Would you rather - Paint Talk - Professional Painting Contractors Forum
CLICK HERE AND JOIN OUR COMMUNITY TODAY, IT'S FREE!
Go Back   Paint Talk - Professional Painting Contractors Forum > Business > Business, Marketing, and Sales

Reply
 
Thread Tools Display Modes
Old 10-05-2015, 10:26 PM   #1
Senior Member
 
journeymanPainter's Avatar
 
Join Date: Feb 2014
Location: Vancouver(surrounding area) BC
Posts: 2,926
Rewards Points: 686
Thanks: 3,276
Thanked 1,655 Times in 1,065 Posts
View journeymanPainter's Photo Album My Photos
Default Would you rather

Would you rather have a 10% share of the 1% or a 10% share of the 99%?

I was discussing this with an old employer, and how he may not be the best painter around, or do lots of high end homes, but he's busy, expanding, and being profitable.
journeymanPainter is offline   Reply With Quote

Warning: The topics covered on this site include activities in which there exists the potential for serious injury or death. PaintTalk.com DOES NOT guarantee the accuracy or completeness of any information contained on this site. Always use proper safety precaution and reference reliable outside sources before attempting any construction or remodeling task!

Sponsored Links
Advertisement
 
Old 10-05-2015, 10:39 PM   #2
RH
Moderator
 
RH's Avatar
 
Join Date: Sep 2010
Location: Oregon
Posts: 18,375
Rewards Points: 10,200
Thanks: 11,533
Thanked 15,352 Times in 8,039 Posts
View RH's Photo Album My Photos
Default

10 of 1. Less work.
__________________
"Outside of a dog, a book is a man's best friend. Inside of a dog it's too dark to read."

Groucho Marx
RH is offline   Reply With Quote
The Following User Says Thank You to RH For This Useful Post:
journeymanPainter (10-06-2015)
Old 10-06-2015, 07:52 AM   #3
PinheadsUnite
 
daArch's Avatar
 
Join Date: Mar 2008
Location: almost there
Posts: 30,724
Rewards Points: 1,696
Thanks: 13,929
Thanked 17,336 Times in 10,141 Posts
View daArch's Photo Album My Photos
Default

Quote:
Originally Posted by journeymanPainter View Post
Would you rather have a 10% share of the 1% or a 10% share of the 99%?

I was discussing this with an old employer, and how he may not be the best painter around, or do lots of high end homes, but he's busy, expanding, and being profitable.
Did you word that correctly? If so, I do not understand. Sorry



__________________
"Glazed Donuts Are the Building Blocks of the Universe"

"Are we having fun yet"
daArch is offline   Reply With Quote
Sponsored Links
Advertisement
 
Old 10-06-2015, 11:28 AM   #4
Senior Member
 
CApainter's Avatar
 
Join Date: Jun 2007
Location: San Francisco Bay Area, CA
Posts: 13,963
Rewards Points: 1,066
Thanks: 11,151
Thanked 9,542 Times in 5,408 Posts
View CApainter's Photo Album My Photos
Default

I think basically it means, would you rather service an exclusive market, or service the larger market?

It has been the PT trend here for contractors to claim service for a more exclusive market at higher prices than general repaints at reasonable prices in the larger residential market.

I remember it being extremely condencending when another painter would brag how much they would charge compared to what I was charging. And granted, I was only doing side work like most of them were.

Hardly anyone wants to admit to being the low bid. It's as if the purpose of business is to boast about how much one makes rather than the actual service they provide. But of course, everyone who charges the high end for a paint job offers something more than their competitors. Yea, right.

Last edited by CApainter; 10-06-2015 at 11:40 AM..
CApainter is offline   Reply With Quote
The Following 3 Users Say Thank You to CApainter For This Useful Post:
journeymanPainter (10-06-2015), northcountrypainter (10-06-2015), Wildbill7145 (10-06-2015)
Old 10-06-2015, 01:41 PM   #5
Senior Member
 
Join Date: May 2015
Posts: 119
Rewards Points: 24
Thanks: 94
Thanked 65 Times in 42 Posts
View racx's Photo Album My Photos
Default

This question to me is really more the work you prefer. It doesn't matter what market share I have I still have overhead, profit, growth, and goals. This is where alot of guys screw up IMO. I've bid jobs for a interior of a 9500 sqft on high end retail at the same price of a 18000 sqft inside and out (Labor). I feel a better sense of accomplishment after doing high detail work but in the end I need to make my target goals for my business to survive.
racx is offline   Reply With Quote
The Following 2 Users Say Thank You to racx For This Useful Post:
CApainter (10-06-2015), journeymanPainter (10-06-2015)
Old 10-06-2015, 03:15 PM   #6
Senior Member
 
CApainter's Avatar
 
Join Date: Jun 2007
Location: San Francisco Bay Area, CA
Posts: 13,963
Rewards Points: 1,066
Thanks: 11,151
Thanked 9,542 Times in 5,408 Posts
View CApainter's Photo Album My Photos
Default

Quote:
Originally Posted by racx View Post
This question to me is really more the work you prefer. It doesn't matter what market share I have I still have overhead, profit, growth, and goals. This is where alot of guys screw up IMO. I've bid jobs for a interior of a 9500 sqft on high end retail at the same price of a 18000 sqft inside and out (Labor). I feel a better sense of accomplishment after doing high detail work but in the end I need to make my target goals for my business to survive.
This makes a lot of sense. I came off pretty bitter in my last thread and wasn't taking into consideration other people's business needs. But i did get a lot of the "Aw man, I would've charged this that and the other", when I did residential side work. It always left me feeling incompetent.
CApainter is offline   Reply With Quote
Old 10-06-2015, 03:49 PM   #7
Senior Member
 
journeymanPainter's Avatar
 
Join Date: Feb 2014
Location: Vancouver(surrounding area) BC
Posts: 2,926
Rewards Points: 686
Thanks: 3,276
Thanked 1,655 Times in 1,065 Posts
View journeymanPainter's Photo Album My Photos
Default

Quote:
Originally Posted by daArch View Post
Did you word that correctly? If so, I do not understand. Sorry
Yes, I believe I did. So would you rather have a 10% market share odd the top 1% or a 10% market share of the rest.

