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Take Your Construction Industry Business to the Next Level by Developing and Practicing a Growth Mindset​

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We’ve all heard the phrase, “It’s hard to teach an old dog new tricks.” However, with an ever-changing construction market, this mindset can limit individuals and businesses from reaching full potential. Instead, adopting a growth mindset that seeks continuous education and improvement will strengthen your ability to pivot when necessary, find alternatives to meet changing demands, and turn challenges into opportunities.

Schedule intentional time to learn new skills.

With constant demands in the construction industry, finding time for new learning can seem almost impossible. Still, being open to scheduling time to acquire new skills will proactively enhance your opportunity for growth.

This can be achieved through methods such as: training on new technologies and software, attending industry conferences, enhancing leadership skills with a business coach, or exploring budget and time saving strategies with prospective trade partners, clients & peers.

Be willing to pivot.

It can be difficult to stray from plans that have taken months of time and effort to develop, but holding on to strategies that aren’t delivering and concepts that aren’t performing well can constrain your timelines, budgets, and sanity. Be open to changes and proactively seek opportunities to adjust. If revisions must be made, know your contractual agreements and maintain active communication with partners to collaborate in a way that minimizes additional costs, time, and legal risk.

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Technology in Construction

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Construction Management is an integral part of the construction industry, responsible for ensuring that projects are completed on time, within budget and to the required quality standards. As the construction industry evolves, Wallace Construction Management is evolving with it. Construction Teams now have more tools to streamline communication & quality processes, with a multitude of options to choose from, here are some of our favorites:

  • Construction Management Software: Procore and Fieldwire are two examples of programs we utilize every day. These applications help streamline the construction process, improve communication, and can store documents in the cloud. It also provides a real-time update of projects and better allows the team to collaborate.
  • Drone Technology: Drone Deploy is one of our most applied drone applications. This program takes thousands of shots during a project rendering a 3D orthomosaic model. Drones are becoming increasingly popular in the construction industry for their ability to capture high-resolution images and data and provide an aerial view of the construction site. We use our drone religiously to ensure we have visuals of an entire site multiple times throughout the life of a project. We can use these photos to look back on if we are unable to make it out to the site.

 

  • Cloud Based Collaboration Spaces: Many people are familiar with programs like Google Sheets and Excel Online, but our top cloud-based collaboration space is Smartsheets. One of the biggest components of our job is to ensure the client is up to date on any task, change, or item related to their project. With a cloud-based space, we can update our client in real time on plan changes, schedules, upcoming tasks, etc. This saves time for everyone and creates a space that holds all project related information to keep the entire team updated.

The construction industry is rapidly evolving, and development teams have access to a range of technologies that can help to streamline processes, reduce waste, and ensure higher quality projects. By embracing these technologies, construction managers can drastically improve the development experience for clients, contractors, and even themselves!

Article by Kelly Stewart, Commercial Division

 
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Why Having the Right Construction Management Will Save You Time and Money

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Third Party Construction Management can significantly benefit the success of a construction project, especially when it comes to saving money for the owner-developer. By utilizing a construction management company like Wallace Construction Management, Owners can save both time and money, and have a smoother, more efficient construction experience.

Wallace Construction Management has extensive experience in the construction industry and a team of professionals who are trained in project management, scheduling, and budgeting throughout difference types of development. This expertise allows them to handle the many tasks and responsibilities involved in a construction project, freeing up the Owner’s time to focus on other important business matters. 

By hiring a construction management company, owners also avoid the hassle of dealing with multiple consultants, design professionals, contractors, suppliers, and other parties involved in the construction process. A construction management company will take care of all the coordination and communication between these parties, ensuring a seamless process and reducing the risk of delays or mistakes. Wallace Construction Management can also save owners money by reducing the risk of overspending. We have a deep understanding of construction costs and will create a realistic budget for the project and keep costs under control throughout the construction process. Additionally, we maintain strong relationships with contractors, suppliers, and other industry professionals, and are often able to negotiate better pricing for materials and labor. This can result in significant cost savings for the Owner. Our team is trained to ensure the work is done to the highest standards, and that the end product meets all required specifications. This reduces the risk of costly rework and helps to ensure that the project stays within budget. Wallace Construction Management offer Owners a cost-effective and efficient solution to the complex and time-consuming process of construction. By saving time and money, improving the quality of work, and reducing the risk of overspending, owners can have a smoother, more successful construction experience.

