How Can Contractors Thrive Long Term?

March 07, 2022

Regardless of what industry you’re in, working as a contractor can be a tough gig. Your pay may be unpredictable, it can take time to build steady income, and you have to work hard in order to sustain your success. It’s unsurprising, then, that many people find they’re not cut out for long term contracting. Working for another company is far less complicated. Still, there are some intrepid individuals who do best in a contracting role. If you’re one of these people, and you’re wondering how to grow your contracting business, read the following four tips for success.

Always Deliver on Promises

One of the most important steps towards success for contractors is a genuine commitment to client satisfaction. This means that you must always deliver on the promises you make. Did you offer to deliver an order by a certain date? Did you assure a client that you can produce a certain number of goods on a tight deadline? Commitments like these are important to your clients, and they’re even more important to the reputation of your business. It’s vital that you deliver whatever you offer a client — every time.

Build Strong Client Relationships

Delivering on your promises is the first step toward building a business. It’s also the foundation of relationships with your clients. In many cases, clients will do business with an individual contractor instead of a major company because of the relationship they have with the contractor. A relationship allows you to understand your clients’ needs, tailor your service to them, and deliver exactly what they’re looking for. To accomplish this, you need to invest in your clients and get to know them better.

Offer Competitive and Fair Rates

In order to be a successful contractor, you must be skilled in your given industry. Of course, skill alone isn’t enough to ensure success. Your rates are an equally important factor. Unfortunately, though, contractors often make the mistake of either over- or undercharging their clients. Remember that every client is a potential long-term relationship, and a few long-term relationships can be more lucrative than a series of short-term stints. To determine the best rates, look at prices charged by nearby contractors who offer similar services.

Sell Yourself to Prospective Clients

You have the skill, you’re charging a fair rate, and you’re ready for the business to start pouring in. Success will typically require a little more effort, though, in the form of advertising. There are many operational costs that you need to account for, including contractors insurance and promotional expenses. You can invest in affordable advertising campaigns on search engines and social media, and you can find the best contractors insurance by researching different insurance policies.

About Brooks, Todd & McNeil

Since 1839, the independent agents at Brooks, Todd & McNeil have been pleased to offer our community the best and most affordable policies from a variety of providers. Our dedicated facilitators are ready to put their 75 years of combined experience to work on your claims. To learn more about our products and services, contact us today at (800) 448-4567.