Avoid these mistakes on construction projects. Lego Men looking like they are putting together something from Ikea

3 Common Mistakes Construction Companies Should Avoid

Sure, there are some really bad horror stories out there in the construction industry. But there are some stories that, while not catastrophic, we can all relate to. We’ve all experienced the regular occurrence of misplacing or even having tools stolen (all too often). Either way, it usually ends with a massive inconvenience for the company as well as lost time and money. So what can you do to avoid not only losing your small tools, but to also put them to work for you? The answer is simple: start using modern technology to track your assets! Let’s explore how easy it is to take advantage of these new technologies so that you can work on what matters most! Here are 3 all too common mistakes that you can easily avoid.

1.  Mistake to Avoid:
Improperly Estimating Costs.

The first step to properly estimating costs is deciding that it’s not an exact science. While some organizations may be able to create a highly accurate estimate, most will find their estimations are more based on educated guesses (this of course would be way easier with a crystal ball, knowing all the challenges each job brings). So what does this have to do with tools? Simple. Many companies only guess at the tools needed to complete work. . 

It may seem like a small thing but just imagine easily being able to tell what tools were actually used in completing past work. Then imagine creating your cost estimates from actual tool usage of previous jobs! Initially this may not seem like a construction mistake to avoid, but when you estimate properly it truly puts you ahead!

2. Mistake to Avoid:
Ignoring Proper Equipment Management.

Tools are expensive (preaching to the choir, we know). A few thousand dollars here and there for saws, drills, kits, and ladders will make most people cringe. But tools are also one of the most important assets in any construction company’s arsenal. They’re at once an investment and an expense—and if they aren’t managed properly, they can end up costing far more than you’d ever expect to pay. When it comes to proper equipment management:

  • Always have a system in place for tracking your tools and where they’re stored.
  • Make sure all employees know where each piece of equipment is located so that they don’t needlessly search through several different places when they need something specific (this can really waste time).
  • Have a way of knowing when equipment needs maintenance or gets damaged.

3. Mistake to Avoid:
Not Modernizing Manual Processes.

One of the most common mistakes construction companies make is not modernizing their manual processes. Maintaining an inventory of small tools and large tools is important to getting work done. Maintaining an inventory of tools and construction equipment is also crucial to a successful business model. I know what you’re thinking. That could take countless hours and would be a lot to maintain. Not with the right modern solution. A good piece of technology should be freeing up time and resources, not the other way around. 

Your tool inventory management solution needs to be reliable, simple to use, and from a company that is actively invested in small tool tracking and management. Once you have a basic inventory of your small tools, you’ll be able to easily see where they are, empower your employees to search, acquire, and trade on the spot, and fully realize the value of these assets that are there to make you money – not cost you. 

Tool tracking is a necessity for every construction company.

If you’re not tracking your tools, you are missing out on some serious benefits that can help save money, improve efficiency, and even increase safety.

By keeping track of your tools throughout the day, you can ensure that they’re always available when needed. This helps prevent downtime on site due to lack of equipment or employee error. It also makes it easier to ensure proper equipment maintenance so they continue operating at peak performance levels throughout their lifetime instead of deteriorating prematurely. 

We hope this has given you some insight into a few of the common mistakes that construction companies can avoid. By bringing focus to them, you can give yourself a better chance of success and avoid unnecessary delays or setbacks that can cost you time, money and resources.

We can help!

If you want to try out the easiest way to track your small tools, we invite you to learn more about ShareMyToolbox and get started with our free trial today.