Contractors & Trades

Davis Business Coaching is here to help address and overcome business challenges for contractors and trades. We help contractors and trade business owners methodically navigate challenges, execute impactful actions, and achieve optimal results. Here are some real-world examples of past clients we’ve worked with in this industry.

Business Challenges

Contractors and trade business owners often face several common challenges when it comes to developing and growing their enterprises:

• Managing Cash Flow Effectively: Irregular income, coupled with the need to cover overhead costs like equipment, materials, and labor, poses a significant challenge in managing cash flow effectively. Contractors often grapple with financial stability and ensuring that there is enough working capital to sustain their operations.
• Securing a Consistent Client Base: One of the primary challenges that self-employed contractors face is securing a consistent and reliable stream of clients. The construction industry's demand can be unpredictable, leading to difficulties in maintaining a steady flow of projects, which is crucial for business growth.
• Navigating Workforce Challenges: The fluctuating hours and pay for some employees have created a ripple effect of inconsistency in field performance. Despite appearing strong on the outside, a business owner may grapple with exhaustion and stress while the team harbors frustration and uncertainty about their future job security.

Essential Actions

Contractors and trade smiths who own their own businesses must address common challenges related to cash flow management, client acquisition, and competition to successfully develop and grow their enterprises. Davis Business Coaching plays a crucial role in assisting contractors who experience these challenges through a few essential action items. These actions have proven effective with other business owners in the contracting and trade industries, and these will be the focus for most business owners in this field who choose to work with Davis Business Coaching.

• Regular Meetings: Business coaching provides a safe space for business owners to vent their frustrations, share their concerns, and receive feedback. These regular meetings allow owners to express their thoughts and emotions, helping them manage stress and emotional reactions more effectively.
• Organizational Design and Employee Development: Business coaches can also assist in designing the organization's future state with organizational charts and job responsibilities exercises. This process helps owners identify employee strengths and weaknesses, allowing them to gradually mold the company and its team to align with their values and goals. Focusing on employee development helps the business become more efficient and productive.
• Education and Mindset Shift: Business coaches provide education through videos and reading materials to help owners transition to becoming more engaged owners and operators. This shift in perspective allows owners to think strategically, set clear agendas, and develop a more structured approach to their business meetings.
• Financial Performance Review and Profitability: At Davis Business Coaching, we encourage clients to find a strong accountant and restructure their Profit & Loss statement, which is critical to the monthly review of their business's financial performance. This leads to a review of projects and estimation processes so that jobs are priced and completed for maximum profitability.
• Building a Cash Reserve and Investments: As a business becomes more profitable, a business coach can guide the owner in generating a cash reserve. This financial safety net can be used for making investment decisions aimed at increasing profits without impacting the owner's personal earnings.

Coaching Results

When contractors who own their own businesses have engaged with Davis Business Coaching to address the challenges mentioned earlier and diligently follow through with the recommended actions, they can expect a transformative impact on their enterprises. Check out these tangible results our clients have experienced after working with us.

Increasing Revenue and Financial Freedom

Within two years of working with Davis Business Coaching, one client's revenue doubled, and profits skyrocketed from a mere 0% to over 15%. This transformation not only fueled their business but also provided them with a robust financial safety net. With these savings, they could finally break free from high-interest loans and start purchasing equipment with cash.

Improved Work-Life Balance

Davis Business Coaching clients also experienced an improvement in structure and stability for their team and gained the freedom to enjoy life to the fullest. One pair of owners were able to take impromptu long weekends or embark on spontaneous trips to Las Vegas, Alaska, and even indulgent cruises without worrying about the business.

Established Processes & Maximized Efficiency

Inconsistencies in processes, procedures, and expectations were causing frustration across an entire team, so the owners worked with Davis Business Coaching to establish new systems to better serve each individual in the company. This substantially maximized efficiency with day-to-day operations, in-house procedures, and more. The team is now able to operate the business seamlessly according to the plan set out through successful business coaching, while the owners are able to reap the rewards of years of hard work and dedication.

Interested in business coaching contractors and trades?

Through collaboration and guidance from Davis Business Coaching, contractors and trades owners experience a fundamental shift in their business operations. To learn more about how your business can experience growth through one-on-one coaching, contact Davis Business Coaching today.