Re: Business owners poll

Posted by NCWayne on June 08, 2015 at 20:46:39 from (173.188.169.54):

In Reply to: Business owners poll posted by Bryan iniowa on June 08, 2015 at 19:08:48:

At one time there was Dad and me, although neither of us was actually an employee. Now there's just me, but I'm at a point I could often use some help.

The best advertising will always be word of mouth. The worst, and only kind I've tried, was sending out brochures to companies that had construction equipment. That got me nothing but a bunch of calls asking how much for this or that, and one machine that's still setting here after 4 years.

One thing I have had to do was both a good thing, and also also possibly my worst mistake. That is selling myself short on my rates. When times got really bad I lowered my rates by nearly $30 per hour. Unfortunately this was a necessary evil as it allowed me to stay in business, and keep customers, who were also struggling, when many others went completely out of business. Now I've had to spend the last couple of years trying to get my rates back up to where they were pre-recession/depression, so I can actually start getting ahead again instead of just getting by.

The best thing I do is actually not to specialize. Or possibly it's that I specialize in not specializing. I'll work on anything from a lawnmower (small engine), to a crane, to a bull dozer, to an RV, and anything in between.

Basically I do so such a wide variety of things mechanical related from actual mechanic work, to hydraulics, to electrical, to machine work that,to welding and fab work. To my knowledge, I'm the only one around that can do many jobs turn key where others are having to sub out work. A recent attempt to sub out some machine work hit home to me as to why I do all that I do. I needed a part machined, and back ASAP, but the best turn around time I was able to get was something like 3 weeks, at a cost of $5000, or more if I needed it sooner. I wound up boring the ends of the cylinder, making and installing the repair sleeves in both ends, and repacking it, all in about 3 days, and at a cost of around $1600.

I also have industrial maintenance experience so electrical and plumbing are nothing new to me. Too I can do carpentry so that's another revenue stream if it's ever needed.

In the end the ability to specialize in not specializing, and basically being a jack of all trades has allowed me to always have something to do, even when times were tight.

Now if I can just get my book keeping squared away, and streamlined, I'll be good to go.........Thing is I hate paperwork, so I have plans to talk to an accountant before the summer is over, and get someone that loves the paperwork side of things to help me out.

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