Partner Article

Getting ahead of your Competition

1. Expand your strengths to a higher level

Scrutinize and review the projects in which your company excels. Look for other types of jobs that would benefit from those same strengths. Home remodeling is soaring in most areas. In some regions, healthcare construction is up over 200 percent. Get on at least three new bid lists that are not in your comfort zone.

2. Don’t stop finding new clients Don’t be too picky. Home improvement stores partner with lots of independent contractors—get on their lists. Look at your crew—if they have special skills, leverage them by bidding for something new.

3. A Little More Risk, A Little More Reward Don’t just settle in your comfort zone. Opportunities are everywhere—you just have to go after them. Why not find a great deal on some real estate and fix it up? You can rent it. You can flip it. It all adds to your bottom line and company growth.

4. Engage Employees in Revenue Generation and Cost Reduction Set achievable revenue and cost-reduction targets. Be honest with your team about where you are and where you need to be. Ask for their help. Incent them by allowing them to share in the returns. Your people have good ideas. Make it a regular habit to bring everyone together to share them.

5. Explore New Technologies The world is now run by technology and if you don’t do the same, you will definitely be left behind. There are lots and lots of software that you can use for your own business that can well-organize and well-manage your data and files and model building more easily than by manually doing it. Much more, you might impress more potential customers when you are offering technology-based outputs. Find out how automation and organization can bring new intelligence to your proposals and bids.

This was posted in Bdaily's Members' News section by Mark Paul Lucas .