Tips for Growing a Successful Contracting Business

Contractors

Contractors are an important part of any industry. When acting as a contractor, it is important to have clearly laid out terms with your client. Contracts in the construction business need to protect both the contractor and the client, so as to have a good and professional working relationship.

Having a contracting business is not easy. You are most likely to face a number of challenges that can prove very tough to deal with, especially when you are not sufficiently prepared. The main key to running a successful contracting business is trying to minimize the challenges as much as you can.

Here are a few tips that will help you grow your contracting business.

1. Evaluate Your Business

You need to thoroughly assess your company. Ask yourself if your business is financially stable, if you have referrals and repeat sales, how people rate you and your customer service, and how high or low your employee turnover rate is.

If you have the answers to these questions, review what people are saying about you online and improve on the areas that raise eyebrows in the wrong way. For example, if you lack good customer service then you can consider training yourself and staff on the best practices for providing better customer service.

2. Run Your Construction Business with Best Practices

Even though there are set practices and standards in the construction and remodeling industry when it comes to building and structural quality, there aren’t a definitive set of rules when it comes to the quality of service you provide. This can provide a difficult path to follow when growing your business. The best thing you can do is to research and develop the best system that can assist you with running the affairs of your company smoothly from invoicing, bookkeeping, scheduling, training, and general management.

When the system you implement as a business is effective and provides an excellent service your customers, you’ll be able to consistently build upon your momentum and success as a business.

3. Join an Association

Contractors associations are not just meant for networking, they can help you grow your skills. Some other benefits of joining an association, including helping you determine how to charge clients, how to write proper contracts, and how current local trends in sales and design are moving in your area.

Associations can introduce you to new ways of doing business and work together with companies that can link you up with potential clients.

4. Be Available

Try to always be there when customers need you. Even if you have to expand your team and hire new employees to handle your operational tasks as you grow. When you have all your bases covered and are available when the phone rings, customers will be more trusting and confident in your services.

Never forget to call back your customers whenever you miss their call whether it be after-hours or during a time you were not able to take their call.

You should also state your business hours to make sure that customers do not get upset when they call and don’t get to talk to someone. Take advantage of digital technology and set automated email and social media messages when you or your employees aren’t able to reply in real-time.

5. Market Like a Pro

For any business to thrive, it needs to have a good marketing strategy. Do not just market to get more customers but let your marketing campaign be about growing your brand, making your customers happy and having bigger and better projects.

Your marketing strategy should have all your customers wants and needs in mind. As you build your marketing portfolio with things like literature, videos, blog posts and more, you’ll have a library of content you can direct your client towards to find what they need for the project or questions at hand.

Focus on both local and online customers. Cast your net far and have a clear channel of communication.

6. Don’t be Rigid

If you have a specific field as a contractor, do not turn away a customer who is seeking services outside your comfort zone. Instead, you can provide value to them by being honest and explaining to them that you might not offer that service, but know of another trusted contractor who does.

You probably already have a network of contracting businesses that aren’t competing with services, so be sure to work with these connections to help each other and your customers.

If you can also fix a minor challenge that your customers have while working for them, then just go ahead and do that. In other words, do not let your customer look for another serviceman if they have signed a contract with you just because of a small issue. Try to look for ways to provide value to them. You can even outsource if you have to.

These small extra steps can go a long way in securing a lifetime returning customer or obtaining referrals from their family and friends!

7. Manage Your Finances Well

Businesses close down because of poorly managed finances. When it comes to handling money, you need to always step on top of your game. Pay attention to every expense and do not sign any contract before thoroughly going through the cost.

You might just end up giving your customer a discount that you have to pay for in the long run. Whenever you bid for a job, factor in everything including materials and labor.

Always have a budget for each project and one for the business too. By setting a budget, you will be able to know how much money is coming in and from which project. It will also let you know how much you have used and in what categories of the business.

Setting up spending and income tracking will also let you identify areas where you can spend more or where you should cut-back.

8. Find a Way to Set Yourself Apart

What is it that makes you unique from your competitors? Find out what is common among the contractors around you and do something that they do not do. It could be as simple as working together with another company who offers different services within the home, but you don’t compete with each other.

For example, working together with an interior design company will give you an advantage in your finished products. People are always looking for a different way from the normal and doing this can just get you to the top.

Grow Your Construction Business Easily Through Partnership

If you are a contractor in the construction or remodeling business, you definitely have realized the market shift. It’s become apparent that in today’s market, you need to be different. Clients are more detailed and prefer a classic and artistic finish for their structures.

Grow your business by relying on a team of skilled and professional team on your side. Our expert designers along with the team in our beautiful showroom are the perfect combination for your remodeling business.

Schedule a meeting today for more information regarding the unique and quality services we offer.