Business help

[05rammer]

One step closer!

 

[Rustyiron]

That will get er done! :thumbsup:

 

[shaeff]

05rammer- that's a sweet rig! Looks very maneuverable.

 

[aczlan]

Nice setup, just need to put your company name, logo and phone number/website nice and big on a double sided sign mounted between the toolboxes up on the neck of the trailer.

Aaron Z

 

[05rammer]

Hadn't thought about putting company name on the toolboxes, I like.

 

[kthompson]

I have been in sales for about 35 years. Am member of the Chamber of commerce in city on one side of me and town on the other. Chambers to me give very low return on investment. I would not suggest spending your money their first.

Think hard and carefully who your customers will be. GO SEE THEM. Do a small job for free and mean small job. Get simple phone number and business name that people can remember when they see it. If phone number spells business name or what you are doing (mulching) that is good. Get some of the push in the ground signs like used for yard sales and put on job site while working and when you leave. Have truck with sign on it parked where easy seen if safe while doing the work. Ask for referrals, consider taking person out to lunch for a job referral or such. Business cards, do not hand anyone a handful, they will toss them. Give them say a couple. You may find power company and cities to be good market as builder are for no torn up ground so stable but trees removed.

 

[KY Gun Geek]

Hey - how is the business going?

Couple of comments that may be too late -

1) Advertisement - Craig's List is pretty much the standard in my area. There are some others, but craig's list has the biggest reach. After that go where the customers go - bulletin boards at home stores, tractor supply, feed stores, etc. You might do well to partner with a nursery (they call you for mulch and they get a cut)...

2) Renting is fantastic for the flexibility, but I find that very quickly you can often pay for equipment if you own it if you have the business. Renting is like sticking your toe in the water - you can get an idea, but you don't get all the benefits of going all in. You don't get those benefits cuz u aren't taking the risk.

 

[mikester]

Three relationships every new businessman (or woman) needs: A Banker, A Lawyer and An Accountant. If you have a relationship with those three people, you can set up and run almost any business you want. The banker can help you finance your equipment or facilities; The lawyer can set your business up legally and help with any contracts you get; and, the accountant will be able to advise you about smart business decisions and keep your taxes and other financial records straight.

Every business needs CASH FLOW. If your sales exceeds your expenses then you may have a business. Remember that getting the sale is half the battle. The hard part is collecting cash on those sales in a timely manner.

Do your homework first - do your market research - get orders for your services BEFORE you start incurring expenses! If you manage to sell $20K in services before you commit to buying equipment then good on you, you may be lucky with your idea. If you can demonstrate you can pay back $200-300K in unsecured business loans within 1-2 years your banker will be happy to talk with you.

Starting with the high overhead costs of your Banker, Lawyer and Accountant are great ways to spend more money than you get in sales.

There is a reason why 95% of businesses fail within the first 5 years of operation.

 

[Industrial Toys]

So many successful businesses just grew out of nothing. Often not even in the line of business that the person was in. Or a hobby that just took off.

Too many people just think they will start a business and are soon out of business. OR a brick and mortar business where no one apparently ever did the simple math as to how many people have to come through the door each day and leave their money behind. And if they don't one day, you better hope that .that many more people will spend money the next, because the expenses never stop.

I knew one lady that quit a good government job and bought a health food store. It was doing OK but her accountant told her she was making something like ten cents an hour!

 

[4570Man]

A skid steer with a mulching head cost $1300 a day to rent. It probably cost 100k to buy the unit. I’ve never encountered a job where I felt like paying the $1300. That’s a lot of time paid for in my other equipment. I’ve been thinking of buying a maximum destruction rotary mower. I know it’s no fecon head, but its 10k not 40k. But then the deal of renting the Kubota svl 95-2 has nearly blow up so I probably won’t in the immediate future. I’m wanting to get into the excavation business. I currently own a backhoe. I’ll have enough money to buy my own skid steer next spring. Longer term outlook I want a dump trucks, heavy duty trailer and a big excavator. The dump truck and big trailer would gain me the ability to haul the skid steer and mini excavator at the same time. That’s 2 hours a day saved. The big excavator can probably do what the little excavator does in a day in an hour.

 

[Industrial Toys]

I mentioned it more than once. I knew a guy who made ponds for little old ladies. Didn't own a piece of equipment, never got his hands dirty and made a pile of money. Rented brand new stuff and hired operators and guys (I was a pump man) as he needed them.

 

[4570Man]

How much more money would have made if he was paying himself the rental payment over someone else? It’s probably 3 days rental to equal the monthly payments. And renting is a pain. You could only rent a backhoe for half a year for what I own mine for. Renting a 50 series mini is over $400 a day locally. Renting big iron you might use once is a good plan but renting your every day equipment isn’t. That’s like using Uber everyday vs owning your own vehicle. I just bought my own bucket truck because I need one about once a month and it’s 300 a day to rent and most of my once a month projects would be a strain to do in a day. My backhoe cost me about 2 dollars to sit for a day doing nothing if an unexpected rain storm blows in.

 

[Industrial Toys]

Don't get me wrong. I don't rent equipment. In fact I will buy absurd, seldom used equipment instead of renting it.

But this guy also didn't have huge repair bills or equipment down. He didn't have grease under his finger nails. Or blackened ones. lol

I know people who have way too much equipment for the amount of money they are making. It's like, a lot of the money they make just buys more equipment and really isn't making them rich.

I am self employed and never really succeeded beyond having my own job. To me success is not just about feeding yourself, providing the comforts of life, but having money and liquidity, which can buy you freedom. Like some people I know, having thirty pieces of equipment in the yard isn't freedom.

 

[4570Man]

I know people who have way too much equipment for the amount of money they are making. It's like, a lot of the money they make just buys more equipment and really isn't making them rich.

That guy would be me. Some people buy expensive cars or designer clothing. I buy tools and equipment.

 

[Industrial Toys]

Well me too. Sorry, I never finished my last post. I have to form it in bits and pieces or my computer crashes.

The good thing is that my tools and equipment (the stuff I love) were largely tax write offs. I don't own a watch or jewelry, and don't care to. I ask the car dealer, how much if you take off the chrome? I have had chrome wheels taken off a new vehicle. To me, that's just worthless, pretentious garbage.

Speaking of which. I watched some documentaries on Warren Buffet. Facinating!

 

[MulchingContractor]

I made a post in the skid steer forum but if you're looking for business help check out our ecourse over at skid academy.
We teach you tried and true methods I've used myself for the last 12 years in my own business. It's free to sign up so you have nothing to lose.

Skid Academy - Take Control of Your Skid-Steer Business.