I can not write the complete steps which different independent contractors use to do any their work but, I am writing some tips for better working from my past working as independent contractor. I hope, it will be helpful for you.
1st Tip :For working as a contractor, first, you should completely research about the project that you are going to take contract because after research about project you are able to get right decisions in different situations or with research you learned how to handle a particular problem?
2nd Tip :Second, important thing you must have knowledge of “estimation and costing” for the products, processes, Labour rates, machinery rents etc. With this, you can calculate roughly ideas for giving quotations for contract. For example taking contract at a particular place you must familiar about there legal formalities, Labour rates, carriage charges, approx. cost of raw material, rent of machine or purchase whichever is better, approx. cost of process of raw material to convert in final product.
3rd Tip :Complete knowledge and experience of stages process is must so that you can handle any hard situation. Experience gives best knowledge than any other thing. Different stages of process must be known already so we already know our financial, manpower, raw material, machines requirements in near future.
4th Tip :Next important thing, you have to manage complete account of every small and large things, so the cost of project can be calculated accurately. It's not only help us in end to calculate profit or loss at last but also help us in future quotations and give knowledge of our stronger or weaker section.
5th Tip :Managing the peoples, behavior, turn the situation in favorable way are skills of a good contractor. For being a good contractor you should have some reliable persons in your management that must be trust-able and able to handle responsibility and trust worthy about money matters. It must be part of your personality to manage peoples and convince them.
In most projects, time is important and delay in time should be charged from contractor. So, time is money for contract so, manage system efficiently and economically. Like raw material should be available round the clock so that Labour should not sit free or costly machinery that should be either hired or purchased must be fully used shift work according to speed of work, place order of raw material before it finished, manage skilled or semi skilled worker according to their availability in an economical manner. In other words proper use of money, man and machine.
Written by Vinkal Kumar