- 21 December 2022
10 Tips to Refresh or Start Fresh in Construction
5 minute read
Getting your business set for success in the new year
With 2023 around the corner, plenty of you might be thinking about new resolutions and opportunities. But what about a new business, or taking your current business to a new level?
If you’re at the point of making some improvements or starting out on your own, now is a good time to find out how others have made the same move – and let’s be honest, the mistakes they’ve made as well.
So, we’ve pulled together our 10 top tips and tricks to implement, helping you build a successful business in construction. Let’s do this.
Tip #1: Get licenced BEFORE you get going
It’s against the law in most states and territories to do unlicenced construction work, and it’s going to be a barrier to getting new projects. If you were choosing between a fully-licenced business and one that wasn’t, which would you go with?
Tip #2: Business insurance is your best friend
Being fully covered is another big plus for potential clients, so it’s a good idea to chat with a qualified insurance broker. They’ll know what kind of coverage you’ll need, plus help with compulsory Government cover and finding the best deal to save you money.
Tip #3: Quality over quantity… and everything else
While building a lot might seem more profitable at a glance, quality will be the foundation of success long-term. Stick to your values, hire skilled and experienced workers and try not to cut corners on the quality of materials, and your reputation will build itself.
Tip #4: Don’t just find staff – find the RIGHT staff
Taking the time to find quality staff will improve the quality of your work and reputation. Plus, skilled workers save money by knowing what materials they need and how to use them, so don’t be afraid to turn someone down if they’re just not right for your goals or culture.
Tip #5: Manage your contractors smartly
Contractors will usually require some extra oversight in efficiency and quality to ensure they’re the right choice for your project. But, treating them well and building a good relationship matters – that way good people will be happy to work with you again.
Tip #6: Find your niche, then partner up
Know the saying “Jack of all trades, master of none”? Rather than trying to be everything to every client, find your area of expertise. Once you’ve built your reputation, partner and refer to other trade and construction businesses to work together or pass around leads.
Tip #7: Get the word out to the right people
You’ll probably need to invest in getting your name out sometimes, especially as a new business. Advertising on social media has never been more accessible or targeted, and when a lead comes, free quotes can be a great way to attract new clients. Plus, don’t underestimate word of mouth - slower, but often very effective.
Tip #8: Think financially about your next 5 years
Think about your goals for the next few years, then put the systems in place to manage it day to day. Find the right accounting software to track your finances, invoicing and payroll, and ask an accountant about any specific requirements that might apply to your business.
Tip #9: Think practically about your next 5 years
Building a useful business model also comes down to things like staffing, machinery, equipment and marketing. Get the training for your staff to upskill towards your goals, budget for maintenance or bringing in new tools, and ensure your business keeps to a consistent process to keep jobs running smoothly.
Tip #10: Plan to be proactive, not reactive
Related to the previous two tips: plan ahead and avoid reacting emotionally when you can. Owners are naturally invested in what they do, but as the last few years have shown, construction is often volatile. Be as ready as you can, and face both success and setbacks with a calm, practical approach.
