A majority of construction companies, weather its small and big scale, continue to reel under financial pressure despite a seemingly surge in home building and renovation in their respective countries. Below are the common mistakes that most home renovation and construction companies make.
- Lack of a Good Business Plan: Risks are inevitable part of construction business and only a stout business plan can assure safety against all odds. But many jump into the race without effective and complete planning.
- Improper Marketing Strategy: A good marketing strategy is the key of success for every business.. However, many construction companies, in Canada in particular, are still not incorporating the latest technology to their marketing camping..
- Unable to Discern Bad Contracts: Construction companies should avoid accepting bad contracts. Those with penalty clauses, delayed payment provisions, work not commensurate with home builder or renovation contractor skills and experiences, and may put them in a negative situation.
- No Proper License and Certification: Lack of certification leads many consumers to consider it a sign of no expertise in a field. Home builders may have to pay fines and incur bad name if the government penalizes them for providing services without proper license.
- Static Skills, Technology, and Systems: In a competitive world, continued enhancement of skill and systems are essential for business growth and expansion. Construction business is ever evolving with new themes, technology, and tools and companies must upgrade themselves accordingly.
Other mistakes are:
- Fighting With A Bad Client
- Eager To Have Hand on All Jobs
- No Insurance Cover
