Are you prepared to kick off the New Year with a bang?
For many small businesses in the construction industry, January and February can be slower months. Let’s talk about things you can do now to make sure you give your business the best start in 2020 – and ways to maximise the quieter times by working ON your business, not just IN it.
Here is our checklist to help you boost your business in this coming year…
1. Review
This is a step many business owners don’t make the time for, but this is key to help you focus your efforts where they will make the most impact in the new year.
Review 2019 – what worked and what didn’t? Where were you spending money that isn’t necessary (software you never use, subscriptions you don’t need, etc.), and where was the majority of your income coming from? If there are certain jobs or clients that bring in most of your cash flow, how can you market to or target those more in 2020?
2. Nurture & upsell
Get in touch with your past clients and see if they have made any resolutions to finally upgrade their old deck or build that alfresco area they’ve been wanting for years. Can we give examples of jobs for plumbers and electricians?
If you have built something for them in the past – how could you upsell another service to them? If you fixed their leaking tap, could you help them with their gutters? built them a deck, can you contact them with a special deal to add a pergola to make the most of the summer months? If they already know, like and trust you, they are a warm lead and easier job to win!
3. Improve systems
The quieter months are the perfect time to test out a new job management software to streamline your workflow and keep your teams on track. There are more and more software solutions out there that are designed for the trades industry and could enable you to level up your service and profits in 2020.
Spend less time finding job information, chasing invoices and tracking your time and expenses – improving your systems now will make the rest of the year more productive and more profitable!
4. New Year, New Look
Is it time to freshen up your look so your business stands out from the crowd?
If you have a great, recognisable brand across your vehicles, team uniforms, website and advertising materials, you look sharp, professional and trustworthy.
This is one of the best ways to build brand awareness and help your customers feel confident that your team are the experts. If you have had the same old, branded work gear and your vehicles are starting to look beat up and run down, it might be time to invest in a new look for 2020.
5. Invest in new tools and equipment
Don’t wait until a tool dies on the job and sets you back hours while you find a replacement – do an inventory and service on all your tools and equipment now and see what needs upgrading and replacing.
Maybe switching to electric tools would allow you to spend less time servicing throughout the year, and prevent your team being forced to take breaks on the job when they run out of fuel. Take stock and invest now, so you can complete your jobs faster and more efficiently – while saving time and money.
6. Plan out your cash flow
By looking at past years, and taking into account any investments you need to make to prepare for the new year, you should be able to get a good idea of what you will need to get your business in the best position for growth.
Now is a great time to look into any short-term cash injections you might need to reduce stress, pay your teams and invest now for rewards later.
OnDeck offer unsecured, small business loans with flexible repayment schedules which don’t require you to put any of your valuable assets on the line. It doesn’t matter if you just need a $10k boost, or want to make a bigger investment in marketing, a new vehicle or crucial bit of equipment, our short-term loans are an easy, 10-min online application and get the money to you in as little as a day.
Can we help your business grow in 2020?
Talk to our team today on 1800 676 652,or apply online now – here’s to your success this New Year!
