I started a business and now I'm doubting it

[Kak]

I am not stable in my business. I have no idea what winter time will be like. My work is week by week at the moment. I have 2 months experience in business and I am being told to take loan. I know that I would buy some very stupid things with that money as I don't have the know how yet.

Then quit.

You have been given advice by intelligent business folks here. You have shit on all of it. Quite frankly @Scot should bill you for his time.

 

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[Scot]

I am not stable in my business. I have no idea what winter time will be like. My work is week by week at the moment. I have 2 months experience in business and I am being told to take loan. I know that I would buy some very stupid things with that money as I don't have the know how yet.

I think that goes back to your feelings about your business.

If this was me in your shoes and someone told me to take a loan, it would be “a loan can grow this thing faster and bigger? Where do I sign?!” I have a deep passion for my business.

In the OP you said you just started a pressure washing business because why not.

So I think there’s a mindset disparity here. You aren’t truly invested in the concept of this business. That’s something you have to answer and discover for yourself first.

Because we can sit here and give you solid business advice on how to grow it, but if you don’t feel like this is your baby, then it will fall on deaf ears.

 

[momomaurice]

I think that goes back to your feelings about your business.

If this was me in your shoes and someone told me to take a loan, it would be “a loan can grow this thing faster and bigger? Where do I sign?!” I have a deep passion for my business.

In the OP you said you just started a pressure washing business because why not.

So I think there’s a mindset disparity here. You aren’t truly invested in the concept of this business. That’s something you have to answer and discover for yourself first.

Because we can sit here and give you solid business advice on how to grow it, but if you don’t feel like this is your baby, then it will fall on deaf ears.

I think you've hit the nail on the head there. Thanks for the help

 

[momomaurice]

Then quit.

You have been given advice by intelligent business folks here. You have sh*t on all of it. Quite frankly @Scot should bill you for his time.

I disagreed with one point about taking a loan out. Maybe it's the fear in me of not knowing what winter will be like. Maybe it's from listening to Joshua Latimer saying you shouldn't take a loan but pay things with cash as you go. Saying I shat on all the advice given is absolute bollox.

 

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[Deleted50669]

I have a problem with people that act like or think they know what they're talking about while dishing out shitty or incomplete advice like "start a product based business".

So, you'd rather be overly prescriptive and tell someone exactly what to do? Didn't realize this forum was for step-by-step instructions. suck a fat one

 

[biophase]

Dude it’s been 2 months and you don’t like the work. What do you charge a little more so it becomes worth your time. How is all the money you are making going back into the business. What are you spending it on? We all have to grind at the beginning. Is what you do better than getting a job? You don’t sound like you work everyday.

 

[momomaurice]

Dude it’s been 2 months and you don’t like the work. What do you charge a little more so it becomes worth your time. How is all the money you are making going back into the business. What are you spending it on? We all have to grind at the beginning. Is what you do better than getting a job? You don’t sound like you work everyday.

I would like to know how you think that I don't work everyday? My money goes back into buying equipment for my business, ads, flyers, courses, petrol, tax, company fees etc. As I said I think some people think I am making millions, currently I am making 2 or 3 times more in a week than I made in my last job. This business is better than a normal job. I have taken Andy Black's advice on reading Built to Sell and ever since I started doing more pressure washing jobs and less window cleaning jobs I have became more miserable. I think its time to focus on window cleaning and forget about power washing. Thank you Andy Black for your advice.

 

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[momomaurice]

So, you'd rather be overly prescriptive and tell someone exactly what to do? Didn't realize this forum was for step-by-step instructions. suck a fat one

Kak comes across as one of those grumpy old men sitting on his porch with a shotgun waiting for a kid to hit a ball into his garden so he can shout at him

 

[biophase]

I would like to know how you think that I don't work everyday? My money goes back into buying equipment for my business, ads, flyers, courses, petrol, tax, company fees etc. As I said I think some people think I am making millions, currently I am making 2 or 3 times more in a week than I made in my last job. This business is better than a normal job. I have taken Andy Black's advice on reading Built to Sell and ever since I started doing more pressure washing jobs and less window cleaning jobs I have became more miserable. I think its time to focus on window cleaning and forget about power washing. Thank you Andy Black for your advice.

I meant that you said that you don’t have steady work, which I interpret to not power washing every day.

Where does your profit go? Equipment, gas, fees are part of you cost providing the service.

Do you own your equipment now or just rent it or bought on payments?

Where does your gross profit go? Marketing?

 

[momomaurice]

I meant that you said that you don’t have steady work, which I interpret to not power washing every day.

Where does your profit go? Equipment, gas, fees are part of you cost providing the service.

Do you own your equipment now or just rent it or bought on payments?

Where does your gross profit go? Marketing?

I dont do the technical work everyday. Mon to Sat is what I work. Sunday is handing out flyers and making ads and looking over what I have to do and what I have done for the week.
I own my equipment. Bought a new commercial power washer for 1500. Bought a van as I outgrew what I had in a matter of a few weeks. That's 5g already. I had to pay more insurance on my van.
I spend about 20% of my profits on marketing.
I have recently bought a waterfed pole for 550, Andy Blacks adwords course for 400 and Joshua Latimers super course for 997. I am making between 1000 to 1500 a week at the moment. This is high season though.

