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Growing Your Biz

Discussion in 'Business Fundamentals' started by getsum, Sep 6, 2011.

  1. getsum

    getsum Senior Member
    from USA
    Messages: 220

    Ok i am currently bidding a lot of commercial contracts lately and won a good one but am worried id get in over my head if i get all of them.. I want to grow my company this year but with my truck and my fathers rig i would probably need more trucks, employ staff( shovelers) etc etc.. im freaked out by growing and paying Workman's comp, insurances etc etc especially when this summer has been a struggle to say the least... How did some of you guys grow? just bid it and figure it out after :laughing: or hire subs with there own insurance to avoid the employment hassle. i have been plowing for 7yrs now and am now exactly new.. young yes but not new. Any advice would be greatly appreciated.
     
  2. NickT

    NickT Senior Member
    Messages: 707

    Subbing is a good idea as long as you get good dependable people and you pay them at reasonable rate
     
  3. Longae29

    Longae29 PlowSite.com Addict
    Messages: 1,954

    .NEVER cut ANY corners, NEVER make a promise you can't keep, ALWAYS keep your subs happy, ALWAYS maintain good credit and relationships with local dealers so when you need to make a last minute purchase you can do it, when you do this you put yourself in position to make the sales and worry about handling it later.
     
  4. Mick76

    Mick76 2000 Club Member
    from Maine
    Messages: 2,157

    Ah yes , growing pains.... get use to it if you want to be a professional... paying workers comp (its just another insurance bill) and payroll taxes are part of the course. Don't grow too fast or it may get away from you and your reputation will be ruined. Don't freak out yet, wait until you find out what you get. As long as you didn't low ball you'll be able to either buy equipment or lease and or sub... its a good problem to have
     
  5. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Don't over extend yourself in one year. Add some each year and grow the same way. Worst thing that can happen is growing to fast and buying equipment then lose contract. Then you start to lowball just to get money to pay stuff off.
     
  6. getsum

    getsum Senior Member
    from USA
    Messages: 220

    Thanks guys, i appreciate it, I pride my self on having the best looking lots around and NEVER cut corners, i bend over backwards sometimes for some, but i also try and be as efficient as possible, and have never damaged anything in 7yrs. i love what i do and i am getting work because of my good work and attention to detail. I have friends in the biz that are willing to help if needed and have a good relationship with my bank. I will just see what i get. there all contracted accounts, which is a first for me. I only have per push accounts at the moment.
     
  7. IreneS

    IreneS Junior Member
    from US
    Messages: 5

    Businesses grow at different rates, based on their industries, the target markets they serve and ultimately because of business owners' goals for their businesses. Growing your business involves strategic planning, keeping your eyes open to trends and taking note of what your competition is doing and not doing.
     
  8. Wayne Volz

    Wayne Volz Senior Member
    Messages: 694

    Set Your Goals FIRST.

    Set your goals first. Knowing what you want to achieve makes it much easier to develop the plan. If you set your goals first, you have already planned for the equipment, material, subs, infrastructure changes etc. that you will need as you achieve your goals.

    Selling without goals is like going down hill without brakes. Hope that helps.
     
  9. getsum

    getsum Senior Member
    from USA
    Messages: 220

    helps quite a bit and thanks! Thumbs Up