Ditch the old methods of conducting business to revitalize your company.
Monday, December 3, 2012
The following practices, though perhaps once common, no longer work in the construction industry. Avoid these, and you’ll have a better opportunity to keep up with and surpass the competition:
- Honoring tenure over results
- Valuing craftsmanship over the ability to follow company systems and rules
- Letting someone else manage money nstead of knowing your numbers
- Keeping foremen in the dark rather than sharing job cost goals with them
- Keeping decisions out of others’ hands instead of empowering employees
- Hiding financial results from managers versus opening your books
- Buying all field equipment instead of renting to conserve capital
- Providing only lump sum bids rather than line-item cost breakdowns and project savings information
- Buying cheap software versus investing every year in technology to stay ahead of project requirements
- Winging your company goals and strategies versus updating a written strategic business plan every year
- Hiring low-price assistants versus highly qualified, experienced performers
- Staying in your comfort zone instead of hiring managers with expertise in emerging markets
- Waiting for the economy to turn around or for old customers to call versus having written sales and marketing plans and seeking new customers and project types
