Contract Surety

Always In: Common Sense



Trends and their nifty sounding catch phrases have a way of sucking us in and spinning us around. Business will instantly be better if we adapt just this one magic strategy, right? Of course not. When it comes down to it, common sense approaches, consistently adhered to, are what make the difference. So, let’s remember these.


Back To Basics

So much about running a successful contractor business comes down to mindset. The ability to stay focused, and put first things first may not be “instagrammable” but it sure powers us forward for the long haul. Consider these evergreen practices for ensuring the steady growth of your contractor business:


  1. Slow down and be present in the planning stages

….Devote plenty of time to planning in order to figure out the people, processes, information and materials you’ll need before the project begins.


  1. Listen to your staff in the field

Your workers out in the field are your eyes and ears when it comes to what’s really happening during a project. Give them tools to support this effort….


  1. Invest in more training

….By helping your employees develop and master critical skills, you’ll be able to reduce additional contracted work while creating an environment that fosters employee engagement….


  1. Keep a constant flow of communication

….Your employees need to know what you expect of them so they can deliver their best results. The best way to increase communication is to adopt mobile technology with messaging and commenting capabilities built in. 


With so many tech-supported products and services becoming available to help contractors run their businesses efficiently, it is wise to lean in, but important to carefully investigate what actually makes sense for your business. The same goes for adapting green building techniques. Astute business owners are making choices that drive both sustainability and success forward. “Doubling down on equipment maintenance,”and making workplace safety a top priority for everyone, everyday, are two other evergreen strategies behind running a thriving contractor business:  


Worker safety is an ethical measure first and foremost, as protecting the well-being of every worker should be at the heart of every construction manager’s mission. However, project managers may not fully realize the impact injuries can have on a project’s bottom line, too.Workers leaving the workforce for recovery and rehabilitation can create extended delays for their employers, particularly in the face of a labor crunch. Then, there’s the financial risk — construction workers’ compensation claims for an injury cost an average of over $41,000.


Trending Now

Who really knows, but when you’re a contractor, in addition to safety, having a surety line of credit behind you, in writing, is always in, right?


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Come On In: 

The Partnership Account® for Contractors


Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed. Let’s connect today: Colonial Surety.