This Podcast Is Episode 609, And It's About How Construction Business Owners Can Overcome Digital Hurdles We are witnessing a remarkable transformation driven by Artificial Intelligence (AI) and automation. While these advancements promise to enhance efficiency and speed, business owners must recognize the enduring importance of soft skills in their teams for long-term success and competitiveness. The construction industry has also experienced a significant transformation i...
This Podcast Is Episode 609, And It's About How Construction Business Owners Can Overcome Digital Hurdles
We are witnessing a remarkable transformation driven by Artificial Intelligence (AI) and automation. While these advancements promise to enhance efficiency and speed, business owners must recognize the enduring importance of soft skills in their teams for long-term success and competitiveness.
The construction industry has also experienced a significant transformation in recent years, driven by technological advancements. From project management software to drones and Building Information Modeling (BIM), construction business owners leverage these tools to enhance productivity, improve safety, and boost profitability.
This blog post will explore how you, as a construction professional, can thrive in today’s tech-driven environment and what skills you can build upon to remain adaptable.
Access to the best available tools and information is vital in almost any operation but is especially crucial in the competitive construction and home service industry. To help with your year-end bookkeeping tasks, take advantage of our exclusive 40% discount on Bookkeeping Templates (consulting, bookkeeping review, and outsourced accounting subscriptions excluded) and Construction Accounting Academy classes through January 6, 2025. you can use our promo code YEAREND40.
1. Embracing Construction Management Software
Construction management software is one of the most impactful technologies in the construction sector. Tools like Procore, Buildertrend, and CoConstruct offer a centralized platform for project management, enabling business owners to streamline communication, manage budgets, and track progress in real-time. By embracing these tools, construction companies can minimize delays, reduce errors, and improve team collaboration.
2. Adopting Building Information Modeling (BIM)
BIM technology has revolutionized the way construction projects are planned and executed. It allows for creating detailed 3D models that provide insights into every aspect of a project, from structural integrity to material quantities. This enables construction business owners to identify potential issues before they arise, reducing costly rework and enhancing project outcomes.
3. Utilizing Drones for Site Surveys and Inspections
Drones have become invaluable in the construction industry for site surveys and inspections. They offer aerial views of job sites, allowing for accurate measurements and progress monitoring without the need for labor-intensive methods. By incorporating drone technology, construction owners can increase efficiency, improve safety, and make more informed decisions based on real-time data.
4. Implementing Safety Management Tools
Safety is a top priority in construction. Technology has provided numerous solutions to enhance workplace safety, including mobile apps that facilitate real-time incident reporting, safety training, and compliance management. By investing in these tools, business owners can create a safer work environment, reduce accidents, and lower insurance costs.
5. Exploring Prefabrication and Modular Construction
Prefabrication and modular construction methods are gaining traction as they offer faster project completion times and reduced waste. By utilizing these approaches, construction business owners can enhance efficiency and deliver high-quality results to clients. This is especially important in a market that demands quicker delivery times and sustainable practices.
6. Focusing on Data Analytics
The rise of data analytics enables construction businesses to make informed decisions based on insights from past projects. By analyzing data on project performance, cost overruns, and scheduling, owners can identify trends and areas for improvement. This data-driven approach can lead to more successful project outcomes and increased client satisfaction.
In this regard, the World Economic Forum’s Future of Jobs Report highlights the disruption of skills we will see in the coming years, pinpointing critical competencies for future success:
- Analytical thinking
- Creative thinking
- Resilience, flexibility, and agility
- Motivation and self-awareness
- Curiosity and lifelong learning
These skills are universally applicable, highlighting the need for adaptability across all sectors.
Essential skills for teams in small businesses:
1. Resilience
As AI takes over routine tasks, construction employees must redefine and adapt their roles to stay valuable. For a small construction business, having resilient team members is crucial. You must navigate challenges, upskill in new areas, and leverage AI technology to maintain relevance and drive business success.
2. Lifelong learning
With rapid technological changes, continuous learning becomes vital. Your construction crew should embrace a growth mindset and eagerly acquire new skills to stay ahead. Lifelong learning isn’t just about meeting professional development requirements; it’s about adopting the latest technologies to enhance business operations.
3. Ethical decision-making
Even with AI-generated insights, ethical decision-making remains essential. Contractors like you must weigh the broader impacts of your decisions, balancing legal allowances with moral considerations. This skill ensures that business decisions are compliant but also fair and equitable.
4. Collaboration skills
Today, employees are expected to be strategic partners, offering insights to drive business success. This means working closely with various teams and stakeholders in a construction business. Collaboration skills, including effective communication and emotional intelligence, are crucial for turning data into actionable insights and fostering strategic partnerships.
5. Business acumen
AI-driven insights are only valuable if applied with an understanding of the business context. Construction employees must grasp industry dynamics and strategic goals to provide meaningful advice. Cultivating curiosity, critical thinking, and problem-solving abilities is essential for developing business acumen.
Final thoughts
As the construction industry evolves, embracing technology is no longer optional—it is essential for success. Construction business owners who invest in technology and adapt to these changes will enhance their operational efficiency and position themselves as leaders in a competitive market. By staying ahead of the technological curve, you can thrive in a world that increasingly values innovation and efficiency.
Integrating AI and automation presents a tremendous opportunity for business owners. However, the real value lies in the human touch that complements these technologies.
By emphasizing developing soft skills such as resilience, lifelong learning, ethical decision-making, collaboration, and business acumen, teams can thrive alongside AI, ensuring your business survives and thrives in the evolving landscape.
My advice: Foster an environment that values these competencies to ensure your team is equipped for the future.
About The Author:
Sharie DeHart, QPA, is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com
