Contracting companies in the construction industry tend to operate with smaller profit margins than companies in other industries, so putting money into growth initiatives can be tricky. In particular, you want to ensure that you’re getting a good return from every expenditure that you make building up your operational infrastructure and resources. Here are three tactics for expanding your business cost-efficiently.
1. Expedite Project Completion By Improving Waste Management
As a professional contractor, you already have practical insight into the importance of maintaining a good balance between all of the work that goes into getting more projects and the work that goes into completing the projects that you’ve already gotten. While you look for new clients, you have to remain steadfast in your commitment to your existing clients. Taking a few proactive steps to fastrack completion could help you free up more time to focus on marketing activities and preparing proposals. A new approach to waste disposal might help you work more quickly and manage deadlines for completion better.
When you need a dumpster rental Easton, reach out to a company that will drop a container off directly at your jobsite and pick it up when you’re finished using it. Arranging for a dropoff and pickup can save you a lot of time, and it could also help to keep completion dates on target. When a dumpster is nearly full, you can coordinate a swap so you’ll have ready access to a receptacle throughout your project completion, and you won’t have to worry about overflow or taking care of disposal before you can continue work.
2. Revamp Your Website
A lot of people are going to form their first impression of your company based on the caliber of your website’s design. If anything about visitors’ experience using your site doesn’t pass muster, it could prompt people to automatically rule out the possibility of doing business with you. A poorly managed site is going to lead them to conclude that your company isn’t well managed. If you can’t take care of your own website, businesses just won’t feel comfortable about putting reliance on your company to handle a major construction or renovation project.
Work with an experienced web design service provider. Speed and navigability have to be your top priorities. Consider using a template that you can customize with your company’s information. Build your SEO objectives into your web design process by integrating targeted keywords into your site’s layout. You might also be able to boost your web traffic by expanding your presence on third-party directories. Describe your services and qualifications in detail so people won’t have any doubts about your company’s ability to take on a large scope of work.
3. Engage More Businesses
In the construction industry, it is a good practice to pursue leads for projects from a variety of sources. Focusing too much on residential construction projects with individual homeowners might be holding you back from the most lucrative projects that you could be doing. Try engaging developers, property management companies, and other commercial customers. Establishing a positive working relationship with a professional business by completing one project for it could lead to many more projects in the future.
Rather than waiting for businesses to come to you, you should be reaching out to them. Identify which businesses you’re interested in working with by procuring call-lists from sales support service providers who can offer you customized lists of leads based. You can try targeting businesses in specific fields or areas. Alternatively, you could search business directories to generate call lists. Also, you could search states’ corporate registries for contact information. One notable advantage of this approach is that it will provide you with information about which people within a company you should work on engaging. Business’ annual reports will identify officers and directors, and they’re probably going to be the decision-makers about which companies to retain for construction projects.
Ultimately, growth initiatives could make a modest margin more profitable. Getting more clients and generating more revenue will help you manage your operational expenses more proficiently.
