The top big mistakes, most new EC's make.
They go into business withouth checking their area, to see if there is a need for a another EC, they just assume there will be work. Not eniough fish in the pond, even the burger and food companies, do a area study to determine if it gan make a projected profit.
They enter under funded, with no real planning, after all they heard a story of so many starting with nothing and making good, the real facts are thet they are the rare ones, not the average.
They fail to budget for advertising, and again assume word of mouth, and mini mart boards, will bring in profitable work, they will point to some rare sitauation where someone got lucky for a while and fell on to some work.
They never figure their cost of doing business, all expenses and operating costs, they rely on calling around for prices, and look for that reliable measure, the going rate, a number made up by another lost EC, that never figured his own costs.
Guessing jobs, rather then estimating them with known measures and tested costing, belliving that an eight hour day yealds eight hours of productive work, failling to account for scheduling and estimating time.
Never really track truck expenses, the real cost of owning and operating your truck, budgeting for maint and replacement.
And in many cases, failure to give themself a living wage.
Puppy dog management, panic and lower prices the minute business falls a bit, thinking working at a loss and keeping the men busy, until things pick up, not to worry, they will never know the difference, or discover the losses, they don't plan.
They go into business withouth checking their area, to see if there is a need for a another EC, they just assume there will be work. Not eniough fish in the pond, even the burger and food companies, do a area study to determine if it gan make a projected profit.
They enter under funded, with no real planning, after all they heard a story of so many starting with nothing and making good, the real facts are thet they are the rare ones, not the average.
They fail to budget for advertising, and again assume word of mouth, and mini mart boards, will bring in profitable work, they will point to some rare sitauation where someone got lucky for a while and fell on to some work.
They never figure their cost of doing business, all expenses and operating costs, they rely on calling around for prices, and look for that reliable measure, the going rate, a number made up by another lost EC, that never figured his own costs.
Guessing jobs, rather then estimating them with known measures and tested costing, belliving that an eight hour day yealds eight hours of productive work, failling to account for scheduling and estimating time.
Never really track truck expenses, the real cost of owning and operating your truck, budgeting for maint and replacement.
And in many cases, failure to give themself a living wage.
Puppy dog management, panic and lower prices the minute business falls a bit, thinking working at a loss and keeping the men busy, until things pick up, not to worry, they will never know the difference, or discover the losses, they don't plan.
