Turnbull effect on construction industry
The sudden and extraordinary ballot last night saw Malcolm Turnbull become Australia's fifth prime minster in five years after toppling Tony Abbott in a leadership coup by 54 votes to 44. Turnbull has vowed 'a different style of leadership' to tackle the nation's economic problems, but how does this translate to the challenges in developing Australia crucial national building infrastructure?
"We need to have in this country and we will have now, an economic vision, a leadership that explains the great challenges and opportunities that we face," Turnbull said.
“We cannot be defensive, we cannot future-proof ourselves. We have to recognise that the disruption that we see, driven by technology, that volatility and change is our friend if we are agile and smart enough to take advantage of it.”
"The big economic changes that we're living through here and around the world offer enormous challenges and enormous opportunities," he said.
"We need a style of leadership that explains those challenges and opportunities, explains the challenges and how to seize the opportunities."How to face disruptions in the industry
The only way is head on. Embracing digital platforms and innovative technology will create cascading efficiency. Companies that adopt new tools keep their customers around - customers no longer tolerate a counterpart who is not enabled with the most up-to-date tools fearing that their offerings are not future-focused.
In our industry, change is afoot; construction companies, civil plant operators and technology companies are starting to analyse the industry as a whole and find ways to improve productivity.
While not historically embraced, disruptive forces are starting to offer real opportunities to improve efficiency. There's a reason why industry disrupters find business - because they work.
Take PlantMiner for example, our time and money saving platform for procuring hire quotes leads to a large number of confirmed hire jobs for our plant hire suppliers. The more requests for equipment we receive, the more hire work PlantMiner hire suppliers are winning. It's quite simple really. Whether it's procuring an excavator for your next project, or getting your excavator out of the yard and on site, aggregators like PlantMiner have made it possible for people to do business throughout the world in real time.
How your business should take advantage of it
The past financial year has certainly rocked some foundations, as we continue to see a shift in growth from mining investments, to non-mining sectors of the economy. So how do you survive in a volatile market that's no longer a safe haven for guaranteed work?"The past year has seen the most brutal turn down that i've experienced through my time in the industry. Technology is the key to maintaining a competitive advantage into the future. For businesses to outperform their competitors over many years and through many cycles, they must find new and smarter ways to do things" - Chris Salisbury, Managing Director, Rio Tinto
Empower your business today with these tips to optimise your business and marketing strategies:
- How plant hire companies can win more work and tips to improve your response to leads)
- 5 tips to prevent breakdowns on site and how to overcome them
- Why collaboration should form part of your bottom line and how a PlantMiner supplier reaped the benefits of doing so
- 3 reasons why local suppliers will improve your tender for government business
- Wet vs Dry Hire and considerations for your bottom line
- Learn how to write a conforming tender and understand the true requirements to respond
7 factors affecting your plant hire rate and how to improve your procurement process - Track record and how to effectively list it to instill confidence at every turn
- How to get ahead with traffic management plans to improve site safety
- 7 ways to thrive this financial year and steps to better your business opportunities as a supplier or subcontractor)
- 7 steps to build better relationships with your subcontractors and stay on top
- How to add efficiency to your project cycle and quick tips to ensure you're getting relevant hire rates for your project
- 5 technology trends to keep an eye on and how to use them for your advantage
- How to present your business to potential customers and the importance of explaining your capability information
- 6 things successful builders do differently
- Are you promoting your construction business efficiently?
- 10 linkedin groups to follow to further your Rolodex and business knowledge
- How suppliers can grow their industry network online and how to build relationships
- 3 tips to improve your customer service and prove you're a smart choice for any client
If you're a plant & equipment supplier or subcontractor, it's time to ask yourself - how effective are my current business development efforts? How can I find new and smarter ways to do business?
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