In residential contracting, demand has exceeded supply in the years since covid. Contractors have seen a surge in leads, large backlogs, and clients just happy to get someone out to look at their project. This demand created a vacuum on the supply side.
Due to a variety of factors increasing supply (increasing capacity of competition, new companies forming, more people joining the industry) coupled with decreasing demand due to mostly economic factors, supply and demand are balancing.
With a balanced market, it’s critical to return to the fundamentals of running a business to stay ahead of the competition. One of those fundamentals being a well crafted business plan. To highlight the importance and simplicity, the video below will show you how business planning parallels the idea of planning a voyage across the sea.
To help guide you along the way of crafting your plan, my Smooth Sailing Business Planning Checklist can be downloaded by clicking the button below.