Are you looking to increase your level of success as a builder? As a design and engineering consultancy, we work closely with builders and have seen the combination of technical skills, business acumen, and construction processes that sets the most successful in the industry apart. Here are six smart strategies to help you succeed as the new financial year rolls in.
Estimate accurately
Getting the cost estimations right can make or break your profitability, whether a project is big or small. Even if your system is robust, the market is constantly moving, and costs can significantly impact your estimates. This is the critical business part of building, and it’s in this pre-construction phase that the project needs to get off on the right foot. Working with suppliers and consultants who can leverage BIM technology is a smart move to tighten up your material and project estimates, minimising wastage and maximising profits well before you pour the slab.
Manage costs
Beyond the estimations, the most successful builders are experts at managing costs at every step of the process. When costs are blowing out in pre-construction it is difficult to claw back profitability. It’s important to work with consultants who are clear and transparent on costs and can facilitate cost management for you throughout a project through technology such as BIM, along with their experience in finding solutions that meet your targets.
Maximise efficiency
Time is money, and the back-and-forth between builders, consultants, clients, and councils can affect project timelines and budgets.
Efficiency comes from repeatable processes that you can rely on and follow to save time and money.
Creating solid partnerships with consultants who get to know your business, types of projects, and the outcomes required and can offer you additional technology or programs is a path to growth and success.
Minimise errors
The ‘measure twice, cut once’ rule applies across your business. When mistakes are made, they cost time and money for both the builder and the client. Again, technology that can identify clashes, errors, issues or conflicts before you pick up a tool is an excellent asset for your business and will increasingly set the best apart in the industry. There are repeat problems that occur with engineering – read here.
Focus on quality
A reputation for building quality and positive client relationships will be more likely to attract new clients and create a strong referral network for your business. Focusing on quality avoids the low-margin, high-volume risks in the building market, especially when costs are volatile.
Transparency as a builder
When builders go bust, one of the first signs is often a cloud of mystery where communication and working relationships break down with clients and suppliers. However, everyone’s goal is aligned in wanting to help clients get projects completed and builders stay in business. When business gets tough, it’s better to be transparent and find working solutions. Call in the experts before it is too late.
Are there improvements in your business and building processes you would like to make but you’re not sure how? Set yourself up for increased profitability in FY 24/25 by learning more about BIM and how our team can support your success. Contact us here.
