Starting your own business gives you the opportunity and the freedom to work on your own terms, but it also takes a lot to start up a business and ensure that it will be successful. If you’re interested in starting your own contracting business, here are some tips and steps to help you get started.
Steps to Starting Your Business
#1: Get Education and Experience
Before you can start your own business, you have to know what contracting work entails. Fortunately, you can learn these skills at trade or vocational schools, and it only takes about two years to complete. You also receive on-the-job training during your studies, providing you with valuable experience before you complete your program. Once you’ve completed your program and passed all exams, you’ll be able to get your contractor’s license.
#2: Write Up a Business Plan
Once you’re licensed you can begin working for a company or do some freelance work. If you want a full-fledged business, you’ll need to create a business plan that will detail everything you need to start and run your business. You’ll also want to accurately project your earnings five years into the future to give potential investors a good idea of how successful your business will be.
#3: Secure All Things Needed to Run Your Business
Next on the list is to find a commercial property for your business. You can operate from home when you’re just starting, but eventually, you may want to have a separate location for your business. You’ll also need things like tools and equipment and a company vehicle to carry all of these tools and equipment.
With that being said, you’ll also need commercial property insurance for your building and equipment, commercial auto insurance for your company vehicle, workers’ compensation insurance if you hire employees, and general liability insurance. Make sure all of your insurance and legal needs are taken care of before you open for business.
#4: Create a Business Website
Even though you’re going to be operating your business in person, you’ll still benefit from having a company website. Your website should have photos of your work from school and past projects so your future clients will know what to expect, and it should also have contact information listed, such as your business address, phone number, and email address.
Tips for Success
Marketing Strategies
People may not know that you have opened the doors to your business if you haven’t done any advertising. You can use traditional forms of advertising such as ads in the local newspaper and posting flyers around town, but to reach the biggest possible audience you’ll need to market over the internet.
This is where your business website can help with marketing, especially if you have a blog section. Consult a digital marketing expert on SEO (search engine optimization) strategies to use on your website and blog to help you gain more clients. You should also create business profiles on social media to advertise to and interact with people in your local community.
Promotional Items
Once you’ve started getting your first few jobs, consider giving away promotional items to help spread the word about your business while thanking your clients for choosing your company. These can be things like hats, T-shirts, and keychains— something small (that has your company logo on it) as a gift.
You can also benefit from promotional items in your actual building, such as pens/pencils, business cards, clipboards, and promotional calendars. Finally, you should also have company uniforms (this can be something as simple as a polo shirt) with your company name and logo displayed on them. You’ll want to put your company name and logo on as many things as possible to advertise your business.
As always, don’t forget to practice good customer service. You can be the most talented contractor out there, but not many people will hire a rude contractor. Always place your clients’ needs before your own and listen to all of their questions and concerns.
