Published September 5th, 2019
Successful contractors understand the key to running a profitable business starts with a plan. Whether its planning your next job, your next estimate or just your day in general, every move must be carefully planned and executed with precision. Making more money for your company is no different, and you must have a plan in place to generate more income for your contracting business. Here are three activities every contractor can do to make more money.
Increase Your Visibility
As a contractor, you want potential clients to be aware of your business and the services you offer. In other words, you want your business to be visible. Performing great work at excellent prices doesn't help you much if potential clients can't find you or don't know who you are. Ways of increasing your visibility include utilizing online marketing such as a website and social media and equipping all of your trucks and vehicles with signage that include your phone number and web address. Consider signing up for one of the more popular online home improvement specialist search sites such as Home Advisor or Angie's List, too. You may have to pay for your listing, but landing one solid contract will more than make up for any listing and ad placement fees incurred along the way.
Sell Yourself, Sell Your Business
Making more money as a contractor has just as much to do with selling yourself as it does selling your services. Simple ways to sell yourself include dressing in a more professional manner when going out to perform estimates or consultations. Looking the part of a professional provides you with instant credibility and makes a great impression on your clients as well as your business associates. You should have a collared shirt with your company's name and, ideally, your logo. Introduce yourself with a handshake, a business card and a smile.
In fact, the sales process begins when a prospective client calls your business or visits your website for the first time. Answering the phone with "thank you for calling...." and following up with a name tells the client you are a professional and you have credibility. Likewise, promptly replying to email inquiries, voice messages and online reviews are all ways that you can present yourself and your business as professional and credible.
Following up with past clients as well as with potential new clients is perhaps one of the most underutilized methods contractors use for landing new contracts and ultimately making more money. Following up is one activity many contractors simply forget to practice, and it typically ends up costing them down the line. Developing a procedure for following up with past clients such as creating calendar entries two or three weeks from the date you finished a project is just one way to make sure you are consistent in your work and making your clients happy. For example, you might want to call to check on how they are enjoying the new addition you recently built or the driveway you just put in. Doing so will reinforce your level of professionalism plus your dedication to your craft.
Also, don't be shy about asking for reviews and referrals as well. If a client expresses their pleasure with your work, then try to utilize that your advantage. Typically, past clients are more than happy to take a few minutes and leave you a nice review on Google or Angie's List. It doesn't take long to email them a link to your profiles or even ask for a brief testimonial for your website. It will increase your company's reputation for performing solid work while also providing you with some valuable feedback regarding your quality of work and the client's overall level of satisfaction. The benefits of following up with clients will also lead to more clients and more contracts down the line, too. Word-of-mouth is still the most powerful marketing tool available to contractors who want to make more money.
These are only a few of the ways you can make more money as a contractor. By making yourself more visible, selling yourself alongside your services and following up consistently with past clients, you will put yourself in position to be more profitable and make more money.
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