The coronavirus pandemic is a first. From the government to businesses to every single person on this planet, we’re all learning how to navigate this “new normal” together. As states start to reopen and life starts to move forward, the construction industry is beginning to return to pre-coronavirus levels in many areas of the county. Building on this momentum will help your company recover from the tumultuous last few months, but it can also help you get ahead as we continue to move forward.
Reevaluate Your Business Plan
If there’s anything coronavirus has taught us, it’s the need to be flexible. Take a second (and third, and fourth) look at your business plan. What’s your mission statement? Does it still hold as true now as it did when it was first written? It’s time to evaluate the success of your current plan.
Evaluate the foundations that your business was built on and see what needs to be adjusted.
- Are there new areas of opportunity?
- Do you have new goals?
- Does your mission statement still hold?
- Are there new systems/processes that have to be documented into your current operations?
Using this time to create a new path forward that incorporates your vision and new “learnings” will allow you to realign your daily work with your long-term goals.
Streamline the Process
Almost every business is guilty of having inefficient processes simply because “that’s how it’s always been done.” Evaluate your business practices to see what processes can be streamlined. Not only is this an effective short-term tactic that can help during these lean times, streamlining helps you become a more efficient and, as a result, more profitable business in the long term.
Every department, from inventory to project management, payroll, and even the technology you use, impacts your bottom line. Talk with your team in these departments; they most likely already have an idea of how their department can be made more efficient. Then, develop a new plan of operation. Incorporate your employee’s feedback when recalibrating how you operate; this will help your employees view streamlining as a welcome change, rather than a disruption to their workflow.
Networking
Networking is hailed as one of the most important tools for growing a construction business, yet it often takes a backseat. Use this downtime to reach out to your network. You never know where a business opportunity lies. Networking can be as simple as sending an email to check in on how they are doing, offering helpful resources on your website, or engaging on social media. Let your network know that you’re there for them during these trying times. This also includes your trade partners.
Keep Marketing
When times are tough, marketing is often the first to go. However, marketing is what puts your company at the forefront of consumer’s minds, and is the fuel for your company. Now is a great time to evaluate your current marketing efforts. Is your website outdated? Is the call to action easy to find? When is the last time you posted to social media? Are you actively letting consumers know what steps you are taking to protect yourself, your employees, and your customers during these times? Are you writing and posting blogs consistently? How much effort have you put into cultivating your Google Reviews?
Reevaluate your marketing strategy; don’t eliminate it. Establishing yourself as a thought leader in the industry can help increase your name recognition and make sure that your company is front-of-mind. As the saying goes, out of sight, out of mind. Simply staying active and continuing your marketing efforts can keep your company front and center.
By evaluating your business practices, you can help your company continue to move forward. During these times, it’s important to work with a partner who can support your business’s needs. At Small Business Growth Partners, we help your organization embrace the future through a strategic approach to creating a consistent, organized and systems driven company, with full team inclusion. We pride ourselves on being the world’s most effective private coaching firm that specializes in assisting builders, remodelers and trade companies, and are honored to be the most trusted coaching company of the U.S. Home Building Associations. To learn more about our services, request some free information on our BPA process.
