Work has gone quiet … Advice!

[CH123123]

Hi

Just curious to see what people do if the work starts to go quiet.
Not really happened to us before!!!!!

We are general contractors, bit of everything (Schools, Restaurants, HVAC that sort of thing)

- Do you ring round existing customers just as a ‘Hello we are still here’ sort of thing.

-Send out some targeted emails, to try and drum up some new customers.

-Advertise

Just curious, we’ve not really had to do much advertising up until this point.
I’m hoping it’s just a lull but god knows.

Any hints or tips appreciated.

 

[Dustydazzler]

First thing I always do if the diary is looking a bit empty is contact all the quotes and estimates I have done that I have not yet heard back from.
Second would most certainly be contact any existing customer base to see how they are and if they have any work that needs doing / looking at / etc
Third would be some sort of additional advertising is never a bad thing, some stuff on social media is cheap and quick.

A lot of my work is call-out stuff so I am used to iy being very up and down but as Im on my own I don't mind a quiet month every now and then. That said if I was employing someone it would give me nightmares

 

[James]

It really depends on why you are quiet.
when you have been doing the same thing for years, you tend to recognise the patterns.
I have a quiet time in feb, March, august and September .
not dead, just noticeable that their is less work.

if it is not part of a usual pattern, you need to figure out why.

less enquiries in general,

bad review posted somewhere
change of management at a large customer
new competitor in the area

less quotes won with plenty of enquiries would generally suggest that people are either shopping around more and finding better prices or that someone is actively trying to drum up business in the area.

 

[Dustydazzler]

I do start to wonder if the Cost of Living Crisis is starting to bite ?

Nick Bundy posted a video the other week and he priced up a big Re-wire at about £12,000 which he thought was a good price, and knowing his pricing he is very cheap compared to many other sparks. He was having a bit of a rant that the homeowner got another sparks/builder to do the job for £6000.
He was gobsmacked that anyone could do the job for 1/2 what he priced,

Are firms that desperate that they are working at a loss just to keep busy ? Slippery slope that if you ask me and bad for the industry as a whole

 

[CH123123]

Thanks very much for the replies…. Much appreciated!

I think our main issue is we took a third person on early last year, he’s now getting up to speed so the work we have, is getting done quicker.

I’ve got a few estimates out there so I’ll chase them up first then I’m going to look at doing some targeted emails.
I’ve spoken to a couple of the schools we work for and they say it’s just a case of they’ve not yet received their budgets.

I hope things pick up, cos I’d hate for it to carry on much longer.

Saw the Nick Bundy video …. Good luck to the customer, that’s all I can say!!!

 

[Intoelectrics]

it’s just a case of they’ve not yet received their budgets

This is quite common especially for companies who's financial end of year is looming. I'm currently working on budgets and have pulled my foot off the gas for spend, due to increasing costs cash flow is tight.

It would definitely be worth emailing companies offering your services. Loyalty towards contractors is in some demise and competition high due to cost savings. Most companies in the current climate are really focussing on their EBITDA. So if they can save money they will.

On the flip there are some companies who have unused budgets to spend so to maintain a certain budget level for the following year. So you maybe lucky to pick up some of that work if you enquire.

 

[plugsandsparks]

I have done a few things over the years, book my training courses (currently on one at the moment)

Offer lighting upgrades based on saving electricity, last one i did paid back in less than 9 months !!

Take a holiday

 

[LukeD]

I never ever "chase " quotes .I always believe a client know what they are doing and I dont need to look "Desperate " . The cost of living crisis is far more serious than many want to believe . And when you get The High end Auction houses been "swamped" with very very high quality items been offered to them .From people that would not normally be selling and other businesses NOt wanting to buy in stock then this is a bad sign. I "play" with wines and Port and from time to time , it serves me well. A bottle I would get £520 for all day long now only gets £360 . China etc has dried up . Far too much stock been held my hotel /restaurant groups that have BIG loans against them and the value dropping . And then Elon Musk says "Dont be spending money " . The alarm bells are truly ringing . Just many people are not hearing them . Domestic work at the medium -high end of the market is also getting quieter as the foreign investors are all "taking time out " in London to see whats going to happen . If we see a "race to the bottom" to get work... then all bets are off ! No one benefits

 

[Dustydazzler]

