Copus And Business Size

copusbuilder

There are two sides to business. I spent many years with the hustle-bustle growth thing.
If thats what someones wants then more power to them.

I know people that have become very succesful working hard at what they do. The downfall is when you continuously work hard to acheive something that is who you become. It is hard to let that go and be "Dad" or "Husband" or "Nice Guy" or gal

__________________
www.copusconstruction.com
www.etexasrentals.com
www.thelakevoice.com
AkA Richard Cranium

Ed the Roofer

I make more and have a sufficient amount of time for family and friends by being "downsized".

Up through 1993, I had 27 employees, and for the past 8 years or so, I have found 7 to be quite comfortable. I do not make the same gross as I used to, but the Net is actuall not that far off, with alot less headaches and punch lists.

I "Fired" all of the new construction I used to be involved with. sometimes, I miss all the extra hustle and bustle, but I much prefer spending time with my wife and 4 3/4 year old son.

I make the time to take him to pre-school each day at 9:00 a.m. and then my work day officially starts.

Ed

copusbuilder

Precisely what I found
Glad you made your business work for you!

I actually saw an increase in my paycheck for the first two years of downsizing. It leveled off slightly lower after that, but the hours worked were so much less and the other business openings were substantial.

Enjoy that kid while you can! There are no second chances.

__________________
www.copusconstruction.com
www.etexasrentals.com
www.thelakevoice.com
AkA Richard Cranium

Grumpy

Is that really true? I don't think it is. While I don't know Ed's entire situation, I know he does alot of work in his business. He has a job. At very least I know he does his own sales. He works for his business. That's not meant to be insulting just a correction as to my perception of reality. I might be wrong but I don't think Ed's business totally works for him yet.

I am trying to build something where I can totally remove myself from the picture and become a share holder. I am trying to build a money machine. I am trying to work harder now and set the foundation so I can work less and retire early but still make money from this business. I am trying to build something that someone will want to buy and nobody wants to buy a job.

true story. I posted recently that I am looking into buying a business in the future so I started hunting around now to see what things cost and the process of doing so... Anyways everything for sale is a job, none are businesses. There is not one business I have investigated where I wouldn't be required to work full time... and all of these businesses are still on the market, and I predict will remain for quite some time until they liquidate their assets and disolve.

I'm thinking of low balling them for their phone numbers and customer lists. Everything else is a liability. I want a company that is worth more than the value of it's assets.

copusbuilder

Sure he did....He is spending time with his kid, family and friends, He has not taken a significant pay cut...and he is enjoying his wife. He even has fewer headaches.

Go back and re-read what I am saying Grumpy. I think you are missing the point.

__________________
www.copusconstruction.com
www.etexasrentals.com
www.thelakevoice.com
AkA Richard Cranium

Grumpy

I am not mising any points here Copus. While Ed may work less, he still works. I just wanted to correct my perception of your statement. Again perhaps I am wrong, and if so Ed willc orrect me... But between you and I this is the argument/discussion/debate that never dies.

copusbuilder

He may or may not. It appears he has chosen a different avenue?
His "baby" is not his business it is his 4 1/2 year old.

Reading your Glutton for punishment thread makes me think you have some real life lessons facing you Grumpy.
Profitable businesses for sale that one doesn't have to work at are everywhere Just keep looking
I wish you luck and happiness and hope you succeed in your dreams.

__________________
www.copusconstruction.com
www.etexasrentals.com
www.thelakevoice.com
AkA Richard Cranium

Grumpy

Babies and businesses are apples and oranges. One lesson I have already learned is that one must make time for each. I wish to spend time with my family and I do. Iinfact the reason i work hard and the reason I am trying to build a self sustaining business is so I can spend time doing what I enjoy rather than work like a dog.

Food for thought to anyone following this thread. If you take two weeks off, will your business suffer in your absence? Will your business suffer after you get back because of your absence? Will things NOT get done when you are gone? If you answered yes to any of these questions then you work in your business.

I know and know of many people who have built their businesses into essentially money machines, where they remove themselves from the business and it still operates. That is truly a business that works for you.

