GETTING AHEAD OF YOUR COMPETITION

In the fast pace of today’s generation, a lot has changed. What was once a simple and well-minded lifestyle where everybody is concerned on their own survival became the complicated world where people are always concerned of what others are doing and making it a point to gain an advantage.

            Like any other business, cedar capital group, a company which sells and leases high-end capital construction equipment in Singapore has also felt the challenge. In response, we have also expanded our business not only in the country we are at but also in neighboring cities, Tokyo, Japan and Seoul, South Korea by hiring some agents in those areas. It is somehow our pride to say that we have, in a sense earned a competitive edge from others.

Same goes to construction companies which, for decades, compete for the top ranks as the demand for this work has been stricter. Here are some of the ways to step up from others:

1.    Expand your strengths to a higher level

Scrutinize and review the projects in which your company excels. Look for other types of jobs that would benefit from those same strengths. Home remodeling is soaring in most areas. In some regions, healthcare construction is up over 200 percent. Get on at least three new bid lists that are not in your comfort zone.

2.    Don’t stop finding new clients

Don’t be too picky. Home improvement stores partner with lots of independent contractors—get on their lists. Look at your crew—if they have special skills, leverage them by bidding for something new.

3.    A Little More Risk, A Little More Reward

Don’t just settle in your comfort zone. Opportunities are everywhere—you just have to go after them. Why not find a great deal on some real estate and fix it up? You can rent it. You can flip it. It all adds to your bottom line and company growth.

4.    Engage Employees in Revenue Generation and Cost Reduction

Set achievable revenue and cost-reduction targets. Be honest with your team about where you are and where you need to be. Ask for their help. Incent them by allowing them to share in the returns. Your people have good ideas. Make it a regular habit to bring everyone together to share them.

5.    Explore New Technologies

The world is now run by technology and if you don’t do the same, you will definitely be left behind. There are lots and lots of software that you can use for your own business that can well-organize and well-manage your data and files and model building more easily than by manually doing it. Much more, you might impress more potential customers when you are offering technology-based outputs. Find out how automation and organization can bring new intelligence to your proposals and bids.