Information Interview,,,,

jojo

Ok guys,,I need a little help..I am looking for a couple of you that have your own successful business,,I would like to ask you some basic questions on how you started up,,who helped,,finance,,etc,,,,any takers???
thanks,,,,

denick

jojo,

Sorry I can't contribute as a "successful" contractor. I've lived the construction business since I was born. I could go on for a long time about the construction part of the business but you didn't ask about that. You ask, and you should about the "business" part of construction. After all these years I would say, learn all you can about "business". "It's all in knowing the costs of doing business"
You might not be able to be good at business things but you can pay people to do many of the things you would learn but if you don't know the measure's needed to run a business it can be a very difficult road.

If you were here I would grab you by the collar and shake it into you.

If you were to go around and look at all the guys in your area who own machines and trucks. How many have,

A retirement plan with enough money going in to cover the projected cost of retirement?

A good health insurance plan?

A good life insurance policy?

Savings in the bank?

Money for their kids education?

Take 2 weeks vacation every year?

Their mortgage is only what they bought their house for and not a way of keeping the business going?

Are still married to the same woman after going through a down turn of the economy?

Their equipment spending is planned and controlled? (payments)

jojo, I could go on for a long time. It might seem that I am trying to say not think about going into business. I am trying to say "think" and educate yourself.

There is so much information on this site in the business sections, business classes where you live.

Read guys like Bob Kovacs posts about what he went through before he learned the "business" of business.

I better stop before jmic catches me and tells me to shut up.

__________________
Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

jmic

Go Nick, Go! You're right on, as usual.

__________________
___"Remember You Never Get A Second Chance To Make A First Impression"______________________
Joe

North Country

I have always had a love for construction/remodeling, I have a pretty good eye for design. I was fortunate enough to get started with a large project and kept going from there. Now, I'm not much of a salesman, but Im getting better with practice, but I am fortunate enough to have a degree in business as well as accounting, (believe it or not, I wanted to be a CPA, how boring is that), anyways, I sat behind a desk for a few yrs and decided, this isnt what I want to do. The most important thing I think is knowing what to charge, Michael Stone has a good book on this and Bob Kovaciks knowledge is priceless as well, (Bob, you should right a book), next important thing would be to start small and gradually get bigger, (you can get too big too fast you know, that will put you out of business, just as not charging enough. Anyways, thats my story and Im stick'in to it.

jojo

Denick,,Very good,,and I understand all that,,but,,I just wanted some insite on how you got started,,finance help,,what helped you in the bid process,,how many machines you started with,,starting rates,,,it would be interesting and help get a handle on things,,,

denick

Sorry jojo,

I'll address that a little latter.

__________________
Nick

"Every day I remind myself that my inner and outer life are based on the labors of other men, living and dead, and that I must exert myself in order to give in the same measure as I have received and am still receiving" Albert Einstein

PipeGuy

Jojo- send me a check for $many thousands and I'll send you a copy of my business plan. It contains all the information you're asking for. My bank wrote me a substantial start-up loan and approved a line of credit in no small part because of the plan's comprehensive ness and professional appearance.

__________________
Fortunately I keep my feathers numbered for...for just such an emergency. -Foghorn Leghorn

jmic

Hey Nick!
Congrats! ### 1000! Woo Hoo Way to go.

__________________
___"Remember You Never Get A Second Chance To Make A First Impression"______________________
Joe

rino1494

I gotta hand it to you. Starting your own business is tough, but you went out and started out big and being sucessful at that.

__________________
Life is hard. It is harder when you are stupid

Uncle Sam wants YOU....to speak ENGLISH

PipeGuy

"Started out" being the key phrase in all that. If I'm still in the game 3 - 5 years from now we'll see if we can start talking about "success". At this point the only success I can point to is on a job by job basis.

__________________
Fortunately I keep my feathers numbered for...for just such an emergency. -Foghorn Leghorn

jojo

OK,,so I'm crazy,,,but I got good sense,,I was in business for myself many years ago,,drywall was my thing (and it sucked),,it turned into my own job,,,so I do know many of the pit falls, I signed up with the people from S.C.O.R.E,,they really do know what they are talking about,,a business plan is on top of their list,,I am not going to quit my full time job anytime soon,,,but I would like to try to do this business venture the right way,,,so like I said ,,a little insite from you guys that know the business your in would be helpfull and interesting,,,,so far from what I have read you guys give good info....

dayexco

save/invest as much money now as you can, because when it comes time for you to sell....typically, an excavating company is worth what the machinery will bring at an auction sale...there is no blue sky. UNLESS, you're in such high demand with several developers that hire nobody but you.

__________________
someday, i'll be as patient as Nick.