How newbie contractors pick there niche of construction?
Your contractor license just arrived in the mail and you get that warm rush finally because your thinking man, I thought I would never get this thing!
So your standing there with it in your hand, then it hits you, Now how do I make money with this license?
How do you pick a product or service that can make you a good living for you and your family?
Now let’s face it you may have an idea because you have been doing a little bit of everything up until now.
This is the time for you to sit down with your legal pad and let me give you my 2 cents because I have been down the road a few times and maybe I can help you here.
First off what is your passion? Yes, I no what your thinking, what the hell does passion have to do with construction? Well let’s give this some thought.
If you have to live and breath your job for 8-12 hours a day and a lot of sleepless nights don’t you think you should being doing something that your the best at?
I mean your awake before the alarm goes off and you can’t wait to get on the job or office and you work until dark and you live and breath this job. Man you love it and you talk about it to every person that you come into contact with.
This is Passion!
In your mind you believe this is the only thing you see yourself doing for the next 20-30 years.
So write down your passion! You might have more then 1 hell maybe 5 or 6 who knows, but until you get it on paper, this is when you will be able to see the clear winner.
Now if you have 5 or 6 to help narrow it down, write the pros and cons of each one. No matter how you slice it up you will get down to 1 that puts a smile on your face.
You have made up your mind now, so let me ask you a few questions.
Like how big is your new niche? You no how many customers are out there needing your product or service? The good part is that with the Internet now you can narrow that down with just some easy homework.
Just go to Google search and type in your main keyword for your niche. Maybe it’s windows and siding or roofing. This will give you an overall look at how big your market is.
But I don’t sell to the world Glen I live in a smaller town. No problem then do a local Google search for the same keywords.
Just think before the online world we use to get in the truck and drive around the neighborhoods and take an estimated guess on what our market should be.
Yes, not rocket science but we were right most of the time and if not we added more product or services until we found our true niche.
Find suppliers or distributors and talk to them or go or call contractors in other towns and interview them to get some ideas.
The main thing is that you do your homework. Because you need to have a winner to start with and expand from there.
I hope this helps you some because there’s nothing better then working for yourself and building a great company.
Give me your thoughts and how you picked your niche in the contracting world.