When you are thinking about how to better your business, performance bonds may not come to mind, but that doesn’t mean that they should not. If you have a business, you should probably have a performance bond, that is how useful they are. Performance bonds make your clients and future clients feel a lot better about doing business with you, because they know they are protected. If your interests are protected, don’t you feel more secure? I know I do. For this reason alone, you should get a performance bond.
But also, a performance bond helps you get more business. Because your clients feel more secure, you get a reputation for being more trustworthy. Since this is true, you get more business, because people like to do business with people they know, like and trust. This is you, since you have a performance bond. Having a performance bond is great to have on hand as well, because there are companies that won’t do business with you if you do not have one. This puts you above and beyond the rest of the contractors who are showing up without one, only to have to turn around and go get a performance bond just to bid on the job. How much better do you look since you already have one on file? You don’t look like a fly by night operator, but one who is fully prepared and ready to do business.