5 steps to building firm success in 2022

We all know January can be a hard month. The weather is awful; it’s dark and wet. Building projects often get delayed. However, it’s not all doom and gloom. This quieter period can be an excellent opportunity to reflect on your business and what you can do to take it forward.

Here are 5 steps to take your building firm forward in 2022:

1.    Review where your business is going

OK, so this is a big one. Think about what projects you want to take on in the future. Could you concentrate on doing fewer, more profitable projects? Would you prefer to take on meatier projects – large extensions or maybe new builds? Write your goal down on paper and then break it down into where you want to be in 6 months, a year and 3 years’ time. Break your big ideas into daily, weekly or monthly actionable targets.

2.    Improve your profit margin

There are two quick ways to improve your bottom line: raise your rates or reduce your expenses. Or you can do a combination of both. Look at last years’ figures and see where you could make savings. If you can’t, ensure you’re covering your overheads fully in each job – estimating software can help you do this. Now think about last year’s profit. Did you make less than you expected? Are inaccuracies and oversights in your estimates or delays to your projects costing you money? Think about what you could do differently – again, builder estimating software can help with accurate estimating and project management.

3.    Swap busy-ness for productivity

Busy isn’t necessarily productive. You need to target your energy in the right direction. Take a step back and look at what’s working and what’s not. Think about ways to make time-savings and put systems in place that will streamline parts of your business.

4.    Become more tech-savvy

Many builders recoil at the thought if “digitisation” but all it means is using technology to help you work more effectively. Consider where IT could make your business run more smoothly - estimating, health & safety, building contracts, project management are some of the areas where software can help. 

5.    Commit to doing things differently

Changing the way you work can be daunting. But remember the saying, “if nothing changes, nothing changes”. Keep your business goal in mind. Changes are necessary if you want to improve your profitability and have a more successful 2022.