Since I specialize in contractors and tradesmen, I’ve seen a lot of similarities in my client’s successes. A lot of these things may seem obvious but some aren’t. I’ll go into more detail about what puts these businesses above the average.
- Do a Good Job: Like I said, these may seem obvious but sometimes it’s the little things that can take your business’s reviews from good to fantastic. You can do small favors like changing out a burnt lightbulb, get to know your client’s needs, and always underpromise and overachieve.
- Communicate with your clients: This one applies to everyone with a business (myself included!). The root of most problems can come down to miscommunication so this type of skill is very important if you want your business to be successful.
- Avoiding problems with the IRS: When you’re starting your business, it’s important to work with a CPA as soon as possible. They can help to protect you from paying too much taxes as your business grows.
- Keep personal and business expenses separate: I can’t drill in the importance of this enough to my clients. Personal expenses in a business’s books are suspicious to the IRS, even if you have an explanation for it. Get a business bank account from the start to protect yourself and your business.
- Hiring a bookkeeper: As your business grows, your time will become more valuable, and most likely less available. It’s important to keep up with your record-keeping and bookkeeping, but this takes a lot of precious time. When you find yourself falling behind, it might be time to find a bookkeeper to help you out.
These are the five tips that I have noticed are the most common between my successful contractor and tradesmen clients. While these aren’t everything that make a business work, they’re a good start and you will most likely find your own success traits. Here’s to a long and fruitful entrepreneurial journey!
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