√ COMPETITOR REVIEW
You will learn more about where your construction company sits in the market by looking objectively at who you compete with. Don’t try and be a business that you are not. See what works in the sector and put your own twist on it.
√ MANAGEMENT SKILLS
As the plan comes together, be realistic in your assessment of the management that are being asked to deliver it. Are they skilled enough? Do they need a leader? Are you spending enough of management training? Do you need to recruit more staff? There may be many reasons why this is a frightening undertaking but without a strong core team, you probably will not succeed.
√ STRATEGIC GROWTH PLAN
It’s no good if it’s in your head, write it down, add some forecasts, discuss with your team and get their buy in. Start off with bullet points and then fill in the detail as it goes through each new version. Don’t do it all yourself, share the load with your team. Don’t be dismissive about construction company mergers and acquisitions. Sometimes they make eminent sense as part of a growth plan. Organic growth can be painfully slow in some markets, including freight and logistics, so keep an open mind.