A lot of stuff is going-on on social media about contractors that if they are up to defending their profits there will be a lot less struggling contractors. The perception that contractors make more than 35% profit is rolling around social media. We spoke with a concrete contractor in Escondido to get more information on why this is. So if you as a contractor are still struggling, here are the possible reasons why:
- Getting poor training – Where contractors get their training can have a great effect on how they carry on with their business. If trained by the wrong person, you will end up struggling to find your way up the industry.
- Know your numbers – Know what you are doing and the charges you should be charging so as to obtain the maximum profits.
To thrive in the contractor’s industry you need the following
Have a mindset that fully believes you can pull deals off
Having the right mindset will give you the morale to press on even when there are challenges. If you have positive thoughts about your business, you will be able to give all the input into it. Write down your goals and act on them to achieve the best results.
Going into the business with confidence that you are worth the price
Confidence conquers all odds. Being confident about what you have to offer gives you the power to charge your services the right way. Confidence will enable you to sell yourself and stand out from other contractors offering the same services. If you are not confident enough, you will not be able to negotiate prices and most of all not able to close a lot of deals.
Presenting yourself well as a professional contractor
A professional knows what he wants and what he can offer. The market today is competitive and only the strong and bold entrepreneurs can survive. As a contractor, you need to present yourself as a professional. Connect with people, follow up on your services, engage with them, and gain their trust. You can also connect with professional contractors who are ahead of you. This will help you get ideas on how they got where they are. As a professional you need to be:
- Be on time for meetings
- Your appearance will matter. Some people are really sensitive about who they hire. Looking presentable will increase trust from your potential clients.
- be disciplined with spending money
Create ways to play with the cost of goods
Very high material cost in the industry today is really a challenge to contractors as they struggle to minimize the cost and increase the profits. Determine how to play around with numbers, write down what material costs, the labor costs. Keep track and understand the best way to minimize costs.
Start identifying with people. You justify that you want more money or charge more because of how you are connecting with people. Be understanding patient and listen to customers.