There are many facets associated with running a building business. Of course, you need to track your costs, materials, expenses, and avoid shortages.
In order to keep finances in line, it is important to maintain a positive cash flow. When your business has a positive cash flow, it is running smoothly. Use these 9 tips to find out how.
The old way of reaching out to prospects and promoting your business is no longer effective. Customers have gotten better at tuning out sales messages. They use TiVo to skip through commercials and ad blockers to block brand messages.
You probably understand the importance of driving qualified traffic to your construction business, but how can you ensure that the people who land on your page are qualified and not just fly-by visitors who waste your resources and increase your bounce rate?
Perhaps the biggest mystery in entrepreneurship is why some of the businesses that seem to do everything right still fail.
In the construction industry, the prospects are even grimmer than in others. Although the market has made an impressive recovery since the 2008 financial crisis, most companies still find it difficult to appropriately scale and succeed. In fact, reports show that only 47% are still operating after four years.
Earlier this year, the Construction Marketing Association asked how construction professionals nationwide had planned their marketing budgets for 2017. In response, 96.4% of them said that they want to increase their marketing efforts, and a vast majority stated that they planned to boost investments in their online presence.
What do a painting company and home building business have in common?
They both strive to help people turn their homes into a beautiful oasis they can’t wait to return to after a long day at the office.
When you know a trade extremely well and have made a name for yourself, the next logical step is to take matters into your hands and launch your business.
That’s easier said than done.
Here’s the hard truth; there is no startup fairy who will sprinkle magical dust on your small business and ensure its success. Building and growing your construction company takes hard work, focus, persistence, and the power to continue when everything seems to be crumbling around you.
In today’s overly competitive business environment, innovation is what keeps a company ahead of the competition. But, having an ingenious idea for a product or service isn’t enough if you don’t have the proper infrastructure to support it.
Over the past two years, the number of jobs in the construction industry has increased by at least 20,000 a month, which means that just last year alone, about 300,000 new positions were created. In spite of these promising statistics, contractors often complain about the shortage of skilled workers and the effects this has on their businesses.
Construction is currently one of the world’s fastest-growing industries. According to one study, the volume of construction output will increase by 85% by 2030, reaching a staggering $15.5 trillion. In other words, the construction industry will account for close to 60% of all global growth.