How Lean Gets Done
Matthew Campbell, Construction Business Owner
In its early stages, the coronavirus pandemic forced dozens of major cities and even entire states to put a hold on construction to reduce the spread of COVID-19. While the moratorium has lifted, supply chain logjams in the construction market continue to drive up the cost of materials.
Adding to the volatility, we’ve seen many businesses table their construction projects to prepare for the likelihood of a global recession, as well as a fundamental change in the use of commercial real estate.
For many contractors, these disruptions have fueled anxiety and a tendency to overcompensate for lost contracts by pursuing projects outside their realm of expertise. During this unprecedented time, the smarter move may well be to pivot the other way — to go lean if your usual market does not present itself.
By using this time to refine practices and priorities, contractors can set themselves up for success. Rather than diving into risky projects, try taking a leaner approach focused around the following six strategies.