Whats the competitor doing ?
- Thread starter khixxx
- Start date
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hardworkingstiff
Senior Member
- Location
- Wilmington, NC
Re: Whats the competitor doing ?
I don't understand why you would spend your time being concerned about this.
I don't understand why you would spend your time being concerned about this.
- Location
- Lockport, IL
- Occupation
- Retired Electrical Engineer
Re: Whats the competitor doing ?
Unless the competition is a publicly traded company, so that they must provide financial information to their shareholders, you have no legal right to that information.
Unless the competition is a publicly traded company, so that they must provide financial information to their shareholders, you have no legal right to that information.
growler
Senior Member
- Location
- Atlanta,GA
Re: Whats the competitor doing ?
Have you tried industrial espionage? It's worked for some of the world's leading corporations and it's legal, unless you get caught. If you get caught, you may soon be meeting some of America's most successful CEO's and they can help you develop a sure fire business plan. Of course it might be simpler to develop a business plan on your own and not worry about the other guy.
Have you tried industrial espionage? It's worked for some of the world's leading corporations and it's legal, unless you get caught. If you get caught, you may soon be meeting some of America's most successful CEO's and they can help you develop a sure fire business plan. Of course it might be simpler to develop a business plan on your own and not worry about the other guy.
petersonra
Senior Member
- Location
- Northern illinois
- Occupation
- engineer
Re: Whats the competitor doing ?
If they have a web site, you can get an enormous amount of information from there.
The other thing you can do, if possible, is talk to employees and custonmers (and former employees and customers) on an informal and matter-of-fact basis and get a wealth of information.
What good the information will do you is another matter.
My suggestion is to worry about your own business. Your time is much better spent focusing on that.
If they have a web site, you can get an enormous amount of information from there.
The other thing you can do, if possible, is talk to employees and custonmers (and former employees and customers) on an informal and matter-of-fact basis and get a wealth of information.
What good the information will do you is another matter.
My suggestion is to worry about your own business. Your time is much better spent focusing on that.
mdshunk
Senior Member
- Location
- Right here.
Re: Whats the competitor doing ?
I'd never in a million years spend any time focusing on what my competitor's are doing. You might unknowingly end up following them down the gutter too. All too often, people give their competitors more credit than they actually deserve with respect to their business and marketing savvy. Do what you need to do to grow your business, and don't worry about the other guys. Subscribe to trade magazines to keep up on the general trends, but don't worry about the local guy.
I'd never in a million years spend any time focusing on what my competitor's are doing. You might unknowingly end up following them down the gutter too. All too often, people give their competitors more credit than they actually deserve with respect to their business and marketing savvy. Do what you need to do to grow your business, and don't worry about the other guys. Subscribe to trade magazines to keep up on the general trends, but don't worry about the local guy.
Re: Whats the competitor doing ?
I think that this is an unusual response for this question. Most areas have contractor *** 's. Some areas have informal contractor todo's. By Kicks calling other ECs competitors, it seems to have brought up some hostility that seems out of context. posters here ask all the time what's the rate where and what for this and that. Now this guy gets slammed? don't get it.
Just call up an EC and ask him his rates for by-the-hour repair and you will have a decent grasp of the competition. Or start high and lower until you get some jobs. If you get too many raise your rates.
paul
I think that this is an unusual response for this question. Most areas have contractor *** 's. Some areas have informal contractor todo's. By Kicks calling other ECs competitors, it seems to have brought up some hostility that seems out of context. posters here ask all the time what's the rate where and what for this and that. Now this guy gets slammed? don't get it.
Just call up an EC and ask him his rates for by-the-hour repair and you will have a decent grasp of the competition. Or start high and lower until you get some jobs. If you get too many raise your rates.
paul
- Location
- Massachusetts
Re: Whats the competitor doing ?
Paul you gotta clean up the language.
mdshunk
Senior Member
- Location
- Right here.
Re: Whats the competitor doing ?
Yes, people ask that all the time, but there's no real business value in the answer.
Holy cow... I can't help but to shake my head. That's certainly an interesting operating strategy. How's it working out for you?
growler
Senior Member
- Location
- Atlanta,GA
Re: Whats the competitor doing ?
Think about it, If khixxx takes advice from apauling he'll be a successful inspector before he know's it.
Think about it, If khixxx takes advice from apauling he'll be a successful inspector before he know's it.
Re: Whats the competitor doing ?
iwire: I wrote an abbreviation for association as *** 's. So it should have been assoc.'s. i did not think that it would be taken as a bad word. i now realize that some people will jump on anything. if you look at the context, i do not even see the implication of insult.
Everyone was slamming this guy for merely asking a question and i was pointing out a few simple steps.
Growler don't be a J*** A**. you criticize from both points of view. you spoofed Kicks and me from opposite points of view, and not with a friendly attitude. If you want to make fun of what i said, offer him some of your very erudite and sage advice. For him asking a serious question, you slam him. people here ask different forms of this question all the time. There is nothing illegitimate about it. Your jumping on him merely points out your shallow grasp of the situation. You are one of those people that take enjoyment criticizing others when someone else leads the way, making sure that you are criticizing the right people. You would probably be better off if you didn't spend so much time with your hands in your pockets. walking one handed is not something to do on a public forum.
paul
iwire: I wrote an abbreviation for association as *** 's. So it should have been assoc.'s. i did not think that it would be taken as a bad word. i now realize that some people will jump on anything. if you look at the context, i do not even see the implication of insult.
Everyone was slamming this guy for merely asking a question and i was pointing out a few simple steps.
