When you own a contractor business, it’s natural to want to improve and make it the best it can be. But it can be tricky if you don’t know where to start. Use the following contractor business tools for success in your company.
Implement Best Business Practices
One of the best contractor business tools is to implement best business practices for your company. This includes everything from scheduling projects, managing customer payments, and invoicing. There’s no set system for contractors, but it’s important to find one that works best for your business and stick with it. This will keep business operations consistent and running smoothly.
Establish A Network
You may not realize how important networking is for your contractor business. But aside from making connections with other local professionals in the industry, you can learn a lot. When you establish a network with other contractor businesses, you can troubleshoot with them as well as learn skills that will grow your company.
Marketing and Communications
Your work speaks volumes about your company. But if you don’t have a solid presence online, complete with strategic marketing and communications, you’re missing a major business tool for success. Make sure your contractor business is communicating effectively with customers through various channels. These can and should include your website, social media, email newsletters and blogs. Stay in touch with your client base to strengthen that connection and establish customer loyalty.
Hire Amazing Help
Managing employees can be time consuming. However, when you hire amazing employees, you can spend less time supervising. Choose to hire employees who are talented and have a strong work ethic. You can have confidence they will handle any task given to them and represent your company well. On top of that, they will raise the bar for the rest of your employees to be their best at all times.
Select Great Customers
Every contractor has experienced a challenging customer. It can come in the form of multiple changes throughout the project or even spending months tracking down payment. Learn how to identify people who will be great customers. You can call on your new network of industry professionals and ask if they have experience with someone. Or you can gauge it by how they treat your employees in their interactions or how they react when you ask for down payment.
Don’t Be Afraid to Outsource
As a business owner, it can be humbling to realize when you have too much going on. But when your workload gets to be too much, a critical business tool for success is to know when to outsource. There are only so many hours in the work week. If you and your crew are at their limit, don’t risk over-promising and not delivering. Instead, rely on that network you’ve built in the community. Hire others to finish a component of a big project instead of running your crew ragged.
Offer Financing to Your Customers
The most important tool for success is to offer contractor financing for your customers. You don’t have to worry about how to offer financing as a contractor when you partner with HFS Financial. Leave the financing to us, and we will pair your customers with the right option for their home improvement needs. We make it easy for them to get started. They simply need to complete a 60-second loan application. Call us today at 1-800-254-9560 for more information. “You Dream It, We Finance It.”