One Thing Every Contractor Should do During the Holidays
Happy Holidays from CSLS!
Although you undoubtedly have a lot of plans for the holiday season, most of them probably don’t have much to do with your California contracting business. That’s a good idea – we hope you’re enjoying some time with friends and family without worrying too much about work.
But, we do think there is one thing every California contractor should do during the holidays: Look back over the previous year and see if there are any lessons to be learned or conclusions to be drawn.
Sometimes, the very best improvements and breakthroughs come when you’re relaxed and not thinking about the day-to-day rigors of running a contracting company. What sorts of things might you discover by peeking back through your calendar, proposals, and invoices? Here are just a few things to look for:
Did you win as many projects as you should have? In other words, how many of your proposals turned into actual work? Is there something that you’re doing with your bid that could help you win more of them in the future?
Was there a certain type of project you really enjoy? Although a lot of contractors start out as generalists, many find that they enjoy certain types of construction projects more than others. That’s when it’s time to consider refocusing your business, or possibly even attending further classes to earn a specialty certification.
Which marketing techniques showed the most promise? If you’re like most contractors, the majority of your projects probably came from positive word-of-mouth. But, look for other sources of new work. Did you find clients from fliers, ads, or a new website?
Were there any employees or situations that were more hassle than they were worth? Sometimes, certain employees or types of projects just don’t work out the way we had hoped they would. Now is a good time to look and see if there’s any part of your company you need to pay more attention to going forward.
How would you like to see your business change for the coming year? This is a big question, but it’s also the most important one. Beyond simply “making more money,” think about what kinds of growth you’d like to see in your business, and how you might create it.
Naturally, this list of questions could go on and on, but the point is that the end of the year is a great time for reflection. You don’t need to spend lots of hours looking back through your year to figure out what went right and wrong, just review your records and look for the obvious. Once you find it, you’ll be well on the way to a better 2014!
