It’s been almost 25 years, since I’ve received a general contractors building license. I received my contractor’s license in 1986 and have been working in the construction business for over 30 years. It hasn’t been easy, but the lessons I’ve learned can save future contractors a lot of headaches… Ah, if only I had some of this advice.
If you’re thinking about getting your contractors license, make sure that you read as much information as you can about contracting and the type of construction business you’re going to enter. Information is the key to your success and the more information you have, the greater your chances will be for succeeding in the construction business.
1. You’ve got to make it through the first five years to beat the statistics. Don’t quote me on this, but the last statistic I heard on businesses that fail within the first five years is over 80%. That’s the bad news, the good news is that you already have this information. If you don’t want to become part of these business statistics, start gathering information on why businesses fail or succeed.
2. Your life as a contractor will require you to make sacrifices. I spent at least one year of my life as a contractor working seven days a week. I did take five days off that year and by the time the next year rolled around, I doubled my days off.
That’s the bad news, the good news is that I saved up enough money to take off three years to work on writing books and building some of the best construction information websites in the world.
These two contractor tips can make a big difference to new contractors, just starting out. Plan on making sacrifices and spending the necessary time it takes to create a successful construction company. It’s not always going to be as easy as you think and don’t allow yourself to become one of the business failures statistics.