4 Productivity Ideas to Help Get you Ahead
08/10/2020 | Dunn Edwards |
Finding one’s way in this “new normal” is a huge challenge. And what most of us thought would last a few weeks has turned into months, making it even tougher to stay in the black as business remains sluggish. That said, there is a silver lining! You have the opportunity to use this downtime to take care of those pesky checklist items that have sat on the back burner for too long. Here are a few ideas:
Get your marketing game on!
While referrals and word-to-mouth can be highly effective under normal circumstances, this “new normal” has created a substantially more competitive market. So, be honest. Have you been actively spreading the word about your business? Consider the following:
• Spend wisely — Maximize your efforts by identifying and focusing on your most qualified and desirable targets. The more you narrow your pool, the greater chance you have of reaching the right people.
• Website = first impression — While there is a lot to DIY website builders, it’s advisable to hire an expert to create and optimize a professional-looking site that will generate more leads. Be sure to include high-quality before-and-after pictures, as well as positive reviews.
• Attention-grabbing signage – Putting professional signs on your vehicles and at all job sites is another great way to get noticed! Also, consider creating and distributing personalized door hangers that list current projects so prospects can see the quality of your work. Don’t know where to start? Check out Dunn-Edwards wide range of affordable, customizable marketing materials.
Inspect tools and equipment
You know how hard you work — but don’t forget how tough your job is on your equipment! Now’s the time to check out your gear and supplies and replace or repair as needed so that everything is ready to go once business rebounds.
• Ladders, scaffolding, spray equipment, etc. — Nobody wants a job site accident! Therefore, it’s crucial that you inspect all ladders and scaffolding for damage or deterioration — and replace it as necessary. Also, take a look at your spray equipment and accessories to ensure they are working well and not leaking. If you need some equipment fixed, call your nearest Dunn-Edwards repair center here.
• Vehicle care — Of course, it’s vital that you take care of your hardest worker — your truck! It takes a beating day in and day out so is sure to stay on top of its routine maintenance — as oil changes, tire rotation or replacement, etc. — and don’t forget to clean your truck. Remember, first impressions!
• Basic sundries — Save yourself the time and aggravation of running to the store at the last minute because you’re out of basic supplies. Review your inventory to confirm that your sundries (tape, brushes, rollers, drop cloths, etc.) are sufficiently stocked.
Contracts
Paperwork may not be fun but — as we start to look ahead to 2021 — it's crucial to review all of your contractual obligations, as doing so can safeguard you from further negative impacts resulting from COVID-19. Here are some examples:
• Notice provisions — If jobs are delayed (as many have been, thanks to COVID-19), numerous contracts require you to quickly send notice provisions to inform all parties of the issues and possible effects, as well as help, resolve any problems. Failure to do so can be costly; therefore, get your notices prepared! Learn more here.
• “Acts of God” — Contracts may have provisions that consider “acts of God.” These delay provisions (called “force majeure”) can be a life-saver during these uncertain times. Find out how.
• Make new agreements — Another smart way to protect yourself is to address possible disagreements before they happen. Consider working with your clients and/or other contractors to create and agree upon reasonable, appropriate delay provisions that are fair to everyone.
Money Matters
No doubt that these days, cash is king — so managing and having access to funds quickly is extremely important. Here are a few things that can help:
• Working capital and SBA loans — Take quick action to apply for working capital loans…even if you don’t need it right now. Also, the SBA offers a range of economic relief option for businesses impacted by COVID-19. Jump on this and get cash for your business.
• Shop for better terms — We are happy to support our partners in paint by offering affordable financing programs that offer you quick credit, affordable terms, and good-payment discounts. Let us help you keep more cash in your pocket!
• Get cash from slow-paying accounts — Most contractors live with slow- or no-paying projects that just linger. And, why we all want to be and considerate to others who may be struggling, you deserve to be paid for a job well done.
Follow up with these clients. Be kind yet firm. If they can’t pay in full now, create a written, reasonable payment plan that clearly specifies the outstanding balance and terms of the plan (payment due date, interest rate, and penalties for non-payment).
We at Dunn-Edwards understand that these continue to be challenging times — and we are here to help you succeed. Click here to learn about all the services we offer contractors.
