Predictions about what tomorrow will bring are never a sure thing—but having a strong reputation for getting projects done on time and on budget is a pretty sure bet when it comes to running—and growing—a successful construction business. Pros share tips for safeguarding and enhancing the reputation of your business.
Toward Ever More Efficiency
Reputation has always been a factor in operating a successful business—and social media has upped the ante. Dissatisfied customers (and former employees) have a wide range of options for letting the world know about challenges experienced with your services. Pros point out that misunderstandings about project details are a primary source of dissatisfaction for customers; accordingly, clear communication, great listening and the ability to brainstorm constructive solutions are key to maintaining a solid reputation.
Fortunately, Pros assure us that these days, many customers understand supplies and costs are not entirely in your control. Customers are often willing to be reasonable, so it’s a good idea to double down on what is in your control—stellar project management: “Look for ways to make your business more efficient, and you’ll stand out from the pack. Whether it’s strong communication within your team or with your suppliers, right-sizing your company, or maintaining and upgrading your equipment, there are countless areas of your business that can be streamlined to create a more effective process.” Further advice on effective project management is available right here.
Of course demand for “environmentally conscious” materials and processes is only going to rise, and Pros point out that leading with a green approach is another way to enhance your reputation and differentiate your contracting business: “Green certifications are becoming commonplace and function as ‘organic’ labels in product marketing. So, leading with your environmental credentials might just give your business a boost.”
Although not flashy, the time honored “doing good work at a reasonable cost” approach to having a strong reputation remains hard to beat. The trick, as even the most experienced contractors know, is that applying this approach on “each and every job” is quite hard to achieve.
That’s why wise contractors get an edge with the practical financial intel that comes along with The Partnership Account® for Contractors from Colonial Surety. Using this free business service, builders not only obtain a surety line of credit—in writing, they also get increased flexibility in running the business. Having the right financial data in hand every day allows contractors to make ever better decisions about people power and new opportunities as they plot their way to growth. After qualifying for The Partnership Account® for Contractors , you’ll access your own private digital dashboard, and have a day to day snapshot of your single and aggregate limits, as well as your current and available bond capacity. As your work in progress decreases, you can even update your work on hand—increasing your aggregate so you can go ahead and move that next project ahead. After all, you’re in control. Get started today:
Pre-Qualify and Get Free Financial Scores Here.
In every company, no matter the size, going digital with processes contributes to success. That applies to owners and financial data too. One quick way for owners to better leverage their financial data is through the complimentary, online services of The Partnership Account® from Colonial Surety. With it, contractors save time and gain better control of their finances. Specifically, in addition to a surety line of credit The Partnership Account® gives qualified construction companies:
- Control of bidding and bonding, online and in real time.
- Powers of attorney to seal and issue their own bid bonds—in minutes.
- Fast, direct, confidential bid bonds—no middleman.
- Direct access to performance and payment bonds on a customized dashboard.
- Real time tracking of bids and work on hand.
- Immediate access to Colonial’s lead underwriter as new opportunities emerge.
- A private Owner’s Dashboard to view surety lines, adjust work and analyze bids.
Learn more and pre-qualify for a Partnership Account® now!
Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.