How to Grow Your General Contracting Business

How to Grow Your General Contracting Business

Question: What are your thoughts on estimating, contracts, and payments? How important are the details?

They note that clear estimates offer a layer of transparency. “It’s important to clarify all important details of a project in our contract estimates,” said Nina, “outlining what is included and what isn’t so that there are no surprises for the client.”

For Nina and Ilya, technology makes it possible to maintain a clear and constant communication with the client. “Experience has shown us that communication with the client leads to a great working relationship and a successful project.” 

After signing, they typically break the project into stages and receive a monetary draw for each one. They receive a deposit first, the next draw at demo, then at plumbing rough-in, another payment when power is installed, and then the last 10%.

“It is just as important for clients to make prompt progress payments as it is for us to complete work on time,” said Nina. “For us, progress equals payment. Once a client sees the work performed and their questions answered, mutual respect and trust develops. This is critical to long-term success.”