Do I sack it all off and keep it simple?

[Dadbod3000]

Hi all,

Spark for 15 years, had a company for 11. I have run the company in various different fashions over the years but it’s mainly been labour only contracts on medium sized commercial and industrial installs recently (50-100k).

I’ve had a fairly bad run at it this year as I took too much on and have become an over stretched busy fool!

My question is for anyone that has been ambitious with price work in the past but went back to man and mate with van to keep to a more simple life as that is what I’m considering now, after being busier than ever and losing money it’s put me off the SE life a bit…although I’d never go employed but I would scale it back completely to a point of offering my services out to other busy fools like me for a decent day rate!

I just don’t want work to rule my life, but when you have 10 blokes working for you that don’t give anywhere near as much as a ---- as you it starts feeling pointless.

 

[Vortigern]

Not qualified to speak on that matter but that never stopped me. I imagine such an ability as to land and deliver such work puts you potentially on millioniares row. Think the largest I ever quoted for is 23k, usually 3-6k jobs one man and mate thing commercial. But it does sound as if you have the basis for very profitable and rewarding work and lack the expertise to realise it fully. Chamber of commerce? Some kind of mentoring? Not sure but I would not throw out that ability to attract larger end work just because you are quoting too low??? Rather take what you have and try to remodel it to make it work as a going and profitable concern.

 

[littlespark]

If your guys don’t take it seriously… there’s the problem. They look at it as just a job, whereas you as the big chief get all the stress and problems.

If you scale down, do you envisage problems with having to let some of
them go?

 

[BiddeldyBwah]

Hire a supervisor and get them to take on the graft of organising etc and just stick to pricing/paperwork along with on the tools when it suits.

If you pay your lads EG £17 an hour, pay your best one £20 an hour to organise things.

 

[LukeD]

Its risky now employing others. The cost and the risks .I know a few domestic guys that work also doing kitchens themselves or do the work for kitchen fitters. Quality work and they earn ok and little risks or stress

 

[Marvo]

I don't see the correlation between being too busy and losing money and even more so if you've got 11 years experience at running your business. I think you need to take another cold hard look at why you're not making money.

 

[Paul the Spark]

Hi all,

Spark for 15 years, had a company for 11. I have run the company in various different fashions over the years but it’s mainly been labour only contracts on medium sized commercial and industrial installs recently (50-100k).

I’ve had a fairly bad run at it this year as I took too much on and have become an over stretched busy fool!

My question is for anyone that has been ambitious with price work in the past but went back to man and mate with van to keep to a more simple life as that is what I’m considering now, after being busier than ever and losing money it’s put me off the SE life a bit…although I’d never go employed but I would scale it back completely to a point of offering my services out to other busy fools like me for a decent day rate!

I just don’t want work to rule my life, but when you have 10 blokes working for you that don’t give anywhere near as much as a ---- as you it starts feeling pointless.

 

[Paul the Spark]

Hi Dadbod3000, before you pack it all in sit back and take a look at what's going on. You are obviously experienced and also sat on something here so it would be a shame to throw it all away. You certainly shouldn't be losing money and if you are the only way I can see that is if you put a price in for a job and then pay your guys by the hour and they take longer than you thought the job should take or someone didn't pay you. If that's the case maybe introduce price work or up your price or make sure you get a fair day's work from your guys, and if you've been ripped off get a debt collector on the case don't let them off with it. Have a serious word with them if need be. I'm in a similar position as I get too much work for myself but when I've used subbies in the past I feel like I've given them the best jobs (I do the awkward ones) and all they do is complain and you ask yourself if its worth the hassle.
My question to other sparkies is, should I take an apprentice on? I do mainly small jobs now but the odd commercial and industrial jobs as well. I'm over 50 and think maybe I should pass on my skills to a youngster what are your thoughts.

Hi all,

Spark for 15 years, had a company for 11. I have run the company in various different fashions over the years but it’s mainly been labour only contracts on medium sized commercial and industrial installs recently (50-100k).

I’ve had a fairly bad run at it this year as I took too much on and have become an over stretched busy fool!

My question is for anyone that has been ambitious with price work in the past but went back to man and mate with van to keep to a more simple life as that is what I’m considering now, after being busier than ever and losing money it’s put me off the SE life a bit…although I’d never go employed but I would scale it back completely to a point of offering my services out to other busy fools like me for a decent day rate!

I just don’t want work to rule my life, but when you have 10 blokes working for you that don’t give anywhere near as much as a ---- as you it starts feeling pointless.

Hi all,

Spark for 15 years, had a company for 11. I have run the company in various different fashions over the years but it’s mainly been labour only contracts on medium sized commercial and industrial installs recently (50-100k).

I’ve had a fairly bad run at it this year as I took too much on and have become an over stretched busy fool!

My question is for anyone that has been ambitious with price work in the past but went back to man and mate with van to keep to a more simple life as that is what I’m considering now, after being busier than ever and losing money it’s put me off the SE life a bit…although I’d never go employed but I would scale it back completely to a point of offering my services out to other busy fools like me for a decent day rate!

I just don’t want work to rule my life, but when you have 10 blokes working for you that don’t give anywhere near as much as a ---- as you it starts feeling pointless.

 

[Zerax]

This is classic business life-cycle stuff...

1. A guy (the founder) starts a business and makes it grow, putting in all his efforts. He's an expert at what the business does and everything revolves around him.
2. At some point the founder starts to struggle as the business is getting large and successful, requiring more management skills.
3. The founder employs professional managers to deal with the growing business, finding a role for himself within the business or leaving.
4. The business continues to expand and prosper under professional managers.
5. The business floats on the stock market.
6. The business uses the funding raised to expand into other markets
7. The business gets too big and is broken down into divisions.
8. The divisions are sold off etc. as individual entities.

You're basically at Stage 2.

I've previously been one of those at managers at Stage 3.. and making that transition from 2 to 3 is the hardest of them all... as it means the founder has to relinquish all sorts of things and accept that the way he was doing things may need to change.

 

[baldelectrician]

I know of a local contractor who had 10 guys working for him on a supermarket maintenance contract (won't name the company but every little didn't help)
When the recession came about the supermarket announce that as things were tight they were reducing the labour rates by 10% from the beginning of the next month- take the deal or stop.

he went from 10 guys (plus an apprentice ) to him, one other and an apprentice. The next year his accountant told him his profits took a massive jump as the supermarket works went from breaking even / paying bills to losing a little.

Sometimes it is beter to stay small.

 

[PEG]

Hi,just another angle....5 K,50 K or half a million squid....it makes no difference what the contract value is,if you have under-priced.

You may need another,experienced person,to cast their eye over your last few years trading.

One of the best bits of advice i ever got,was " Two heads are better than one - even if they're sheeps heads...."

 

[LukeD]

dont work for XXXXX .Dont work for peanuts . Give quotes , but only accept the easier well paid work . Go home happy