Running a tradie business? It’s not always easy to keep on top of it all and make sure that everything is working according to plan (if you don’t have a business plan, get one sorted, stat!). So we’re back with our tradie business tips to help you out – this time, we’ve got 5 business mistakes to avoid!
1. Taking on too much yourself
If you’re like most tradies in business, you’ve likely got a tonne of years of actual hands-on experience behind you. But make sure you have a great team who you trust to get the job done, and delegate where you can. Most of your time should be spent growing your business, not on the tools.
2. Being too flexible with clients
Sure, a bit of flexibility never hurts with a good mate every now and then, but make sure you keep an eye on your bottom line. Letting every client get away with making late payments is not the way to keep your tradie business running, so make an invoicing and payment schedule and stick to it.
3. Dismissing the power of the web
Nowadays, most people will be searching for your business via a few different online platforms, including social media. If you don’t have a presence here, you need to make it a priority. Update your website and post regularly to your social pages to help potential clients find you when they need to.
4. Not having any structure or goals
Every tradie business owner needs to have a business plan. You need to have goals and a plan to reach them, otherwise you won’t be going very far. Get a cash flow forecast sorted (we recommend getting the professionals in for this one) to see where you’re making and losing money the most.
5. Not getting your business covered
Shameless plug here, but this is what we do best, and because we were built for tradies by tradies, Cactus can get you sorted with whatever you need – from LBP professional indemnity insurance, to contract works cover for you and your team.