5 Ways Tradespeople Can Boost Their Profits

beggers August 30, 2019 0
5 Ways Tradespeople Can Boost Their Profits

They say that the classics are always the best, and that does seem to be the case when it comes to employment. While there are plenty of modern-world jobs, the truth is that there’s every chance that many of the jobs — forty per cent — that popped up in the past one hundred years may cease to exist in the coming decades once AI and automation have really taken care off. There are a few professions that will be untouched by the rise of the machines, however, including those related to a trade, such as plumbers, electricians, and joiners. These jobs are relatively secure, and can bring in a handsome income in the right area. Below, we take a look at a few ways people working in these jobs can give their profits a nudge in the right direction.

Tradespeople

Extend Range of Trades

You’re just one person, to begin with, but you don’t need to stay as a sole trader. If you open yourself up to working with others, then you’ll find that it’s much easier to find work. Even if the bulk of your work comes from one-off jobs, there is power in having access to other workers who can help you to take on bigger projects. So look at establishing partnerships with other tradespeople; it might just lead to a range of jobs that you would otherwise not qualify for. Of course, it’s best that you’re setting up arrangements with people who you know are reliable and complete work to a high standard — if you don’t, you might find that your good reputation is brought down because of the work of someone else.

To have jobs come to you, it’s recommended that you look at getting in with a home building company. This is expected to be a profitable industry in the coming years, with lots of homes being built, and if you have a partnership, then that’ll mean some of the money comes your way.

Selective Jobs

This is a good time to be in a trade, due to the amount of work going around. However, it’s important to remember that you don’t need to take every job that comes your way. Indeed, that would be the wrong approach — a low paying job that ties you up for a week would prove to be a mistake if you are offered a better paying, more favourable project the following day. If a job doesn’t seem to be worth your time, then say no – it can seem counterproductive when you have nothing else lined up, but it’s generally a good rule that’ll pay off in the end.

Work More Efficiently

If you’re getting paid a set price for a project, then it’s in your interests to get it done as quickly as possible. Now, let’s not make any mistake: you should ensure that the job is completed to the highest of standards. A bad review will cost you more than whatever money you save by getting things done earlier than planned. You should, however, make sure that you’re working efficiently. Have a plan for the day. Take breaks when you’re tired (a little rest will up your productivity). Use a tool case with foam cutouts, so you can find the tool you need at the first time of asking. These small changes will allow you to work that little bit faster. It’s not about doing the job quickly, but doing the things around the job more efficiently.

Promotional Discounts

There will be times of the year when business isn’t booming. People are less inclined to do work at their home around Christmas and the beginning of the year, for example. After a couple of years you’ll come to understand when your “slow period” is. While you can’t force work to come your way, you can encourage people to make the most of your services by offering seasonal discounts. Fifteen percent off the usual cost might just be all the motivation that they need.

Outsourcing Jobs 

Finally, make sure you’re freeing up some of your time by outsourcing some of those time-consuming but essential tasks, such as your accounting or your tax. These are things that have to be completed, but since they’re not your forte, you’ll end up spending more time on them than you might like. If you hand over the work to an expert, you’ll be able to focus on those tasks that improve the quality of your company, all the while knowing that the important aspects of your business are being taken care of.

 

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