The 5 Biggest Problems Contractors Face and How to Fix Them
Running a contracting business comes with its own unique set of challenges but many of them are more common (and solvable) than you think. In a recent episode of the Hammer & Grind podcast, host Brad dives into the five biggest problems that hold contractors back and more importantly, how to overcome them.
Here’s a quick breakdown of those five key problems and the steps you can take to overcome them.
1. Profitability
Many contractors undercharge, thinking it helps them win jobs. But without strong profit margins, you're always playing catch-up. Profit is what fuels your business not just your paycheck.
Action Steps:
Reevaluate your pricing. Are you covering all your costs and still earning a profit?
Use milestone payments instead of waiting for full payment at the end. This improves cash flow and reduces financial strain mid-project.
2. Mindset
Your mindset impacts how you price jobs, handle challenges, and lead your team. A scarcity mindset, believing there’s not enough money or talent can severely limit your growth.
Action Steps:
Shift to a growth mindset. Ask, “How can I add enough value to justify higher prices?” instead of “No one will pay that.”
Stay away from negative influences and surround yourself with people who challenge and uplift you.
3. Time Management
Time is money and if you're wasting time on unpaid tasks like free estimates or inefficient scheduling, you’re leaving money on the table.
Action Steps:
Charge for estimates to filter out non-serious clients and respect your expertise.
Try time blocking: dedicate certain days to specific tasks (e.g., Mondays for estimates, Fridays for admin) to boost focus and productivity.
4. Branding
If your business looks unprofessional, clients won’t trust you or pay premium prices. Your brand sets expectations before you even speak.
Action Steps:
Rebrand if your logo, website, or messaging doesn’t reflect your value.
Niche down and specialize. Being known for one thing makes it easier to market and justifies higher rates.
5. Community
Contracting can be isolating, but surrounding yourself with the right people makes a huge difference. Community provides support, mentorship, and accountability.
Action Steps:
Join a professional network, locally or online, where you can share advice and learn from others.
Stay active. Comment, ask questions, and show up consistently to get the most out of it.
Success in contracting isn’t just about skills and hard work, it’s also about strategy. By improving your profitability, mindset, time management, branding, and community, you’ll build a stronger, more resilient business.
Want more actionable advice? Tune in to the Hammer & Grind podcast and explore their coaching programs, The Profit Club and The Profit Accelerator, designed to help contractors grow faster with less stress.
Resources
Grab Brad's tell-all book: The Contractor Profit Blueprint
