5 Post-COVID Success Tips for Construction Companies
Are you looking for ways to streamline your construction company’s operations in a post-covid world? Are you on the search for success tips that you can use when the pandemic starts to calm down?
If so, then you need to learn all that you can about how to get a step in front of other construction companies. Preparing yourself for the post-covid world will help make your company more efficient than others in the construction industry.
See below for an in-depth guide offering you advice on everything from project management hacks to construction site tips to consider in a post-pandemic business world.
1. Invest in a Cloud ERP
If you’ve never heard the term explained before, ERP stands for enterprise resource planning.
It is a type of software that construction companies (and others) invest in and use to enhance their company’s business operations. It oversees virtually any area of the business that you’d like, such as:
- Supply Chain Management
- Legal Compliance
- Risk Assessment
- Procurement & more
So many in the construction industry see the value in a cloud ERP implementation for their business. However, many make the mistake of purchasing the first one they see without looking into the details of it.
A true cloud ERP solution like Acumatica Construction Edition has proven to stimulate growth and generate long-lasting ROI for many in the industry. It’s a cloud ERP software that was designed with construction companies in mind. It helps your financial managers to make an informed decision such as:
- How to reduce financial consolidation
- Track costs and productivity
- Troubleshoot gaps and needs in your business operations
- Gain access to real-time financial and operational data
What good is an ERP if it gives you operational data a day later than you need it? Sage Intacct gives you insight and analytics up to the second. Invest in this industry-leading ERP and you’ll be on your way to new heights!
2. Always Prioritize Workplace Safety
If the 2020 pandemic showed us anything, it’s that workplace accidents aren’t the only thing risking the safety of you and your staff. Sometimes it’s the unseen aspects of the job that can cause the most damage.
First off, if you don’t currently have a workplace safety program in place, that needs to be your primary area of focus.
Assuming you do, then there needs to be a few additions made to that program for a post-covid world. The Centers for Disease Control and Prevention (CDC) has given a few guidelines to help you get things in the right direction.
- Work out safety requirements with your company’s clients moving forward. Make sure that the details are hammered out within each contract.
- Focus on limiting the number of workers and subcontractors on the site at any given time. Try to schedule one subcontractor on-site for each time slot. This will also hold more accountability to the subcontractor to get the job done.
- Research and understand the Families First Coronavirus Response Act. Know it and apply it to your company’s sick leave policies.
As you can see, the workplace safety protocols will likely experience the biggest shift in your company’s post-covid operations. Let them be the nucleus for how you conduct business moving forward.
3. Revise Your Business Plan
When is the last time you took a gander at your company’s visit plan? The Small Business Alliance (SBA) recommends that you review and revise your business plan at least once a year.
Yet many construction companies never give it a second look after their initial launch.
Do you want to get a step ahead of all others in the construction industry? Review and revise your business plan. Think of it as a total restart for your business. Your construction company gets the chance to start all over as if it were launching for the very first time.
What new priorities do you have? How will you adjust your day-to-day business operations to ensure that you’re practicing safe protocols? How can that benefit your clients and separate you from other companies in the area?
4. Focus on Diversifying Your Portfolio
With the way the market is trending, your company might experience an influx of competition when bidding for contracts. If your construction company doesn’t have experience in the sector that’s offering work, it could limit your projects.
Start by gathering your focus group together and researching a few different sectors that you think will be a hot commodity over the next few years.
Adjust your business plan to put more effort into those sectors. What does your company need to advance? How can it build a presence in that sector without lowballing on offers?
5. Focus on Your Network
For so long, your company has likely prioritized growing your network and creating as big a pond as you can for generating leads.
Now is the time to nurture, not grow, the network you have. These days, clients are looking for trustworthiness and safety more than ever before.
Utilizing your network will give you an in with the companies you’ve already established a reputation with. You can also use them to ask for referrals and build your portfolio that way as well.
Use These Success Tips to Your Advantage
Now that you have seen all of the different success tips to use in a post-covid world, be sure to start with step one.
Also, read this article for more information on why construction companies are moving to the cloud in 2021.
For more inquiries, please feel free to reach out to us either by phone at 800-458-7369 or by email at email@example.com and we’ll be happy to assist you further!