All of us have different backrounds and experiences since staring our businesses no matter how long ago. We would like to think that we have learned from our mistakes of from our experiences but it is not always the case. Since most of us use this site as a learnig tool and respect the advice of our peers, I thought this would be a good question. The question here is, looking back at your positive and negative business experiences, what would you have done differently to effect how your business stands today.
Learning from the past......
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30,726 Posts
WOW Neps,
That's a deep one. And a very personal one. Being on these forums and having the little dinner gathering in Norfolk a few months ago with ContractorTalk members, I learned one thing .... no, two things.
1) Most of you guys are so much more orientated around running a business than I.
2) I do not have the "personality" or the motivation to do so. I've tried, but it just weren't my cup of tea.
So, what I have learned, is to know my capabilities, my stregnths, my weaknesses, my true desires and to not be something I ain't.
That's a deep one. And a very personal one. Being on these forums and having the little dinner gathering in Norfolk a few months ago with ContractorTalk members, I learned one thing .... no, two things.
1) Most of you guys are so much more orientated around running a business than I.
2) I do not have the "personality" or the motivation to do so. I've tried, but it just weren't my cup of tea.
So, what I have learned, is to know my capabilities, my stregnths, my weaknesses, my true desires and to not be something I ain't.
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64 Posts
Well said DaArch. I could write a book. Sometimes it seems like every job brings me face to face with my ignorance in some form or another. One significant lesson I learned early is similar to DaArch's limitation comprehension. I learned to pace myself. When word of my work began to circulate through the communities, the phone starting ringing and I wanted to gobble all of it as quickly as possible. This led to rushing a job and completing it poorly. The clients were upset and I suffered with negative impressions of my work making its way through the grapevines. Now I make sure I organize each job with enough time to complete them up to the standard I and the customers demand.
I would love to confess more, but I can only take so much embarassment.
I would love to confess more, but I can only take so much embarassment.
I have had to struggle with straying from my original plan. I went into business to do what I enjoy, painting and restoring trim. I like to paint trim. I fight the urge to grow on an almost daily basis; people wanting walls painted or paper hung. I don't have any fun with that stuff so I stay away from it. Could I offer more? Sure. But then my F-U-N turns into a J-O-B.
Too complicated.
I have been very lucky to have work a plenty and an excellent reputation. I have a few guys that I refer the customer to for their other needs. They deal with the customer I don't sub-out. I have to keep it simple so I can continue to enjoy my work. I have bitten off more than I can chew on a few occasions and suffered for it. I overstepped my own boundaries .
Simple. I like simple. My work is about "MY" reward for a quality job. The customer gets the results of me making myself happy.
Too complicated.
I have been very lucky to have work a plenty and an excellent reputation. I have a few guys that I refer the customer to for their other needs. They deal with the customer I don't sub-out. I have to keep it simple so I can continue to enjoy my work. I have bitten off more than I can chew on a few occasions and suffered for it. I overstepped my own boundaries .
Simple. I like simple. My work is about "MY" reward for a quality job. The customer gets the results of me making myself happy.
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14,407 Posts
Similar to Stansoph's thoughts...you start out doing something you love doing. Then business realities force you to twist and turn it to figure out how to make it profitable, and you end up with something that doesnt look anything like what you started out loving doing.
All this to say, I would have had a better business plan and vision and stuck with it more concisely. Think of all the fun I'd have missed. :wallbash:
All this to say, I would have had a better business plan and vision and stuck with it more concisely. Think of all the fun I'd have missed. :wallbash:
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1,254 Posts
Well, I closed up shop a few months back, but I'll tell you something...I learned A LOT. It's very interesting being on this side of the fence now looking back at my business. I'm able to see a lot now, that I didn't see then-the goods and the bads.
If I was to open up shop again, the one thing I'd do is invest more money and time into establishing a good foundation for myself-instead of thinking that I could do it all by word of mouth and referrals (which most companies can't rely soley on). Laymen's terms=more and better advertising
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1,390 Posts
I don't have enough time this weekend to fully answer this question. So I'll limit myself to 3 things.
1. I would have developed systems much, much sooner. Without systems I was constantly stressing. Nobody did anything the way I wanted (of course I hadn't told them, largely because I wasn't even sure). Developing systems forced me to identify the results I wanted and the steps to take to get them.
2. Learn to sell at the right price. I went from 12 to 14 people in the field to 6 in the field and did the same amount of work. This also helped my stress level. But the best part was I started making money.
3. Invest in training for myself and others. No matter how many books I read, or tapes I listened to, I could not communicate my ideas to my people. Training helped me become a better manager, and my people got to hear the ideas from someone besides me.
Brian Phillips
1. I would have developed systems much, much sooner. Without systems I was constantly stressing. Nobody did anything the way I wanted (of course I hadn't told them, largely because I wasn't even sure). Developing systems forced me to identify the results I wanted and the steps to take to get them.
2. Learn to sell at the right price. I went from 12 to 14 people in the field to 6 in the field and did the same amount of work. This also helped my stress level. But the best part was I started making money.
3. Invest in training for myself and others. No matter how many books I read, or tapes I listened to, I could not communicate my ideas to my people. Training helped me become a better manager, and my people got to hear the ideas from someone besides me.
Brian Phillips
I alway sunk money into marketing and advertising ...although not always the best forms of both. I wish I could look back and know what jobs to walk away from. I have always had a problem with taking all of the work that has come my way. I think that it is more important to know what jobs not to take than what jobs to go after aggressivley.
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14,407 Posts
Screw you guys...I'm going home!
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4,698 Posts
:lol::lol:
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2,385 Posts
Reminds me of a recent topic at work. Can you believe Tim doesn't know who he is? His girly won't let him watch it. :whistling2:
She's making him go on a diet, screens his t.v. viewing and I heard she censors everything he writes here too! ......Talk about whipped!
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4,698 Posts
It"s not that bad NEPS. I will admit that I am somewhat whipped and on the flip side, whip her ass also.
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14,407 Posts
Ok NEPS
Lets revisit this one. I have had more time to think about it and the mistake I would not make again is to become complacent when we are busy. When we are busy we think it will never end.
The big mistake that I have made in the past, and that alot of people make, is to not do much marketing when they are busy. We are marketing more than ever now.
Lets revisit this one. I have had more time to think about it and the mistake I would not make again is to become complacent when we are busy. When we are busy we think it will never end.
The big mistake that I have made in the past, and that alot of people make, is to not do much marketing when they are busy. We are marketing more than ever now.
I am booked solid right through the new year and just signed my largest contract to date last week. I am right now sitting at my "mailer table" labeling mailers for the mail on Monday watching the Godfather on AMC. 1000 per week is my goal until the new year. I just joined a local chapter of BNI last week and have already recieved a couple of leads. Never get complacent.
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