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From Builder To Business Owner: 5 Skills That You’ll Need



By Business Desk



Thursday, June 28, 2018.



After years of working in construction, you may feel ready to start a business of your own. There have been several sites where you would’ve done things better. Similarly, the promise of running a small company in a lucrative field can be very attractive. Before jumping straight at the deep end, however, you must confirm that this is the right route for you.

 

Building a successful firm requires several key attributes. Here are five that you simply cannot ignore.

 

Leadership  

Trying to do everything yourself would result in very slow progress. In fact, many tasks would be simply impossible. Therefore, recruiting a small team of reliable workers is essential. Meanwhile, you should know from your own experiences that those workers have more talent that they are often allowed to show. Empower your team in every sense of the word, and productivity levels will soar. Better still, a happier team is likely to work harder and pass that positivity onto the clients.

 

Without proper leadership, the harsh reality is that the shortcomings of the team will come back to haunt the entire business. Unhappy clients will seek refunds for delays and inadequate work while poor reviews will soon harm your hopes of finding new clients. Aside from keeping the team on track, you should also aim to lead by example. A good work ethic is contagious.


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Responsibility  

One of the main things to remember when making the transition to business owner is that you are the one that’s liable. Skipping risk assessments and precautionary measures is never an option. Even if old employers did this regularly.  Construction liability insurance is an essential item as not having it could mean that one bad moment ruins the entire venture. Likewise, ensuring all workers operate safely and avoiding theft from the sites is essential.   

 

Above all else, you need to take financial responsibility. From finding the best rates on equipment and materials to setting the right service costs, all items should promote profits. Sadly, if you’re not making money, the venture will be destined for failure. And that’s regardless of the professionalism and quality provided throughout your projects.

 

Understanding   

Knowing your place in the market is vital for all business owners. When operating in this industry, you need to appreciate your audience and the type of projects that you specialise in. It’s difficult to cover all aspects of the building sector. Whether you’re a roofing company, scaffolding provider, land surveyor or something else is up to you. Whatever the choice, however, it’s imperative that you understand your niche. Without it, you run the risk of being far too broad.

 

This understanding can influence everything from your purchasing decisions to marketing endeavours. Having a distinct place in the market will enable you to gain a stronger reputation and build a rapport with clients. From the first interaction to closing the deals, the entire process will see major improvements.


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Vision   

A lot of clients will contact you with a basic concept but very little in the way of a concrete vision. Therefore, having the ability to see the potential of a site is essential. This shouldn’t be limited to the structural elements of a project either. Thinking about the interior design is an equally important factor as this is what homeowners and business owners want. If you can take some of the stress off of their shoulders by helping them through this process, they’ll be more likely to use you.

 

However, it’s imperative that you know how to sell the vision too. Merely explaining the options isn’t enough. Actively highlighting the ways in which the works will improve their lives or businesses is crucial. In most cases, this will be the factor that turns interest into confirmed projects. Given that you’ve achieved nothing without closing the deal, this step is pivotal.

 

Restraint   

It may seem a little counterproductive, but learning to turn projects down may be your greatest asset of all. Ultimately, each worker can only be in one place at once, so choosing the most profitable projects is vital. There are many factors to consider in this process, including travel times and the duration of the work. Consistency is the key, and even turning down a day or two of work to accommodate a bigger project may be required.

 

As the company gets bigger, it may be possible to take on more staff and handle a greater number of projects. If some employees are dedicated solely to providing quotes, make sure that they travel between jobs most efficiently. Without that sense of organisation, profits will slowly but surely get eaten. Conversely, when you maximise your time and assets, success is virtually assured.



From Builder To Business Owner: 5 Skills That You’ll Need

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