What Changes Are You Planning For 2016?

 
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Old 01-05-2016, 08:19 PM   #81
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Re: What Changes Are You Planning For 2016?


Something i def need to do is sort this damn quick books out.
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Old 01-05-2016, 08:24 PM   #82
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Re: What Changes Are You Planning For 2016?


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Something i def need to do is sort this damn quick books out.
Yes you do! Such a powerful program...if it is setup correct.
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Old 01-05-2016, 08:29 PM   #83
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Yes you do! Such a powerful program...if it is setup correct.
Found a woman who's doing it all for me so hopefully she knows what she's doing. Shes comes highly recommended. Will know soon enough.
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Old 01-05-2016, 08:29 PM   #84
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Re: What Changes Are You Planning For 2016?


I'm going to spend the money to purchase this program roofsnap.com

Accurate measurements, Materials entered right away and ordered, exact job costs, seems well worth it.
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Old 01-05-2016, 08:36 PM   #85
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Found a woman who's doing it all for me so hopefully she knows what she's doing. Shes comes highly recommended. Will know soon enough.
I was lucky and my father ran a construction company for years and was super detail oriented on QB. He showed me how to set it up. Combine that with our accountant guiding us on the accounts we setup and we can pull just about any type of report we want.
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Old 01-05-2016, 08:55 PM   #86
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Re: What Changes Are You Planning For 2016?


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I was lucky and my father ran a construction company for years and was super detail oriented on QB. He showed me how to set it up. Combine that with our accountant guiding us on the accounts we setup and we can pull just about any type of report we want.
I really need to do it. I need to step up my game if i want to take this company any further. I got the work i just ain't got the business savy on the paper work side of things and the money side of things. I'm better than most in this area not not where i want to be.
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Old 01-05-2016, 09:49 PM   #87
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I really need to do it. I need to step up my game if i want to take this company any further. I got the work i just ain't got the business savy on the paper work side of things and the money side of things. I'm better than most in this area not not where i want to be.
I have been in business for almost 15 years and it has just really been in the last 5 or so that I really have a good grasp on the business side of things...and I am still learning and adapting every day.


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Old 12-03-2016, 03:52 PM   #88
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Re: What Changes Are You Planning For 2016?


Had to revive this thread and see how we all came out on our goals for this year. It was a good year. I'm looking forward to 2017.

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-$150k gross profit for the year.

Its going to be right there, maybe a little shy but very close.

-Stop being Mr Nice Guy to the locals that I know personally. That means switching from a straight up hourly rate to hourly rate plus a percentage on materials. Get away from customers who are conditioned to expect you to work for an hourly rate and not mark up materials. Change to either cost plus or bid work exclusively.

I pretty much stopped working for local people I know. Went a different direction as a trim sub.

-Have custom cabinetry made for our home office.

I've got it drawn up but not sure when I'll get to it.

-Keep money in the bank and evaluate whether to invest in tools/vehicle for employee or shop.

Spent plenty money on the shop. 5HP table saw. 5HP planer. 8" joiner. 5hp Dust collector. Drum Sander. Edge sander. And lots of organization. Money well spent because now it allows me to be at home with our 7 year old on Saturdays doing built ins for my new houses.

Bought a new ford transit that has been a huge asset to my new workflow.

Was able to hire first employee.

-Make time for what's important. Continue to evaluate how to run the business so it doesn't run me. That means tweaking the business model to allow for more family time.

The shop and hiring an employee have helped in making me more flexible but still a long way to go.

-Target larger jobs of longer duration. I find 1-6 week jobs to be the most profitable for me.

I'm almost 100% working as a trim sub for builders now. I have 5 I'm servicing as their trim sub. Jobs are typically 2-5 weeks. I love it.

-Change direction from the "do it all" interior remodeler to a more specialized business in finish carpentry. I think being more specialized will lend itself much better to adding an employee eventually also. This goal will be affected by what doors continue to open or close. If I can't make what I want to in finish carpentry I'll default back to remodeling.

Goal reached. I'm now entirely finish carpentry and almost 100% builder only.

-Better time management. Get lean in every area of personal and business life.

I've spent time on refining my estimating and invoicing process so that it is stream lined through quickbooks. I'm also using Tsheets for time tracking which also integrated into quickbooks. I assign time to my QB item list in real time which allows me to run detailed job costing because my quote for the job is derived from my item list. That system has been big for me.

Also, I spent a great deal of time dialing in the shop as well as organization on my new transit this year.
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Old 12-03-2016, 04:10 PM   #89
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Adding a small used pick up as another estimate truck for my brother and i to share.



