Key Elements To Being A Good Businessperson

elvinstheman

I’m just starting out and wanted to get everyone’s opinions of what the keys to being a good business person are. My initial thoughts are:

• Getting good at developing detailed estimates
• Keeping current on all paperwork/having neat files/good organization
• Setting up your business with intelligence (becoming an S Corp, etc.)
• Having good customer contracts
• Consistency with billing
• Being efficient on the job (lists, thinking/ordering ahead, arranging subs at the right time, using critical paths, etc)

What else?

__________________
Take a long, hard look at your elf.

john elliott

The one I like, which sounds over-simplified but does encapsulate much good business sense, is

Make sure more money comes in than goes out

John

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Ed the Roofer said "John too, in his crass and blunt demeanor.............."

POOLMANinCT

the basic rule

you need more gozingas than gozouttas....

elvinstheman

So I'll add "fiscal discipline" to my list. Cool. 'Cept that means I can't get my Ford F-250 King Ranch this year. Dang! But seriously, excellent point.

What else?

__________________
Take a long, hard look at your elf.

realpurty2

Organization- The more of the regular tasks you can have ready in advance, the more time you have to concentrate on the important stuff or more time in a crisis.

Also, Plan now for the Unexpected later.

__________________
Woman in a Man's World.

Mike Finley

A big ingredient of being a "business person" is a very simple concept that will take you from rags to riches, yet very few people can do it.

Do what you say you will do, and do it when you said you would do it.

Think about it and think about yourself and all the other people in business and think hard about all the times that they or yourself just can't do that. Think about all the little excuses and rationalizations everybody comes up with - traffic made me late, supplier messed up the order, kids kept me from getting out the door, it took longer than I thought it would to (fill in the blank).

Do what you say you will do, and do it when you said you would do it.

Doing that will make you a super star in the business world because no matter how good intentioned people are, very few people can do it on a consistent basis.

And if you want to know the other magic ingredient it's : persistance.

PressurePros

Excellent points made by all.

My definition depends upon what aspect you are analyzing. Running a business is a combination of all the key points brought up. I operate with integrity. I don't make promises upon which it may be hard to deliver. I would ride a bike to an estimate if all my vehicles broke down. I would rent equipment if every machine broke down simultaneously. This is what a professional company does.

What the customer sees
Are your trucks and equipment clean?
Are your guys dressed properly?
Do you have set guidelines regarding smoking and eating on customer's property?
Do you set the rules on appropriate behavior and customer interaction at a jobsite?
Does the customer clearly understand the scope of the work performed and the time it will take to complete?

Behind the scenes
You have to know your numbers. What are your true costs to start your trucks and send your guys out every morning?
Are your bill rates in line with production rates?
Are you covered by the requisite insurances?
Do you have a sytsem in place for invoicing and receivables?
I like "fiscal discipline" On our boards we have guys posting every other week about new equipment they bought. Its none of my business, but my rule of thumb is, if it doesn't make me more money, I don't need it.

There are a hundred things that can set you apart but I saved the best for last because it will get the most hype.

::drumroll::

If you want to make money in any business, you better know how to market and how to sell. There I said it.. Get the hanging ropes and march me to the gallows.

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Ken Fenner
Pressure Washing PA
Roof Cleaning Services PA

WaltG

Fully agree Ken...

And develop SYSTEMS for EVERYTHING in your business, including marketing and selling.

You don't really have a business, or can call yourself a businessowner, until you have effective marketing and sales SYSTEMS,and SYSTEMS that get the work done, that replace you, the owner.

Until this happens, you have ajob. You simply happen to be self-employed.

dirt diggler

great thread

Dave Mac

yeap, thats why i always under promise and over deliver,

i agree with you mike100%

thanks
dave mac

Grumpy

Customer service is key.
Know your product or service.
Do what you say.
Always act with honesty and integrity.

Perhaps the most important thing is KNOW YOUR NUMBERS. Know what your costs are so you know what you need to charge. You can be the most honest and best skilled tradesman but fail because you are too cheap!

kylemfk

bingo! good advice

Ed the Roofer

Failing to plan will result in a defacto plan to fail.

Set short range goals.

Where are you at now?
Where do you want to be?
How will you get there?

Then mid-range and long term goals as well.
Goals will need to change, so adjust frequently.

Keep emotion out of business transactions, but instill emotion about your product, through your marketing and sales.

Learn who you want to target as your consumers and learn how to acquire that demographic. Repeat as necessary, which is repetitively.

Learn the true costs of conducting a business and charge for what you need to acquire in the future.

Regarding your new truck, the best thing my banker ever did for me when I was starting out was turn me down for a loan to purchase a new stake bed truck and a hot tar kettle. I got by with used ones at first and therefor did not windd up going broke during the sparse times.

Learn to trust the right person to delegate tasks that are your shortcomings or that consume too much of your time for trivial redundancies.

When you get rejected, it is only a numbers game. so get back out there and try again, and you will attain a modicum of success. For further success, never stop learning.

Ed

Same Old

All they know about you is what you sell them

You define your customer relationship as much as they do.