Contracting is a competitive industry. To stay at the top, you must commit to building a stronger business through more effective planning and high-quality work.
It can be difficult to assess your company for its strengths and weaknesses, but you can earn more clients, better teams, and more income when you improve your practices.
To get a better idea of where you need to improve, it’s a smart idea to start with the basics.
Get Up-to-Date Licensing
One of the most important steps to starting a contracting business is to become licensed. You will need a license in most states to choose or bid on any contracting work over a certain cost.
Licensing not only ensures that you are operating legally but also that you’re trained and skilled to perform the job. If you have an existing business already, you likely already have the licensing you need.
It does need to be renewed frequently, typically every two years, depending on location. How you renew your license also depends on where you are.
Tennessee
If your contracting business is in the state of Tennessee, you’ll need to renew every two years. Thankfully, the process is quite easy. In most cases, you’ll be able to renew after receiving eight hours of continuing education.
You won’t need to retake your initial exam again. You can even take Tennessee residential contractor continuing education prep courses entirely online to make the process easier.
Florida
Florida has many contractors, as it is a popular state for construction projects in both the residential and commercial sectors.
If you’re located here, it’s important to renew your license every two years, regardless of what type of license you hold (same as Tennessee).
However, you’ll need a little more continuing education—fourteen hours instead of eight.
Georgia
Georgia is another popular state for contractors, as many agricultural and industrial hubs require plenty of construction work.
While you need to renew your license every two years here as well, the amount of continuing education you need to do depends on the licensing type.
Licenses are split into many different categories here; you may not need to receive any continuing education, or you may need up to six hours each year.
Boost Your Marketing Game
You may not believe marketing is important as a contractor, but it’s one of the key tools to business success regardless of industry. You’ll want to create an online presence, including a professional website that invites clients to get to know you better.
You may even want to tap into search engine optimization (SEO) to ensure your website ranks higher on search engines like Google.
Social media is another great way to spread your brand. Don’t be afraid to hire a marketer to help you tailor your strategy for your location and industry (construction).
Revisit Your Business Plan
A business plan serves as the foundation of your brand. If you stray from your business plan, you and your team may not perform as well when goals aren’t aligned. Take a look at your original business plan and determine if those goals are still relevant.
Create a modified business plan if necessary. What are your goals in terms of your business’s size, team, and location? When you have a business plan more in tune with your goals, your team can work more efficiently to achieve those goals.
Network With Professionals
Networking is another valuable tool that businesses and professionals can use to spread their brand. Forming connections with other companies can help you with client outreach, competition, and securing jobs.
You may even find exclusive opportunities when you create professional relationships. Attend relevant industry conferences and engage with companies on social media to start networking.
Invest in Quality Equipment
If your equipment or tools have seen better days, you won’t be able to perform the job as well.
Your team may be stressed about getting work done on time or performing the job safely. If you want your business to reach its goals, you’re going to want to invest in high-quality equipment.
Get your tools and equipment inspected down to the nuts and bolts. Research top-of-the-line replacements when necessary. You can perform your job much better with the right tools, which can lead to faster project completion and happier workforces.
Improve Project Management Strategies
Your business won’t be able to succeed when you’re too focused on menial tasks. You’ll want to implement project management software and other tools to streamline routine work while you and your team can focus on the bigger picture.
When you have inadequate project management strategies, your work will lose quality in other measures.
Conclusion
Project management, high-quality equipment, efficient teamwork, and effective marketing can all combine to form a cohesive, successful business. You don’t want to slack in one area, as this can spread to others.
Don’t be afraid to hire help with marketing, project management, or other areas you’re less experienced with. Whether you’re a startup or looking to expand, focusing on quality, innovation, and efficiency can help you reach all of your contracting business goals.