during those busy seasons, they’ re ready to handle it.
Avoid the Feast or Famine Cycle
One of the biggest problems in construction is the feast-or-famine cycle. You’ ve got tons of work one year, and the next, it’ s a ghost town. Keeping a steady flow of estimates out there prevents this issue. It means you won’ t be desperate for work when things naturally slow down because you’ ve got a backlog of jobs lined up or cash at hand to pick up the slack and keep your top talent working.
Always aim to have a steady pipeline, even during peak times. This way, when things start to quiet down beyond your control, like economic downturns, you’ ll have cash in the bank to pick up the slack. It’ s one of the best ways to ensure your company’ s financial health over the long haul.
Consider Outside Resources
With so many tools and resources available today, there’ s no need to do everything in-house. Consider using scheduling consultants, safety consultants and operation consultants to help streamline your operations, or consider outsourcing specific tasks that aren’ t your strong suit. You can also hire subcontractors to help perform some work or even subcontract the entire project. If you go this route, make sure your overhead and profits are preserved. It frees up your time and energy so you can focus on what matters most— running your projects well and keeping your team engaged.
External resources can help you get through peak periods without overloading your team, and they’ re easy to scale back when things slow down. Using these resources can lighten your load and help you avoid burnout.
Reward Your Team When Times Are Good
When your company is doing well, make sure your team knows they’ re valued. A busy season means longer hours, harder work and extra stress. Consider rewarding them with bonuses, extra time off or other incentives. A well-compensated, appreciated team is more likely to stick around, stay motivated and put in their best effort, especially when things get challenging.
Happy employees mean better performance, which translates to better work for your clients. Plus, when you take care of your team, they are more likely to weather any future storms right alongside you.
www. contractorshotline. com January 24, 2025 13