With the holidays just days away, and 2018 almost in the books there’s no better time than now to start reviewing your business performance over the past 12 months, and start planning for ways to get off to a quick start in 2019. We’ve put together a list of 6 things every residential or commercial contractor should do to wrap up the year.
1. Review Your 2018 Projects
What went well? What went wrong? Now is the perfect time to assess those areas where you felt your company achieved and where you can make overall improvements. Look at your purchases and gather a list of some of your most commonly used materials (This may come in handy for number 3 below). For jobs that went well reach back out to those customers with a Christmas gift and ask for reviews on Google and Facebook, or ask for leads and referrals.
2. Review Your Financials
You most likely are already viewing your financials on a month-to-month basis, but now is the time to look at the big picture. Look for trends in your year, and consider ways to plan around them. Close out any outstanding invoices you may be owed, or you may owe. If you haven’t been paid on an invoice for some time talk to your accountant about writing the balance off as bad debt in your financials.
It may also be a good time to change your accounts receivables policy, such as late fees for unpaid invoices. Asking your financial professional how to implement these changes may end up saving you dollars throughout the year.
3. Lower Your Taxable Income by Getting Common Job Site Items
If you’re a bit nervous about your upcoming tax liabilities there are some things you can consider to offset your taxes, and make out even further in the long run. Dig out your list from number 1 and see what you know you’ll be needing for 2019. Meet with your local Lezzer Lumber or sales representative. Not only will this satisfy lowering your taxable income, but now through December 31st you can earn 50% more CRP value through your purchases at Lezzer Lumber.
4. Educate Yourself on What’s New in Building Materials
Whether you’re a seasoned vet, or an up-and-coming pro, Lezzer Lumber is always here to help you make sure you have access to the industries newest and latest materials. Check out our vendor videos to brush up on our different product lines. Reach out to your Lezzer Lumber sales representative or store to see what’s new for 2019, and don’t forget to Save the Date for our 2019 Product Expos:
Lancaster: February 7th, 4pm – 7:30pm • Spooky Nook Sports in Manheim, PA
State College: February 12th, 4pm – 7:30pm • Penn Stater
Harrisburg: February 13th, 4pm – 7:30pm • Sheraton Inn
Stockertown: February 28th 4pm-7:30pm • Sands Casino in Bethlehem, PA
Indiana: March 7th 4pm-7:30pm • Rustic Lodge
5. Get On Social Media
You might read this and think, “I’m already busy enough. I don’t need to advertise.” But the truth is your image is everything, regardless of whether you’re looking for jobs or not. You may not be looking for work, but your next hire or subcontractor might be, and they’re looking for contractors and builders who are active. Take pictures of all your projects. Get on social media. Ask customers for reviews.
Not sure where to start? The Lezzer Lumber marketing department would be glad to help. They can help you set a profile up on the social media channels that work best. They will work with you to add images, create posts, and get you on the path to success. Contact firstname.lastname@example.org or call 814-236-0220 x281 to discuss your options.
6. Reward Your Team
One of the best things you can do to end your year, and get a jumpstart on a successful 2019 is to recognize and reward your team. Did one of your crew members make a big difference on a job? Did they get a job done quicker than expected? Let them know you remember that by writing a note and rewarding them with a gift card to their favorite restaurant, or send a surprise gift to their home. Keep in mind our newest Product Expo is at the Sands Casino in Bethlehem, PA on February 28th. Bringing your team out for a weekend at the former Bethlehem Steel Factory can go a long way in boosting work morale just ahead of the 2019 season.