Growing your home improvement business involves taking a lot of steps along the way. But as you work through each of these steps, you should think about yourself differently. You’re a business owner first and a builder second. That doesn’t mean your work should go to the wayside though.
But you have to consider the bigger picture. Determine how your business will grow, what resources to invest in, and how you’ll market your business. Here are seven tips for growing your home improvement business.
1. Have a Vision
How do you want to grow your business? You shouldn’t just take on any project that comes your way. You should determine how you will plan to grow and expand your business. Do you want to attract larger projects or smaller jobs?
Do you want to specialize in a certain area, such as additions, LEED-certified renovations, new home builds, or solar roofing? Do you want to specialize in dock construction? Having a specialty can help you stand out among from your competitors in the industry, especially when people search for a specific service on the internet. Most people tend to trust specialists over generalists.
2. Look at Your Resources
How do you attract more customers? How do you plan to serve those customers once you get them? Take a look at the resources you already use. Will you need more dock accessories and dock supplies?
Do you need to invest in more equipment and technology? Do you need more dock material? Hire someone who can oversee the project as well as your materials. As business improves, so will your workload — and you’ll need more equipment and more people to handle it. Think carefully about how you plan to scale your business as demand grows.
3. Build a Great Team
The moment that your business grows, you won’t be able to handle it all by yourself. But even if you hire more people, you may still want things to be done the way you did them. Resist this urge to jump in and help. Allow your employees to do what you hired them to do.
If you feel confident about their skills, then be confident in their ability to perform well on the job. Set expectations and train them the skills they need, and then let them get to work. Don’t micromanage your workers. This will prove to them that you don’t have confidence in their skills.
4. Use Word of Mouth
Word of mouth advertising is not something that can be invested with money. You don’t invest in this form of advertising the way you do with a Facebook Ads campaign. But you will invest in the time it takes to complete a job to perfection and to respond to customer concerns in an efficient manner. You will also invest in how you treat each of your customers.
Customers who love your business will tell others about it and can become the best resource for referrals and repeat business. It’s important to treat them well. No matter what project you’re working on, your customers should become your main priority.
5. Find New Opportunities
Your business will flourish through word of mouth, but it’s important to find other opportunities that come across your path. That involves connecting with others in your community and networking at business conferences and events. You should always be on the lookout for architects, contractors, homeowners, and other professionals in your field. You should also network with professionals who have the same customer base that you do.
Maybe you can both team up to better serve the community. Maybe you can help promote each other’s business or services. The more you reach out to others, the more opportunities you create for yourself.
6. Invest in Technology
When you’re investing in the right technology, it’s all about the right tools. You may have the right dock accessories and dock supplies, but you need technology tools as well. They can help you get work done quickly, more efficiently, and without the unnecessary stress. High-quality technology propels your business forward, so invest in e-mail marketing tools that help you attract more customers. You should also use up-to-date dock material and equipment for each project that you work on.
7. Take Risks
Growing your dock construction business involves some sort of risk. But most of those risks can pay off in the long run. For most home improvement businesses, it’s worth some of those risks. However, you don’t want to grow your business so much that you come across legal problems and other issues. Talk to a lawyer to ensure that your contracts are up to date and the terms are clear.
Put NDAs and non-compete agreements in place. Consider environmental risks and regulations, insurance coverage questions, labor issues, and union policies that will be included with this increased growth. Determine how you will handle each of these risks as time goes on, so you’re not unprepared at the wrong time.
Enjoy what you do. Your business is at its peak and there are plenty of opportunities ahead. These tips should help you take the first step and to keep working to where you want to be.