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Naib Singh Aulakh is chief executive of NAB Group
The UK is seeing a surge in new construction projects. There is an increased demand for construction projects in various sectors, such as residential, infrastructure, and commercial. This demand is driven by factors such as population growth, urbanisation and government investment in infrastructure.
This means that there are more opportunities for construction companies to win new business and grow their operations. New companies are launching daily, while existing companies are expanding their reach into various sectors of the industry.
However, this increase in demand has also led to fierce competition among these companies. With more companies competing for the same projects, it can be challenging to win profitable and high-profile projects. Competition encourages innovation and that is exactly what we are seeing today. Construction companies across the world are trying to differentiate themselves from their competitors and offer unique solutions to clients.
As the chief executive of the NAB Group, while I am constantly looking for new ideas, I never forget to keep my top five points in check. I have always given priority to these points and they have always produced results:
1. Relationships: Building strong relationships with clients is a fundamental requirement for me. I actively work to build strong relationships with our clients. Regular communication, attending industry events and networking are all great ways to stay engaged with clients and understand their needs and priorities. It's also important to remember that building a relationship is a two-way street. Clients want to work with companies that are reliable, responsive and deliver high-quality work. By providing excellent service and consistently meeting or exceeding client expectations, we can build trust and strengthen relationships with our clients.
2. Offer specialised expertise: Having a skilled workforce not only sets us apart from competitors but also enables us to take on more complex projects and offer specialised services to handle clients' unique needs and challenges. I believe in continuously investing in skills development and staying up to date with the latest technologies and trends in the industry. This involves providing ongoing training and development opportunities for our workforce, as well as investing in new equipment and technologies that can help a company deliver better results for clients.
3. Embrace innovation: I always make sure that I keep up with the latest technological advancements in the industry because embracing innovation and investing in new technologies and construction methods is a great strategy for continuous progress. It offers several benefits, such as improving efficiency, reducing costs and enabling us to offer unique solutions to clients. For example, using Building Information Modelling (BIM) software can help streamline the design and construction process, while offsite construction methods such as modular construction can reduce construction time and costs.
4. Collaboration: I think that collaborating with other companies and firms in this industry is a smart business strategy. We always prioritise collaboration as a means of expanding capabilities and offering more comprehensive solutions to clients. Collaborating with other firms can offer several benefits, such as sharing expertise, resources and knowledge, which helps us take on more complex projects. Additionally, collaborating with other firms can help us offer more comprehensive solutions to clients.
5. Invest in marketing: Investing in marketing and branding is a great strategy for any company looking to increase visibility and build a strong reputation in the industry, and I make sure that NAB Group never shies away from it. Marketing can offer several benefits, such as increasing brand awareness, attracting new clients and building a strong reputation in the industry. We achieve this through various marketing strategies such as social media marketing, email marketing, content marketing and search engine optimisation (SEO). In addition to marketing, investing in branding is also important for us. NAB Group has come a long way since its inception and it will continue growing stronger by the day.
In conclusion, the construction industry is highly competitive, and companies need to develop effective strategies to win new projects and stay ahead of their competitors. By prioritising the above, any company can position itself for success in this crowded market. It's important to stay adaptable and open to change, and to continuously evolve strategies to meet the changing needs and challenges of the industry. With a focus on these key strategies, construction companies can thrive and succeed in an ever-changing business landscape. NAB Group is the living testimony of it.
St James Centre. Client: Laing O Rourke. Scope of works: Substructure and superstructures elements. NAB Concrete
Nab Singh Aulakh launched NAB Concrete Services in 2011 to supply labourers, concreters, groundworkers and all machine drivers. Over the past 12 years, the company has grown to become the NAB Group Engineering Ltd, encompassing NAB Concrete, NAB Construction, NAB Properties and NAB Contractor.
Visit NAB Group Engineering to view our portfolio of completed projects