Here are our top 7 tips on how to optimize your business, start the new season on a positive foot and smash your goals, regardless of where you’re at right now.
1. Set goals and stay focused.
In order to hit your goals – you first need to set them! If you haven’t already, don’t worry - it’s never too late to map out your vision. Make sure you have a clear idea of what you want and where you want your company to be.
2. Create a budget.
Formulate a detailed budget that covers the next 1.5 years. Include your anticipated budget as well as allowing for any unexpected expenses (because not everything goes to plan 24/7!) It’s always better to plan for the worst-case scenario and end up coming in underbudget than the alternative.
3. Evaluate your company and discuss.
Before the start of the season, evaluate exactly where you are with everything from sales, revenue and profit to your general goals and milestones. Communicate your findings with your team so everyone is on the right page and knows the plan of action going forward.
PRO TIP: Are you underpricing your jobs? You could be leaving money on the table. Learn about pricing your jobs correctly to ensure your margins and profits are healthy.
4. Don’t get comfortable.
Never stop optimizing your business. Do not get comfortable just because you’re on track to achieve a goal early. Life will always throw curveballs and it’s better to stay cautious even when you’re ahead, rather than to take it easy and be unable to deal with unexpected problems.
5. Don’t panic at setbacks.
Equally, if you’re running behind on a goal, don’t panic! It happens to the best of us and the smartest thing to do in this situation is to stay calm and plan. Think about how far you can reasonably get with your goal in the timeframe you have, and then put your plan into action! Keeping a level head and coming in slightly short on your goal is better than panicking and giving up completely.
6. Stay savvy.
Be strategic with the manpower and equipment you have available. Prioritize jobs that you’re good at and that bring in a higher profit. Schedule your days well so you can get as much work done as possible yourself, but don’t be afraid to offload extra work onto subcontractors. Do as much as you can, but never compromise quality to fit in extra jobs.
You can also take a look at year-round services, such as infrared patching and concrete grinding. Asphalt infrared patching can be done throughout the winter to repair potholes, seams, and other pavement safety hazards. With an infrared heater and asphalt rejuvenator, or an asphalt hot box, repairing asphalt is an easy process that can rake in some much-needed revenue before year-end.
7. Don’t be afraid to make difficult decisions.
Put your business first always. Don’t be afraid to let people go who are harming your company’s ability to meet goals, even if they are talented. Be compassionate and give people a chance to change things, yes. But do not tolerate repeated bad behaviour.
Above all else, remember that you’re only competing with yourself. Focus on your company and your company alone, setting a great example for your employees and subcontractors at all times. Learn from your mistakes, have targets in mind and keep a good track of them.
There are two types of contractors: those who make excuses, and those who find solutions.
Which one are you?