ConstructConnect Blog

The accuracy in which you estimate the cost (and profitability) of your construction work will either make or break your business.

The amount of technology available geared specifically toward the construction industry is mind-boggling. There’s drones, robots, smart hard hats, wearables, ruggedized smartphones and tablets, and 3D printers. Soon we’ll have autonomous (self-driving) heavy equipment hitting construction sites. Not to mention the hundreds of software and mobile applications available for nearly every aspect of running a construction business from the office to the field.

The construction industry has gotten a bad rap for being notoriously slow at adopting new technology. Despite the proliferation of new tech that has hit the market in the last decade, many construction firms continue to underinvest in technology. Being unwilling to embrace the industry’s current tech revolution is no longer a sustainable business model for construction firms.

When a firm is just beginning, the business owners can feel a range of emotions. It's exciting to start your own business venture, but it can also be an intimidating process. There are so many things that could happen in the future, especially when the business is new and trying to grow.

Construction projects run on strict deadlines, keeping up with client demands, weather changes, missing supplies, and other problems to complete on schedule. A disruption can throw a figurative wrench into the works, making the job that much harder. What are some of the most common sources of disorder, and what can company owners and supervisors do to minimize this risk during their next project?

The construction industry gets perennially dinged for being too slow to innovate and adapt to new technology. This trend appears to be changing as more construction firms are realizing the value and benefit of adopting new technology. Not only is it a great way to step up their tech game, but it can also help them to attract and retain the next generation of workers. 

I’ve written about the importance of a vendor payments strategy for companies in today’s business climate. But the reality is it’s twice as imperative for construction companies to implement this process because the industry’s payment challenges are bigger—and so is the opportunity. Payments are at the center of two critical areas of the construction business—vendor relationships and job progress. So getting strategic about how you pay can make a big impact.

As this next generation of children begins to reach adulthood, the push to get a four year college degree is seen as the only solution to achieve career success. Any other direction is frowned upon by parents and society. Unfortunately, this leaves a huge void in the labor market and ignoring a promising opportunity for today's youth.

One in five Americans struggles with a mental health condition. Society has created a schema of those at risk for psychiatric disorders— women, teenagers, abuse victims and so on. It's not unusual for this schema to give less regard to men — even with changing mental health initiatives — because many people assume men are stronger and less vulnerable to mental health struggles.

Data makes the world go round. With access to high-speed, readily available information, companies across a range of industries can ensure smart decision making and better investments. Even the construction industry isn't immune to data and digital transformation.