How Contractors Lose Money Part 2
When running a construction business there are a number of pitfalls that can inhibit your success. The construction business is lucrative but it’s not without its challenges. Competition is fierce, there are a number of people to manage and regulations to follow. Unfortunately, some contractors make it even more difficult to achieve success because of the mistakes that they make.
There are a number of common mistakes that contractors make with each project that cost them a great deal of money. We presented three of them in the first part of this series. Here are three more to consider along with tips for avoiding mistakes in the future.
Not Marketing Your Services
You may be a contractor, but you’re also a salesperson. Every business owner is a salesperson. Even if you have a great and well-earned reputation in the industry, there’s a lot of competition. It’s imperative that you find a way to market your services to the larger community. Whether it’s mailers, sponsorship, or SEO, it’s critical to find new methods for gaining leads.
It’s estimated that nearly 12 percent of masonry materials per project goes to waste. This adds up over time. It also costs to dispose of these materials. Better estimating based on data from previous jobs is the best way to combat this trend.
Lack of Organization
Being unorganized will damage any business, but in an industry that requires such precise attention to detail, it’s especially detrimental. If you aren’t scheduling your jobs correctly, it can lead to delays, and possibly conflicts. While a Jacksonville construction attorney at Cotney Attorneys & Consultants can assist you in those manners, you never want it to come to that.
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Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.