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Navigating the Construction Industry

Strategy
October 24, 2024•3 min read

Brad discussed the issues facing the construction sector, including a declining market and the widespread effect of fear-based journalism.

Here are some important lessons learned and practical measures that contractors and business owners may take to prosper in these unpredictable times.

Important Takeaways

1. Market Slowdown and Fear-Mongering

In contrast to the last four years, Brad noted that the construction business is slowing down. This is especially noticeable in election years when people are reluctant to spend because of uncertainty. This concern is frequently exaggerated by the media, which can have a negative impact on corporate choices. Brad stressed how crucial it is to ignore the news in order to keep an optimistic outlook and concentrate on doable tactics.

2. The Importance of Building a Brand

A lot of contractors who got into the business during the boom years (2018–2022) may be having a hard time now because they didn't put any money into marketing or building a brand. Brad talked about how he started his building business during the recession of 2009. He did this to show that people who worked hard during hard times are now getting rich. He told people that the problems they are facing now are because they haven't planted seeds for future growth.

3. Embracing New Technologies

The significance of embracing new technology to remain ahead of the curve. Virtual reality (VR) technologies and voice-activated listings are two new developments that the host brought up as having the potential to improve customer engagement and operational efficiency. Contractors can set themselves apart from the competition by embracing these technologies early on.

4. Mindset Shift: From Scarcity to Abundance

Many contractors have a scarcity mindset, which was a major issue of the program. This attitude is rooted in pride and ego and causes people to become defensive when they are criticized. On the contrary, Brad urged his audience to see criticism as a means to improvement. If contractors adopt an attitude of abundance, they will be more receptive to new opportunities and partnerships.

Action Steps

1. Disconnect from the News

Stop watching the news if you want to fight the damage that fear-based media does. Read books, listen to podcasts, or consult industry-specific information instead. Keeping a positive mindset and focusing on your company goals are both much easier with this.

2. Invest in Your Brand

Establish your brand if you haven't done it previously. The development of an expert website, search engine optimization (SEO), and the systematic gathering of client reviews are all components of this. Think about spending money on marketing campaigns that really speak to your demographic. Remember, the time to plant these seeds is now, as it may take months to see results.

3. Explore New Technologies

Learn about and use new technology that can improve your company's processes. To facilitate the discovery and contact of prospective clients, you might, for instance, think about establishing voice-activated listings. You should also look into virtual reality tools that might make your service presentations more interesting. Gain an advantage over your competitors by being an early user.

4. Cultivate a Growth Mindset

Get in the habit of thinking about abundance rather than scarcity. Take criticism and praise alike and use them to grow your company. Participate in networking events where people in your field can meet and talk shop. Opportunities and fresh ideas can emerge from this cooperative strategy.

Conclusion

With the correct outlook and approach, contractors may successfully navigate the currents of uncertainty impacting the construction business. If you want to succeed in the long run, you should avoid watching the news, put money into your brand, be open to new technology, and have a growth mindset. Keep in mind that making a profit is a good indicator of a successful company, not a negative thing.

Resources

Grab Brad's tell all book: The Contractor Profit Blueprint

https://thecontractorprofitblueprint.com

Join my free Facebook group for Contractors:

https://www.facebook.com/groups/contractorprofitblueprint

Free Sales Guide: https://theprofitclub.hammerandgrindpodcast.com/sales-training-optin

Profit Journal: https://www.lulu.com/shop/brad-huebner/profit-journal/paperback/product-ype4j9.html?q=profit+journal&page=1&pageSize=4

business growthConstructionprofitstechnologybrand building
As a former Marine from Southern Indiana, Brad understands the importance of leadership, grit, and determination. After the Marines, Brad worked various jobs until he founded a successful construction business specializing in high-end Handyman and Residential Remodeling, completing over 2,500 jobs for 900+ customers. Now focused on coaching, Brad helps contractors break free from the crazy cycle of struggle, driven by a passion to support those striving to build businesses with integrity, ensuring they don't give up on their dreams. He believes everyone has the opportunity to create abundance in their life, business and community, but oftentimes they fall short due to a lack of knowledge. His mission is to grow people, create community and live abundantly.

Brad Huebner

As a former Marine from Southern Indiana, Brad understands the importance of leadership, grit, and determination. After the Marines, Brad worked various jobs until he founded a successful construction business specializing in high-end Handyman and Residential Remodeling, completing over 2,500 jobs for 900+ customers. Now focused on coaching, Brad helps contractors break free from the crazy cycle of struggle, driven by a passion to support those striving to build businesses with integrity, ensuring they don't give up on their dreams. He believes everyone has the opportunity to create abundance in their life, business and community, but oftentimes they fall short due to a lack of knowledge. His mission is to grow people, create community and live abundantly.

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