Help I Am Going Under

dwest

I need some of your guys opionons and thoughts on this. I have been working in this feild now for almost 19 years and a few years ago I started my own business. Everything started out great business was good and I was never out of work. Now this last year my business has takin a major downfall and I feal I am done for now. All my money has run complety dry and I am getting no job leads. What I am not getting is why I am failing like this. Many people know of me and my high quality work (I have never done a shotty job in my life) and I even give a 1 year guarantee on all my work. I just dont get it? The last thing I wanna do is shut down my business but unfortanally its comming to that. Has anyone else here ever run into this and pulled away? Like I said I have absoulty run broke trying to stay alive in this. I have been trying every means of free advertising i could. Even posting on here that I was looking for sub work and I was willing to travel anywhere in the northeast but to no luck. Does anybody here have any suggestions for me.

AAPaint

You've been advertising steadily and not getting any calls at all? Forgive me if I don't understand. I've only been on my own for 3 years, and I'm just getting the ball rolling. I have down time where the phone doesn't want to ring, so that I understand, but if I'm actively advertising I am getting leads.

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-AAPaint

AA Quality Painting & Pressure Washing LLC
Jacksonville Painters
Jacksonville, FL.

tcleve4911

Sorry to hear that but you're not alone.
Can you go to work for someone until you're back on your feet?
The real thing to look at is why it didn't work. Did you have borrowed money? Were you really making money? Did your overhead change?
Take an honest look at your financials & your life style.
Best of luck & don't give up. It's the winter blues......

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Back in Maine
Dubbin' Around
Doin' good stuff ......

realpurty2

I hope my reply doesn't sound harsh, it isn't meant that way. It sounds from what little information you gave that you weren't adequately prepared to go out on your own just yet.
Being "adequately prepared" means so much more than just having good trade skills.

You need operating capital in the bank..with two months advance being the suggestioned amount.

You need not only advertising/marketing, but marketing that will make people want to call.

You need to provide a service that is in demand in your area. You might be the best "any trade here" but if there is already 30 well established ones in your area, you'll have a hard time breaking through in enough time to stay afloat.

You need a basic accounting or business skill to be able to calculate your rates, manage your cashflow, project future expenses to prepare for etc. If you lack those skills, you need the funds to hire an accountant to do those for you.

There is so much more but without knowing exactly where you broke down at, it's hard to suggest a specific fix. Just being a super tradesman isn't always enough in this industry.

Can you give us more details of areas' you'd like suggestions on improving?

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Woman in a Man's World.

Tom M

Dwest Im hanging on as well far fewer leads than a year or 2 ago. Im going into debt staying afloat its never been like this. I been 15 years self employed if I had a slow spell it still didnt amount to more than a week or 2 out and even then I had jobs laying around I just didnt want to do. Ive been ranting about this and it sounds dumb but its out of control I even considered doing some sub work for guys I know doing developments but there dead. There not building because they have empty homes sitting around and inventory piling up. Theses subs are now coming into residential for work. Its not good. Im hoping for a good spring season but I dont like what I see. If your seasonal or not keep a credit line like I do with the bank. It has kept me afloat for many situations,taxes,repairs, equip, slow spells or slow payers. Good luck hang in there.

dwest

Nothing has really changed in the last year. I have never borrowed money for my business always was making a profit and business was dropping all year so its not just the winter thats puttin a strain on me. Nothing has really changed. And yeah I have been trying to drill some of the other contractors I know for some work but to no luck there. Unfortanaly most of the guys I know make real good money during the summer months so they can take the entire winter off for snowmobiling.

tcleve4911

D-
Are you new construction or remodel?
Commercial or residential?
What's your specialty?

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Back in Maine
Dubbin' Around
Doin' good stuff ......

King of Crown

are you liscenced? because if you are, by law your work should be insured for a year so thats not a big selling point.

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Real nice guys

tcleve4911

Hello King, Help me with this. Sounds like you were addressing a warrenty issue. Did you post in the wrong place? or misread dwest's post? Just curious................