Yes I have alot of lessons to learn. Yes I put alot of my trials and tribulations out on the public forum for people to read, comment, learn and teach. A) I am hoping to get a 2nd perspective on things from people whoe have been there and done that. B) There will ALWAYS be a fire to extinguish so you will always be able to find a post of mine complaining about how things are going, but I tend to learn from my mistakes and move onto the next. C) I am hoping someone else in my shoes will learn from my mistakes and not face some of the same challenges I have. I have alot to learn but so do you, because the day we stop learning is the day we die.

So yes I have alot to learn about building my business, if not I'd already be where I want to be.. relaxing with my beautiful latina wife and children sipping Hurricanes (not the kids ofcaorse!) on the balcony of our Puerto Rican vacation condo overlooking the ocean, while my well compensated employees generate profit for my business. I'll be there one day, as I get these lessons learned I move a step closer. But one thing I know, is I can never do it alone, and I can never do it until my business truly works for me.

I can think of a ton of cliche statements which describe how I feel about building a business... "Good things come to those who wait." "If it were easy, everyone would be doing it."

Those who think it's not possible just look at the establishments you shop in each and every day and think to yourself how many business owners running running the daily grind of those businesses. McDonalds? Walmart?

Ed the Roofer

Grumpy,

Do not change a thing about the way you are going about attempting to implement a "Systemized and Auto-Pilot" style business.

I admire all of the hard work and also the perserverance you have and continue to advance. So, even if I ever disagree with you, it is only to point out a different perspective. You have my utmost respect for your endeavors to follow the e-myth down to a tee.

I have a partial business, but one that I am comfortable in working in. Not all things could continue on in an extended absence from me, but they will not go downhill immediately as well.

I am 50 % of the sales staff, but sell about 75 % of the volume. Unless I take on more true trained salemen, who could learn how to "Ask For The Job" and "Get It", I would be hurting over an extended absence.

But, at least I know that I can have about a month off, without the ship sinking. As personally experienced this past July 5th through the middle portion of August, when I came down with a very severe case of pnemonia and I also was initially mis-diagnosed with something called a "Hilar Mass" in my lungs, meaning one of the worst kinds of Lung Cancer and with the least chance of survival, like less than a 10 % rate, from what I had read when I looked it up.

So, success is in the eye of the beholder. My business has allowed me to own multiple properties, my office and shop along with some minor acreage, an apartment building, my home and 3 Harleys.

I still want to and probably need to work IN my business, but I do get the choice of choosing the tasks and the time frames that I do so.

Even before I ever registered on Contractor Talk, I remember reading various roofing forums on the internet and I always remarked to myself when I stumbled across your postings (when you aka'd as the Smurf), that there is one young guy who has a plan and wants to get his chit together, right from the get go. Yeah, thats right. I noticed who you were at least 2-3 years before I came on board over here. It probably even had something to do with one of your threads you were involved in, which finally prompted me to sign up.

There will always be continual hurdles. Heck, try running a business and going through a divorce at the same time. At that past time in my life, my ex's attorney had me scrambling all over kingdom come, to prove that the money I had in a savings account was the companys funds and not family savings. I used to take anything in excess of the current months bills and park that money in a personal savings account, just to add up a slight interest accrual, but that got turned around on me and cost me dearly, financially and emotionally. They tried to get $ 80,000 scooped right out of my business. Try to keep on going on with that kind of a financial hit!

Regarding the "Glutton For Punishment" theme;

Well.....What can I say? We have all gone through it.

The main point I was attempting to convey, was not about financial rewards or diminishments to the individual worker, but to have a competant and qualified # 1 man on the crew, who works not only for you but with you.

There should be no such thing as a punch list on any completed job, if your lead man aspires to similar ideals as yourself. Keep on searching for that Right Guy, because they are out there.

The crew leader or project manager, if you want to call him that, was apprenticed over at Adam's Roofing for about 2 years. It took about 2-3 years before he got the concept that I am continually striving for myself, regarding job "Perfection". It then took about another 2-3 years before I opened my eyes to his additional potential working with me, instead of for me.

