How to Build a Successful Contracting Business Part 3
With steep competition, success in the construction industry is never a guarantee. As we discussed in part one and part two of this six-part article, experienced and talented contractors can build a successful contracting business over time by creating a business plan and implementing a comprehensive financial strategy. In this section, we will discuss how contractors should partner with an Orlando construction lawyer to ensure they are in compliance with federal and state laws before they begin to work on projects.
Register Your Business
Even with years of experience in the construction industry and an excellent reputation, starting a business is an exciting new venture that entails dotting all the I’s and crossing all the T’s before you can begin work. For starters, you will want to register your business name, insure your business, and create a bank account for your business. You will also need to legally structure your business. Incorporating your business may help you obtain financing, avoid potential liability pitfalls, and qualify to bid on certain government projects, among other benefits.
Operating Your Business
If you want to start your own contracting business, chances are that you have experience working in the industry and you know the practices that work best for you to utilize moving forward. When starting a business, the goal is to get all of your workers on the same page to ensure that you are operating effectively and efficiently. Although creating a cohesive system takes time, it can be achieved by training your workers and making certain that they understand each task and why you approach these assignments the way you do. Regardless of the undertaking, when employees understand your company business practices across-the-board, this creates successful enterprises that have the ability to scale out over time.
Along with creating reliable business operations, you must always maintain a professional atmosphere that attracts prospective clients. Here are some ways contractors can attract more business by the way they conduct themselves:
- Always dress and act the part. It’s important to exceed expectations when meeting a new client.
- Answer the phone professionally. Create a voice message that appropriately represents your business. Respond to emails and messages promptly while using correct grammar and spell checking.
- If you are operating your business from your home, meet prospective clients in a professional setting or utilize part of your living space strictly for your business.
For more information on building a successful contracting business, please read sections four, five, and six.
If you would like to speak with one of our Orlando construction lawyers, please contact us today.
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.