I Want To Hear From The Older/wiser Contractors!

healthyhomes

I realize most of you on this forum are from America. I also realize that America along with the rest of the world is seeing some tough economic times right now. Up here in Canada, we are now starting to see it.

I have noticed my call volumes slowing dramatically. (we only have jobs scheduled until the end of December, usually have jobs booked a few months in advance). I am still new in business however, so maybe this is the norm at this time of year. I have been working in the trades since I was 15 years old, and am now in my late twenties. I have only been running a business for almost 2 years now.

For all of you guys who have been in the business for a long time:

Have you been through tough times like this before? Or tougher? What was the outcome?

Its really sad to see talented, skilled tradesman having to chase work across the country well some of my lazy government employed friends chat on msn in their office all day with no worries of losing their income stream.

I love what I do, and I would be extremely depressed if I have to settle for a crappy job because I go out of business.

What economic situations have some of you faced in the past, and what will get us through this?

Maybe Im just fishing for re-assurance, but hopefully I can take some of your answers and apply it to my business so that myself, and my two employees won't have to worry too much.

Cory

wellbuilthome

Hi cory I was around for black Monday 1987 I think . It was bad and i don't think i built a real job in 1990 , but it picked back up and 20 years later here we go again . The thing i cant understand is what every one will do if they go under? I'm new to my area (2 years) and things are looking kind of grim for lots of guys .I'm would have liked to build one more job this year but i don't have one. I am getting booked up for next year . I have some kitchens and bath to do over the winter and a nice addition for march 15 if it warms up . Try to happy up ,at least your 20 some thing . I'M going on 50 and this could be my last recession .

Bodger

"Black Monday" in '87 ended my career as a stockbroker. Well, I could have survived, many did obviously, but I decided to work with my hands and earn an honest living for a while. From '87 to '92 didn't seem to me to be all that great for contractors, but I couldn't really tell, I was pretty much a handyman and furniture repairman then.
I got licensed a few years later and have been rocking good ever since until now. It will turn, it always does, just have to scale back where you can.
Keep your weapon clean, your powder dry, and the worm will turn.