Contractors face new challenges every year, and the start of a new year is always a good time to make practical resolutions, so the business will grow and be successful. One of the considerations is choosing a contractor license school, so required educational requirements can be completed easily and conveniently. This helps a contractor avoid scrambling when a license is about to expire.
Keep Up to Date on Insurance and Licensing
Since contractors are busy people, it can be easy to forget to check on insurance and licensing. The first of the year is a good time to check on current insurance policies and make updates where needed. In addition, keep in mind that a certain number of hours of continuing education are required to renew a contractor’s license. Getting that requirement out of the way early on can help avoid problems later when a license is due to expire, but the requirements haven’t been met.
Take Steps to Protect Your Assets
Holding your assets in your name alone can make a contractor vulnerable if something goes terribly wrong during a construction project. By forming an S-corporation or limited liability company, liability becomes limited, and personal assets are protected in most cases. Tax savings may also be considerable, but consulting with a tax specialist would be a good idea to see which would type of corporation would be most beneficial.
Think About Joining New Associations
Networking, learning new ideas by word of mouth and hearing about news on proposed local projects is easier when a contractor is associated with other members of the profession. This can help with public relations, enhance a contractor’s credentials and has numerous other benefits.
Become Connected to Social Media
Social media is an area that is frequently overlooked by contractors to help boost business. However, social media, such as Facebook and Twitter, gives potential clients an opportunity to ask questions and get answers. Since clients are more likely to hire a contractor whom they believe they can trust and with whom they have established an acquaintance, this might be a good time to build social media accounts and put them to use.
Ask Satisfied Clients to Post Reviews
While word of mouth is helpful, having positive reviews posted on sites such as Yelp or Angie’s List can have even more positive benefits. Starting in 2017, make it a point to ask clients if they would post a review or write a recommendation for a job well done. Keep recommendations together in a portfolio, and post positive reviews on your own website or social media pages.
Look at Ways to Cut Costs Without Compromising Quality and Safety
There are a number of ways to cut costs. A contractor who is building a single-family housing development might benefit from the use of a drone to do inspections, keep up with progress and monitor employees. Software that estimates construction costs can also save money, and accurate estimations are an important part of a contractor’s job. Software programs geared toward the construction industry can not only tell a contractor how much of each material will be needed but estimate the cost.
Update Contracts If Necessary
Having a well-prepared contract is necessary in order for the contractor to get paid in a timely manner and provides protection for the business. If a contract does not include clauses that cover hidden conditions or order changes, it might be a good idea to address these issues. In addition, ensure that a provision is included in contracts that provides for the payment of attorney’s fees in the event it is necessary to file an action against a client for nonpayment.
Take Required Relicensing Courses Early
For most New Year’s resolutions, a contractor is on his or her own to make improvements in efficiency and helpful changes to improve the business. PDH Contractor Academy helps out with continuing education requirements by offering both correspondence and online courses to make contractor license school a breeze. Our courses are available for numerous states and will satisfy your state’s requirements for your license renewal. In addition to a good support service, we offer pricing that will fit your budget. To find out more, browse courses by state or to start course.