Tips for Starting a Business as a Remodeling Contractor

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Hi Folks,

I was recently checking out the latest construction news at ContractorTalk.com and came across an article I’d like to share with you. 

“Thinking About Going Out On Your Own?” Click Link Here

I figured I’d share this just as a tool for all of you that own your own business, or hope to one day. In this article, ContractorTalk notes that owning your own business is both exciting and invigorating, sometimes so much so that you stray course of your main objective – making money. There is no doubt it’s great to get out and work for yourself, create your own hours and manage other people, but it is so much more complicated than this. As many of you know, owning your own business essentially means no days off. If you want your business to succeed, to thrive, you have got to be working around the clock. You have turned from the guy who does the work, to the guy that dictates it. This includes far more than just the remodeling or estimating, you’ve got to worry about the cash, the resources, your inventory, management and many more. Below are a few tips to keep you on track:

Know Your Legal Needs

The rules vary state by state, but you’ll want to do your research and find out whether you will need a license, if you need to be bonded, or even what kind of insurance you should carry. As a new business owner, you should register your business, filing all the correct paperwork. Taking legal requirements seriously is the difference between being considered a legitimate business and a non-legitimate one. It can also be the means to protect you from a potential lawsuit if a remodel job goes south.

Set your Course

Know where you are headed before you even start your business. Where do you want to be six months from now? How many remodel jobs do you want to have done? Home many home renovations do we need to break even? It is important to lay out some milestones, gauging progress in your business. Framework for launch is a fantastic organizational key, use it to know exactly what you need and expect in the coming months and years. Not only is a plan useful for you though, it is a necessity if you want to secure any investors in your business. People will only buy in if they can believe your vision.

Know Your Limits

As a new business owner you are going to want to do it all by yourself. Don’t. Most of us are not good at everything. You might be an excellent guy for a remodeling job, but you can’t operate a computer, so don’t build the website. If someone else needs to do the estimating, let them, don’t try and take it all on at once. Hire out a professional to complete some of your tasks, it lowers the burden on you and ensures that it is getting done properly.

Communication is Key

The face of your company is everything. Obtaining new customers as well as retaining the one’s you have hinges on your ability to provide them with a quality, friendly service. Brush up on your communication skills, make sure your spelling is on par. Effective communication can take you a long way.

Hope these tips for starting a business as a remodeling contractor help! Get out there and grow your business!

 

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