Best Practices from the Big50 - Foundation Finance Company

Business Best Practices from the Big50

Big50 contractors specialize in a variety of niches from basements to bathrooms but one thing they all have in common is basic best business practices. Below are five basic principles for good business and how they incorporate them into their day-to-day.

  1. Be a good neighbor.

    Completing a remodeling project is not only an inconvenience to the homeowner but to the neighbors who have to deal with noise, trucks and equipment and the occasional roadblock. Contractors can have a much more successful outcome by reaching out to neighbors prior to the start of construction and explaining what to expect. Providing a way to reach the contractor directly should their project inconvenience a neighbor gives not only a positive image of the business but exposure as well.

  2. Give back.

    Making a point to give back to the community by using your company’s skills and influence to help the less fortunate can provide many positive results. It gives your company an opportunity to bond as a team and gives those who see your good deeds a reason to remember and recommend your company for future projects.

  3. Keep employees happy.

    Happy workers are more likely to stay with your company. Use flexible schedules and generous benefits as a way to show your appreciation for your employees and all they do for your company. Employee recognition, small prizes, and company-sponsored events or meals go a long way toward letting your employees know you care and appreciate them.

  4. Make it personal.

    Going the extra mile to satisfy a customer can mean many things. Making an over and above effort to keep the client happy from beginning to the end of a project makes you stand out from many other companies that just do the work and leave. Consider hiring a customer care staff to work as a lesion and provide feedback to both sides as the project progresses. Giving a gift with a personal touch at project completion also makes a lasting impression.

  5. Use tech as a tool.

    Technology has its ups and downs in the contracting world. Many top remodelers are ditching complicated, high tech options for simple cloud-based software and mobile apps. When choosing technology, keep the end game in mind – high productivity, improved customer satisfaction, and better communication.

Implementing some best practices of your own can provide you with a foundation to ensure that each project has been cared for all the way through. Happy clients nearly always mean repeat or referred business so going the extra mile isn’t just good policy, it’s good business.

Read the article here.

Note: Use of the terms "Loan," "Lender" and "Borrower" is for ease of reference only. Financings are in the form of retail installment contracts ("RIC").

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