How a Small Construction Company Can Compete In their Industry
In construction, competition is tight and can pose challenges for smaller companies. As a smaller business, you can see it as understaffed or having less to work with, or you can view it as having more room for opportunity. The latter will keep you level-headed for the future.
Although larger businesses may have more resources or an established presence within the industry, there are opportunities for your construction company to come in and provide more specialized care. Believe it or not, smaller businesses can win clients in ways that their larger counterparts cannot, like simplified customer service, flexible pricing, and streamlined growth.
As a smaller business, you may want to consider ways to finance your equipment. Here’s a blog on how to do so as an American business.
Go Flexible with Your Pricing and Services
As larger construction companies deal with more clients, they tend to be strict with their pricing out of respect for their clientele. Since your construction company is smaller, you can provide flexibly reasonable rates and service packages to different clients. Doing so will earn you points both as a businessperson and a collaborator.
Focus on the Growth of Your Team
With more time to collaborate, you can create specialized training for leadership and management teams. Get the foundation built so trainees can become trainers. Larger companies can also provide training for their team, but they are not always successful in inclusion and cooperation. Since your team is smaller, you can create a rapport amongst the crew and build a strong line of communication.
You Need Tech and Construction Machinery Specialists
Because of technology, you need to be ready to provide answers. You need a tech specialist knowledgeable in the functionality and programming of industrial machinery. Having someone to rely on gives you the space and openness to focus on leadership.
Track, Review, and Report on Your Work
Although it may feel daunting or tedious, you should consider directing your team to roughly log their daily hours to tasks to give you a clearer idea of where everyone’s time is going. You can also strategize ways to improve efficiency at the macro level. Once you’ve strategized ways to improve such, you can enact training initiatives that move the team forward. For a more significant business, tracking, reviewing, and reporting may become more difficult as a task because of the number of builders that will then need the training to improve their functionality.
Make Quick Decisions Wherever You Have To
What may seem like a dangerous idea is not, especially for smaller businesses. As a leader, making quicker decisions on your feet won’t significantly impact your smaller team, whereas it may set off quite a major ripple effect for a larger group.
Whether you’re speaking to a client and providing an additional service at a discounted rate or changing shifts around for a few team members, not much conversation will need to be had. Sometimes you have to consider efficiency and get the task done as soon as possible without risking quality. If you have to offer a discounted rate, do so with caution and foresight into the retention of your client.
As a smaller construction company, you’re going to go up against some stiff competition in the industry. Growth will always be in your foresight, as it should be. But consider the benefits of being a smaller team and driving business using your size as a weapon.
Whether it's streamlined services, quicker training, simplified communication, or more thorough operations, your construction company poses benefits that your larger competitors do not. Utilize these strengths to drive your business forward. After all, efficiency isn’t dependent on the construction company size.