 

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[AllenCrawley]

Kak comes across as one of those grumpy old men sitting on his porch with a shotgun waiting for a kid to hit a ball into his garden so he can shout at him

Nailed it. He is the youngest grumpy old man I know.

He is deliberately brash and sometimes offensive.

BUT.

Don't discount his words because he may ruffle your feathers.

 

[PersistentlyHungry]

I'm surprised no one had mentioned the E-Myth. The book will point you in the right direction as it fits your story very well.

Sent from my BND-L21 using Tapatalk

 

[jon.a]

Nailed it. He is the youngest grumpy old man I know.

He is deliberately brash and sometimes offensive.

BUT.

Don't discount his words because he may ruffle your feathers.

@Kak is one of the handful of members that I read every post. Maybe 2 handfuls.

 

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[Kak]

Kak comes across as one of those grumpy old men sitting on his porch with a shotgun waiting for a kid to hit a ball into his garden so he can shout at him

Sometimes the truth is blunt. I'm here to help, not for myself. I take no pleasure in your disatisifaction with your business.

 

[KLaw]

When you do an estimate, estimate by the hour. Say a job takes 3 hours. At $75 / hr that's $225. 30% goes to labor (your subcontractor). That's $22 / hr. You should be able to get a decent sub for that and not need a loan.

 

[biophase]

I dont do the technical work everyday. Mon to Sat is what I work. Sunday is handing out flyers and making ads and looking over what I have to do and what I have done for the week.
I own my equipment. Bought a new commercial power washer for 1500. Bought a van as I outgrew what I had in a matter of a few weeks. That's 5g already. I had to pay more insurance on my van.
I spend about 20% of my profits on marketing.
I have recently bought a waterfed pole for 550, Andy Blacks adwords course for 400 and Joshua Latimers super course for 997. I am making between 1000 to 1500 a week at the moment. This is high season though.

So you are making $150-$200 a job? I’m assuming 1 job a day. How long does a job take?

It’s high season so be happy you have all that work because you’ll waking up wishing you had a gig to go to during low season.

 

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[MJ DeMarco]

From a Fastlane perspective, your business is a human resource system.

And with Ireland's rainy weather, I'm guessing it would be filled with repeat business.

If you aren't willing to HIRE and automate the processes, you've built yourself a job. If the margins can't accommodate staff, it will be no better than a job and a time-trade.

Question...

What do you customers say about your work?

Do they repeat as customers?

If they repeat and you have something unique about your service, this is where you will find revenue growth to potentially offset labor costs.

 

[Kak]

I'm surprised no one had mentioned the E-Myth. The book will point you in the right direction as it fits your story very well.

Sent from my BND-L21 using Tapatalk

This is very good advice. I totally forgot about emyth. Good post.

 

[momomaurice]

QUOTE="PersistentlyHungry, post: 692722, member: 46910"]I'm surprised no one had mentioned the E-Myth. The book will point you in the right direction as it fits your story very well.

When you do an estimate, estimate by the hour. Say a job takes 3 hours. At $75 / hr that's $225. 30% goes to labor (your subcontractor). That's $22 / hr. You should be able to get a decent sub for that and not need a loan.

You must make some great money in the US

So you are making $150-$200 a job? I’m assuming 1 job a day. How long does a job take?

It’s high season so be happy you have all that work because you’ll waking up wishing you had a gig to go to during low season.

Right now I'll say a full job I do on a home would take me 8 to 10 hours by myself. That is me going constantly at it. I don't have the best gear right now and it slows me down a lot plus I have to graft a bit harder. I'm happy for the work and the money right now don't get me wrong. I had a good think today about things and I realised if I keep grafting at it and get enough money to buy better equipment then I would be much happier. So that's what I am going to do. Next year I will start hiring people before it gets busy.

 

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[Dolf112]

I posted a thread about a week ago now asking for some direction as i felt like the op.
I was very kindly given great advice by people in that thread and they gave me a more focused view.
I have sympathy for the op because he has made the same mistake I did by looking at the revenue compared to wages and jumping straight in.

That's enough about I and lets concentrate a little more on you @momomaurice
You are working flat out on something that your heart isn't in, that just leads to burning out.
What if I were to tell you however that whatever "job" you choose, you'll never like it! Because like myself, the reason you are hear is because you want your freedom.
The vehicle, power washing or other is irrelevant, you need to find the fun in the building aspect.

If you are making three times what you could afford to live on previously then you have enough money to be able to afford yourself some valuable time to reconnect with your goals.
You have done the hard part which is taking action and now you have to allow yourself some time to drill into the figures and start to work out things like cost per job as @biophase mentioned.

Take a step back and look at the bigger picture again!

 

[momomaurice]

From a Fastlane perspective, your business is a human resource system.

And with Ireland's rainy weather, I'm guessing it would be filled with repeat business.

If you aren't willing to HIRE and automate the processes, you've built yourself a job. If the margins can't accommodate staff, it will be no better than a job and a time-trade.