By: Tyler Dirks – Tdirks@wallace-mgt.com

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The Power of Trade Relationships

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By: CEO Jordan Wallace January 18th, 2023

How are we creating value? I often reflect on projects, those that were successful and those that had more challenges to overcome. By opinion, it came down to the working history with those involved thru expectations, communication, and experience. Listening from both ends of the bench brought the best team solutions. Most of those reading this hopefully appreciate the unexpected phone calls we’ve made just to check in and see where we can support their business. Those calls are intentional, because we want to look out for those that look out for the projects, we’re assisting with delivering for Clients. Finding those opportunities creates small increments of trust.

Wallace Construction Management genuinely cares about Design groups, Consultants, Contractors, and Suppliers’ success. There is no relationship without those phone calls and learning about their business. At certain times when projects find a challenge, it makes the important phone calls meaningful and the response in return is resolute. In 2023, the company’s mission is to continue to sustain that trust by finding solutions for trade partners and clients.

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Primed for Success

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For Jordan Wallace, the construction business is as much about building relationships as it is setting concrete and steel beams. Not that Wallace Construction Management hasn’t done plenty of the latter over the last several years. From helping retailers expand across the country to building multifamily housing in Texas that accentuates both community and sustainability, this boutique firm is no stranger to big-time work. Central to the success of their clients, W-MGT functions as an all-inclusive master developer whose construction management approach begins by collaborating with developers, property owners and architects nationwide to deliver projects catered specifically for the end user’s interests.

Our added value is our experience,” says Wallace, the company’s president of construction management. “And we offer an intimacy of involvement with our developers. We build programs to support their projects from the planning phase to the final inspection.”

What’s in store
Recently, much of W-MGT’s commercial work has been in the automotive sector, highlighted by the design and construction of O’Reilly Auto Parts stores and Service King Collision Repair centers in the South and Midwest.

With O’Reilly having grown by acquisitions and new construction for several years, 6S Development has hired W-MGT to manage construction of multiple new stores in 2020 in Michigan, Kentucky, Illinois and Washington.

“From a production standpoint, we have the right contractor relationships in place geographically and put together a qualified team to efficiently execute a quick project,” Wallace says.

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The Power of Who

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What if you already knew everyone you already needed to know? In the age of social media, tech marketing, guru masterclasses, etc. there’s a consistent barrage of information and voices telling you what you need to do next to “level up” in life. What if all these options weren’t propelling you, but actually slowing you down? This is the dilemma I see plaguing the current generation. We’re comparing our lives to an unreal (for the most part) Instagram story and believing we’re behind. We live in an environment of dog eat dog, survival of the fittest, and thinking you must be the expert to have a seat at the table, yet I’ve learned the opposite to be true. Slower is faster, less is more, and quality over quantity, will lead me to a sustainable life the vast majority desires of their future. Being an elder millennial (1986), I’m realizing that the most powerful relationships in my life have not come from sheer number of acquaintances, but rather the depth of a few.

So how does this effect business? In every way. What if you stopped trying to build your network and rather invested in the ones you already have influence with? What if you stopped trying to grow externally and began to focus internally on your Who? Determining your Who is the starting block to running the business race well. Here’s a few key items for identifying your Who:


– Who are the key relationships in my life (top 12, 3, and 1)
– Who are the key business relationships already present?
– Who are the relationships I can trust? (Proven track record of honesty & loyalty)
– Who are those that I desire to see “WIN” in life?

When you are clear and confident on the list compiled above, I can ensure you that you are well on your way to a successful future. Don’t spend countless hours tracking down leads of people that do not know you or aren’t vested in your overall success. See, the people on the “Who” list genuinely care and desire to see you thrive in life so why wouldn’t they connect you to the right person (their Who) or team to see those desires manifest. I’ve also heard it said this way, “Find your people and you’ll discover your purpose. Find your purpose and it’ll reveal your destiny. Find your destiny and you’ve fulfilled a life worth living.”


As the adage goes, “It’s not what you know, but who you know,” I hope this reminder helps reset the way you think about Who you’re surrounded by and the power available for us all.


By: Eric Gibson