For those wishing to start their own business, if you already have a trade then that can sometimes be a benefit to going it alone. Having your own business can be extremely rewarding but also very demanding trying to juggle of all the pressures and responsibilities of running your own company.
1. Do a great job every time
The quickest way to build up a new business is to ensure that your customers recognise the job you do. Reputation and quality of work are extremely important for tradesmen. Doing a good job is a great way to get new customers.
2. Build up a good reputation with your customers
Being recommended by your customers is the fastest way to build up your business and get new customers. A lot of business for traders will come from word of mouth from previous customers so doing a good job and installing that confidence in your past customers will help generate new business. Building up that reputation can be a good way to prepare yourself for when you start up your new business. Working part time and doing private jobs on top of your normal job can be a good way to lay the foundations for going it alone and building up that all in=important relationship.
3. Build trust with your customers
Building a good reputation is about building trust with your customers. Happy and satisfied customers are much more likely to recommend you to friends and family. Ensure you charge reasonable prices and set expectations around what you will charge for the work you will carry out. Preparing quotes is also very important given the online trade sites where customers can go to visit to get quotes. The biggest complaint customers will have is tradespeople not getting back to them.
4. Business is Business
Customers expect to pay the right price for good quality work so don’t be afraid to charge the right amount for the work you are carrying out. Part of your sales package will also be the fact that you are flexible and friendly to customers. This can set you aside from your competition and is extremely important for customers when they are selecting a tradesperson. You are also in business to make a profit and earn a decent living so having terms and conditions can ensure that there is transparency for all parties on the expectations of what will be charged and quality of work delivered. Any anticipated costs for unseen circumstances should also be clear for customers.
It is also not necessary to take every job that comes along if it is not right for you or your business. If the price is not right or you can see that a potential customer may be difficult then sometimes it may be best to walk away.
5. Be organised
Hiring an accountant can be a good way to ensure that your accounts are well organised and also to get the support required for starting your own business. Invoicing, tax returns and managing expenses can be time intensive tasks if not managed correctly so why not get some help allowing you to focus on your business.
Ensure your business operations are legal
Running your own business means there are many laws you need to follow and be aware of. These include health & Safety, Tax laws, Employment laws and statutory compliance to name just a few. Read up on all the legislation that you must follow and ensure that you have the right certificates and accreditations in place.
Starting your own business is exciting but also very challenging so make sure that you have a good business plan in place to guide you.