As a construction business owner, you know how easy it is to make a mistake.
The top mistakes are worth looking out for because you don’t want them to derail you in the future. That’s why we’ve listed them here.
No plan
Start a business without a plan? You’re setting yourself up for failure. Even if you’ve been successful for years, it’s vital you set one up.
“But I’ve been smashing it for years, mate, I know what I’m doing!” Trust us when we say we’ve heard this kind of arrogance in the past – it always comes back to bite you.
Talk to an accountant, a business adviser (or us) or even a friend about the future of your business and where you want to be in a year or two. It makes a world of difference and will set you up for proper success.
No money? Get a loan…
Free money! If only that were true. We’ve seen so many blokes get won over by the promise of a loan, only to get stung when it comes round to actually paying everything off.
Loans are great if they open up new opportunities for your business, and many firms use them as a way to grow. But it ain’t worth risking it unless you’ve weighed up the pros and cons thoroughly, and you’ve planned how you’re going to pay it back.
A typical construction startup can cost around £45,000 to £90,000 to run, including equipment, staff, and so on.
We’d advise getting at least 20% of that before you even think about a loan – but always ask for advice first.
Not qualified
Ever since you were a kid, you’ve known how to fix stuff. Why do you need a qualification? If you’re a plumber, electrician or landscaper, you’ll know how important it is to show that you’re qualified at what you do.
Getting to a level of certification means many things and shouldn’t be overlooked. You’ll appear more professional to your clients, learn more about your trade, and vitally avoid getting on the wrong side of the law and regulators.
They don’t like businesses operating without the proper paperwork, funnily enough.
Don’t risk your reputation – get certified.
Chasing the wrong clients
Sometimes you just want to make your clients happy, no matter the cost. Whether you’re staying late, working through your lunch, or offering to do things you don’t usually provide, you just can’t seem to impress them.
But this kind of client is a nightmare. They’ll likely see they can take you for a ride and abuse their power. Get a contract sorted early doors, and save yourself any extra hassle.
Not marketing yourself
Trust us when we say that marketing is vital for your success. You must market yourself to get the best customers and create a brand people will recognise.
Not looking after your gear
It’s easy to finish each week and not take stock of everything you have – what needs maintaining, what are you low on?
If you don’t look after your gear there’s a good chance you’ll be stung by it further down the line, right when you’re at your busiest.
Just saying yes
“No worries, mate, I can do that.”
But can you, though?
It’s not worth risking your time and effort if you’re already overworked. Keeping your clients happy isn’t as important as your sanity. Chances are you’re already working hard, so make sure you can take on that extra work before you do it.
Who needs insurance?
You do. Don’t do anything without insurance. It’s just not worth the risk.
Not hiring any more staff
Your team makes your life easier: without them, you’d be working twenty-hour days. They come with a cost, though, and sometimes it’s hard to bring yourself to hire a new team member.
But you could find a new young grafter to bring some added enthusiasm to your team or reap the benefits of an apprentice through subsidised labour from the Government. We can help you with that one – give us a shout.
Not listening to your clients
Without your clients, you’d have nothing to do. So make sure you listen to them. What do they need? Are you helping them with their schedule?
Sometimes it can be easy to get caught up in the trap of just ploughing through the work, but this might unsettle some clients.
Speak to them and find out how they like to work. They’ll thank ya’ for it.
Talk to us
At the end of the day, no mistake is unrecoverable – get in touch today to see how we can help.