• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 40,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

FORUM SEARCH

Get answers about starting a business from real entrepreneurs. Powered by Google.

INTRO Electrician to Fastlaner

Discussion in 'Forum Introductions (Who are you!?)' started by K Larey, Nov 12, 2017.

Tags:
  1. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    Good afternoon everyone,

    I'm Kris, 34 years old, and have been an electrician for 14 years. I've grown very tired of working for other people and am ready to venture out on my own again.

    I've had 2 failed business in the past. The first was automotive reconditioning. I would perform cosmetic repairs to used cars for dealers. I took other people's advice on the market and failed to do my own research. The market in the area was much cheaper than expected and I couldn't turn enough profit. The second was an internet company that sold gift baskets (my wife made the gift baskets and I TRIED to sell them). This one failed for several reasons. Our entry to the market was right before the recession, I really wasn't that into selling gift baskets, and I failed to differentiate from other companies.

    I'm struggling a bit at the moment with my next business. As an electrician, the next logical choice would be to open my own shop as an electrical contractor. I feel that this is a lot like a job where I'm trading time for money and lack the ability to scale.

    I've read Unscripted and the book really resonated with me. Not only for business but for all the falsities the script is constantly shoving down our throats. Needless to say, the book has lit a fire under my ass and I'm ready to get Unscripted. Thanks MJ.
     
    dior616, Ungodly, Striver and 7 others like this.
  2. Andy Black
    Online

    Andy Black Any colour, as long as it's red. Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

    Messages:
    6,028
    Likes Received:
    25,362
    Joined:
    May 20, 2014
    Gender:
    Male
    Location:
    Ireland
    Rep Bank:
    $144,973
    Welcome.

    You might find the two radio interviews in my signature interesting.
     
  3. Greg R
    Offline

    Greg R Act, Assess, Adjust Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    787
    Likes Received:
    2,767
    Joined:
    Oct 28, 2015
    Gender:
    Male
    Location:
    World Citizen
    Rep Bank:
    $12,911
    Great intro. Wise choice to not open up your own shop for the reasons that you laid out. I think in your case, your energy would be best spent trying to solve a problem in the electrical industry or solving a problem in a different industry altogether. Maybe product based rather than service based like some really kickass wire strippers or something. You get the idea.
     
    Ungodly, Striver, LeoistheSun and 2 others like this.
  4. EasternCrane
    Offline

    EasternCrane Sit in the gap not the choice Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    214
    Likes Received:
    240
    Joined:
    Sep 10, 2017
    Gender:
    Male
    Location:
    United States
    Rep Bank:
    $1,581
    See Rohan Gilkes information on Reddit for how to start a service business.

    He has made software possible that allows you to scale readily. You need contractors though.

    You also have to read Andy Black's post on how to setup AdWords campaigns. Go through the information. Take his free trial. It's enough to start.

    Check out WordPress BFF for a 5 day course on building a WordPress platform

    Use Beaver builder for everything else on WordPress.

    Consider Launch 27 software. It integrates nicely. Consider hotjar and groove jar.

    Last, you won't be able to sell the business unless you learn information from "The automatic customer".

    Create aervice for power outages at $10 a month. Guarantee 15 minute arrival unless it's a city infrastructure problem.

    500 subs = $5k

    Same goes for flickering lights. You know that's a panel issue usually so plan on another 1k to 2k in work.

    $500 subs = $5k

    Create a discount package at 30% off for a complete sub each month to do everything electrical including changing light bulbs. Install LED lights and you won't see them for 5 years Loolololololol.

    $30 x 5 subs x 500 = $15k/mo

    Retire.

    Then it's fastlane.

    Edit: if you're lazy, I have a vetted contact who will build you a super customized WordPress site for $7.5k.

    Lower customization comes out at 4.7k for a site with L27.
     
    Striver, Ika, MJ DeMarco and 5 others like this.
  5. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    I'll take a listen tomorrow morning. Thanks for the reply.
     
    LeoistheSun and Andy Black like this.
  6. MattR82
    Offline

    MattR82 Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    361
    Likes Received:
    574
    Joined:
    Oct 4, 2015
    Gender:
    Male
    Location:
    Perth
    Rep Bank:
    $2,060
    My dad is a sparkie and his body is totally screwed now. He also couldn't handle the stress of scaling and growing a contracting company with employees under him.

