Aren’t all companies looking for ways to boost revenue? As a small contracting business, it can feel intimidating to try to bring in more revenue, but it’s definitely a gamble that’s worth taking. Business growth is never guaranteed, but without change, there’s no growth.
Our HFS team is all in when it comes to helping our contractors grow and bring in more business. So, let’s take a look at some ways that you can boost revenue in 2023.
1. Trim the Fat
We know all good business owners, like yourself, keep excellent records, but it can be challenging to keep up with every jot and tittle in your budget, especially with the day-to-day operations taking up so much of your time.
One way to boost revenue this year is to take a good long look at every aspect of your business spending. Look at what you’re spending across the board, from labor costs to materials costs.
You don’t necessarily want to reduce your costs just for the sake of reducing costs. But you should be aware and make certain that you’re spending your money well.
For example, ensuring your staff is well paid and satisfied can pay off in more efficient work, safer employees, and highly-qualified individuals. Check your spending, but only make cuts where you can really afford to.
2. Value Your Time and Work Properly
One simple way to boost revenue in 2023 is to simply make sure you price your services appropriately. One mistake that new contractors (and even some experienced ones) make is to undervalue their work. You can avoid this mistake and ensure that you boost revenue when you price your services where they should rightfully be.
Even small increases in price can really boost revenue over time. Take inflation and skill level into consideration when you’re reevaluating your pricing.
And remember to recommend contractor financing through HFS Financial to all of your clients, especially if you’re concerned that they might not want to pay more out of pocket for your services. HFS can provide your clients with the financial boost they need to pay for the quality services you provide.
3. New Clients Can Boost Revenue
One way good contracting businesses survive is by bringing in new clients. There are so many ways to ensure that you get the word out about your company, so you can constantly bring in new clients. And good growth (and an increase in revenue) requires new people to pour into your business.
To bring in those new clients, you can boost advertising, update your website, or improve your social media presence.
You can also make sure every potential client knows that you offer contractor financing through HFS Financial. You’d be surprised how many people are looking for financing options for their home improvement projects. Your financing option might just be the thing that sets you apart from the competition and helps you seal the deal on those new clients coming in.
4. Use Your HFS Financial Partnership to Your Advantage
And since you’re an amazing contractor, you’ve likely already partnered with HFS Financial to offer the best contractor financing to your clients. But are you really taking full advantage of it?
Make sure every single client knows about the great benefits of financing through HFS for almost any home improvement project they can think of. From swimming pool loans to new roof loans, HFS Financial has got you and your clients covered.
Encouraging your clients to use HFS Financial can really boost revenue for the 2023 year. Why wouldn’t your clients get the home improvement of their dreams if all it took was a little extra boost from HFS? And their boost can be your boost.
Tell your clients about HFS Financial, where orange is the new green. With HFS Financial, “You Dream It, We Finance It.”