18 Nov Self-Employed Builders: Are You Ready To Grow Your Business?
As a self-employed builder, you already have your own company, of sorts. You are likely to have the odd major construction firm that uses your services, and may even get the odd private job here and there. However, it’s often the case that you feel that you could provide a better service to people than those you currently work for.
If this sounds familiar, perhaps it is time to start thinking about growing your business. Small builders can do well, of course – but there is much more opportunity out there to take on bigger, more profitable projects. The question is – are you ready to make the leap? There’s a lot to think about, so read on to find out more.
Are you organised?
Organising yourself to be on-site on any given day is one thing. But arranging many workers and projects on different sites is another altogether. Internal organisation is crucial, so get your house in order before contemplating taking people on and trying to grow into a larger firm. Often, you might be better off hiring someone to help with your admin rather than employing another builder at first. You may even benefit from hiring an HR professional, too, who can help you fill your positions with the right people.
Do you have the money?
Even if you grow steadily and only hire contractors to help you on specific projects, you will still need significant funding. There will be equipment to buy, of course. More tools, specialist gear, and perhaps even diggers and trucks. There is the cost of regular servicing to consider, too. For example, hydraulic hose repairs might be necessary for your equipment and machinery – and you will need to get it fast. Any delay you experience on-site will be losing you money. So, a relationship with a reputable repair company will do save costs in the long-term.
Are you good with money?
It’s not a bad life being a contractor. You turn up, do your job, and get paid – that’s it. When you are arranging projects yourself, however, there is a lot more to consider. You will need to find the cheapest possible parts and materials to do a great job, without affecting your build quality. You need to know how to price a job perfectly, or your customers will be furious when you go over budget. And, of course, you will need to establish a decent amount of savings so you can pay workers – perhaps before you get paid by the customer.
Are you good with people?
The construction industry is full of cowboys, unfortunately. And, a lot of these cowboys have a lot of charm and persuasion skills. They wow customers with their friendliness, and develop trust fast – only to let them down at a later date. Your job is to match their charm and assuring nature – and always deliver the project on time, and on budget.
Can you promote your business?
Marketing is critical for any business, and while word of mouth still works, it is essential that you invest in other avenues. In simple terms, you cannot grow without gaining new clients and moving into new areas. And you can’t get these critical ingredients without marketing.
So, are you ready to grow your building business? It might be a little harder than you think – feel free to leave your suggestions in the comments section below!