The Covid-19 pandemic has had serious implications for businesses and economies all over the world. Business owners have gotten an unprecedented break from work. But a break, even a forced one, allows you to think about your business. You can focus on the improvements you want to bring into the company. Let’s take a look at what you can do to get your business ready for the future.
5 Business Tips for Roofers
Take a financial literacy course
For a business owner, financial literacy is important even if you have an accountant. Given your busy day to day activities you may not always get enough time to really focus on the money issue. After all, your business is thriving.
Online platforms such as Udemy, Coursera, and edX offer excellent courses. Taking a short financial literacy course will help you:
- Effectively manage debt
- Understand the time value of money
- Allocate resources,
- Learn how to calculate interest
- Plan for Investment.
Keep up with industry trends
Roofing is an essential part of homes. Schedule time during the Covid-19 lockdown to improve your knowledge on new and innovative roofing possibilities. This knowledge allows you to offer up to date and relevant roofing solutions to your customers
Include the latest building techniques, green initiatives and geographically suitable materials in your catalogue. Knowledge of new innovations means you can add to your list of services or products.
Streamline business operations during Covid-19 lockdown.
There is always a way to improve operational efficiency. Take time to pinpoint areas that need improvement. Even though you are not at work, you can make a comprehensive plan on how to fix the issues.
Focus on introducing cost effective measures, without skimming on the quality. Outline a plan that helps you:
- Improve communication channels
- Record productivity e.g. time tracking
- Improve motivation e.g. gamification
- Plan additional employee training
- Minimize waste of products
Keep your insurance updated.
The Covid-19 pandemic has brought with it uncertain times. Because most projects have been halted you might need to update your cover to cater for the additional timelines. Get an assessment done by your insurance agent to determine if your cover is adequate. To keep your business protected keep all your coverages updated:
- Builder’s Risk Insurance – This is insurance to protect you against damage to property under construction. It offers additional coverage against the loss and damage of equipment within the construction site.
- General Contractors Liability Insurance – This policy protects your business from claims made due to customer injury, lawsuits and property damage.
Boost your online presence.
As an addition to the above business tips for roofers, we recommend boosting your online presence. An online presence is one of the best ways to make sure that your business is seen. This could be though making regular social media posts or blogs, updating your contact information, and responding to customer queries. A regular online presence leaves a lasting impression on potential customers.
Prepare for the future during the Covid-19 pandemic
The economy may take a time to recover from the effects of the Covid-19 pandemic. Hopefully our business tips for roofers will help you prepare for normality and future-proof your business. We would like to help you keep your business safe during this period. To get in touch with Contractors Liability call 888 676 0923.