Many tradespeople dream of starting their own trade business. There are many challenges to face when setting up your own trade business. It’s hard work but can be extremely rewarding. Check out our top tips to start you off on the right track.
Organisation is key
Getting organised is the most important business decision you ever make. If you fail to prepare you literally are preparing to fail!
Get your business registered with the correct authorities to ensure you are compliant with revenue (Taxes) and get your company structure set up correctly from legal perspective. Get your company insured and make sure your cover suits what your company does. Make sure you have all your certifications & trade qualifications documented so you are ready to meet any sign off requirements on site. Get registered with any institutions that are relevant to your trade ie; RGI, Safe Electric, SEAI etc.
All these action are extremely important and for your own protection. They will save you unlimited time and stress going forward.
Make sure that you stay on top of your paperwork trail. Get your invoice system in place and make sure you are proactive with invoicing. Record your transactions in a structured way. Go through it on a weekly basis so that you are not left dealing with a mess at the end of each month. Take time each day to respond to quote requests. The sooner you get back to a quote the more likely it is to get the job.
Unfortunately all of the above is just as important as the actual work you do on site. Start as you mean to go on and you will really benefit form being organised.
Be prepare to ‘Get Down to Business’
Before taking the plunge and going it alone ask yourself are ready to sustain your start-up company.
Do you have a pipeline of work ahead?
Do you have the resources in terms of Man power, tools & equipment and Finances to get through the challenges of Business life?
Take the time to be truly ready and gives yourself the best opportunity to succeed. In order for your trade business to succeed you need to be sure you ready to take on projects and to provide the best service possible.
Build up a great reputation
Word of mouth is one of the best forms of advertising (and it’s free). Provide a great service and your customers will tell their family and friends. Up to 70% of all jobs come by word of mouth so building up a great reputation is essential to keep your trade business flowing in the right direction. Honesty and good communication are great traits to have.
It’s business
Do good work and your business will flourish. Being friendly, flexible and providing quotes on time will keep your potential customers happy. Remember that you are running a business, don’t absorb unreasonable costs. Ensure that the customer knows that if hidden problems come to light during the job that have not been anticipated the cost of the job will increase.
Communication is key
Communicating with customers and the professionals involved in any project can help reduced potential issues. Giving clarity when quoting for projects helps to you set your customers’ expectations correctly and ensures you are both on the same page. It is essential to give an accurate quote so that the customer knows what to expect. Try ensure that your customer knows about hidden problems as soon as they come to light during the job. If the cost of the job is going to increase you need to make your customer aware of this immediately. Disputes are possible if the job ends up going over the quote even if the standard of work you have done is of an excellent quality.
Be a customer friendly business
Being approachable, friendly & flexible will bring work your direction. Remember that your customer may not understand the building process so try help them with good clear information. Also remember that you are running a business so be aware of your time and try not absorb unreasonable costs.