I never ever "chase " quotes .I always believe a client know what they are doing and I dont need to look "Desperate " . The cost of living crisis is far more serious than many want to believe . And when you get The High end Auction houses been "swamped" with very very high quality items been offered to them .From people that would not normally be selling and other businesses NOt wanting to buy in stock then this is a bad sign. I "play" with wines and Port and from time to time , it serves me well. A bottle I would get £520 for all day long now only gets £360 . China etc has dried up . Far too much stock been held my hotel /restaurant groups that have BIG loans against them and the value dropping . And then Elon Musk says "Dont be spending money " . The alarm bells are truly ringing . Just many people are not hearing them . Domestic work at the medium -high end of the market is also getting quieter as the foreign investors are all "taking time out " in London to see whats going to happen . If we see a "race to the bottom" to get work... then all bets are off ! No one benefits

I was sparking in London during the credit crunch and firms were slashing their prices to try and stay in work , it was a right old mess. My company were fighting other companies for jobs and we were making a less on lots of work we were doing just to try and keep the work force employed. Not a nice situation to be in...

 

[Midwest]

Commercial place I work, we use several local contractors for small works, and my work requisitions are definitely being put on hold. Only emergency work is being put through.

 

[pc1966]

I "play" with wines and Port and from time to time , it serves me well. A bottle I would get £520 for all day long now only gets £360 .

How curious. I drink mine!

And then Elon Musk says "Dont be spending money " . The alarm bells are truly ringing .

Given what he paid for Twitter and how his management style is [not] paying off there, I would not use him a good financial advisor.

Yes, money is tight for a lot of folks and with the pending budget / end of year and rise in energy costs it won't be getting better any time soon. But equally some folks are still looking for ways to save energy so stuff like LED lights & movement sensors are a good thing to "sell" as saving money and being greener.

Even if you don't chase quotes as such, a follow-up email with some related offers won't go far wrong.

 

[LukeD]

How curious. I drink mine!

Given what he paid for Twitter and how his management style is [not] paying off there, I would not use him a good financial advisor.

Yes, money is tight for a lot of folks and with the pending budget / end of year and rise in energy costs it won't be getting better any time soon. But equally some folks are still looking for ways to save energy so stuff like LED lights & movement sensors are a good thing to "sell" as saving money and being greener.

Even if you don't chase quotes as such, a follow-up email with some related offers won't go far wrong.

NO way ...too expensive ! My wife made a massive mistake some years ago and opened a "Soldera" for a friend . Nothing else to do , Just had to laugh about it and we still do . Now she knows ! I really wish I had bought a LOT more then and sold them in 2016 !!

 

[littlespark]

You can get a bottle of Pinot from tescos for less than a fiver. I don’t know why you’d want to spend hundreds on something you don’t really want to drink.

Says the man that’s selling off his excess plastic bricks on eBay.

 

[LukeD]

You can get a bottle of Pinot from tescos for less than a fiver. I don’t know why you’d want to spend hundreds on something you don’t really want to drink.

Says the man that’s selling off his excess plastic bricks on eBay.

Drinking wine comes from Aldi . Better wines come from Clients . These wines above earned me some money

 

[pc1966]

NO way ...too expensive ! My wife made a massive mistake some years ago and opened a "Soldera" for a friend . Nothing else to do , Just had to laugh about it and we still do . Now she knows ! I really wish I had bought a LOT more then and sold them in 2016 !!

But did it taste nice?

My most expensive tipple has be a couple of bottles of Montes' Purple Angel and they are nice, but a bit strong for most situations. Good to help face down some serious strong cheese and sausage snacks.

 

[nicebutdim]

How curious. I drink mine!

Given what he paid for Twitter and how his management style is [not] paying off there, I would not use him a good financial advisor.

Yes, money is tight for a lot of folks and with the pending budget / end of year and rise in energy costs it won't be getting better any time soon. But equally some folks are still looking for ways to save energy so stuff like LED lights & movement sensors are a good thing to "sell" as saving money and being greener.

Even if you don't chase quotes as such, a follow-up email with some related offers won't go far wrong.

I'd give some credit to the richest man in the world.

 

[pc1966]

I'd give some credit to the richest man in the world.

Well I doubt he will pay you back:

Twitter cuts another 200 of remaining loyal staff

Reminder: Elon spent $44 billion on this. Forty-four thousand million dollars

www.theregister.com