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What's the most important thing to do in construction when you want to own a business?

Asked Laurel, Delaware

1 answer

Erica’s Answer

Updated

Running a successful business takes a lot. While I am not an expert in construction, my husband’s family used to own their own construction business. Here’s a few tips I would recommend:

1)     Have insurance that covers any jobs types you may work. This may take time to find the right insurance for the type of work you are trying to do.

2)     Have a tax accountant. You may like to have money saved up to ensure you can go a few months without jobs or have smaller jobs, this may not help you at tax time. Be careful and find a tax accountant that can provide you the guidance you need.

3)     Have a good system to ensure people calling for estimates isn’t wasting time. If you ask the right questions you can help yourself and your customer prior to ever scheduling an appointment to meet with them. A good example is a customer calls for a deck, they plan a budget that is small but want the most expensive decking around and do not have the money for that. Ask the right questions before scheduling an appointment so you are meeting with people that may actually hire you for the job.

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