Strategic Planning In Residential Construction

A failure to plan is a plan to fail, and in the world of residential construction, that couldn't be truer.

Are you tired of being thrown into chaos with every slight shift in the market?

Do you feel like you’re just hanging on by a thread?

2023 was a tumultuous year for builders but there is optimism ahead…

If you plan for it!

A failure to plan is a plan to fail, and in the world of residential construction, that couldn't be truer.

Imagine building a house without a blueprint.

Sounds crazy, right?

That's exactly what you're doing with your building company if you're not planning.

The key is to start with strategic thinking. Take a step back from the day-to-day grind. Dream a little.

What do you want your business and life to look like in the next five, ten, or even thirty years?

This is your ‘Big Hairy Audacious Goal’ - your vision for the future.

But don't be intimidated; take one step at a time, and it will become more achievable than you imagined.

The Practical Side of Strategic Planning

Once you've set your vision, it’s time to bridge the gap between where you are and where you want to be.

This is where resource planning comes into play. Assess your current resources and align them with your goals. Whether it’s investing in new technology, hiring additional staff, or enhancing your marketing strategies, make strategic moves that align with your long-term vision.

Strategic planning isn’t a solo mission. Involve your team, especially those in leadership positions. Encourage open, honest discussions about the company's strengths, weaknesses, opportunities, and threats (SWOT analysis). Remember, authentic conversations lead to real insights and progress.

The Secret Ingredients - Accountability and Prioritisation

After you’ve laid down your plan, the real work begins. Hold yourself and your team accountable.

Regularly revisit your plan, track your progress, and adapt as necessary. Even the best-laid plans require consistent action and review.

This could mean setting your alarm for 3 AM to work on your business. Yes, it’s tough, but necessary sacrifices lead to greater achievements.

Ever heard of the pickle jar theory? It’s a simple yet effective way to prioritise.

Imagine your time as a jar. First, put in the ‘rocks’ - your most important tasks that align with your strategic goals. Then add the ‘pebbles’ – necessary but less critical tasks. Finally, fill the remaining space with ‘sand’ – the everyday tasks. By doing this, you ensure that the most important aspects of your business get the attention they deserve.

Commit to Continuous Improvement

Improvement doesn’t happen by accident. It requires focused effort and constant work. Whether it’s improving your business processes or personal growth, it’s an ongoing journey.

Strategic planning in residential construction is not just about surviving the next financial quarter or getting through the year. It’s about setting a vision for your business and life, taking calculated steps to reach that vision, and continuously adapting and improving.

So, are you ready to take the leap and transform your business?

Don’t wait until it’s too late. Join a community, like APB, where you can regularly engage in strategic planning exercises and get feedback from your peers. This ensures you keep moving in the right direction and stay focused on your goals.