Technology is creating a wave of new industry experts who offer specialized services. The days where a contractor says, "I don't know" are gone. You must stay one step ahead to remain competitive. Sales and marketing will be of even higher importance in the near future. There's a big difference between advertising and marketing. Learn how to market your company effectively or get some help, but do it!

Being "good with your hands" just isn't enough — it never was. You are a businessperson first, contractor second. There are numerous franchises available that can be a big help in the business arena. Do a little research, ask questions, join a trade group, do your homework — you will be tested very soon.

Larger companies tend to move like dinosaurs through quicksand, plodding along and carrying a massive weight with every step they take. Small contractors who are technosavvy and market smart can move like a hot knife through butter in a rapidly changing marketplace. They can change strategies seemingly overnight, making themselves very difficult to compete with. It's the classic battle between the wiry entrepreneur and the corporate sloth.

Utilities getting into the act
The utility monopolies are being disassembled by legislation and a heated battle with contractors has ensued. As the utility companies lose their grip on typically captive customers, they are looking for ways to maintain their cash cows. Imagine calling your local gas or electric supplier to have your stove repaired or a faucet replaced. Contractors claim, "unfair competition!" while utility suppliers respond with, "It's a free country" attitude. Court battles galore are currently happening on a state by state basis.

DIYs jump in the fray
The DIYs [Do It Yourself] companies, such as Home Base, Home Depot and Sears are also trying to go the full service route — more court battles. In New Jersey, there is a heated battle between licensed plumber groups and Sears. This is a landmark case that requires our attention. If Sears wins the battle, every Sears location in the US effectively becomes a large contractor in your locality with built-in showrooms and presto — instant major competition.