Business Development Resources
Being a successful rater requires much more than technical knowledge
and providing quality ratings to your clients. You must also be skillful in business. The most successful businesses are those who are
adept at marketing, pricing, and insuring themselves from risk.
Here is some helpful advice to help you succeed as a rater.
Before determining a price for your services, it is recommended that you first determine both your costs of living and business. Living costs include food, housing, savings, education, medical, transportation, personal expenses, etc. Business costs include travel, taxes, supplies, insurance, a retirement fund, etc. You want to make sure that the salary you give yourself will cover these costs, and give you enough money to enjoy life. To compute an hourly rate, you may divide your costs by the amount of hours you expect to work. It would also be helpful to compare what rates similar services charge in your market.
As we all know, having a small business is a rewarding but often
risky undertaking. Properly insuring yourself and your business is critical for mitigating the risk inherent with operating a small
business. Not having proper medical and disability insurance, can cause
even a temporary illness to become a financial disaster. Disability
insurance is absolutely vital to insure that your business remains
operational if you are unable to work for a time. Remember, if you are
in this for the long term, the likelihood of you encountering some
accident or illness in the future is highly possible. It is also wise to
protect yourself from lawsuits and accidents that may occur in your time
as a rater. Having proper liability insurance will help prevent law
suits from crippling your business.
That's why RESNET offers its members access to the RESNET Insurance Program. Developed with RESNET members in mind, the RESNET Insurance Program is designed to help simplify the insurance buying process for RESNET members and offers the Professional Liability (PL), General Liability (GL) and Property coverage you need. The program is only available to RESNET Raters and Home Inspectors and offers competitive rates that may not be available anywhere else.
Take a few minutes now to check out this important member benefit. Call toll-free (800) 806-0263 or visit the RESNET Insurance Program website at www.locktonaffinity.com/resnet Electronic applications and online contact request forms are available for your convenience.
Defining Your Product
If is vital that you are able to clearly define and communicate to
potential customers what it is you are selling. Any effective marketing
strategy will define the value of your services to your customers. By
considering the value of your rating services to your various customers
you will be able to tell your story more effectively.
Marketing your business is every bit as important as providing quality services. In order to have clients, consumers must know that your business exists and the specific services you offer. Make sure that you have a website, and that it not only lists the services you provide, but also what the services are. Many professionals in the rating industry neglect to provide full service listings or any description of what their services are. Remember, you are not advertising solely to people in your field of business!
Attending trade shows are also valuable ways to network and advertise your services. Make sure that you are always carrying business cards with you at all times. Fact sheets are also an effective way to let people know about what services you offer, and what those services are. Joining home builders associations let builders know you are around, and what services you can offer them.