Question...

What do you customers say about your work?

Do they repeat as customers?

If they repeat and you have something unique about your service, this is where you will find revenue growth to potentially offset labor costs.

Oh I do plan on hiring people. My plan is to have a fully automated business that runs without me. These things take time. I am still learning the whole process myself at the moment. I just had a bad week I think. I ain't quitting. I am gonna work hard for the rest of the summer and prepare myself for next year and start the hiring process then. Yes my work gets good reviews and I get phone calls from people recommending me. I would actually say that the rainy weather hinders outdoor work here. I'd often get people wanting to cancel jobs because the weather is so bad. The only repeat customers I have had so far was for window cleaning. Everything else I offer is annually or every 6 months.

 

[momomaurice]

Sometimes the truth is blunt. I'm here to help, not for myself. I take no pleasure in your disatisifaction with your business.

I know I was just joking. Thanks for the harsh truths

 

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[Kak]

I know I was just joking. Thanks for the harsh truths

You're more than welcome. I didn't think I was that harsh....

Maybe just to pussy @404profound

 

[Real Deal Denver]

So much great advice here, it's astounding!

I think these golden nuggets will steer you in the right direction;

I had a good think today about things and I realised if I keep grafting at it and get enough money to buy better equipment then I would be much happier. So that's what I am going to do.

Do it. Then you will have two sets of equipment, and you can take that small leap and hire someone. You'll be happier with the new equipment, and you'll be on the way to starting an actual business - not just a job trading hours for dollars. Don't wait until next year.

You have done the hard part which is taking action and now you have to allow yourself some time to drill into the figures and start to work out things like cost per job as @biophase mentioned.

Take a step back and look at the bigger picture again!

YES, you have done the hard part already!

You can now clone yourself and take a step back to analyze things, as I explained above.

You are already there, really. You built the vehicle to become your business and now you just have to implement it. You know the procedures and you know how to get the business. That's 3/4 of the process already done! It's launch time. A $10,000 loan will cost you something around $850 a month. That's $213 a week, and you can duplicate your efforts by hiring someone else. Small potatoes to get a business up and running.

Things are much better than you think they are. "Step back and look at the bigger picture again!"

 

[Scot]

You're more than welcome. I didn't think I was that harsh....

Maybe just to pussy @404profound

 

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[momomaurice]

This has been a good thread. I am definitely going to spend more time on here.

So much great advice here, it's astounding!

I think these golden nuggets will steer you in the right direction;



Do it. Then you will have two sets of equipment, and you can take that small leap and hire someone. You'll be happier with the new equipment, and you'll be on the way to starting an actual business - not just a job trading hours for dollars. Don't wait until next year.



YES, you have done the hard part already!

You can now clone yourself and take a step back to analyze things, as I explained above.

You are already there, really. You built the vehicle to become your business and now you just have to implement it. You know the procedures and you know how to get the business. That's 3/4 of the process already done! It's launch time. A $10,000 loan will cost you something around $850 a month. That's $213 a week, and you can duplicate your efforts by hiring someone else. Small potatoes to get a business up and running.

Things are much better than you think they are. "Step back and look at the bigger picture again!"

This has been a little gold mine alright

 

[Real Deal Denver]

View attachment 19319

You post this as I take a drink of rum and coke?

Now I have to wipe off my computer screen.

Hilarious! Caught me off guard and I laughed out loud!

A waste of perfectly good rum.

 

[Argue]

This thread is very insightful and very hilarious. Thank you to all contributors.

 

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[The-J]

Kak comes across as one of those grumpy old men sitting on his porch with a shotgun waiting for a kid to hit a ball into his garden so he can shout at him

@Kak doesn't see this as an insult lmao he's actually like that

Also... you make (on a high day in high season) $1500/week. $72k/yr is a job, man. A decent paying one, but still a job. How can you get more billable work? Figure that out.

You say you work Mon-Sat. How many hours of billable work do you do per month? If that number is low, and your time is filled with 'biz stuff', then you need to hire out the cheapest of that 'biz stuff' to work more billable hours. Then, once you've filled your time with billable hours + high-return 'biz stuff' (strategy, marketing, partnerships, etc), hire someone to take that billable hour load off of you. Use debt to do it if you have to.

Seasonality isn't that big of a problem if your margins are big enough. Low season is perfect for high value 'biz stuff' to help you prepare for high season. Go into next high season having taken over so much of the market share in your local area. The following high season, you should be in multiple local areas.

Building this business is going to take years, and for the next few months you're gonna be grinding it out. It'll never be 'fully automated' like your vision but it'll certainly get to the point where you can put in 10 hours a week of 'high value' work that pays dividends in later years.

And maybe you stumble along the way. Maybe you burn out. Maybe your competition is just so much better than you that they beat you on service quality alone. Maybe there isn't enough work for you out there. Maybe your margins can't support growth. Whatever happens, you've done more than most of the people reading this thread right now + you'll leave with the satisfaction that you really did do your best to make it work.

 

[Raoul Duke]

https://kopywritingkourse.com/powerwashing-flyers-copywriting-case-study/