End of the year

Okiecontractor said:

My father asked me this evening since the year is nearly over what I plan on changing going into the next year. I know everyone has things in mind so lets here some of them.

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I changed my business model about two winters ago and it's really working good.

Using mikes reverse appoint system for customers. It works pretty good and will expend it to work a little better for me this year.

Become more efficient and returning phone calls on time.

Keep looking for a warmer state to move to. Michigan is booming right now and I plan on building up my reserve funds and moving south. Or west

I am focusing on growing my internet sales (only 1% of my work comes from the internet...Im spending thousands to get that # to 15-20%)

I just implemented a new time card tracking system. The guys used to keep up with their own hours and I would spot check them. Did some math and found out I was losing over $140 a week in just un reported lunch time let alone the few minutes late here and there.
We are now using Tsheets starting monday, I plan on paying more attention to my overhead from now on.

Making changes all year!

During the past few weeks I started paying more attention to the prices I pay at supply houses. I made a database where I can input the price for the same items at several supply house and I think I will save about 10%. It doesn't sound like a lot to save, but we spend about $20k per week.

My second goal for next year is to spend a lot of time and money for hiring and training canvassers and closers.

My third goal is to start taking off more time because I will be 64 years old next June and I'm still working 6 days per week almost every week.

Make more money

Hoping to expand the number of spec homes we do, decrease our reliance on residential remodeling and add septic pumping to our business model.

I also hope to create a separate company for the septic business.

Take more time off that is goal number one.

Number two would keep better track of overhead. Have been bringing in so much money and haven't tracked where it is being spent as much as I should.

Cole

Be more organized. Flat out more organized. I need to keep better track of my overhead and profit for each job so I can track how accurate my quotes are. It looks like it evens out in the end but I might be losing money on jobs and not really know how bad.

I also need to double my business from last year. That will take chasing down a lot more leads an looking for new opportunities.

I work 7 days a week year round [If I can] I worked Christmas day the last two years ...I have a 16 year old Daughter and a 12 year old son. All they know about there Dad Is he works all the time..That Is my goal in 2014... Spend more time with the kids. It won't be long until I'll regret I didn't.

Cole82 said:

Take more time off that is goal number one.

Number two would keep better track of overhead. Have been bringing in so much money and haven't tracked where it is being spent as much as I should.

Cole

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Keep more money is actually more important. It's not what you make, it's what you keep :thumbsup:

Stevarino said:

Be more organized. Flat out more organized. I need to keep better track of my overhead and profit for each job so I can track how accurate my quotes are. It looks like it evens out in the end but I might be losing money on jobs and not really know how bad.

I also need to double my business from last year. That will take chasing down a lot more leads an looking for new opportunities.

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I'd worry about straightening out those numbers before doubling your business, and chasing down more leads.

Markup and Profit is a good book to start with.

Good Luck :thumbsup:

I have price changes going in Jan 1. For the last three years I haven't changed them so it's time. I just hope the "low ballers" who will be out of business in a year won't affect me too much.

lawndart said:

I'd worry about straightening out those numbers before doubling your business, and chasing down more leads.

Markup and Profit is a good book to start with.

Good Luck :thumbsup:

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Markup and Profit is a good book but when there are folks in the same area as you doing business that can't read and low ball things it's hard to stick to the lessons in the book. If only everyone cared about making a decent profit we would all be close in our bids on work. Some people only think about today and not about what is going to happen during times of little to no work.

Had a great year, not planning to change anything and I hope the next year will be the same but I will never say no to a better one :thumbsup:

With that said, I wish you all the same and the best of every thing to you and your family's :thumbsup:

gastek said:

I have price changes going in Jan 1. For the last three years I haven't changed them so it's time. I just hope the "low ballers" who will be out of business in a year won't affect me too much.

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I raise my prices every year and have never seen any loss of business over it.....you should NEVER skip raising it yearly...that just puts you further behind forever

I typically raise mine $3-$6 a year

huggytree said:

I raise my prices every year and have never seen any loss of business over it.....you should NEVER skip raising it yearly...that just puts you further behind forever

I typically raise mine $3-$6 a year

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I usually raise my prices or offer a discount depending on what the supply house is doing. When I can pick up a box of cabling for 60$ as opposed to 95$ I can afford to offer 10$ off a box to a customer.

I don't go by year for pricing I go by market value. Luckily for me prices have been staying steady or dropping.

In 2014 I plan to try and watch for products to be on sale and buy in bulk to help maximize profits.

End all contract work and strictly spec build.

Shellbuilder said:

End all contract work and strictly spec build.

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So some poor bastard can spend the next 15/30 years paying for a POS??

I'm jumping in with both feet. Did a lot of researching, found my most profitable service and focusing on that.

If it doesn't work, I'll just take the job at the supply house I keep getting offered.