When you are a subcontractor, some issues can be problematic, and so can threaten the survival of your business. Fortunately, you can find out how to not just survive but thrive in this situation as well. In fact, all you need do is read the advice in the post below.
Make Sure You Get Your Bidding Process Right
Firstly, bidding for jobs is likely to be one of the most critical aspects of your business. After all, if your customers don’t know what you will charge for your services, they won’t be able to make a decision as to whether to go with you or not.
Of course, that means you need your bidding process to be as effective and efficient as possible. Part of achieving this is having a semi or entirely automated system that can create a detailed bid without you having to waste time doing this repetitive task by hand.
Additionally, making sure that you have the correct licenses to be eligible to bid in the locations that you are working is vital. Something that companies like AtHomePrep can help you study for. In fact, as they have a no pass no-fee strategy, this is a very money-efficient way of taking such tests.
Also, be sure not to let yourself get too carried away when writing bids. After all, if it is for a high paying job, it can be tempting to be a perfectionist and put as much effort into what you are writing as humanly possible.
However, what you need to remember here that not all bids come to fruition. Something that means there is a good chance that all the effort you are putting in will go to waste. With that in mind, be sure to set yourself an upper limit when it comes to the time it takes to create a bid. Otherwise, you may end up wasting valuable time that you could spend promoting and improving other parts of your business.
Focus Your Energy on Effective Client Communication
Client communication is another crucial part of thriving as a contracting business. This is because your clients are the ones that will be paying you after all is said and done. Therefore, staying on good terms with them, and keeping them updated as the job progresses is an integral part of this.
In fact, being proactive with your client communication can actually help to save a lot of stress and hassle down the line. One reason for this is that by staying in regular contact with your client, you can keep them updated on progress and any problems that you come across. Something that can help to manage their expectations if there are any delays and prevent things from turning sour.
Additionally, you can demonstrate your professionalism by going to your client and showing that you have identified a problem and are already on the case of fixing it. This is something that is bound to impress them, and may even help you to secure repeat business.
Finally, when it comes to excellent client communication, you are much less likely to run into problems with needy clients. In fact, you can minimize this issue by doing all you can to pass on vital information to them as it presents itself. This being a tactic that is a much more efficient use of your employee’s time that having to stop every five seconds to deal with an angry customer.
Don’t Forget to Collect Some Money Upfront
Controversial it may be. However, those that want to thrive need to secure some of the total payment before a job starts. This is because, unfortunately, even if everything does go to plan, some clients will be reluctant to pay on time. If at all. A situation that can mean your business get behind with its debts and wages and can create a significant threat to its longevity.
With that in mind, asking for a deposit at the start of a job, with two additional payments for the rest as the work continues and you hit agreed milestones can really help.
In fact, it means that even if a client does become difficult and refuses to pay your business doesn’t end up out of pocket. Something that will help to ensure that it not only survives but thrives in the current market and over the long term as well.
In summary, if you want to be around for the long term as a subcontracted, there are several things you need to do. The first is to bid right while the second is to offer excellent communication with your clients. Lastly, do not forget to secure at least some of the payment upfront if you want to maximize your success.