For contractors seeking stability in this tight labor market
For contractors, most are faced with challenges that average employees are seldom aware of. Independent contractors must find new jobs, keep everyone informed, track their profit and loss, sort out their best retirement plan, be aware of tax changes, keep up with workers compensation, liability insurance for contractors and finding health insurance coverage for contractors.
For Contractors it’s often feast or famine
For Contractors to have stretches of extreme challenges followed by periods of nothing to do is the norm. Days run short. Equipment fails, competition offers a better bid, it’s easy to over extend unintentionally in unnecessary areas or simply meeting the demands in life can cause a lack of work in the pipeline.
For contractors that want to smooth out the ups and downs
Allocating your time to current resources to attract more prospects. The 60/30/10 rule
1. For contractors, their best source of profits come from current customers. 60% of an independent contractors efforts should be spent with existing customers to drum up more business.
2. Contractors need to convert prospective clients into paying ones. For contractors with a list of leads, they should commit 30% of their resources following up with new prospects.
3. Number one and number two are the greatest sources of work for contractors, however, finding clients outside of this circle is important for those who are self-employed. Investing the remaining 10% in the broader market makes perfect sense for contractors.
Build a Road Map for Contractors
Contractors are always hit with ‘in your face’ issues. The Self employed are always putting out fires that spring up every day. For contractors dealing with new issues everyday, it’s easy to loose sight of the bigger picture. What are the contractor’s long range goals? Where do they want to be in 5 years? Who would the contractor like to have as a customer? What would the contractor like to accomplish to set them apart from other contractors? Who is that screaming at the new help in the parking lot?
For contractors without a plan, their future is a big guessing game. Lack of focus and no plan leads to daily inconsistency.
For contractors, Preparing a Road Map is both strategic and tactical. The self employed present their business to the market and set a schedule for each goal. The Marketing Road Map for contractors will pinpoint where they are and what’s next. As goals become reality, so doesn’t the energy and excitement for contractors.
We are paying daily and looking for contractors. Extra Income For Contractors