Gonna work out a deal with my friend at the yard that also does gutters to split a helper. Im equipped with two machines and trucks but we work as one crew. Once in a while running a second truck will help me keep up if get too busy. Ill go out and do the easy jobs with a helper.



Lose my gut


Picked up the second estimate truck. Never got that other worker to split. Did more in sales than last year by a few K. Still have my gut.


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Old 12-03-2016, 04:20 PM   #90
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Had to revive this thread and see how we all came out on our goals for this year. It was a good year. I'm looking forward to 2017.
Been awesome to see your progression. Proud for you, hoss.

I'll update mine when I can. We should do this every year, that post really hits you in the face
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Old 12-03-2016, 04:23 PM   #91
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Re: What Changes Are You Planning For 2016?


I had a crazy year. I tried to be smaller and focus more on what makes me money. That works. I did double the gross sales of last year with 1/3 of the employees as I had last year.

Question is, what's the plan for 2017 and the way to expand on it?

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Old 12-03-2016, 04:32 PM   #92
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Congrats Spencer! I have a ton of respect for you and how you seem to run your business!
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Old 12-03-2016, 05:04 PM   #93
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Re: What Changes Are You Planning For 2016?


I never posted a goal here last year, but I had openly joked last year about raising prices 10% every year until I price myself into retirement. While I didn't do that intentionally, I still made more money in the first 9 months than I ever had in any year. All 3 employees also received raises, and will probably get another one very soon.
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Old 12-03-2016, 05:52 PM   #94
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I never posted a goal here last year, but I had openly joked last year about raising prices 10% every year until I price myself into retirement. While I didn't do that intentionally, I still made more money in the first 9 months than I ever had in any year. All 3 employees also received raises, and will probably get another one very soon.
Are you primarily still a new construction framing sub?
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Old 12-03-2016, 06:37 PM   #95
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It wasn't a goal for a specific year, but I have always wanted to get to the point where the company could buy us trucks for work and personal use. We did that this year. They were slightly used but we were still able to pay cash for them. Next year I want to replace our van with a new Transit/Promaster.

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Old 12-03-2016, 08:09 PM   #96
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Are you primarily still a new construction framing sub?
Not really. We had exactly 2 new construction frame starts this year. Both were 1600 foot simple ranches. We did finish up a large one in April, but it started in 2015.

Our best jobs tend to be as a sub on very large remodel/addition types. Typically, these will be 400 to 500k jobs, and will keep us busy for several months with demo, framing, siding, exterior trim. One of these along with a few new frames, and a couple of insurance jobs seems to be working out nicely.
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Old 12-03-2016, 08:56 PM   #97
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Hiring another employee or two. Done

Buying another van. Not needed yet, but maybe 2017

Buying a truck and trailer. See above

Introducing bathroom packages and launching our new website. Still working on the packages but did launch our new site with great results.

There is a ton we have in the works. Looking forward to the new year!

Oh, and finally buying the TS55 and Midi vac (that was for you Travis). Still haven't done this...it's been 2 years or so that I have been discussing this.
Not too bad for this past year. We did end up exceeding last years revenue by $150,000.
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Old 12-03-2016, 09:10 PM   #98
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Not really. We had exactly 2 new construction frame starts this year. Both were 1600 foot simple ranches. We did finish up a large one in April, but it started in 2015.

Our best jobs tend to be as a sub on very large remodel/addition types. Typically, these will be 400 to 500k jobs, and will keep us busy for several months with demo, framing, siding, exterior trim. One of these along with a few new frames, and a couple of insurance jobs seems to be working out nicely.
200-500k remodels are my main wheel house, some new construction and boat docks mixed in. I do well on them and it Knocks the real paper boys out of the process because they don't know what they are doing. High end , large scale remodeling is a niche not many are suited for. Builders or subs.
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Old 12-03-2016, 09:21 PM   #99
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200-500k remodels are my main wheel house, some new construction and boat docks mixed in. I do well on them and it Knocks the real paper boys out of the process because they don't know what they are doing. High end , large scale remodeling is a niche not many are suited for. Builders or subs.
Very true. Paper boys shouldn't remodel. I have a paper boy I trim for that does some remodels. Every time I walk into one to trim it I shake my head.
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Old 12-03-2016, 09:25 PM   #100
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Warren, did your two main builders switch to major remodels as a business plan, not getting calls for new stuff or not being awarded new stuff?

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