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Important Business Advice For New Construction Contractors

When going into the construction business as a new contractor there are some things you should always keep in mind on the business end. You know your trade and are almost certainly a master craftsman but unless you have operated your own business in any field, you may not be aware of some very important points that can significantly impact your bottom line.

The Importance of Customer Service

Of course you know that keeping the customer happy is vital to business growth but there are aspects to this which may not have occurred to you as a new contractor. With the dawning of the age of the internet, many new businesses tend to forget just how important word of mouth advertising is. In the construction industry this is really of vital importance to your company’s growth. Your work will be out there, visible, and good construction will always get noticed.

When asked who built this or who renovated that, your customers can be your best friends or your worst enemies. If you have not satisfied all their needs they will be the first to tell others not to use your services, that’s almost a guarantee. Looking to grow your business? Keep your customers happy and you will get repeat business and referrals as a result.

Setting a Timeframe and Sticking to It

One business practice which seems to have gone by the wayside in recent generations is the need to set a realistic timeframe for your projects and then doing everything in your power to complete them timely. Not only will this keep the customer happy enough to give you repeat business or refer you to friends and business acquaintances but other contractors may be waiting on the completion of your portion of the project before they can get in there and do their jobs.

Being unable to meet a time schedule will almost certainly irritate your customer but will also reap the wrath of other contractors who can do a great deal of damage to your company’s reputation. The best advice is to always try to set a timeframe with 10 to 15 per cent extra time at the end of the quote so that you have ‘room to breathe.’

The Need for Trusted Suppliers

With customer service and timely completion of projects being the top two ways to grow your business, it is essential that you understand the importance of locating and dealing only with trusted suppliers. If you are given sub-standard materials or that supplier isn’t prompt in delivery, your whole project can suffer as a consequence. For example, if you need steel reinforcement for walls you are constructing, a supplier like that has built a reputation on high quality steel fabrication and promises delivery mostly within 48 hours is a supplier you can count on to help you get your job done on time and with superior quality steel reinforcements. Nothing can bring a job crashing down quicker than suppliers who don’t have the same sense of business ethics that you do.

You are in the construction industry and are probably at the top of your craft. Since you know what it takes to get any given job done that you have bid on, it would be pointless to advise you on your own trade. Rather, it is important to understand the business side of your endeavour because, believe it or not, that is where most new companies fail. These few bits of advice can help you start up a lucrative construction contracting business because the community will see you as a contractor who cares. That’s the bottom line and one that is sure to help you build yours.

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