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Discussion in 'Starting a Lawn Care Business' started by rgodwin, Oct 10, 2016.
Money doesn't buy happiness, but it does allow you to rent it.
I couldn't do a high stress job like a doctor. No wonder why 1 in 5 doctors has a alcohol problem. Lawncare 95% of the time is a pretty low stress gig for me since I make enough to get by on my own since I'm a single guy. The 5% of the time I'm stressed is when we mess up or something goes bad. Definitely couldn't handle a stressful job like a Lawyer or Doctor. Thank the Lord Lawn Care and Snow removal is easy
I bet 3 in 5 small business owners have an addiction issue. Not having to submit to testing or answer to a supervisor makes it too easy to let things get out of hand. Probably a high percentage of the reason for business failure.
I can believe it, many are workaholics !
"For everything else, there's Mastercard"
Instead of just focusing on what each person "nets" from their business it would be more interesting to see what their individiual pre tax take home pay is in relation to their business revenues.
$150,000 pre tax salary and $2.5 million in business revenues.
$30,000 pre tax salary and $60,000 in business revenues.
$60,000 pre tax salary and $300,000 in business revenues
Then that broken down into percentage of services offered (maintenance, design build, irrigation, etc.. Employees, hats you wear, equipment you need, etc..
I know people don't like showing numbers and neither do I but knowing stuff like above is more helpful, to me at least, than just knowing what someone makes.
It's like saying you know 2 doctors and one makes $650,000 and the other makes $175,000 and give no other details. When you add that one is an anesthesiologist and the other is a general practitioner now it explains the difference in pay or what is needed to reach each level. Plus the anesthesiologist has a much higher insurance premium due to the job having more risks associated with it. So now that $650,000 salary turns into a $500,000 salary. It's all about what is needed.
I agree it may be a percentage of failure,but probably very small. Most addictive personalities cannot control them selves enough to get the liquid needed to start a business.
From what I have seen, the biggest reason for failure is usually one of 3 items.
1. Too big too fast. If all you cut are 5 1500Sq lots in the city, a new F450, 2 ZTR's and 16' trailer probably are not needed. Don't buy them. Flipside, Scheduling 250 cuts a month solo with a 32" and avg.lot size of 15,000.
2. "Gotta have it" syndrome. Everyone wants Bling. But chrome don't get you home. That wiz bang new app, or advertisingmedia or huge graphics or new mower that does not increase anything but your debt ratio, is not needed. Unless a large purchase is going to pay for itself in one season or less, do you really need it?
3.Denial. When things go pearshaped, knowing when to cut and run are key. If you cannot work through it before business reserves reach zero, when you do, LEAVE, restructure, reassess. The instant you pull your money out of your own bank account to pay payroll, it's past time for a change.
I was told FIRST DAY in my college Small business management class was thus:
If you cannot run your new business with ZERO receivables for 6 MONTHS, Don't even start it.
Can you expand on this statement?
The statement Zombia cutter said. Can it be expanded? I really don't see it being expanded....that is the statement. Well said.