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Back in Maine
Dubbin' Around
Doin' good stuff ......

dwest

Unfortanally nys doesnt have any licencing so thats not the issue here. Allthough i wish they would instate that business would be better for us guys that know we could pass the tests and it would weed out all these hacks who just throw a sign on there truck and say I'm a contractor.

And on the other note I was doing res. and commerical remodeling and used to do new construction but not enough of that around everyones buying not building here

King of Crown

He said he has a one year guarantee on his work and was stating it like a selling point. If that was a selling point, and they had licensing in New York, it would not be a selling point and thus the root of his problems. Please dont make me explain myself again.

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Real nice guys

PressurePros

Free advertising is worth exactly what you pay for it. Can you get a hold of any money to launch a small marketing campaign?

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Ken Fenner
Pressure Washing PA
Roof Cleaning Services PA

King of Crown

Wow! I cant believe a state like New York doesn't have licensing.
That sucks.

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Real nice guys

dougchips

Door hangers and a comfortable pair of boots.

Stone Mountain

No leads? At All? Literally nothing? Nobody calling for anything at all?
Then you should adevertize elsewhere.

If you ARE getting leads, but can't close them, take a real GOOD look at yourself.
-pricing?
-presentation?
-your appearance? (dress, mannerisms, car, body odour or bad breath)
-your knowledge?
-How you come across?
-are you quoting the wrong people?
-or the wrong jobs?

I'll tell you one thing. The customers can SMELL desperation. If they have even the slightest sense that you're not doing well, they'll know. At whcih point they either turn off to you, (rats deserting a sinking ship) or they'll go for the jugular on price.
You might want to do a good self evaluation!

Steve

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Residential Deck Specialist: Vist our Website
www.fenceanddeck.ca

dougchips

Wow, its cool that you can come on here and share your bad luck without people busting your nuts. I hope everthing turns out for the best for you. Put some thought into my door hanger post.

Charles Bagley

I would go back to your past customers and see if they need anything else done. Also don't be ashamed to ask them for referrals of friends who might have mentioned needing something done. I would get my boots on the ground and start putting up some door hangers or advertise in the weekly want ads. Our town has a paper called the American Classifieds. It has ads from people just wanting to sell stuff to contractors trying to solicit business. It is very cheap to advertise and it is distributed all around town free.

CB

highgear

stone mt- you are 100% correct. Being green shows. Be confident, don't stumble over your words when you are talking to a customer.Learn to know what a customer want's to hear.

theworx

You asked has anyone ever pulled away??? I did... I did well for two years on my own, built a good reputation, and the work was there... I was just too green as far as estimating and charging enough. Not to mention took on jobs that were way beyond what I was capable of doing in my last year (jobs that much larger businesses turned down because of the scope of work)... Bit me in the ass!!! Closed up shop and went back to work for a commercial GC that I've worked for in previous years.

Ended up going back to school and getting my carpentry ticket and have been making top wage for my trade for many years... For me it was a good choice... Although, have learned estimating and managing skills in the last few years (that I didn't posses before) that keep me thinking I should try it on my own again now that I have a clue!!!

My point, nothing wrong with making top wage for your trade (working for someone else) for a while as you figure out how to make running your own show work again!!! Hell, it pays the rent and puts food on the table!!! Best of luck to you!!!

ultimatetouch

Do you like selling jobs?
Why do you like working for yourself?
Are you comfortable asking people to write you a check?
Do you like spending money to make money?
How much money are you comfortable working for?
Do you want to do the office work and everything to go with it?

The reason I am asking these questions is because maybe you should pick a good company(good management) and stick with them let them do all the above that you dont want to do. If you dont have a problem with the things above than try working for someone until you get the funds up and than start advertising with door hangers, etc.

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Ultimatetouch
Illinois Remodeling Company, Kitchen Remodeling Chicago, Room Additions Illinois