. Many construction company owners have already been looking back at 2018 to try and determine what trends will rise this year.
In recent years, the construction industry has grown, and with this growth comes the demand for more skilled employees. Unfortunately, the number of qualified applicants hasn’t increased to meet this demand, leaving many construction crews shorthanded.
When it comes to growing your construction company, you have two choices: keep on doing what you’re doing and hope that you can expand, or craft a plan for growing your business through strategic objectives.
The summer is often the busiest season for trade companies, including construction businesses. The longer days and nice weather mean that projects are usually moving at full speed, and in many parts of the country, there’s nothing to slow down work like there is in the winter.
Marketing is a key part of running a construction company, even though it may be one of the tasks people rarely associate with the industry. Unfortunately, the truth of the matter is that every business, no matter what it does, must have a well-planned and executed marketing campaign in order to remain competitive.
As a construction company, you’re always lining up new projects to work on once your current ones are finished. That’s why generating new leads is important.
Every construction owner strives for winning more jobs with the highest margins possible. Unfortunately, many contractors are busy working on building projects and often put sales as their second priority. While many contractors fail to realize is that a steady sales pipeline and more profitable work require you to make a commitment to working on sales related tasks.
Your construction team is up against a firm deadline, and you’ve got several full days of work in store to stay on track. When your team arrives at the construction site in the morning ready to get started, you discover that several of your most valuable, essential pieces of equipment have been stolen.
When calculating the cost of a piece of equipment, you have to take into account more than just its purchase price. This is just one component of that equipment’s overall lifecycle cost. You also need to consider the cost of fuel and other liquids, the cost of repairs, and any maintenance costs.