All Successful Construction Projects Have This One Thing In Common
As the US continues to adapt to the devastation of Covid-19, the construction industry searches for business models that can ease some of the current uncertainty while looking to emerge stronger when the pandemic ends.
Several of the well-known issues in our industry that commonly drive up costs are worker safety, declining productivity levels, and slow innovation adoption. Although this is far from a comprehensive list of challenges in the construction arena, these are the consistent delays in project schedules drains on project budgets.
Each of these does not have a single magic bullet solution, but all of these should be the focus of a forward-thinking firm looking to maximize investment while doing the right things to drive the business into the future. We have several suggestions for success as you navigate this difficult business cycle…
Focus On The Core, Partner For Expertise
Businesses across industries swing wildly back and forth between only doing what they're experts in, and trying to be in all businesses at once. Think of Shake Shack, and they're singularly focused dedication to a tasty burger experience as opposed to your local diner with a 10-page menu where everything is good but nothing is great. As business trends change, integration takes hold and businesses swing toward being in all nearby businesses. Rarely does this lead to being great even when you’re a powerhouse like Amazon. Amazon’s failed Fire Phone (I know, I barely remember that either—it was 2014 and it was a nightmare). The point is, as we weather business cycle storms, focus on your value in the business and partner for everything else. This concept gives you low overhead, less exposure, and is ultimately scalable.
Develop Partners, Don’t Hire Vendors
Because of the multitude of complexities of construction projects, even the best laid and tightest plans tend to come apart at some point, e.g. global pandemics and unfortunate worker injuries. In these instances, the value of having a partner to problem solve with is very different than a vendor relationship that is generally thought of as short term. Long term business partner firms should have a mutually beneficial relationship that is symbiotic and profitable, not just transactional.
It is this approach that will separate the good from the great, find best practices to build a culture where safe-work practices are second-nature, enhance worker safety, and drive productivity in your projects. It is also the case, that when great minds truly partner, innovation is often the outcome. If we can tackle these three construction industry challenges, brighter business success will be in our futures.
The CASA Group, Inc. offers personalized, solutions-oriented consulting expertise, within the construction and development market through the motivation and intellect of our people.
Founded by Michael Rattacasa