7 Ways to Distinguish Your Construction Company From the Crowd (And Make a Lot of Money) I Ep. 47

    

There are three million construction companies in the United States. Listen to this episode and learn 7 ways to set yourself apart and build a great business. 

Highlights Include:

  • My attempt to distinguish myself at a traditional English public school
  • 7 ways to distinguish yourself: 
    1. Pursue Niche Work at Which You are Excellent and Profitable 
    2. Deal with clients you know well
    3. Work with project partners that you trust 
    4. Maintain high quality efficient construction work 
    5. Emphasize and Demand safety 
    6. Insist on timely payments for all dollars earned 
    7. Have a financial cushion to weather bad times 
  • What is a niche, and why it’s important 
  • How to get to know people by committing to long term relationships 
  • How to give and build trust with your project partners
  • How to improve processes so that you can maintain high quality work
  • Why a strong safety culture is vital, and how to make sure safety is prioritized 
  • How to get paid for what you’ve earned by being a “nice squeaky wheel”
  • The secret to getting through the next recession: 
    1. Low Overhead 
    2. Stay Humble
    3. It’s not what you make, it’s what you keep

Action Items: 

  • Prioritize, in order of importance, the list of the seven ways to distinguish yourself.
  • Pick the most important way. 
  • Ask:  
    • What’s working 
    • What’s not working 
    • In what specific ways can we improve? 
  • Spend 90 days working on the one that you pick and see how much progress you make. 
  • After 90 days move on to the next most important on the list

Learn how to clarify your niche: Click this link to download the Target Market Analysis tool 

Read a great book: The Construction MBA: Practical Approaches to Construction Contracting, by Matt Stevens Listen to a great song: The Headmaster Ritual by the Smiths

Podcast Reviews

Why the Construction Industry is Foundational to the Success of California | Ep 12

Malard

How to Win the Battle Against Silos | Ep 19

Pat, Glad you enjoyed it. I appreciate the feedback. I'll have some more episodes in the same vein, coming soon. Eric

How to Win the Battle Against Silos | Ep 19

Eric, really enjoyed this podcast. Extreme Leadership is one of my favorite business books. Nice to see that you are incorporating some of their leadership strategies into your podcasts.

Connect with me!

FREE Downloadable Resource:
Construction Leaders Dashboard

Do you lack focus and forward momentum? The Construction Leaders Dashboard is a simple, powerful tool for construction company leaders. Use it to clarify what you need to do in order to succeed. It includes: Vision, Mission, Values, Edge, Intitiatives, Metrics, Key Relationships,
and Development Opportunities.

To get your copy of the dashboard, click this link