Work for yourself, not the bank

Posted by Chad Franke on April 04, 2007 at 09:59:11 from (65.112.203.194):

In Reply to: STARTING MY OWN BUSINESS, ANY SUGGESTIONS posted by ironsales on April 04, 2007 at 06:49:35:

My number one comment would be, if you can't afford to buy it, don't. If you finance the business, you don't own it, the bank does. You work for them if you owe them money. Get to know a rental place, work a deal, and be loyal. Buy when you can afford it after you figure out what equipment will make you money. Keep records of all jobs, KNOW what makes you money and what doesn't. Fancy pickups don't do anything but cost money, a cheap, dependable old one ton will out earn a brand new XXXX diesel one ton, same with equipment.

Do good work, admit and fix mistakes. Pay and treat your employees well. Give your customers value, dirt work is dirt work, but if you do it with a smile, quickly, honestly, and for a fair price, they will value the experience, as well as the finished product. Keep everything in writing, don't do verbal quotes, if the job changes, do a contract addition.

In all jobs, think what you would want as a customer, and exceed that. Don't short pay yourself, if the person won't pay what the job is worth, neither one of you will be happy.

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