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Month: December 2018

How to Have A Good Contracting Business

How to Have A Good Contracting Business

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If you’re a licensed contractor who wants to start his/her own business, there are certain things you should do, have, or think about that will likely guarantee you will grow your business or create a business that can last long.

  • Get the right systems in place to run your business efficiently. From invoicing and scheduling to bookkeeping, use a system that helps you and your employees be efficient and effective.
  • Look for customer referrals.
  • How are people reviewing or rating you? Try to get positive customer reviews, especially publicly.
  • Do you have a high or low turnover rate? If people keep leaving, ask yourself why, or find out.
  • Focus on areas you need to improve your business before expanding your business in any way. Stay small to keep your cash flow higher if your profits are not going up. If your profits increase, then you can justify hiring more people for your team.
  • Work on communication skills and customer service.
  • Hire skilled, intelligent, independent workers who you don’t have to worry about.
  • Be available to your clients/customers.
  • Always pay attention to your finances so you don’t come up short in the end. Be prepared for all scenarios.
  • Join an industry association where you can network and work on forming and developing better skills.
  • Market your business on a website, social media, through email, and more. Go to networking events in your local area.
  • Work with or have someone with more experience than you to guide you.
  • Go above-and-beyond for customers so they will call you back and become repeat customers and refer you to others.
  • Make your business stand out. Choose a specialty to master.
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    Toyota sees a robot in every home

    Toyota sees a robot in every home

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    Well-known for its automated assembly lines, Toyota sees a not-so-far-off future in which robots transcend the factory and become commonplace in homes, helping with chores — and even offering companionship — in an aging society where a quarter of the population is over 65 and millions of seniors live alone.