I have had other such, "Key" employees, but your system should be in place to make most team members cross-trained, so that when the day comes and it usually will, that you no longer have that same individual on your staff, the learning curve for the next guy in line is not that significant.

And Copus,

Yes, I love the way my company gets on in business and perserveres the low tide times, but if I could get my handle on improving it in a big way, such as some of the direction that Grumpy is taking, I would gladly grab that bull by the horns and take that concept for a ride.

As long as I did not have to sacrifice my family time do do so.

Ed

Grumpy

Want to know something Odd? I've never read Emyth. Nope Infact I only just bought the Audiobook Saturday.

Everything I spit out of my head just comes from my lifes experiences,observations, and what I deem to be "common sense".

Ed the Roofer

I could have sworn that I read previously about your reliance on the e-myth princiles.

I am certain of it, but then again, I am certain that I am married to a 30 year old "Hottie"!!!

Oh yeah.....I am!

If you have never actually read the book itself, your ideology espouses that books theme very accurately, I believe.

C'mon, tell me that you have promoted that book and its conceptual content previously.....Pleeeeeese!

If you don't admit it and say Uncle, I will go back and find at least one post of yours that does say it.....I mean it!!!

I don't want to have to start agreeing with everyone else who knows me that I am losing my mind.

Ed

Grumpy

Think and Grow rich is the book I preach about. It has nothing to do with anything other than goal setting. It literally changed my lfe.

I know I have recommended emyth a few times to a few people. It seems to be the #1 recommended book by small business owners for small business owners.

Ed the Roofer

Okay, I feel better now.

Ed

Grumpy

Actually I just did a site search and only found one instance where I used the word myth and it had nothing to do with emyth.

Ed the Roofer

Okay, I am partially right.

You did have e-myth in one of your previous posts, but it was from a quote.

Quote:
Originally Posted by marc
Mellisa,

You have to do what you feel is best for you.
I believe that with that kind of thinking you don't have a business...........you have a job. Most likely a very poor paying job with lots and lots of headaches. (but if that's what you want then go for it) NOTHING WRONG WITH THAT.
If you only read one business book .....read the e-myth. Basically he states that there is only one reason why anyone should start a businees and that is to some day sell it and make money. If the business is only you or you and your partner, what is there to sell? Once you leave there is no business.

IMO If your not making more than 6 figures you should just go to work for someone. I have 5 employees that work for me that are making more than that without any headaches.

Marc, I agree with every word you just said. I'm not at 6 figures yet but there is no doubt I will be there soon, and I know that when it comes to retire this business I am building will be worth something to a buyer, more than just the value of it's liquid assets.

Back to the original subject. Let me state that by pulling a permit I know MY ass is covered. I know that if a pesky neighbor who doesn't like the noise I am making calls the bldg deptartment I am not going to have to undo alot of my work to show some inspector something, then redo my work. I know that I am not going to be fined, and yes I the contractor am going to be the one getting the fine, not innocent Mr. Home owner who refuses to pay for the permit.

Do you want to call it a draw?

Ed

copusbuilder

I have acheived all those things you are looking for Grumpy.
Once again I will explain.
I have tons of free time for myself.
I go to Houston once everyweek or two.
I spend maybe an hour a day on the phone and do a liitle paperwork most days
When I have large remodels I can do what I choose for weeks at a time (which is most of the time)
I took 5 years of doing next to nothing other than "Play" with my family.
I have started a vacation rental business with my free time that will dwarf my construction salary within the next two years.
I could go on but "maybe" you get the picture?

While you are working to hopefully build your mega corp. I have been utilizing my time to acheive more realistic goals. And I am doing it at my own pace.

What you are doing is fine if it makes you happy. Just don't become so frustrated when someone shows another avenue to success. Get rid of your tunnel vision and "look outside the box"?

I have never heard you say that my method of business has possibilities? The first step is admitting it Grumpy.

I may even start a thread about the possibilities?

