Tired of working 60 hours plus a week?
April 3, 2012 by Mike Draper
If you are like so many contractors, then you are working 60 hours plus a week and feel tired every night. Maybe even a bit sore too. In this industry, it is all too common. You know that if you sold more, you would have enough money to pay someone else to do all of your work. The problem is, there is no time to sell more.
This is what keeps the cycle the same year after year.
To break the cycle and grow your business to the next level, you have to step back from doing the work and start focusing on running the business. After all, you’re not just a contractor, you are a business owner. Owning a business means running it like a business.
The best way to make the change is to do up a detailed financial plan for the next 12 months. Look at all of your possible expenses and all of your potential sales to calculate how much money you will have. Now, add in the cost of the hiring a Site Supervisor. Did this just eat up a whole bunch of profit and leave you with no money? If it didn’t then great, go hire a site supervisor as fast as you can. But, more realistically the numbers probably didn’t look good. At this point you need to calculate how much more you would need to sell to support a new hire. Once you know how much more you need to sell, you need to figure out where this will come from.
One of the easiest ways to sell more is to do a better job of converting the leads you do have, into clients. You need to be following up with prospects over and over until they have made their buying decision. Generating new leads is tough, so instead of putting all of your effort into generating more leads, spend more time closing the leads you already have.
Knowing how much more you need to sell to support a Site Supervisor and doing a better job of converting leads into clients, you can now make a business decision that might cost you money in the short term. You know how much you need to sell to support a site supervisor, so now you can figure out how long it will take you to sell the extra amount. This delta in time is your risk period. You need to decide for yourself if you are willing to accept the risk for the time it will take you to increase sales. With the Site Supervisor on staff, you will have the extra time needed to do the selling and you will end the day not sore.