IntegrityElectricalPV20:7
Member
- Location
- Schenectady, NY
- Occupation
- Owner of Integrity Electrical Service and Maintenance, LLC
Hey folks,
I was a member of a company in upstate NY whose owner died. Supervisors scrambled to get rid of their competition within the company. I was fired for a fender bender after 12 years of making the company money. Fired on Thursday, DBA on Monday, Van full of tools and material by Saturday. No experience running a business.
Its been hard but I've been in business now for 7 years and have been pretty stable in work flow but stagnate on financial growth. Still going at it paycheck to irregular paycheck. I get about 50/50 residential/commercial work. Mostly small projects like fit ups and service calls. Sometimes the oddball call comes in for industrial machine repair,... Never afraid to try working on something I'm not familiar with.
1. I need to hire someone exactly like me. (HA!) Someone who cares about the customer, the business, and work quality. I'm not afraid to hire, but I am a bit weary of my ability to read others and their qualifications. Any suggestions?
2. Saving money as a one man shop isn't easy, but I can't see how to grow without employees. Catch 22? How do I go about obtaining a reserve to make payroll before the benefits of an employee come in?
3.How far ahead do I put in reserve for payroll?
4. Does profit sharing work?
I have read a lot of the advice on this site and am thankful to Mike for creating it. I appreciate the wisdom found here and am ready like a kid at Christmas to gain from the experiences others have had. Any help would be greatly appreciated.
Regards,
JoeP
I was a member of a company in upstate NY whose owner died. Supervisors scrambled to get rid of their competition within the company. I was fired for a fender bender after 12 years of making the company money. Fired on Thursday, DBA on Monday, Van full of tools and material by Saturday. No experience running a business.
Its been hard but I've been in business now for 7 years and have been pretty stable in work flow but stagnate on financial growth. Still going at it paycheck to irregular paycheck. I get about 50/50 residential/commercial work. Mostly small projects like fit ups and service calls. Sometimes the oddball call comes in for industrial machine repair,... Never afraid to try working on something I'm not familiar with.
1. I need to hire someone exactly like me. (HA!) Someone who cares about the customer, the business, and work quality. I'm not afraid to hire, but I am a bit weary of my ability to read others and their qualifications. Any suggestions?
2. Saving money as a one man shop isn't easy, but I can't see how to grow without employees. Catch 22? How do I go about obtaining a reserve to make payroll before the benefits of an employee come in?
3.How far ahead do I put in reserve for payroll?
4. Does profit sharing work?
I have read a lot of the advice on this site and am thankful to Mike for creating it. I appreciate the wisdom found here and am ready like a kid at Christmas to gain from the experiences others have had. Any help would be greatly appreciated.
Regards,
JoeP