4 Tips for Maximizing Slow Times in Your Business
You’ve taken the biggest step – you formed your own business and went for it. The next step is keeping your business going, even when times are tough. Here are 4 ideas to maximize your slow times:
1. Pro-bono work
When business is slow and you’re worried about where and when a next paycheck is coming from, offer your services to nearby senior citizens. Hang up flyers at local breakfast spots and other places where seniors gather. Offer to do small handy-type and/or seasonal jobs, such as furnace filter change outs, roof inspections, battery and light bulb changes, etc. for free or a small trade. You may be surprised by the amazing support you’ll get from the community when word gets out that you’re there to help. The smallest jobs can often create the biggest leads.
When business is slow, take that time to teach yourself and your crew new skills. Your rough carpenters might benefit from learning how to miter corners or route an ogee edge, or if you do roofing already, you might send you and your crew to training for metal roofing installation. By furthering your training, you’ll be better equipped to take on new business.
Hook up with other contractors or construction agencies. If you’ve got downtime between jobs, network with other contractors. They may be able to use your skills during their busy times. You’ll learn how they work and maybe discover some new ways to help you build your business. Also, agencies can have great connections with big construction companies. You may find new ways of doing things, or even get some much needed training on new equipment. Either way, you’ll be earning a paycheck and the experience – both equally valuable in your line of work.
4. Build Your Portfolio
One of the hardest things to do is find time to organize all of your former jobs into one book that you can take with you on bids. Take some down time to put pictures into your album, either online or into a book. Make some calls to former customers to ask if you can use their names or addresses so prospective new customers can come by to see what you did. Include your references in the album so everything is in one place.
The long and short of it is to use your slower times to your best advantage. The time you take can help you hone your skills, create new business network resources and help you sell your services for future business. And that’s what it’s all about.