Just giving more wont work. Value based on action does. Come up with a pay/quality reward scale and make it known. Also make it known that you give 3 shots a bad work/actions and your gone.I am in a state of growing pains. I am at the stage where my clients are used to me showing up and doing the job. Well I have hired a few people and they are not me. Also now I regularly get asked to bid larger projects and when I send guys to the work I find there resume is embellished.
How does everyone deal with growing pains.
Too early in the morning for a sentence like that.And remember, we all think that we know what we think we know until we find out we don't.
Good advice from TNT.
Raise your prices. You must cover your overhead and you must have a real profit margin.
and ignorant people will say, "Wow, you made $3500!"I just cleared a 30% profit on a 10k job
Any money made (profit) on a job is after ALL expenses have been paid, including my salary.and ignorant people will say, "Wow, you made $3500!"
Now let's say you get on ten grand (!) job a month during 'the contruction season of 8 months. You just made 28 grand for one year.
That's ten grand UNDER the median income for your state....oh, and you're living in a very high cost of living town in a state with a very high cost of living.
And I'm assuming in order to subtract all your costs from that 10 grand (!) you also deducted things like your health insurance, workers comp insurance (aflac?), business insurance, work related costs such as tools and consumables, rental expenses for any shop/warehousing, and of course if you don't take the time to calculate all of these, then also deduct the price of an accountant/cpa.
People that don't understand this, we can take the time to educate them.....or just ignore them and move on. I do the latter as life's too short to be constantly dealing with ignorant people.
Here is a fact of life in this business (or practically any other business for that matter): These same ignorant people, you've referred to, do NOT have to pay your bills, period. You know full-well (or we each should know full-well) what it takes for you to pay all job costs (labor and materials, or any other costs associated with a specific job, which includes your own wages), all overhead costs of staying in business (which drastically vary from one business to another), then your mark-up and profit you have calculated for you to continue to stay in business, and remain viable.and ignorant people will say, "Wow, you made $3500!"
Now let's say you get on ten grand (!) job a month during 'the contruction season of 8 months. You just made 28 grand for one year.
That's ten grand UNDER the median income for your state....oh, and you're living in a very high cost of living town in a state with a very high cost of living.
And I'm assuming in order to subtract all your costs from that 10 grand (!) you also deducted things like your health insurance, workers comp insurance (aflac?), business insurance, work related costs such as tools and consumables, rental expenses for any shop/warehousing, and of course if you don't take the time to calculate all of these, then also deduct the price of an accountant/cpa.
People that don't understand this, we can take the time to educate them.....or just ignore them and move on. I do the latter as life's too short to be constantly dealing with ignorant people.
and ignorant people will say, "wow, you made $3500!"
now let's say you get on ten grand (!) job a month during 'the contruction season of 8 months. You just made 28 grand for one year.
That's ten grand under the median income for your state....oh, and you're living in a very high cost of living town in a state with a very high cost of living.
And i'm assuming in order to subtract all your costs from that 10 grand (!) you also deducted things like your health insurance, workers comp insurance (aflac?), business insurance, work related costs such as tools and consumables, rental expenses for any shop/warehousing, and of course if you don't take the time to calculate all of these, then also deduct the price of an accountant/cpa.
People that don't understand this, we can take the time to educate them.....or just ignore them and move on. I do the latter as life's too short to be constantly dealing with ignorant people.
any money made (profit) on a job is after all expenses have been paid, including my salary.
thank you!here is a fact of life in this business (or practically any other business for that matter): These same ignorant people, you've referred to, do not have to pay your bills, period. You know full-well (or we each should know full-well) what it takes for you to pay all job costs (labor and materials, or any other costs associated with a specific job, which includes your own wages), all overhead costs of staying in business (which drastically vary from one business to another), then your mark-up and profit you have calculated for you to continue to stay in business, and remain viable.
Far too many times we see others, even so-called experts (bankers, etc) telling us what we should be making in order to stay economically viable. Once again, the problem is: These folks, none of them, are not burdened with having to pay all your bills!
Sorry for the small rant, but i always find this price/costs determination by others utterly amazing!
I also just cleared a 1.5% profit on another job I wrapped up last week.and ignorant people will say, "Wow, you made $3500!"
I know it doesn't work that way of course, I lost my butt this spring on a job, worked for $2.00 an hour covered no overhead. But paid out all the labor and materials. I made a mistake on the bidding and estimating, you live and you learn
Now let's say you get on ten grand (!) job a month during 'the contruction season of 8 months. You just made 28 grand for one year.
That's ten grand UNDER the median income for your state....oh, and you're living in a very high cost of living town in a state with a very high cost of living.
I do a solid volume of work 8 months of the year, a 10k job is a small fraction of income per month, yes there is 4 months of "slow", but I'm always busy for the four months, this winter is look very good
And I'm assuming in order to subtract all your costs from that 10 grand (!) you also deducted things like your health insurance, workers comp insurance (aflac?), business insurance, work related costs such as tools and consumables, rental expenses for any shop/warehousing, and of course if you don't take the time to calculate all of these, then also deduct the price of an accountant/cpa.
cost of job 10k: 20% covers overhead, I bill myself out at $30.00 per hr when I'm working on that job, add up material and subcontractor invoices and then subtract....................
People that don't understand this, we can take the time to educate them.....or just ignore them and move on. I do the latter as life's too short to be constantly dealing with ignorant people.
and I say go find em, there is a reason those contractors are slowmy favorite these days is.. "economy is slow, you can find contractors willing to do the work for 30% less than before" gotta love that. like our costs went down at all??
