The goal of every small business is to be successful, grow, and last for decades into the future. Unfortunately, the vast majority of startups never get that far and don’t make it beyond their first year of work. If you’re starting up a contracting business, you’re facing a great deal of competition, a very difficult field, and one that is fraught with peril and pitfalls.
That being said, it can also be among the most rewarding careers there are, and most of these pitfalls can be avoided with the right knowledge. With that in mind, here are some vital tips and tricks for how to grow your small contracting business, including information on where to get the best, fastest and most trusted surety services.
Educate Yourself on Best Practices
Just because you have an idea of how to do something, and that idea works for you, that doesn’t mean it’s the best practice. Running a business is a constant process of learning and adaptation; you should constantly be reviewing the latest industry journals and publications and applying best practices to improve your own operations. This goes for everything from bookkeeping to hiring and safety procedures.
Join Industry Associations
Industry professional associations are a great way to network, to keep up with the latest developments and trends, and to take advantage of resources and developments you might otherwise not even know exist. For contractors, such associations include Associated Builders and Contractors, Associated General Contractors, the Government Contractors Association and others.
Do your research and find the best associations that match what you do, and what you want to do. Sign up, and take advantage of the resources they have to offer. This can be a big step in improving your customer base. Register your company with the Better Business Bureau.
Marketing
Marketing goes hand in hand with industry associations, which can provide access to recommendations and an increased customer base. It’s vital to get your name out there. Get a Google business profile and keep it up to date. Create a website with useful and valuable content that will bring people back time and again.
Get social media accounts on LinkedIn, Pinterest and other services. Register with your local Chamber of Commerce. Build an email list of existing clients. Attend trade shows to get new clients. The more you can do to get your name out, the better off you’ll be.
Get Surety Services and Bonding
There’s no better way to show that you have the credentials to complete a job than to get the best surety bonding services. Businesses that are bonded are showing that they will finish the job they’re contracted to do. It shows you can be trusted, not just by your clients, but by your subcontractors and suppliers as well.
If you want to bid on government jobs, which is essential to your growth as a company, you’ll need specialized surety services to obtain the bonds you need. For many years, NSSI has been focused on helping small businesses get the bonding they need with our small contractors specialty program. Get in touch with us for more information today.