These money management techniques can help contractors and small business owners keep control of their finances through the good times and the bad in their trading.

Running a business isn't easy. It's estimated that 1 in 5 small businesses fail in their first 2 years, and just 25% of new business ventures survive for a decade. One of the biggest challenges small businesses face is managing their cash flow. Even businesses that have a good reputation and a steady flow of customers can find themselves struggling if they encounter a sudden unexpected expense or a major client fails to pay them. Money management skills are essential for all business owners.

No matter what type of service you provide, you need to set your prices high enough to make a profit after you account for materials, labor, and other costs of doing business. Unfortunately, many home service providers set their prices way too low, limiting their cash flow and making it tough to turn a profit. This guide explains what you need to know about pricing strategies, factors to consider when setting prices, and the importance of adjusting your prices regularly.

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Retirement planning is an important part of preparing for the future, regardless of career objectives. For independent contractors who don't have the advantages of employer-sponsored retirement opportunities, making sure needs are covered can take a little more coordination. However, this doesn't mean retirement can't be in the cards; there are plenty of avenues for self-employed individuals to consider. 

From putting away the proper amount early in a career to the savings benefits of tools specifically for independent contractors, such as solo 401(k)s and SEP IRAs, it's possible to put aside enough money for the retirement of your dreams. 

As a contractor, knowing what types of projects will be popular in the upcoming year can be helpful. Discover the top 5 homeowner projects to expect for 2023. 

As we enter the spring of 2023, many homeowners are starting to plan which homeowner projects they'll want to tackle for the year. Often, there are trends that dictate which projects will be most commonly tackled in the upcoming year. As a contractor, understanding these trends can help you prepare your business for the types of projects that are likely to come up. You can start securing materials, making price charts, and preparing for the upcoming busy season. 

Thanks to advances in technology, small home service businesses now have a much easier time connecting with potential customers. Even better, you don't have to spend as much as your competitors to grow your business. Online marketing isn't free, but it's much less expensive than buying television advertisements or placing ads in local newspapers or magazines, evening the playing field for home service contractors worldwide.

If you're not sure how to get started, review this guide to establishing an online presence for small home service businesses. You'll learn why it's so important to have an online presence and what you can do to make sure potential customers know about your company and its services.

With everything you have to do as a home service provider, social media may be the last thing on your mind. After all, aren't Twitter, Facebook, Pinterest, and other platforms for young people with a lot of time on their hands? Absolutely not. Social media evens the playing field for small businesses, making it possible to compete effectively with large companies without spending your entire marketing budget in a matter of weeks. If you're ready to transform your marketing strategy, keep reading to learn more about social media for contractors and how you can use it to attract more customers.

Marketing is a challenge for many home service providers. After all, you started your business to provide valuable services to your customers, not to dabble in website maintenance or online advertising. If you want your business to grow, however, you need to have a comprehensive marketing strategy. Marketing makes people aware of what you offer, establishes your credibility, and helps you convert prospects into paying customers. To help you make 2023 your company's best year yet, here's an overview of some of the best marketing strategies for contractors. 

After 12 years of working for other companies, Zeb Borynack decided it was time to start his own business. This decision was one of the most fulfilling decisions of his life. Now Zeb's business, Zeb's Plumbing, is flourishing in the southern California area. Zeb explains how reaching his company goals is a critical part in expanding and growing his already established business. Read about how Zeb's Plumbing partnered with CraftJack on their journey to success.

Aaron Stockstell, owner of Stockstell Services, has worked hard to make his company successful, but he considers CraftJack an integral part of his small business plan. When expanding to a new location, Aaron took a chance on CraftJack and found it had a major impact on the growth of his company. Now, as a CraftJack contractor for all his locations, he focuses on every bid he wins, knowing those are the clients who will help his business continue to meet its expansion goals.

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Nate Walters, owner of Aquarius Fabrications, attributes much of the growth of his business to the leads he receives from CraftJack. With his extensive welding experience, he made the decision to branch out on his own and take control of his professional opportunities once he realized he'd peaked as an employee. To be successful, he puts all his time and efforts into working toward the success of his company. As the founder of Aquarius Fabrications, Nate's one-man operation requires him to fulfill every role within his business, but he recognizes that this path will provide him with more freedom in the future.