This was a big disagreement I had with my former business partner. He wanted to do the exclusive work and nothing else.
journeymanPainter is offline   Reply With Quote
Old 10-06-2015, 07:50 PM   #8
Senior Member
 
Join Date: Oct 2013
Location: MN
Posts: 1,114
Rewards Points: 660
Thanks: 580
Thanked 862 Times in 417 Posts
View Stretch67's Photo Album My Photos
Default

Quote:
Originally Posted by journeymanPainter View Post
Yes, I believe I did. So would you rather have a 10% market share odd the top 1% or a 10% market share of the rest.

This was a big disagreement I had with my former business partner. He wanted to do the exclusive work and nothing else.
If your a reader, I highly recommend Perry Marshalls "80/20 Sales and Marketing". Pretty enlightening. And u can get it juat for the cost of S/H off his website. I'd take 1% of the top 1%, before I would take 10% of the rest.

Make more money doing less work.
__________________
I got a post hole digger too! What's that got to do with the weather?
Stretch67 is offline   Reply With Quote
Old 10-06-2015, 08:24 PM   #9
Senior Member
 
Join Date: May 2015
Posts: 119
Rewards Points: 24
Thanks: 94
Thanked 65 Times in 42 Posts
View racx's Photo Album My Photos
Default

Quote:
Originally Posted by CApainter View Post
This makes a lot of sense. I came off pretty bitter in my last thread and wasn't taking into consideration other people's business needs. But i did get a lot of the "Aw man, I would've charged this that and the other", when I did residential side work. It always left me feeling incompetent.
I think pricing is one of the hardest things for most people but really doing business is different for everyone. They have some general guidelines out there but everyone has a unique situation that's why it's important for a business owner to really do the figures on their operating costs, future goals, and profits needed to obtain their goals.
racx is offline   Reply With Quote
The Following 2 Users Say Thank You to racx For This Useful Post:
CApainter (10-06-2015), SemiproJohn (10-06-2015)
Old 10-06-2015, 08:33 PM   #10
Senior Member
 
Join Date: May 2015
Posts: 119
Rewards Points: 24
Thanks: 94
Thanked 65 Times in 42 Posts
View racx's Photo Album My Photos
Default

Quote:
Originally Posted by bryceraisanen View Post
If your a reader, I highly recommend Perry Marshalls "80/20 Sales and Marketing". Pretty enlightening. And u can get it juat for the cost of S/H off his website. I'd take 1% of the top 1%, before I would take 10% of the rest.

Make more money doing less work.
Agree to a point but although they may be willing to pay more I think you put in a little more time on these jobs. Never read Perry Marshalls but have read Brian Tracy, Zig Ziglar, and a few others I agree with the 80/20 not just in sales but life
racx is offline   Reply With Quote
Old 10-06-2015, 09:38 PM   #11
PinheadsUnite
 
daArch's Avatar
 
Join Date: Mar 2008
Location: almost there
Posts: 30,724
Rewards Points: 1,696
Thanks: 13,929
Thanked 17,336 Times in 10,141 Posts
View daArch's Photo Album My Photos
Default

Quote:
Originally Posted by journeymanPainter View Post
Yes, I believe I did. So would you rather have a 10% market share odd the top 1% or a 10% market share of the rest.

This was a big disagreement I had with my former business partner. He wanted to do the exclusive work and nothing else.
Ahhhh,wouldn't it be better to strive for 10% of the WHOLE pie ? That would be the best of both worlds.



__________________
"Glazed Donuts Are the Building Blocks of the Universe"

"Are we having fun yet"
daArch is offline   Reply With Quote
The Following 2 Users Say Thank You to daArch For This Useful Post:
Gracobucks (10-08-2015), journeymanPainter (10-06-2015)
Old 10-06-2015, 10:36 PM   #12
Senior Member
 
journeymanPainter's Avatar
 
Join Date: Feb 2014
Location: Vancouver(surrounding area) BC
Posts: 2,926
Rewards Points: 686
Thanks: 3,276
Thanked 1,655 Times in 1,065 Posts
View journeymanPainter's Photo Album My Photos
Default

Quote:
Originally Posted by daArch View Post
Ahhhh,wouldn't it be better to strive for 10% of the WHOLE pie ? That would be the best of both worlds.
Cheater!
journeymanPainter is offline   Reply With Quote
The Following User Says Thank You to journeymanPainter For This Useful Post:
daArch (10-07-2015)
Reply

Tags
None

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -4. The time now is 03:04 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Content Relevant URLs by vBSEO 3.6.1
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
Our Pro Sites Network
ContractorTalk.com | DrywallTalk.com | ElectricianTalk.com | HVACSite.com | PlumbingZone.com | RoofingTalk.com