What Makes A Tradesman Business Successful?
Starting your own tradesman business can be a rewarding experience. It can also be a difficult, challenging and time-consuming process! If you are wondering what makes a tradesman business successful then we have some top tips for you.
Have a business plan
The best way to create a business plan for your tradesman business is to start by listing all of the things that you need for your business. The bare-bones necessities for a tradesman usually include tools, a vehicle and public liability insurance.
You will also need to consider what your rates will be. They need to be enough for you to make a profit but also cover your time as well as fuel and other overheads.
Once you have your plan in place, do not forget to put time aside for marketing. You can use social media, websites & other methods to generate interest in your tradesman business. Think about what sort of content you will create for social media – will you showcase ‘before’ and ‘after’ photos? Will you create video content for Instagram and Tiktok? Will all your posts be advertising or will you be offering free advice too?
Think about the customer journey
When a customer needs to hire a tradesman, many of them are anxious about letting someone into their home or scared of being ripped off.
Thinking about the entire customer journey can help you to become successful.
Map out your customer’s journey from finding your business, enquiring about your services all the way to getting invoiced, paying and perhaps even being asked to leave a testimonial.
Once you have a customer journey in place it is worth asking a friend or family member to give you honest feedback about the process.
Manage cash flow
Many new businesses struggle to manage their cash flow, and this is so important when trying to be successful.
Managing cash flow means that you should get into the habit of invoicing on time, as well as requesting deposits before you start any work.
You might also want to consider asking for payments as milestones are met for bigger projects. For example, if you take on a 12 week project with just a deposit and you only invoice once the work is complete then that is 3 months with no cash coming in to your business.
You will also need a procedure for chasing up unpaid invoices, and a system in place for knowing when you will start a small claim’s court claim.
Build a good reputation
The reputation of a company is the opinion that other people have about it, which is usually based on its past behaviour. It is important for any company to manage their reputation by taking care of their customers and the public.
There are many ways to build and manage a company’s reputation such as being honest, having good customer service, being transparent, and showing appreciation for your customers.
Seeking feedback from your customers by way of testimonials and reviews helps build up a company’s reputation.
These tips will help your tradesman business to become successful.