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How to Build Trust, Efficiency and Profit in Construction

How to Build Trust, Efficiency and Profit in Construction

FromConstruction Genius


How to Build Trust, Efficiency and Profit in Construction

FromConstruction Genius

ratings:
Length:
46 minutes
Released:
Sep 20, 2022
Format:
Podcast episode

Description

There are many activities in the construction industry that keep your team doing growth-restricting busy work. And you know what? There’s a simple solution:  Most busy work and inefficiency are caused by a lack of trust within companies. With the rise in labor prices and materials, this “busy work” can eat up your profits quickly.   But technological improvements like blockchain increases visibility of transactions and trust. If implemented correctly, this can increase productivity and fast track your growth (even if you are not tech-savvy).   In this episode Robert Salvador, CEO of Digibuild joins me to reveal how software can be implemented successfully. And how blockchain will revolutionize the construction industry.   Listen now.  Show highlights include:  Why construction companies lose 26% of productivity annually (and how to stop this from happening) (4:20) The “Old School” mindset that keeps companies growing at a turtleneck speed (2:50)   The simple “supply chain solution” to manage the 20% increase in material prices due to the pandemic (6:00)   Two things to consider when implementing new software (even if you don’t have buy in from C-suites) (8:15)  How to identify “low hanging fruits” within your business that can increase efficiency via software today.  (17:35) The two intangibles which can morph overwhelm into bankruptcy (and how to avoid them) (22:25)  The best way to ensure contractors get paid on time (without the hassles) (25:40) How to leverage blockchain with your vendors and increase “digital trust” (29:30)   If you want to connect with Robert Salvador from Digibuild, please connect with him here:  https://digibuild.com/
Released:
Sep 20, 2022
Format:
Podcast episode

Titles in the series (99)

Thomas Edison said, "Genius is 1% inspiration, 99% perspiration." This show interviews hard-working construction company owners and executives who share their wisdom, perspectives, and lessons learned from decades of experience bidding, planning, and building profitable projects. Topics include leadership, strategic planning, conflict resolution, niche identification, succession planning, talent management, business development, and business growth. Industry expert, Eric Anderton also shares his insights about how construction company owners can increase project profit by improving communication, running productive meetings, and attracting, developing, and retaining talented leaders. Tune in each week and get practical inspiration for how to build people, projects, and profits. "I know of no genius but the genius of hard work." John Ruskin