Being self-employed as a licensed contractor in California is an interesting job. Get it right, and you could find yourself making more money than you ever thought possible while working on lots of fun and interesting projects. Get it wrong, and you may find yourself thinking about going back to work for someone else.
Interestingly enough, the difference between those two situations isn’t always in the quality of your work. Don’t get us wrong – you do need to do great work as a construction professional if you want your contracting company to succeed. But you also have to know there are lots of little things that can make or break your business. Here are three you should look out for:
#1 Paperwork
The construction industry is known for outdoor work, but that doesn’t mean there isn’t any paperwork to consider. There are always going to be a few forms (like contracts, statements, and tax filings) that you need to stay ahead of. Don’t neglect these important jobs. It might not be much fun to sit at a desk, but doing it for a few minutes a day can help you run your company and keep you out of trouble with the authorities.
#2 Marketing
Contractors can have a tendency to stop marketing their businesses once they become busy. But, even if you have too many projects on your plate at the moment, what happens when they are all finished? Unless you have lots of referrals coming in, you’ll need to keep looking for new customers. You don’t have to spend a lot of time or money on marketing, but it should be a continual activity.
#3 Your Reputation
Your reputation as a contractor is everything. If customers and coworkers think you’re trustworthy and do a great job, they’re going to tell other people about it. But if they think you aren’t worth hiring, or don’t treat people well, you can bet they’ll talk about that, too. A strong reputation can go a long way toward helping your business grow over time.
Success as a self-employed contractor is often a matter of balancing a lot of different things, especially when you’re brand new. Make sure you keep a close eye on your company’s paperwork, make marketing a consistent activity, and develop a good reputation among customers and other contractors. Get these three factors right, and you’ll be well on the way to building a profitable company that you love to work in!
Want to find out more about our programs and take the first step toward becoming a licensed contractor in California? Follow this link to contact the CSLS admissions team to learn about course options, schedules, and financial aid.
