The two most common reasons that people switch from being employed full-time to contracting are 1) to be their own boss, and 2) to make more money.
But how exactly can you optimize your time and skills to earn the most money in the contracting business? Follow our tips below to learn how you can get the most out of being a self-employed contractor.
1. Get the Correct Licenses
In the USA, contractor’s licenses vary from state to state. Sitting the proper exams for your area and becoming accredited gives the dual benefits of being allowed to conduct high-level work in your state and gaining trust from clients. Showing them that you’ve undergone training and exams means they’re much more likely to hire you to oversee building works on their properties.
So, start doing your Florida contractors business and finance exam prep today with companies like Contractor Training Center (or similar training resources in your area) so you can earn big through your own business tomorrow!
2. Avoid Agencies by Going Directly to Clients
Agencies are a great way to get clients when you’re starting out. You won’t have established your own client base or reputation yet, so may need some help getting your business off the ground.
However, after your first few jobs and networking opportunities, start branching out and offering your skills directly to clients. Some agencies take a fee for placing you onto jobs and you also have less freedom regarding what jobs you take and when.
3. Get into Consulting
Alongside your day-to-day contracting jobs, you can work as a consultant using your experience and skills to advise other companies on their own projects.
You can even become a consultant for a company you’ve previously worked as a contractor for. This is a great opportunity for you as you know the project well and have seen from the ground what could be done better. Stay in touch with the company once your contract is over and offer your expertise as a consultant to help the project continue to run smoothly.
4. Become a Trainer or Mentor
There are always other people who want to get a foot into your industry. Help them out by offering your services as a trainer or a mentor!
This can be in any way you choose: by creating a course, by meeting up for coffee and chatting career guidance once a week, or through having someone shadow you at work (if you have the correct licenses and permissions to bring someone on-site).
You could even run demos or classes for companies to teach a group of students at once. This will likely earn you more than your usual daily wage and will be cheaper than enrolling all its trainees into a college course for construction companies; so it’s a win-win situation for both parties.
5. Hire a Great Accountant
Make sure you’re running your business in the most profitable way by enlisting a superstar accountant. They’ll ensure that your taxes are filed accurately and on time while also helping you keep hold of as much of your hard-earned cash as possible.
Trying to deal with your own finances can quickly become a nightmare. After a long week at work, the last thing you want is to crunch numbers. A great accountant will take financial admin and bookkeeping off your plate so you can do what you do best.
Boost Your Income Today
Whether you decide to take some trainees under your wing or branch out into consulting, go away and think about which skills you have that you can capitalize on and who could benefit from them.
Working for yourself could become a reality rather than a “one day” dream.
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