Let’s get ready for the post corona recovery

The construction industry is packed with excellent problem solvers who are brilliant at dealing with the immediate challenges in front of them. It’s what we do. But it makes sense also to prepare for the post coronavirus business environment and homeworking can offer fewer distractions than the office to think about and prepare your next business plan.

Start with a SWOT

SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis is a classic business planning tool, that is admirably self-explanatory. The key is to be honest and objective about your business and what it is capable of. There may well be an upcoming opportunity in broadband infrastructure, but if you have no knowledge of the sector and are unable or unwilling to buy it in, it’s probably not for you in the short term. Other planning tools such as the Business Model Canvas will help you think about your business and customers in the round.

Get personal

Sometimes business planning gets bogged down in the abstract but its paramount to focus on the individuals and business relationships you need to identify, maintain and develop. This includes customers, supply chain and internal resources. Plotting your existing customer relations against profitability can be enlightening.

Follow the money

Fiscal stimulus is going to be significant element of the Government’s reaction to the corona outbreak. We have saw announcements of significant investment in capital projects in the 2020 budget and whilst exactly where money will be directed is likely to change, organisations should be preparing to get their slice of the action. This will mean you getting involved in public sector procurement. Or working for 1st tier organisations that have public sector contracts. Or both.

Do things differently

This period of enforced change offers an opportunity to review how you operate and gain competitive advantage. You may find that flexible working really works for your organisation and allow you to reduce your cost base. The situation may accelerate trends towards Offsite Manufacture and the use of collaborative working tools. You may need to boost your IT infrastructure significantly for the long term and reconsider how you monitor and measure your team’s output. Considering your options and being prepared for what might seem like quite significant step changes will be important.

It’s good to share but the buck stops somewhere

Planning for change isn’t easy, more so because it’s not something many owners and managers in the construction industry are trained to do. It’s good to consult with your teams during the process to avoid any accusations of ivory tower syndrome, although even very senior team members can be loathe to contribute very much outside of their area of expertise. Ultimately the success of any plan relies on those with belief in their analysis and action plan; capacity to direct resources to make it happen and the ability to successfully communicate to colleagues, clients and stakeholders.