It’s a new year, and with the new year comes a new chance for your contractor clients to grow their business. But growth doesn’t happen by itself. Instead, much like our personal new year’s resolutions, growth requires a willingness to take a hard look at our strengths and weaknesses, and seek out means to improve and develop.
Unlike new year’s resolutions which are often forgotten by February 1st, a plan for growth will require a commitment that lasts through the coming year and beyond.
We want to help your contractor clients to grow their businesses. That’s why we’re suggesting seven new year’s resolutions for their businesses, along with an article offering great advice to get them started.
1. RESOLUTION: Develop a Marketing Plan
Your contractor clients can do the best work in town. They can deliver projects on time and on budget and walk away from a project with a satisfied project owner every time.
But if no one knows about it, will it help them grow their business?
2. RESOLUTION: Build a Digital Marketing Plan
The fact is, more and more people don’t go to the yellow pages or their local business directory; they go to Google. That’s why, as your clients develop a marketing plan, they’ll want to develop their online presence
3. RESOLUTION: Develop Your Professional Network
If your contractor clients are ready to grow their businesses, they’ll need help. As an agent, you can play an important role in connecting your clients with the resources available in the community. This will allow them to create a more efficient, organized and productive business.
4. RESOLUTION: Create A Growth Plan
For many of your contractor clients, there is a point in the life of their business where they feel that they are ready to grow. In recent articles, we’ve discussed the questions that your contractor clients should ask themselves to determine if they’re ready to grow.
5. RESOLUTION: Get Bonded for Public Projects
From Texas to Florida to New York, cities, counties, states and the federal government are all spending money on publicly funded infrastructure projects. When you combine that with a tight labor market for skilled contractors, it means that there are enormous opportunities for contractor clients seeking to get bonded for these projects for the first time.
6. RESOLUTION: Create a Succession Management Plan
The baby boom generation starts turning seventy this year. That means many of your contractor clients are looking toward retirement. Before they do, it’s critical that they have a well defined succession management plan in place. Otherwise, they run the risk of jeopardizing both the business that they’ve built and their plans for retirement.
7. RESOLUTION: Improve Your Cash Flow
When a contractor comes to you to request a bond in the non-standard market, it’s usually because they are dealing with debt and credit issues. While there are many reasons why contractors can face these issues, one of the key problems is how they manage their cash flow.
Whether you’re looking back or looking forward, you can put Cinium’s experience to work for you. Schedule a free consultation today, or call (855) 4-CINIUM.