As a builder, your time is your most valuable asset. However, optimising your time in a way that benefits your business isn’t always easy.
For instance, many builders I talk to fall into the trap of…
- Pricing their time incorrectly, which causes your margins to shrink and leaves you working long hours for less profit than you deserve.
- Or getting bogged down in admin tasks,instead of focusing on acquiring new clients.
This can lead to missed opportunities, stalled growth, and ultimately less revenue for your business.
Either way, knowing how to navigate this aspect of your business is crucial, and putting the right habits and practices in place are critical in not only working efficiently, but putting more money back in your pocket.
The True Cost of Working On Your Own Estimates
Consider John, a talented carpenter who transitioned into custom home building. Like many new builders, he found himself drowning in admin and estimating tasks–often working late into the night, missing family dinners, and stressing to get his estimates right.
The more projects he took on, the harder it was to stay on top of everything. The hours he spent on estimating, which cost him about $3000+ worth of his time, ultimately ended up costing him multiples of that due to hidden costs and lost business opportunities.
Recognizing this, he decided to outsource the job to a specialist. The decision not only saved John time, but it transformed his business. He no longer had to worry about the accuracy of his estimates, and instead he could focus on what made him successful in the first place, which was building great homes and keeping his clients happy. As a result, John’s margins improved, his stress levels dropped, and he reclaimed his passion for the work.
The Truth About Outsourcing
The most profitable builders spend their time focusing on two things:
- Managing Their Construction Projects, and
- Acquiring New Clients
Working on admin and estimating tasks yourself not only adds to your workload, but it can also hinder the growth of your business.
It’s worth considering whether you should outsource.
This can allow you to:
Focus on Your Strengths: Your time is best spent where it has the most impact, whether it be managing projects, talking to clients or winning work. When you leave estimating to an expert, you’re able to put more of your energy and effort into these high-value activities that actively build on the success of your business.
Provide Faster and More Accurate Estimates: When outsourcing to someone who has years of experience, not only do your estimates come out on time, but they provide a more accurate and high-quality result, which is key to maximising your margins and protecting your bottom line.
Avoid Burnout: Running a building business is no easy feat. You’ve got projects to manage, clients to keep happy and trades to coordinate–all while ensuring everything stays on schedule and within budget. When you outsource, you get to focus on the parts of the job that energise you. What follows is an improvement of your mental and physical well-being, ultimately leading to higher work quality, more satisfied clients, and a more fulfilling career.
Leveraging 3D Models
Among the biggest advantages of outsourcing is your ability to choose a specialist who uses 3D models for estimating. Not only is this a tool–it’s a game changer.
Here’s why…
Trusting The Data and Issue Resolution: With 3D estimates, you’re able to verify and trust the data coming out of the model. That way, you can see every part of the build–from earthworks to finishes–in intricate detail. This clarity helps you spot potential issues long before construction begins, giving you the power to make informed decisions
Confidence and Transparency: A more accurate and comprehensive estimate allows clients to see exactly what they’re paying for, and gives them a clearer picture of what to expect. By centralising all project-related information into one platform, 3D models help eliminate the chaos of multiple spreadsheets and scattered data. This helps reduce misunderstandings, and provides a higher sense of trust and confidence for both parties, ensuring your projects are seamless.
Work Smarter, Not Harder
Understanding the value of your time is crucial to your success as a builder. By outsourcing estimating and admin tasks to specialists, you’re able to free yourself up to focus on the most productive aspects of your business.
The true path to success involves capitalising on your strengths, and allowing others to help you with the rest.
If you’re looking to stay ahead of the curb, our free guide will help you get there.
Estimating Breakthrough for Custom Builders
Grab it now to discover how to keep your margins high in your business, all while focusing on what you do best.
Disclaimer: Names and identifying details have been changed to protect the privacy of individuals. These stories are based on real events, and any resemblance to actual persons is coincidental.