It’s getting to be the time of year where everyone is taking a look at things that went really well in 2017, and things that didn’t go so well. Those thoughts always seem to lead to New Year’s Resolutions. While it’s a little cliché to make big changes in January, that doesn’t mean it’s not a good idea to analyze your painting business and work to improve it.
That being said, not all resolutions are good ones. Here are three not-so-great resolutions for painting contractors, and how you can tweak them to make them better for your business.
Most business owners work really hard. In fact, many of them end up doing two jobs instead of one – managing their business and painting. If this describes you, then working harder is just going to lead to less time to enjoy the personal life that your business is supposed to be supporting.
A better resolution is to figure out how to outsource as many of the annoying tasks consuming your time as you can – or to stop doing them entirely. Reclaim your time to do the essential jobs of a business owner: customer service, business strategy, and (if your company employs other painters) employee management.
There’s nothing wrong with wasting less money, but there’s a good chance that spending less money will lead to poor profitability. And if it doesn’t hurt you in the short term, it almost certainly will over the long term.
Instead of trying to spend less, take some time to figure out your return on investment for the purchases you make. Are you getting your money’s worth from your paint provider? Is that postcard mailing campaign bringing in more money than what you paid for it? Taking money away from low ROI activities and spending it instead on things that you know generate more money for your business will lead to much higher profits.
Be More Self-Sufficient
As mentioned earlier, it’s hard to run a business and work in it at the same time. One way to make better use of the time you use managing your business is to spread it over more employees. While finding great painters can be difficult in an area where painters are in demand, if you can provide them with a good place to work and take care of them, your business will become more profitable with each one you hire. This higher profitability will let you invest in the things that help your business grow, including marketing, partnerships and training.
To learn how ProPainter Websites can help you make more money, call us at 855.385.1134 or email us at Team_PPW@ProPainterWebsites.com.