If you are managing a construction business, you may be concerned about the best way to keep things running smoothly. Here are twelve tips you can use to be an effective manager.
1. Take stock of your attitude. The attitude you have about your business — good or bad — has an impact on how things go. If you have the perspective that things will go well and you are willing to put in the work to make it happen, your business will be more likely to be successful.
2. Take a close look at your salespeople. Your sales people are just as important as every other person in your organization. Make sure that your salespeople know the business inside and out. Make sure every salesperson is working toward the company’s goals and objectives.
3. Keep up with staff training. Salespeople are not the only staff members who can make or break a contract. Every staff member who interacts with clients should be trained in the business processes and customer service so that everyone makes a good impression.
4. Utilize referrals. Referrals can be a great way to get business and avoid the frustration of cold calling. Make sure everyone on your staff knows how to handle referrals.
5. Make customer service a priority. Customer service can go a long way. Every interaction your staff members have with clients should be focused on positive experiences for the clients.
6. Take advantage of aggressive marketing. You may have trouble getting new clients if they do not know you exist. Marketing aggressively will spread the word of what you have to offer your community so that when prospective clients need your services, they will think of your organization first.
7. Maximize your income. Not all sales are good sales. By maximizing your income by teaching your sales staff to analyze prospective client contracts before pushing for the sale.
8. Analyze your budget. Reducing overhead can be a good way to increase profits without changing processes or workload. Are there areas in your budget where you can cut expenses?
9. Improve your job costing. More effective job costing can streamline your cash flow. If you need to, delegate this task who can give it full attention.
10. Look at productivity. Make sure you value your employees and do what you can to create an environment that maximizes morale. That will help ensure your employees are happy, which will make them more productive.
11. Keep an eye on receivables. Try not to let your collections lapse beyond 90 days. Delaying payments can have a serious impact on your overall business.
12. Look into managerial accounting. This approach to accounting can help you make decisions within the organization and stay on top of every aspect of your finances more effectively.