3 New Tools That Will Change the Way Contractors Do Business

Contractors are becoming a bigger and bigger part of the economy due to several trends. Firstly, big businesses are attempting to be more flexible with the ability to scale up and scale down costs quickly. With contractors, this is much easier. On the other hand, more and more individuals want to be their own boss, control their schedule and still earn a good living. Most importantly, technology has enabled contractors to conduct business professionally from home and respond rapidly to any requests.

#1

The first tool that has improved the lives of contract is the all-in-one mobile customer relationship management (CRM) software and scheduling application. These software are detailed databases that contain all of the client’s issues, history, contact information and status in one location. In addition, any appointments or meetings are integrated into the app to remind the contractor of the various issues. This software makes it so easy for the contractor to instantly know everything about the client when attending a meeting. They are also less likely to miss a meeting or gig. The application tracks the entire history including the sales cycle, the functions performed, the revenue and other pertinent information. With these tools, the contractor has greater insight than ever into how they perform their job and to maximize the efficiencies.

#2

The second tool is the suite of new contractor insurance offerings. In the bad old days, contractors could not get insurance because they were not large enough and did not have enough history. However, with the proliferation of contractors, insurance companies have created online sites to aggregate risk and cover more contractors than ever before. Rates have fallen and contractors no longer have to bare the massive risk that they used to. This has freed up individuals to take the risk of going out on their own as a contractor without the fear of losing their entire savings.

#3

The third tool is the various new contractor aggregation and sorting websites. In the past, contractors had to advertise themselves in the yellow pages or in classified ads. Today, the process has flipped. Companies with jobs or gigs visit large sites such as eLance, freelancer.com and other sites. They post their job and the contractor is free to bid on it. The contractor can also place their profile, history and skills on the site and wait for a company to contact them. While the jobs are often less lucrative then a stable income, they do provide a bridge between more lucrative projects. These sits create a constant stream of demand that good contractors can access for new jobs.

Overall, the trends in technology have created massive opportunities for contractors. While there lives are less stable and income is less predictable, contractors have much more control of their free time and work flow. Contractors have the opportunity to only work on what they want to and maximize their skill set. They can take advantage of the technical tools that did not exist in the past to eliminate risk, increase productivity and access a number of new jobs that were previously unavailable. Changes in technology have created these opportunities, which millions of contractors are now able to take advantage of.