According to CMD, the US Construction industry will see a 6.5% growth in 2016. This growth rate would effectively bring the total for the calendar year to $560 billion. A lot of this based on non-residential, with things like increased wage and employment growth, a recovering economy, and a greater focus on infrastructure as some of the reasons for this steep increase.
Non-residential has been up and down, but really we’ve seen strong growth from residential construction work in the last few years. This year should be another strong one for all walks, but residential will see yet another year of strong growth.
Be Prepared To Expand With The Growth
All of this boils down some pretty good stuff, but that also means construction companies have to be ready to stretch along with the growth. It doesn’t matter how much air is available to put into a balloon, it only matters that the balloon is able to hold all that air.
If your company isn’t ready to expand and take on this growth with agility, you’ll either pop, deflate, or things will just get packed with no benefits to offset the negatives.
Listen, if you’re not using some kind of software to help you manage your sales and production pipelines, then you’re not ready, you’re doing it wrong, and it’s not going to last you.
Improving Your Elasticity
While there are some business techniques you can use to improve your business’s elasticity, we’ll leave those to the business consulting professionals. What we do here is something you don’t need a consultant for, but it’s something that can dramatically affect your business’s performance and keep your whole team together.
Sales and production management, built into one powerful software that gives you access on the web or on the go, is what will help you manage all the increase you’ll have across your myriad departments.
If you’re tracking things right now with Excel, for example, you have several roadblocks that keep you from being efficient:
- Lead tracking is repetitive and faceless.
- Once a lead is in Excel it stays in Excel and can’t easily go anywhere else.
- Your Excel doesn’t always go with you and isn’t always convenient to handle on mobile.
- You’re missing out on the scheduling, collaboration, and all-around project management of it all.
There are workarounds for a lot of this stuff, but the real crux of the issue is that this isn’t a scalable way of handling leads and jobs and, when you get swamped with new leads, there’s no failsafe in place to be able to handle the influx.
If you have CRM and project management software on hand:
- Lead entry is streamlined and computer-assisted.
- Assignments are immediately sent to the right person to get started right away, no extra steps.
- Other automated rules can be put in place to get you out of the CRM and back to business.
- Leads can go through your customized process on an interactive board to get a way better picture of where everyone is at in the pipeline.
- Jobs can have the same interactive digital whiteboard to track statuses and follow up.
- Everyone has access to their assignments, lead info, work orders, and more using the mobile app.
- You can report on everything after the fact to know exactly how your company did during the busy season and after all this growth.
This is just a taste, but you get the idea.
The name of the game is scale and getting your company ready to do it. If the lead volume is set to increase, that filters down into every corner of your business, just like air in a balloon. If you’re not able to suck it up, you’ll pop and it’s hard to pick up the pieces.
Don’t Wait Until It’s Too Late
When you’re in the thick of growth, it’s too not too late to make a course correction (it’s never too late), but it can be very hard.
Trying to pivot, get a software set up, understand it, get your team trained and motivated to use it, and working out all the kinks during growth is a very, very tall order. We wouldn’t wish it on anyone.
But sometimes it’s the only way to get back up to speed with the way things need to be in order to catch the wave and experience the growth without collapsing.
So before this year really starts up, it’s time you seriously considered getting some software to manage all the new growth you’re about to get and then get the most out of it.
It’s Now Or Never-ish
It’s time to get started on your way to protecting your company and capitalizing on the growth this year will provide. It’s feast or famine and right now the feast is on its way and if you’re not ready it’ll be famine.