starting a business?

Written By Tyler Zimmerman

Vitolda Klein

Most folks know how to start a business when they are in the contracting world, but for those that do not, I have compiled a quick checklist of things in no particular order for you to think about when getting started. The work can be grueling, and not the actual physical labor, but the leg work and constant upkeep needed to keep your business afloat.

I failed as a contractor in 2011, and looking back I wish I would have stuck it out for another few months as the turn was upon us but it felt like I was drowning, and some moments are like that. The rewards however can be and are tremendous as you navigate the seas of business and the ebbs and flows of the economical cycles.

Stick with it, find a mentor, ask questions and put your fears aside, this is the AMERICAN DREAM.

This is what its all about, and we don’t have nearly enough people to handle the workload that is upon us. GOOD LUCK




1. Define Your Services and Target Market:

  • Identify your niche: Will you specialize in a specific type of work (e.g., electrical, plumbing, roofing) or offer general contracting services? 

  • Determine your target market: Who are your ideal clients (e.g., homeowners, businesses, developers)? 

  • Consider your strengths and experience:Focus on areas where you excel and have the most expertise. 

 

2. Develop a Business Plan:

  • Outline your business goals: What are your short-term and long-term objectives? 

  • Conduct market research: Analyze your competition and identify opportunities in your local area. 

  • Create a financial plan: Project your startup costs, revenue, and expenses. 

  • Determine your pricing strategy: How will you charge for your services (e.g., hourly, project-based)? 

 

3. Register Your Business:

  • Choose a business structure: Sole proprietorship, LLC, or corporation. 

  • Obtain necessary licenses and permits:This varies depending on your location and type of work. 

  • Register your business name: Ensure the name is available and doesn't infringe on existing trademarks. 

 

4. Open a Business Bank Account:

  • Separate personal and business finances:This helps with tracking income and expenses and simplifies tax preparation. 

 

5. Obtain Insurance:

  • General liability insurance: Protects your business from claims related to property damage or injuries.

  • Workers' compensation insurance: Covers your employees in case of work-related injuries.

  • Professional liability insurance: Protects against claims of negligence or errors in your work. 

 

6. Market Your Services:

  • Create a website and social media presence: Showcase your services and build your brand. 

  • Network with other contractors and industry professionals: Build relationships and generate leads. 

  • Seek out local business opportunities:Attend networking events and join local business organizations. 

  • Get customer reviews and testimonials:Positive reviews build trust and credibility. 

 

7. Ongoing Operations:

  • Manage your finances effectively: Track your income and expenses, and stay on top of your taxes. 

  • Provide excellent customer service: Build strong relationships with your clients. 

  • Stay up-to-date on industry trends and regulations: Continuously learn and improve your skills. 



And most importantly, DO GREAT WORK!!

Be undeniable and price will come with it.

Tyler Zimmerman http://www.industriousbritches.com
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