    Good luck to you man, lots of opportunities out there people seem to be putting forward :)
     
    Andy Black likes this.
  7. BrooklynHustle
    Offline

    BrooklynHustle Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    597
    Likes Received:
    1,093
    Joined:
    Apr 3, 2014
    Gender:
    Male
    Location:
    DMV
    Rep Bank:
    $6,783
    Rohan is a rock star, and very generous with his knowledge
     
  8. LeoistheSun
    Offline

    LeoistheSun Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    343
    Likes Received:
    483
    Joined:
    Oct 3, 2017
    Gender:
    Male
    Location:
    Southern Cali
    Rep Bank:
    $2,262
    Brilliant.

    @K Larey are you familiar with the frustrations/pains in your market? Do you have alot of Electrician friends?
     
  9. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    Thanks for the reply. I'm looking into building some online courses for my fellow electricians. I've also got some ideas for SAAS products but currently lack the technical knowledge.
     
    LeoistheSun likes this.
  10. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    I'm experiencing what you're dad went thru with his body. Most days work hurts. I used to regularly run multi-million dollar projects with 25+ men so employees aren't really the issue. It's a rough business to be in. I'm looking more into selling the shovels than digging for gold, if you catch my drift.
     
  11. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    The market I work in is limited mostly to large commercial and industrial projects with established contractors capable of bonding $50m/yr +. They pretty much have it sorted out. The residential market is a different story though. It's a little more wild west there. I think that would be my focus.
    I do have a lot of electrician friends. Unfortunately they, like myself, are part of a labor union that really frowns upon starting your own business or leaving the union. They levy fines against you and get blacklisted. It's a very risky endeavor for them if it doesn't work out. I don't think they would come with.
     
    LeoistheSun likes this.
  12. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    Wow, thanks for taking the time to write all of that. I'm going to start looking into that right now. The fastlane community has proven to be very helpful.
     
    MattR82, LeoistheSun and jon.a like this.
  13. LeoistheSun
    Offline

    LeoistheSun Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

    Messages:
    343
    Likes Received:
    483
    Joined:
    Oct 3, 2017
    Gender:
    Male
    Location:
    Southern Cali
    Rep Bank:
    $2,262
    How about starting small then. Maybe start a marketing blog for electricians... to get more work. Hell, maybe you can teach others how to be like those commercial or industrial contractors? People who are successful are better to interview... should you decide to go down the route listed here:

    GOLD - No network? No money? No idea? No education? NO PROBLEM!

    by @IceCreamKid
     
  14. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    Great idea. That would both help myself and other electricians. I've also thought about starting a small shop with the sole purpose of walking other contractors thru the journey of starting a business, gaining clients, making sales, experimenting with what works and what doesn't, etc..
     
    MattR82 and LeoistheSun like this.
  15. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131
    I listened to your radio interviews this morning while I was tiling my bathroom. I found them very easy to follow. A real common sense approach. A good use of ad-words to determine if there is a market for your product. I also like "grow what you know". Very helpful. Thanks for the advice.
     
    Striver, Andy Black and LeoistheSun like this.
  16. MJ DeMarco
    Offline

    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    25,319
    Likes Received:
    73,045
    Joined:
    Jul 23, 2007
    Gender:
    Male
    Location:
    Phoenix, AZ
    Rep Bank:
    $292,670
    Admin Post
    Just wanted to pop-in and say great introduction, appreciate you took time to do that.

    Welcome aboard.
     
    K Larey, Greg R and LeoistheSun like this.
  17. million$$$smile
    Online

    million$$$smile Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    422
    Likes Received:
    2,287
    Joined:
    Dec 25, 2012
    Location:
    Missouri
    Rep Bank:
    $15,781
    I too belong to a union but took retirement due to the fact that my business now far exceeds what I could earn working.

    BUT, I wouldn't have this business if it weren't for all the time I spent in the trade.

    Sometimes it is the opportunity in the job, not the job itself.

    There are plenty of opportunities to make improvements OR sell products in your field without resorting to competing in a service/contracting business which justifiably would piss them off. I doubt they would frown on you if it isn't in a competitive industry. They need/use products daily, anywhere from union printing to apparel etc. That doesn't even include tools, software programs, apps, etc which can be an asset to all union members.

    American made is huge with them. Made by a Union Member is THE STORY.

    They can become your biggest customer.

    Just open your mind to opportunities in the industry other than working with your hands.

    Good luck!
     
    MJ DeMarco, Kingmaker, jon.a and 2 others like this.
  18. K Larey
    Offline

    K Larey Contributor

    Messages:
    9
    Likes Received:
    26
    Joined:
    Nov 1, 2017
    Gender:
    Male
    Location:
    California
    Rep Bank:
    $131

    Yes, exactly what you said. I really don't want to start contracting and compete against the people who have provided me a lot of opportunity. Plus, there are much easier ways to make a living. You've really got my wheels spinning. Must tame the squirrel brain.