Residential construction is a rapidly growing industry in the United States.
In fact, home improvement spending has significantly increased from $100 billion in 2011 to $523B billion this year and is expected to reach whopping $570B in 2021.
Great news, isn’t it?
You know what that means for you – 2018 is the best time to grow your business.
Top Mistakes to Avoid as a Contractor
There isn’t a fool-proof plan to a startup success. But to better your chances of growing ‘big’ this year, it’s worth learning about the most common mistakes that sabotage many contractors like you from achieving their goals.
1. Not customizing your CV.
Your resume can make a lasting impression on your potential clients. Therefore, it should reflect your skills, qualifications, training and background, and work experience. It’s not enough that you keep your CV updated. You should also tailor it every project you’re bidding for to get the best results.
2. Not saving for the rainy days.
It’s not every month that you have a project. If you want to ensure that you have enough funds, you have to be wise about spending. Moreover, it’s not enough to just earn more business. Each work you take should be profitable to make up for the weeks and months that you won’t have enough projects.
3. Not observing good housekeeping practices.
Want to stand out from your competitors? Implement housekeeping practices among your workers. No homeowner would like to have a messy house. Keeping it sparkly will not be possible but you can minimize the mess and secure the site. For example, you can cover the area with enough tarps to keep it tidy. Also, make sure to store away your tools or pile them up neatly in one place if the work will take more than a day. This does not only keep the worksite clean but also prevents accidents especially if the homeowner’s family are around during the renovation.
4. Not paying attention to creating a professional image.
First impression last, right? The way you and your workers look and present themselves definitely make an impact on potential clients. If you were the customer, who would you rather trust doing business with – workers who are neat and look well put together, or those who look like they haven’t brushed their hair yet? Establishing a professional image is important if you want to gain the trust of your potential clients. This doesn’t mean that your workers should start wearing suits and ties. A neat and tidy clothing goes a long way in creating a good first impression.
5. Not updating your skill set.
While you may have undergone necessary training before launching your construction business, you should aim to keep yourself educated with the latest trends and technology in your industry. The more you know, the more projects you can handle. This translates to more potential clients and great offers.
6. Bidding for one project at a time.
Apply for multiple contract opportunities. This way, you stand more chance of getting numerous interviews which should hopefully lead to numerous contract offers. This should go hand in hand with the previous point – updating your skill set. When you have the knowledge and skills, you can confidently bid for various types of project.
7. Not being proactive with marketing.
Even though the demand for residential construction is increasing, this does not mean that you should just sit back and expect more work to come your way. Expand your network. Constantly reach out to architects, homeowners, land developers, and general contractors and proactively seek opportunities to grow your business.
2018 is definitely a great year to grow your construction business. And as more and more people invest in home improvement, you have every opportunity to make your business more profitable. But one error can sabotage all your efforts in one blow.
Sure – it’s by committing mistakes that we learn. But you need not go through it all to uncover the lesson. By learning about these top mistakes to avoid as a contractor, you’re one step closer to ‘constructing’ a solid foundation for your business and paving your way to success.
Author:
Megan is a writer, a DIY geek, a camping lover and a happy mom of 2 who works with Grizzly Tarps. She writes just about anything, from giving you an advice on how to go about your date to sharing her personal experience in relationship how tos.
