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Speeding in the slowlane... time to hit turbo

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Carny

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I'm working on hitting the fastlane but I'm not there yet. I'd like to amp up my slowlane business as well and turn it into something that I could eventually sell.

I own a plumbing company which consists solely of me right now. I do everything. It's hard nasty work. I work long hours and then come home and still have to do paperwork, figures estimates, etc, etc. I don't make that much and the "freedom" of owning your own business doesn't apply when you're self employed. I have a job with no benefits. If I'm not working I'm not getting paid. I want to change that.

I don't know if owning a plumbing company could ever be fastlane unless I franchise or something, but I'd like to make the most of it and there can be pretty good money in it.

I'm about to change my pricing structure to a flat rate rather than time and material which will make me more profitable and I'm also about to start selling maintenance agreements to get a more consistent income. Once I get a system in place and have some cash reserves I plan to start hiring plumbers, then office staff as needed. My goal is to transition from plumber to business owner and then probably eventually sell out.

One thought I had though is that if I spent the time and energy that it would take to grow this on a fastlane business I may end up way ahead. On the other hand I do have something with this and hate to just give it up. As far as CENTS it meets or can meet every requirement. Scale will be the hardest. Adding plumbers will do it somewhat but franchising is the only true way I see to get scale.

As usual I have a list of questions:
  1. Do you have any suggestions/ideas that you'd like to see your plumber do?
  2. What should I focus on now to grow the business and make it worth something?
  3. Is it worth spending the time and energy on?
Please let me know your thoughts on this. Thanks!
 
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Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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