Your construction business depends on several factors for success. Four of them include:
- Diligence – Regulatory agencies and insurance claims are managed through documentation. Lawsuits are not uncommon to a construction business, and your documentation can make or break a litigation.
- Management – No one person needs to manage everything. But everything must be managed, from A (architects) to Z (zax).
- Technology – Managing information to increase opportunities is relatively new to the construction industry. The leaders in your field use a technology advantage to stay on top.
- Transparency – You want construction business operations visible to stakeholders and project management. This is reassurance that efficiency and employee satisfaction are part of your strategy.
Supplier Relationships Also Drive Success
Good supplier relationships may lead to favorable prices,
generous terms, improved availability, and even the
occasional buyback. –Armando Roggio, Marketing Professional
Every construction business depends on suppliers. Your reputation for quality, quick turnaround, competitive pricing, and customer service depends on your suppliers. When your brand is on the line, supplier relationships can prove very beneficial.
1. Be knowledgeable
Know your purchasing history, compare it to economic history, and if you have a new construction business, get that information from similar businesses. Your suppliers will have a better understanding of what and how much to order. When you plan ahead, they can too, and this prevents supply chain bottlenecks.
2. Demonstrate professional courtesy
Be patient with supply chain problems; at least as patient as you’d want your clients to be when you’re in the same situation. Rather than complain about the problem, work to be part of the solution.
3. Enjoy the relationship
When placing an order, take the time to enjoy the conversation. Let your suppliers know you value their friendships.
4. Pay promptly
If you’re slow to pay, suppliers will save their best deals and the largest amount of negotiation leeway for other customers. When you’re dealing with a financial crunch, suppliers may give you longer to pay because you’ve proven you can pay on-time.
Construction Business Growth is Our Business
We take the time to collect and sort business permit data so you don’t have to. Instead, put this data to work for you. Call 800-925-6085 or contact Construction Monitor.