If you’re running a construction company in 2024, you’ll know that there are many avenues that you can take advantage of when it comes to expanding your company. Since the pandemic, the construction industry has had a huge boom – which means that there are many opportunities for you to take your company to the next level. Here are 7 key ways that you can take your construction company to the next level, and grow your company by 2025.
Find Profitable Niches
One of the best things you can do to take your construction company to the next level is to find the most profitable niches within the construction industry. For example, student housing is some of the most lucrative work that construction companies can find. This is because student housing always needs to be built, and as more universities and educational institutions pop up, will continue to be profitable. Luxury housing and commercial property can also be lucrative, so you might want to consider these as well – finding profitable and ambitious niches is something that will help you put your company on the map.
Invest In Your Staff
By far, the best thing you can do for your staff is to invest in their skills and education. In the construction industry, many people learn how to fulfil their occupational roles by learning on the job – and this has been the common way for many years. However, recently, it has become increasingly important for construction workers to get their qualifications so that they can prove competency in their occupational role. Investing in construction NVQs for your staff is one of the best ways to prove their skills and help them advance their careers, which could get you more work.
Have A Great Office Team
Many people overlook the importance of having a fantastic office team when it comes to the world of construction, but they are ultimately very important to the growth of your company. A good office team will help you with scheduling, organisation, keeping records for your staff, as well as helping with marketing and advertising. Having great admin, finance, and general office staff is essential for the future success of your construction company – so make sure that you’re choosing the right people for the office team who will make your company grow!
Invest In Marketing
One of the best things you can do for your company is to invest in your marketing plan. To find construction companies, very few people look at the yellow pages anymore. Marketing should be essential, especially social media marketing. Having a social media presence for your business is one of the best things you can do if you want to get more customers and direct more people to your business. Social media can be very useful as it acts as a digital portfolio for your business, displaying the best of your work and showing off your contracts. Investing in good marketing is one of the best things to do if you want to expand your customer base.
Embrace Technology
The biggest mistake that you can make for your construction business is to neglect modern technology. Many people have very traditional views when it comes to technology, especially in the construction industry which is one of the longest standing industries in the world. However, it’s important to embrace modern technology if you want to make your company stand out and gain more lucrative, ambitious contracts. Paying attention to modern technological developments in the industry is one of the best things you can do if you want to grow and develop.
Put Together A Portfolio
Having a digital portfolio through social media is a great idea in terms of marketing, but you should also be putting together a physical portfolio to show what your company can do. Using images, video and graphic design can really go a long way when it comes to showing what your business can do and the sorts of contracts that you’re involved with. You can also show this portfolio to prospective clients, and to get big contracts in your local area – work with a professional to put together an amazing portfolio today.
Embrace The Green Economy
In recent years, preparing for the green economy has become more prevalent for construction companies – the world of sustainable construction is coming, and you should be preparing your company for it. Because of net zero and the Paris Climate Agreement, promoting energy-efficiency is more important than ever before. This means that investing in green skills training, retrofit training, and sustainable construction qualifications will become essential if you want to get your company working in the green economy. Most construction work will involve the green economy in some way over the next couple of decades, so you need to start preparing your company for the change.