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Build Strategies on Market Intelligence

When change is a reaction instead of a well thought out plan, your business hurts more than it gains. In the fast-paced world we live in today, scheduled revisions and strategy changes are a must. Learn more in this article. 

In 2013, the scientific community reported that 90% of data generated throughout human history had been generated in the last two years. That was almost four years ago today. This year (2017) the iPhone turns 10 years old. Internet connections throughout the world are much faster and allow for real-time communication from anywhere in the world. This massive amount of information and the speed with which it has been consumed has given way to extraordinary upgrades and changes across industries. The construction industry must not only quickly adapt to these changes, but also plan to stay ahead of the curve. Construction companies need to be proactive instead of reactive. Here are a few pointers on how to launch your company into the future:

Planning is a non-stop activity

it is very easy for a company to find its comfort zone and stay there for a while. Perhaps long projects or returning customers give them a false sense of security. However, construction companies that are to survive the future need to be constantly planning ahead. Don't wait for projects to be over or for clients to switch to another provider before you plan your next move. Be ahead of the curve and always be planning.

A true leader enables her team

Old-fashioned hierarchic organizations involve teams that follow their managers and directors. Team members do their jobs and go home at the end of the day without giving their two cents on innovation or change. Not only are they not allowed to do so, but they are also unwilling to be undermined or dismissed by their bosses. Why go the extra mile if that behavior is ignored and goes unrecognized? 

True leaders enable their team members to pitch in with new ideas. Even if these ideas never come to fruition or need further development, the point is that there is a big enough pool of new ideas and projects to pull from. It doesn't pay to be the smartest person in the room, it pays to support and water seedling ideas into powerful trees. This needs to be a very important part of your company's working culture. In fact, it is the only way your company can thrive in an ever-changing landscape. 

Automate change

So, if you are already constantly planning and enabling team members to pitch their ideas to the rest of the company, then make change easier by automating it. It's not enough to be open to new ideas, one must encourage them. For example, software companies conduct "hackathons" every quarter or once a year. These hackathons are short for "hacking marathons". For an entire business day, employees from all departments team up to come up with a solution to an internal or external problem. Whichever team has solved the most pressing problem or the one with the most creative solution wins. 

Construction companies can create a similar dynamic. For an entire day, your employees can team up to come up with a solution to one of your company's problems using any means necessary: software, design, operations, etc. Share these solutions to the entire company via your construction information management system

Data is important

Don't fool yourself into thinking you can make decisions based on gut feelings alone. You need data to better visualize potential opportunities. Consult analytics, project management metrics, and other relevant numbers for your decision making process. 

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