Growler don't be a J*** A**. you criticize from both points of view. you spoofed Kicks and me from opposite points of view, and not with a friendly attitude. If you want to make fun of what i said, offer him some of your very erudite and sage advice. For him asking a serious question, you slam him. people here ask different forms of this question all the time. There is nothing illegitimate about it. Your jumping on him merely points out your shallow grasp of the situation. You are one of those people that take enjoyment criticizing others when someone else leads the way, making sure that you are criticizing the right people. You would probably be better off if you didn't spend so much time with your hands in your pockets. walking one handed is not something to do on a public forum.
paul
- Location
- Massachusetts
Re: Whats the competitor doing ?
Paul..it's called sarcasm, (notice the and the . I just found it amusing that the software saw you abbreviation as inappropriate.
A little defensive tonight?
[ July 21, 2005, 06:30 AM: Message edited by: iwire ]
No kidding?
Paul..it's called sarcasm, (notice the
and the . I just found it amusing that the software saw you abbreviation as inappropriate.A little defensive tonight?
[ July 21, 2005, 06:30 AM: Message edited by: iwire ]
electricmanscott
Senior Member
- Location
- Boston, MA
Re: Whats the competitor doing ?
Paul, if you were to read what the original question actually asked you might see that it is more than just local rates. I myself think that it was kind of an odd question. I also applaud the guy for trying to find out what is going on in his area.
hardworkingstiff
Senior Member
- Location
- Wilmington, NC
Re: Whats the competitor doing ?
Scott,
I agree, odd. It almost sounds like khixxx is trying to learn how his competitor is making his business work. I think some formal training may be more in line if the goal is to learn how to market your business.
Scott,
I agree, odd. It almost sounds like khixxx is trying to learn how his competitor is making his business work. I think some formal training may be more in line if the goal is to learn how to market your business.
Re: Whats the competitor doing ?
thanks for everyones replies. I guess it shows how people think differently. Basically i'm looking for ways to work on my business rather than in it. I was wondering if the competitor is making mad cash doing somthing i'm not such as more industrial service rather than commercial service. I was tring to avoid the school of hard knocks. i should of ask everyone questions like "what part of your business makes you the most money with less headaches".thanks
thanks for everyones replies. I guess it shows how people think differently. Basically i'm looking for ways to work on my business rather than in it. I was wondering if the competitor is making mad cash doing somthing i'm not such as more industrial service rather than commercial service. I was tring to avoid the school of hard knocks. i should of ask everyone questions like "what part of your business makes you the most money with less headaches".thanks
hardworkingstiff
Senior Member
- Location
- Wilmington, NC
Re: Whats the competitor doing ?
IMO, you have a few of ways to learn what you are seeking.
One of course is the school of hard knocks.
Another is working for someone else it that position and learn at their expense (and yours if you are very successful, in that you'll put the money you make in their pocket).
You can also take some classes and read, read, read.
I have a friend that did about 3 million last year and had a $1,000/week salary. His business lost $140,000 last year. On the other hand, I did about $540,000 last year with a $36,000/year salary and had a distribution of about $100,000. He has about 25 employees, I have me.
He has never worked for anyone, and built his business from scratch. I on the other hand used to run a $2 million a year operation for someone else, made them about a million in profit in 5 years, and in the process, learned how to make money.
Good luck.
IMO, you have a few of ways to learn what you are seeking.
One of course is the school of hard knocks.
Another is working for someone else it that position and learn at their expense (and yours if you are very successful, in that you'll put the money you make in their pocket).
You can also take some classes and read, read, read.
I have a friend that did about 3 million last year and had a $1,000/week salary. His business lost $140,000 last year. On the other hand, I did about $540,000 last year with a $36,000/year salary and had a distribution of about $100,000. He has about 25 employees, I have me.
He has never worked for anyone, and built his business from scratch. I on the other hand used to run a $2 million a year operation for someone else, made them about a million in profit in 5 years, and in the process, learned how to make money.
Good luck.
macmikeman
Senior Member
- Location
- Planet macmikeman
Re: Whats the competitor doing ?
Hardworkingstiff, what kind of jobs do you normally do? You are grossing way more than I usually do. I am turning green.
Hardworkingstiff, what kind of jobs do you normally do? You are grossing way more than I usually do. I am turning green.
hardworkingstiff
Senior Member
- Location
- Wilmington, NC
Re: Whats the competitor doing ?
Last year was an anomaly. I usually gross 150k to 175k, with a 36k salary and 50k-60k distribution. I physically work about 60% of my time, spend the rest of it selling and whatever.
Last year I hit one job after another with no break. Worked steady, probably 90% of the time. Had 2 jobs that I priced to lose and got them. One (a 6 hour trip to get there) waited 4 months for me to show up, and was happy to see me. It's an island that has a hard time getting contractors to show.
I do a lot of gas station work. Some of my most profitable jobs are installing fuel systems (with controls) at marinas. I have electrical contractors licenses, general contractors licenses for fuel distribution, and I'm scheduled to take my building classification exam next Thursday. My plan is to collect licenses, and try to make a living selling my experience. As I push 53 years old, this body is telling me I need to change.
mac,
Last year was an anomaly. I usually gross 150k to 175k, with a 36k salary and 50k-60k distribution. I physically work about 60% of my time, spend the rest of it selling and whatever.
Last year I hit one job after another with no break. Worked steady, probably 90% of the time. Had 2 jobs that I priced to lose and got them. One (a 6 hour trip to get there) waited 4 months for me to show up, and was happy to see me. It's an island that has a hard time getting contractors to show.
I do a lot of gas station work. Some of my most profitable jobs are installing fuel systems (with controls) at marinas. I have electrical contractors licenses, general contractors licenses for fuel distribution, and I'm scheduled to take my building classification exam next Thursday. My plan is to collect licenses, and try to make a living selling my experience. As I push 53 years old, this body is telling me I need to change.
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