Running any sort of small business comes with different sorts of challenges. If you are running any type of business that is in the construction sector, finding your own niche within the industry itself is a big challenge. The construction market is constantly evolving, and it is a, pardon the pun, foundation of many things in life. It is a fact that things will need to be built. So, judging by that mentality, there is always room for another construction company, right? Well, it’s not as simple as that. The nature of big construction companies having evolved from self-employed builders or one man bands is a common one, as people find it more lucrative to make your own work rather than trying to find a job in an oversaturated market. Making room for your little business at the start is as big a challenge as you’ll get in the industry, and you need to mark your own territory in the vast framework of big business, so how can you wedge your PVC duct in with all the others pipefitters you may ask?
Figure Out Your Target Market
In short, who is your business for? Figuring out one area of the market that hasn’t been cornered effectively is a sure-fire way to help you carve out a niche for yourself. What is the best way to figure out what your best market is?
- Do market research – It can be a timely effort, but in doing so, you can find out the hard facts and figures about where there is a gap in the market for you to start tailoring your services to. Either you can embark on your own market research approaches, or you can hire a market research company to conduct the research on your behalf. The latter option may be more costly, but at least you know it is in good hands, and you can get a detailed questionnaire sent out with detailed answers.
- Look at your services – What is it that you can offer? Look at your areas of expertise, can you find a theme running through your experience? Does your CV boast a lot of clients in the commercial sector? Do you work mainly with building extensions on residential properties? Do you specialize in one type of equipment fitting, such a PVC duct or do you work better with industrial plumbing? Looking at what your background is can help you dictate the types of customers you are best suited for.
Once you have figured out your market, you can press ahead with promoting your business. Developing a business brand that is clear, identifiable and gets to the crux of what your business is about is one aspect of having a productive marketing campaign. Promoting a business in the construction sector is reliant on developing contacts and building on existing relationships with clients. So in finding one client that is a big name and by doing a good job for them will help your reputation snowball. Ways to do this include networking at the right events, and there are plenty of opportunities to network if you look at sites like LinkedIn. Promoting your business is where you should spend a lot of effort in at the start because the reputation you will get as a reliable brand at the start will dictate the amount of work you will get in the future.
Getting Your Equipment Set Up
Running a construction business means equipment, and lots of it! From cement mixers, PVC duct supplies, tools, etc. There are many reputable companies that provide equipment for industrial usages, such as Commercial Industrial Supply. Just make sure that you have an inventory of all of your tools at the start, so it is easier to keep track of supplies, and have insurance for all your equipment.
Getting A Location
At the start of any business, if you are running one by yourself then it can be easier to run it out of your home while you get everything into place. But be warned, it is not always the most productive environment if you have lots of pets or kids. You may wish to invest in a small office to tide you over. Part of getting the base of operations set up includes sorting out the correct documents, such as public liability insurance for when you are working on building sites. As well as this, the small details such as a dedicated work phone number, a website/email contact, and vehicles will help get yourself set up.