George Hedley is a professional business coach, popular speaker and best-selling author of “Get Your Business to Work!” and “The Business Success Blueprint For Contractors” available at his online bookstore. He works with business owners build profitable companies.
1. Secrets to building a great construction company:
I try to act like a Super Bowl winning coach and always remember that I run a business, not a project. We must continually focus on the eight traits of great companies. I also try to hire right and believe in our people. Let go and delegate. I often use the command: “Manage it!” when people ask me to solve their problems for them. And of course, please the customer!
2. Secrets to working with three owners:
The best thing is being able to break up our company management into three distinct categories: administration and finances; equipment management; and estimating and production. This way we can all focus on attention to detail and the ability to trust things are being taken care of. If in doubt, we attempt to have fun with it!
3. Secrets to building a great team:
Hire up; explain the mission; provide clear goals for customer satisfaction, safety, quality, and the budget; systemize; ongoing training; and manage the process.
4. Secrets to doing quality work:
Focus on the details, explain, and train expectations
5. Secrets to keep your perfect safety record:
Mandatory daily safety meetings on every job, weekly tactical meetings on every job, provide regular safety training sessions, discuss potential hazards at the beginning of every task, and create a safety culture by embracing quick hazard recognition and corrections.
6. Secrets to making money in the type of construction you do:
Focus on the details, communicate production expectations, execute work superbly but quickly, please the client, and beat the estimates.
7. Keys to sustained growth:
We hold a two day strategic planning retreat every year and update it every six months to stay on track. Knowing what future projects are being funded to keep the pipeline full. Focus on bonding growth.
8. Other tips for growing a construction company:
Management- Focus on execution; that’s where the money is made.
Field- Focus on execution; that is where the money is made.
Production- Do it right once!
Scheduling- Tie the construction schedule directly to the budget durations.
Financial- Secure enough operating capital to support growth & bonding.
Equipment- Rent unless utilization provides an equity position.
Estimating- Create a thorough scope and then price the scope.
Does providing excellent customer service pay off?
Based on the success of RACC, it most surely does. Focusing on a single strategic objective and seeking customers who fit within your company mission guarantees success. By not wavering in their top priority to satisfy customers, RACC has been able to grow their top-line revenue and bottom-line profits. They have built a long list of happy customers who trust they will do an excellent job. They have also been able to build a strong team of experienced management and productive field employees dedicated to a respected fulfilling mission. Are you willing to get focused on providing the best customer service possible? Try it! It might also work for your company!
Construction Business Owner, April 2011