This might tank, but hey its business!

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cadpoint

cadpoint

Senior Member
Location
Durham, NC
Occupation
Electrician - but not by NC Law.
It seems discussions of business go south real quick around here, hopefully this will be nice informative twist from the people that make a payroll for themselves or others.

Please let me appoligize first, this may stretch some readers memory as to the exact answer(s) they might respond with!

This is a two part question with potentially endless and various answers.
I can only hope that one will only answer to present some constructive fact(s) that is based on the questions! JMO? Yea Right :roll:

Before starting your business what are some things you missed or didn?t do ?

After six months to a year, what did you find out that you couldn?t do with out, unforeseen, learned or copied and integrated into your line of business or course of work?
 
cadpoint said:
Before starting your business what are some things you missed or didn’t do ?
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I went from fat, dumb and happy to unemployed in less than a week, never really had time to think about it.


After six months to a year, what did you find out that you couldn't’t do with out, unforeseen, learned or copied and integrated into your line of business or course of work?
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I found I could do without one partner that did nothing.
 
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cadpoint said:
Before starting your business what are some things you missed or didn?t do ?
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Plan. I went from a waged, 50-hours a week top-dog in the company to laid-off to unemployed to self-employed in two days. Not by choice, but it just worked out that way. Not the best way to start a busines, but hey, I'm still here!

cadpoint said:
After six months to a year, what did you find out that you couldn?t do with out, unforeseen, learned or copied and integrated into your line of business or course of work?
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I learned that I'm doing electrical work exactly the same way I was when I was employed. Funny thing, too. Instead of having a boss, forman, supervisor etc. telling me what a numbskull I am, I'm now making money. And I find it totally strange and bizarre that I haven't done anything different... wiring wise. Yes, I learned how to run a business, but out in the field, pulling rope and bending pipe, it's SSDD.
 
gar said:
080920-1017 EST

brian:

This web site requires "quote" to be in caps.

.
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Actually the forums software is not case sensitive with UBB code.

Brian had an additional "/" in front of quote. I fixed it.
 
Many business owners are completely unsuitable as an employee, but do just fine as a business owner. The opposite is also true.
 
cadpoint said:
Before starting your business what are some things you missed or didn’t do ?



Use a CPA






After six months to a year, what did you find out that you couldn’t do with out, unforeseen, learned or copied and integrated into your line of business or course of work?
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A large hammer drill.
 
cadpoint said:
Before starting your business what are some things you missed or didn?t do ?
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I didn't save up enough money to do everything the right way. I went from doing small side jobs and working for a guy to doing larger jobs after quitting working for the guy. I really should have saved up enough to get a van with lettering and commercial plates and an advertising budget.


After six months to a year, what did you find out that you couldn?t do with out, unforeseen, learned or copied and integrated into your line of business or course of work?
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Different sized ladders, an invoice book, a place to keep business cards and of course advertising. I'm still struggling with the advertising because I've been riding along the edge and afraid to risk cash flow on something that might get no return. This is mostly due to some of the money I've thrown away on advertising.
 
I should've spent more time working hungover on someone else's dime....after 6 months, I stopped drinking...:D
 
cadpoint said:
Before starting your business what are some things you missed or didn?t do ?
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Figure out MY costs to be in business - using someone else's numbers doesn't help you.

cadpoint said:
After six months to a year, what did you find out that you couldn?t do with out, unforeseen, learned or copied and integrated into your line of business or course of work?
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An estimating system that works for me and is scalable as I see fit/need.
 
emahler said:
I should've spent more time working hungover on someone else's dime....after 6 months, I stopped drinking...:D
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Na! Drinking helps, especally when you come home and find the house cleaned out and a note saying she ran off with the plumber, because he gets paid for his work.
 
satcom said:
Na! Drinking helps, especally when you come home and find the house cleaned out and a note saying she ran off with the plumber, because he gets paid for his work.
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Gets paid, or gets paid more, or both? ;)
 
1 year in business this month, This will sound Korney but the best thing I ever did was find this site.
Reasons are.
Recommended books
Finding you're true cost's or break even amounts
reading some of the heartaches of other men on here that teach us what not to do.
Code related questions and answers.

In ways, this site makes me excited about the trade ,when there were times it was feeling redundant.

Last not but least, Constructive Criticism even when I don't want to hear it.
 
jrannis said:
Flat rate pricing.... The Holy Grail
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I realized after a few years in business that some flat rate pricing makes sense (I do commercial testing). I would go to a site to resolve a tripped main usually a GFP issue, the EC that called me had been there 6-8 hours and was pulling their hair out. With their help (running risers to open switches) I could resolve the issue in 1-2 hours. Made no sense that the guy that could not resolve an issue made more from the call than I did (and the EC took my number and marked it up). Plus I had test equipment cost to consider (Megger and high current test set). It slowly made its way into numerous testing procedures we do it is easier to price, do not have to look at every job.
 
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