4 Must Have Tools to Scale Your Contracting Company
To expand a contracting company you need to incorporate effective tools in order to scale effectively. Scaling a construction company from the ground up requires effective planning, effective tools and effective choices.
Individuals seeking acute assistance related to their construction business, and those in need of general business development tools have a lot to choose from. The following assets effectively help you scale your contracting company, and they’re tried-and-true methods.
Surety Bonds: A Guide for Contractors
This site is jam-packed with incredible resources and publications pertaining to Contract Surety bonds, and it offers three separate and narrated presentations. The comprehensive presentations cover the bonding process, surety bond basics, surety bond agent qualities, surety relationship requirements, pre-qualification processes, bonding benefits and risk-management with a bonded sub-contractor.
DOT DBE Support Services
The DBE Support Services Center offers consulting and training programs for DBE’s (Disadvantaged Business Enterprises)—helping them acquire expertise, proficiency and necessary experiences required to compete with non-DBE’s on equal footing. DOT federally-assists DBE’s with highway contracts, and it supplies subcontracts, too.
Turner School of Construction
While not inclusive to a pre-existing contracting company, the Turner School of Construction, founded in 1969, is responsible for training business owners in construction industry disciplines. This program has been designed to promote the administrative, technical and managerial skills. It supports reputable growth while boosting managing construction project efficiency.
Temple Construction Management Certificate Series
The Construction Management Certificate Series offers an intensive, 9-month seminar series capable of delivering business management fundamentals and tools to both aspiring and pre-existing contractors. Participants completing the series can earn a certificate of completion, which may be utilized within a customized scaling operation within a contracting company at specific levels.
Many contracting company scaling tools exist, but many are exterior from individual contracting companies. While these tools may be integrated to promote growth and enhancement, their uses should be noted to help companies adhere to moral and expansion guidelines:
Surety bonds should be understood, and business leaders can empower their environment through education and bond management skills.
Disadvantaged Business Enterprises have a lot to offer, but they should maintain routine access to helpful tools capable of promoting success within the industry.
Minorities and women should always be granted equal-access, and they should be placed upon equal footing with industry members.
Sometimes, seminar series are ideal for delivering an effective understanding of business management fundamentals.
Bottom Line
The bottom line is scaling a construction company is no easy task. Using the tools above combined with our employee tracking service is a great place to start. Right now there are many people waiting months to hire construction companies and construction projects are often completed simultaneously. But just like in 2008, it is important to remember that for a company to survive a recession, it must be run efficiently and business systems are important to implement during times of economic growth.
