Welcome to 2020! Millions of American’s have made New Year’s resolutions or at a minimum have set some personal goals for the new year. While many resolutions are personal (like joining the gym, eating better, losing a bad habit, or just wanting to be a better person), many business owners also make resolutions for their businesses.
Here is a top 10 list of resolutions that every contractor can make to improve your business and life in 2020:
- Make more time for yourself. Focusing on your business and putting the time in is essential to your success. So too is ensuring you make the time for yourself and your family. In 2020, make the time for vacation or take a day to read a book that will rejuvenate you.
- Invest in yourself and your team. There is a time to work and a time to learn. Invest in yourself and/or your team by attending some conferences, trainings, or even a webinar. As the industry changes, law changes, and technology evolves, there are opportunities for growth that can separate you from your competition… but, you have to learn and know what the changes are to take advantage of them.
- Use new technologies. Using newer technologies is a part of doing business. It can help your business become more efficient by tracking activities on job sites, daily reporting, and data analysis. Drones can also help by accessing the conditions of work sites without the need to put yourself or another in a dangerous situation.
- Spend more time on marketing. Finding new clients is vital to the growth of your company. Depending on your business model, you might consider networking more often or showing your projects from beginning to end on social media (if allowed by your client or general contractor or is appropriate).
- Focus on safety. Perhaps you successfully implemented a safety program in 2019 or not. Regardless, it’s important to have a safety program in place every year. This is a good time to evaluate any safety procedures or identify trainings in 2020 that will keep your company in safety compliance as well as make your business more profitable.
- Launch a new website. A new website is a great way to freshen your business up and give a new professional image to your prospective clients. A website, or lack of, says much about your business. Testimonials and quotes, as well as a portfolio of completed projects are a great way to demonstrate your work and professionalism.
- Learn a new construction specialty. If you’ve mastered your business model or discovered a unique position in your marketplace to exploit, it may be time to expand your capabilities. The more projects you are qualified for, the more you can bid out or accept jobs – or charge for them.
- Allow extra time for each project – Time management is an essential component to your contracting business. There is a balance between scheduling just enough time and not enough. Many contractors make the mistake of not giving themselves enough time on a project and end up rushing to meet a deadline. That’s when bad things can happen. You want to ensure you have enough time on every project to do it right the first time and to everyone’s satisfaction.
- Shoot for 100% customer satisfaction. The best way to get new work is through old work. Repeat business is the result of customer satisfaction. There is an old saying that the real profits are in repeat work since there are no direct marketing or advertising costs. Make your general contractors or clients happy and you’ll earn referrals, testimonials, and repeat work from them.
- Save money for the unexpected. Your savings account is vital to your long-term success. There will be slowdowns, equipment that breaks, and expenses that come out of nowhere. Put a percentage of each project back into your company’s savings account to plan for the unexpected.
