Advice from the Experts Before Starting your Contracting Business
Congratulations! Starting your own construction business is a fulfilling and successful career choice. There are bound to be hurdles. But through our many years of working with contractors, we’ve heard a few things from the best of the best. Here is their advice of mistakes to avoid: Hiring reliable workers: Having a high turnover rate doesn’t bode well for a reputation. Although it very well may be that you’ve had bad luck in the hiring field, it could also raise a few questions. Underestimating your business startup: You probably have faith in your contracting skills. Do you have faith in the other component of a contracting business, namely the “business” portion? Running a business is a business in and of its own! There is payroll, overhead, buying materials in bulk, etc. Going in blind: To piggy back off the last piece of advice, not having a detailed plan for starting your business is important! Basically, invoke Murphy’s Law and think of everything that can go wrong and begin to find solutions for them. Do you need a surety bond? What equipment do you need? How will you handle your employees? What benefits will you provide? Build a good, scratch...
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