Insider tips to growing your construction business in 2018

As fall weather approaches and your construction projects begin to slow down for the season, have you given any solid thought into how you’re going to grow your construction business in the next year? The quiet parts of the fall and winter are great times to strategize, upgrade and prepare for next year’s busy season, allowing you to put the plans in place that you’ll need to see strong growth. Here’s a quick look at some insider tips to help you grow your company next year.

Insider tips to growing your construction business in 2019

• Go digital. If you’re still performing takeoffs like it’s 1999, it’s time to make a change. Modern construction estimating software provides you with a wide range of tools, including cloud access in the field, task lists for your crew, options to create field notes to avoid errors and pricing databases that are automatically updated. Look for a software as a service option to avoid having to make a big investment.
• Keep up with automation. Many of today’s software options have opportunities to automate your workflow. Your estimates can automatically be synced with your accounting software, while marketing emails, billing reminders and similar tasks that have been labor-intensive in the past now happen automatically.
• Add smart tools. If you’re like many contractors, you’ve probably had issues with materials walking off, tools disappearing and similar issues. Fortunately, there are easier ways to keep track of your business assets on the job site without having to hire security. Consider tools that have digital fences, Bluetooth tags or inexpensive job site cameras to stay on top of these type of issues.
• Expand your digital marketing efforts. Digitization is causing a huge upheaval in our society and how we do business. If your website is lackluster, your social media marketing needs work or you’re not sure how to reach out to all those people searching for contractors on Google, this is a great time to jump on the bandwagon and gain market share over companies that are still behind the trend.
• Update old equipment. Whether it’s that old backhoe that is on its last legs or the contractor’s saw that just isn’t performing up to specs, you can only work as effectively as the equipment you use. Consider taking out a loan for equipment that helps you get the job done more quickly, more effectively or with less waste.
• Look into new markets. Renewable energy systems are a great option to consider for electricians, as they’re seeing serious growth year over year and are projected to continue for decades. What about super-efficient insulation or wall systems? Do you need to look at new options to take advantage of structured cabling upgrades in the next few years?
• Go green. Green technology and materials are hot right now, whether you’re working on a LEED-certified structure or simply need the best price on recycled vinyl siding. As the focus on sustainability grows, the demand for contractors who are already familiar with green technology will grow.

By implementing a few of these tips into your plans for next year, you can quickly realize growth and take advantage of favorable market conditions without taking time from your busy schedule as things begin to ramp up again next spring. If you’re ready to grow your construction business this year, it’s time to talk to Capstone Corporate Funding today to get started on a low-cost loan or other financing option. Take a look at our many construction financing options and discover what the future holds for your company’s prospects.