Just think what possibilities a remodeler has in other businesses? No one can build a restaurant, home, store or most anybusiness cheaper! Why not do those things for yourself instead of others?

Do what you feel like with your business....just have a back up plan when
http://www.contractortalk.com/f15/glutton-punishment-putting-crew-back-together-27487/ in case that gets to be overwhelming

__________________
www.copusconstruction.com
www.etexasrentals.com
www.thelakevoice.com
AkA Richard Cranium

BreyerConstruct

Nice looking rental Mark!


Have you been able to keep them booked? I think that's one of my "fears" with vacation rentals...

~Matt

__________________
Custom Deck Builder Deck Designer Lancaster Deck Builder Berks Deck Cleaning
Breyer Construction & Landscape, LLC Facebook Page
www.BreyerConstruction.com

copusbuilder

Thanks!
We got on in mid June which was late in the season. They say most plans are made by February? We kept it pretty well booked in the summer and had nothing but positive responses.
We had referrals and almost all claimed they will be back??? I won't take it to the bank but it was positive.
I was very happy with what the first year has done to date.

The house we just bought and are redoing is directly on the water with large dock, pier etc.
This will be an easier rent and should stay booked a good portion of the year.

The ironic part is with drawing a salary from Houston I was able to build that house on the web site for under $60,000 with land spa and everything. it is all tile and laminate floors and has a lot of decks and nice landscape.
if I had to draw a salary I would not have been able to do it as easily.
Deferred payment on my labor is what I have done.

Look into it. It is nice to work with a business where people are happy. They are on vacation and want to have a good time.
They have been very friendly and very clean to date. Most even wash the towels before they leave

__________________
www.copusconstruction.com
www.etexasrentals.com
www.thelakevoice.com
AkA Richard Cranium

Grumpy

From what I know of your business it does not meet my end goals of building a business worth more than the valyue of it's assets.

Sure working leisurely and getting paid well for it has it's benefits, but what's left when it's time to retire? A beat up truck and some tools.

Do a few jobs a year make a hundred thousand per year for those jobs. Then it's time to retire after 30 years of the grind. What then? Copus is the business. Copus retires. No more business.

I am not my business. I am just the guy who runs it, and one day I will replace myself. I will remove myself, and I will still get paid for not working. i wille arn residuals for minor consulting and minor management and I will at that time I will no longer have to work to earn money. I will run a few estimates a week because that's what I wenjoy doing, but because I want to, not because I have to.


I do agree that horizontal and vertical expansions are important for overall growth however. For example in the future I too wish to setup a supply & rental business focusing on contractors. BTW I'll just be renting out my tools when I don't need them, and stocking all the common materials that my crews use every day. Each will be a means for my consturction business to yield more profit, and have a side business also making profit.

I also think that as you said, using your assets, such as building some vacation villas, or a multi family building and then holding onto them are excellent ideas. However these are all examples of side businesses. My focus on the above posts are on your core business of construction/remodeling.

The investment of time and money in a service business is usually less upfront money but more time organizing and managing than building and renting a multi family home for example. However the multi family home, while requiring less management does require more up front capitol investment. The investment property is a business that will work for you. But I am trying to to compare an apple to an orange here.

copusbuilder

Your a lost cause Grumpy. You started this thread and I have told you "repeatedly" how I live and do things. You have repeatedly ignored what I have said?
You suffer tunnel vision my friend

While you are spinning your wheels between hourly and sub employees and telling us all you are a "glutton for punishment" I am building real and material assets. All the time I am building these assetts I am drawing a paycheck!
As long as I feel like putting minimal time into my business I will continue to draw a paycheck.

It is not my baby,,,it is a tool for me to get what I want out of life!
When I am through with it I will throw it away! It has served it's purpose..I don't have to pin my hopes on selling it.
A business is a business it is not you or your ego.

The time you invest in your business may have been better spent elswhere??

I admire your persistance in your business but think you are truly off track with not being able to vary from full steam ahead, in a straight line.

__________________
www.copusconstruction.com
www.etexasrentals.com
www.thelakevoice.com
AkA Richard Cranium