Three simple questions contractors need to ask themselves to ensure your company and brand continues growing cash flow and profits.

Three questions that if all owners of failed construction companies had asked themselves, they might have survived and thrived. They are simple, obvious questions, but how you answer them will determine if your construction company will stand the test of time.

There was a time when a contractor put a simple ad in the paper or a line listing. There was a time when a contractor put rely on referrals, newspaper and Yellow Pages ads to get more leads than they could handle.

Could Those Contractors Have Avoided Failure?

I believe they could have. This article explores three fundamental questions that every contractor needs to ask themselves. They need to answer them in ways that provide a clear path to continued and future growth and success.

Contractors who did not evolve into having a Marketing Plan made the same mistake other failed companies and brands made. They failed to Innovate, Reinvent, and Evolve.

Ask yourself:

1. What are you offering? New construction, remodeling or service and repair?

2. Who are you competing with? DIY, other contractors, the available cash homeowners have to spend?

3. What is your real competency? Residential, Commercial or both?

Challenging yourself to answer these questions, sleep on them and then revisit them again and again until you get to the truth. The Truth Is Four Levels Deep!

Getting The Leads And Doing The Work Is Only Part Of The Answer

Not adapting to a changing environment is one reason why so many contractors companies shrivel and die. They focus on the wrong areas to innovate or improve. They focus on the wrong enemy and threat to compete with. As a result, they miss what they could be doing to succeed and prosper over time.

Define The Type Of Contracting You Offer And Who Really Is Your Competition. It may not be the same form, structure, and category that you operate in.

For example, Home Depot does not see themselves as competing in the building supply business, but for a share of the home and commercial remodel and repair market. Be that homeowner doing a weekend project, Handyman Contractors, Remodel Contractors, Trade Contractors as well as other contractors and House Builders. This drives a very different approach and behavior across the organization too if they just saw themselves as fighting for a share of the building supply market.

Summary

It is very easy to get caught up in the short term and what you have today. You measure your share in the very particular segment you operate in and over obsess about your immediate competition. Just as contractors who did not market effectively did years ago you need to step back and ask yourself the three key questions and make sure you answer them in a way that will define and liberate your construction company at the same time.

1. What are you offering?

2. Who are you competing with?

3. What is your real competency?

Listen to this Podcast for more…

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Call Sharie now 206-361-3950 or [email protected] and schedule your no charge one-hour consultation.