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  • Writer's pictureYvonne Root

Growth May Not Mean What You Think It Does




I watched the reaction in his eyes and face when I told my friend that one of the criteria our team uses when determining whether we will be able to work with a prospective client is if that prospect is willing to grow. I could tell that my friend felt uneasy with the idea. So, I hastened to add, “Growth may not mean what you think it does.”

 

In the construction business, growth may mean obtaining more projects and hiring more people to complete them successfully. Our team certainly won’t shy away from those construction business owners following that path. But it is not the only way we see our clients grow. Helping our clients run with the big dogs means that we are quite happy to see them grow in a multitude of ways – that may or may not include creating a bigger footprint.  

 

Avoid THWADI

Status quo is Latin for “existing state.” If you want to maintain the status quo, you want to keep things as they are. You may have heard or even said, “That’s how we’ve always done it.” (THWADI) I’m not talking about changing all your systems and procedures. I am talking about being on the lookout for ways to improve everything (which automatically leads to growth) and may include determining why things (including processes) are done a certain way. 

 

Find Comfort in Growth

When you broaden your comfort zone, have a growth mindset, and take steps to improve yourself, your employees, and your construction business, you’ll become more comfortable with the idea and practice of growth.   

 

“In this world, you’re either growing or you’re dying, so get in motion and grow.” Lou Holtz

 

 

Growth Comes in Many Different Forms

Not every construction business owner wants to “grow their business” in conventional terms. For example, some want to grow the size and capability of their business, while others are focused on capability only.

 

Whichever business decision you make, the following lists suggest potential growth options.   

 

Self – Become a better leader.

  • Learn to be more tech-savvy.

  • Communicate better.

  • Learn to set appropriate goals.

  • Improve your unique skills.

  • Develop business and financial literacy.

  • Improve interpersonal skills.

  • Strengthen your problem-solving skills.

  • Learn what drives profitability.

  • Become better at prioritizing.

  • Improve your business instincts.

  • Become more comfortable taking calculated risks.

  • Devise realistic action plans for investments, expansions, and cuts.

  • Improve time management skills.

  • Become better at understanding legal and regulatory compliance.

  • Develop better negotiation competence.

  • Manage the supply chain better.

  • Know KPIs to track and measure growth.

 

Employees – Develop better, more skilled employees.

  • Improve their customer service skills.

  • Teach them to be more comfortable taking calculated risks.

  • Improve interpersonal skills among your employees.

  • Strengthen your employee’s problem-solving skills.

  • Improve safety thinking and awareness of failure points.

  • Lead them to improve their unique expertise.

  • Show employees the path to advancement.

 

Business – Create an improved business presence.

  • Build client and employee confidence.

  • Help clients connect the dots.

  • Motivate and inspire people to rally around your vision.

  • Understand a problem from different angles.

  • Pivot when the market demands.

  • Learn how to meet the needs of your target audience better.

 

And, because we are, after all, The Profit Constructors, one of the areas we expect our clients to grow is that of profitability.

 

Growth is Essential

As you can see, growth will look different for every construction business and each of the individuals involved. And yes, we believe in the trickle-down effect. As you, the construction business owner, grow, so will your employees and your business.

 

Reflection: What do you want your construction business to be known for? When you know the answer, you can better decide how to proceed with strategy, goals, and desired growth outcomes.

 

 

Ambitious Construction Contractors look to The Profit Constructors to provide advocacy in dealing with:

 

  • Clients and customers

  • Employees and subcontractors

  • Vendors and service providers

  • Governmental entities

 

Working with The Profit Constructors gives Construction Contractors the means to organize their operations in ways that help them:

 

  • Remain informed

  • Avoid hassles

  • Reduce risks

  • Be future-ready

 

Ready for action? Or want to know more? Get in touch today to schedule a complimentary discovery call. 866-629-7735

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