A construction business, if you get it right, can be one of the most reliable and consistent sources of business income you’ll ever manage. There is always going to be a need for development, and whether it’s new buildings going up or old ones needing a substantial overhaul, becoming a trusted contractor can be a path to a fortune. The catch is, of course, that it’s tough to become established – and it’s that hurdle that we’re going to look at in this article.
Finding your zone
Construction is one of those businesses where the jobs come to you – you won’t get very far going door-to-door and asking people if they want a tower block built somewhere. Either you’ll be sounded out for a job, or you’ll tender for it when a local developer or business wants a project carried out for a specific purpose. So you will need to be operating somewhere that’s prime for development. See where urban regeneration is being promised or begun, and get yourself into that market. It’s also worth establishing a niche for yourself: do you want to get into office buildings or commercial stores? Mastering that niche can be your toe-hold in the industry.
Hire professionals and keep them trained up
As a contractor, you’ll aim to complete jobs on time and under budget – but speed and cost will in the long term take a back seat to quality. While you may be tempted to undercut your opposition by offering a quick turnaround or a basement price, quality tells – especially on a safety front – and so you should be aiming to hire professionals with a proven track record. You should also look into the likes of Kallibr funding to ensure that your employees have the most recent, relevant training in the sector. A knowledgeable workforce will get repeat business and generate word of mouth advertising for your company.
Be on site
As the head of the company, you may well leave the day-to-day work in the hands of foremen and team leaders, but customers will have spoken to you when arranging the job. They’ll expect to see you at the site when the work is being done, because when it comes right down to it, you’re the face of the project as far as they’re concerned. This doesn’t mean you have to be on the scene 24/7 – if things are going right, you’ll have more than one project being worked on anyway – but you do need to show your face regularly and be able to get there if your presence is requested. You should also have a second-in-command who can answer any questions in your stead and explain your schedule to customers.
Every construction company has its first project, and even if you have hired an experienced and skillful team, there is the capacity for errors to be made. For this reason, you should be present on site from the beginning of the first project until it is well on its way to completion. A key reason for this is that you will need to see what is going on, and inevitably what mistakes get made – so you can learn and ensure they don’t get made again. On later jobs, you will be able to be more hands-off, but you’ll still need to be around more in the early days. The faster you learn, the sooner you’ll develop a bullet-proof reputation.