Business ownership can be difficult and, at times, an overwhelming adventure. From economic factors such as rising labour costs and supply chain disruptions to changes brought on by innovations and technological advances, simply keeping your doors open can be challenging.

But we know survival isn’t enough. We want your business to thrive and grow. So how can you do it? We spoke to five of our thriving HIA members to provide some tried-and-tested tips.

Tip 1: Master your budget 

A well-managed budget is essential to business growth. By carefully tracking income and expenditure, you can identify cost-saving opportunities, allocate funds strategically and make informed decisions.

For Ben Garraway of Mildura-based Garraway Developments, budgeting also allows him to forecast profits and create long-term business plans.

‘By comparing actual expenditure against our budget, we can pinpoint areas of overspending or inefficiencies and take immediate action, reducing the likelihood of financial challenges,’ explains Ben.

With the help of his marketing agency, Ben has integrated several budgeting tools, including Wunderbuild, Xero and Dext, into the business. ‘We also collate all information into Google Sheets for a detailed summary of our business financials, which helps us manage cashflow seamlessly,’ Ben says.

Allocate a percentage of each invoice to a separate savings account. This provides a safety net against emergencies or allows you to complete your own projects when here’s a surplus amount in the account.

Ben’s top tip

Tip 2: Build a strong brand

A brand is more than just a business name and logo; it’s the overall experience you offer customers. A strong brand differentiates your business from competitors, increases awareness of your services and builds customer loyalty.

For Frank Blueming, Director of Melbourne’s Period Extensions & Designs, brand building has involved carving out a unique niche in the local market. ‘We built a brand that focuses on period homes. Our distinctive brand and approach highlight our traditional style and high level of detail,’ says Frank.

Establishing a strong brand is just the first step. Next, you’ll need to measure the performance of your branding efforts and refine where required. 

‘We follow up on all leads and distinguish how they found us to determine what’s working for our brand. We also track our engagement through our website, social media and Google ads,’ Frank explains.  

Find your niche and stick to it. By specialising in a specific area, such as period restorations, you can forge a unique brand identity and attract the right kind of clients.

Frank’s top tip

Tip 3: Connect with your clients

Connecting with clients allows you to build personal relationships, fostering trust and peace of mind. It also means you can tailor your services to exceed client expectations. 

Arguably, the best way to connect with clients is through regular communication. This might be simple things such as returning phone calls and scheduling monthly site visits or more involved strategies such as creating a dedicated client portal. That’s exactly what Toby Searle of Sydney’s Highwater Homes has done. 

‘Our clients have access to their own online client portal where they can see what’s happening with their home from day one.’ 

Highwater Homes also provides a customised client handbook to guide clients through the journey. ‘The handbook walks them through every step of the construction process, so they know what to expect at each stage of the build,’ Toby says. 

Limit the number of homes you build at once. This allows you to closely manage each project and provide clients with a more personal level of service.

Toby’s top tip

Tip 4: Manage leads effectively

Effectively capturing, nurturing and converting leads is crucial for long-term business growth. One of the most effective ways to manage leads is through CRM – customer relationship management software. 

Mark Christou of Sydney-based Christou Homes recently implemented the BuildConnect CRM. Already, it’s revolutionised his approach to lead management: ‘We can now capture and track every lead from the moment they make contact, ensuring no opportunity is overlooked.’

With BuildConnect’s suite of features, including automated follow-ups, lead prioritisation and customer interaction tracking, Christou Homes has saved time and increased conversion. 

‘By staying on top of leads and providing timely, personalised communication, we’ve been able to build stronger relationships with prospective clients, ultimately leading to more signed contracts,’ Mark says.

For any business looking to grow and scale, investing in a robust CRM system is a crucial move that can drive significant results.

Mark’s top tips 

Tip 5: Stay ahead of the curve

There’s no room for complacency in construction. Embracing technological advancements – from innovative materials to marketing automation – can streamline your operations, enhance efficiency and improve the customer journey.

For Ben Tass of Sydney’s TASS Construction Group, embracing and anticipating new technology is an essential part of doing business: ‘We are always open to new technologies and have trialled and adopted many new programs, apps and equipment.’

While Ben is already leveraging programs such as Buildertrend, Campaign Monitor and HazardCo to optimise business operations, he’s currently exploring the strategic potential of artificial intelligence.

‘AI presents the biggest opportunity in decades to revolutionise how businesses operate, and we intend to be at the forefront,’ says Ben.

Keep your ear to the ground but make sure you’re carefully vetting any new programs or technologies to see what benefits it offers to your business and whether these outweigh the investment required.

Ben’s top tip

Every business is unique

Business growth requires a strategic approach. You can overcome challenges and achieve sustainable business growth by tackling some of these aspects above.

Remember, every business is different – this is just a starting point. Sea Salt Marketing specialises in helping builders overcome these challenges. If you’re looking for significant growth, an option is to engage a specialist business coach or marketing agency that can support you along the way.

First published 1 October 2024