10 Traits of Successful Contractors
At PRQ Exteriors, we have worked hard to create a strong brand and establish trust among both our employees and clients. We are often asked to discuss how we built our business and to share the secrets behind our success. While we strongly believe that there is no one magic formula to building and running a business, there are a few traits that all successful contractors have in common.
Today we are going to share the ten traits that we have seen in all successful contractors and discuss why each is important when running a contracting business. Keep reading below to learn more!
1. Positive Work Environment
At the core of every successful company is a positive work environment. Positive work environments encourage employee loyalty, dedication, and motivation. Focus on fostering a sense of safety, trust, and respect among your employees and always lead by example.
2. Attracting and Retaining Top Talent
At PRQ Exteriors, we believe that a company’s employees can make or break the business. When growing your business you want to lead with an employee-first attitude. In addition to fostering the positive environment discussed above, offer additional lifestyle benefits to your team. Perks such as reasonable paid time off, family leave, retirement savings plans, and comprehensive medical/dental packages should all be implemented to help attract and retain top talent.
3. Strategic Business Planning
Having a strategic business plan in place is crucial to the success of any organization. Start by defining your company’s monthly, quarterly, and yearly goals. Next, create a plan for each necessary step to achieve your goals. Establish metrics to measure success and be sure to revisit your goals often to stay on track.
4. Strong Risk Management Skills
The ability to mange risks is important for any business owner, but it is especially important for contractors. Take steps to recognize and mitigate potential risks to both your business as a whole and specific projects your team is working on.
5. Good Communication Skills
Not all contractors are natural born communicators and communication is not typically a skill at the forefront of a contractor’s mind. However, as a business owner you will find yourself in constant contact with employees, vendors, and clients and it is important that you understand how to appropriately communicate with each party.
6. Strategically Diversified Portfolios
As a contractor, you want to strategically diversify your portfolio. Having too broad a portfolio can confuse potential clients, but working in too narrow a niche will limit the number of projects you receive. At PRQ Exteriors, we believe it is important to determine a primary focus and then diversify your portfolio through various channels within that niche.
7. Flexibility and Adaptability
Being a contractor means that first and foremost you are providing a service to your clients. Your clients may change project plans, reevaluate budgets, and require new deadlines. As a service provider, you must continue to meet and exceed their expectations. Remaining flexible and adaptable throughout projects will help you meet ever changing client needs on time, every time.
8. Creative Eye
It is likely that you will work with clients who do not have a clear vision for a project. As the contractor, it is your job to get to know the client and create a project plan that matches their personality. This often requires tapping into the left side of your brain in order to create a masterpiece for the client.
9. Focus and Discipline
This industry often requires you to mange projects while working with hectic schedules, unpredictable weather, and evolving client needs. Successful contractors know that managing everything well requires a great deal of focus and discipline to stay organized under pressure.
The best contractors know that no matter how successful their businesses become they must remain humble and demonstrate humility. Mistakes, accidents, and delays are inevitable in this industry and a contractor must always know when to admit fault and apologize.
Whether you are a contractor that has found success over the years or you are looking for a contractor for your next project, the PRQ Exteriors team would love to hear from you! What traits do you think help make a contractor successful? Share your thoughts in the comments below!