Enlighten me ...part 2

[cucu]

with part 1 we found out nothing.except work smarter not harder...(whats wrong with hard work..)and big to very big houses only unless your name is Snow, where any home will do

But in part 2 i want to know what is the exit plan ...I think Ken will be ok ..But for the rest, whats your plan to get off the truck and stop pushing the wand and enjoy life
Without woundering where your income is coming from

do you think your going to build up your biz to sell it off and have a big payday.
give it to your kids and hope they dont put you in a home for the insane.
Do you have one of them 401k jobies and your sure its set you up for the rest of your days.

or are you going to have a hitman take out island boy and take his job at jon-don.

at what age do you want to be done or simi done and off enjoying life

 

[Mikey P]

Didn't they give you the cheat sheet at boot Kamp?

 

[Art Kelley]

Who says you can't enjoy life and continue working? Is the dream to have enough money so you can sit on the sofa all day? I will work until I can't and do things I like such as travel in the winter when work is slow, weekend at my beach condo in the summer, go mountain biking, spend time with family and friends. Work keeps me rich and healthy.

 

[Jim Martin]

we will never get out of this what we put into it...thats a given....

when I started this gig 9 years ago it was in the back of my mind I told myself that when the time came that I would just hand over the keys to the company to my kid and he could take it from there....as time passed I found out that he really wants nothing to do with it...

right now he is working 2 meaningless jobs...struggling to make ends meet...living pay check to pay check....I have done all the hard stuff...built a strong client base...paid everything off...work finds me...everything is set in place...I am not ready to exit this company..but I would love to hand him the keys to the truck and focus on other things that would help more when the time comes...but..he is just not interested...

its confusing at times because I am not going to hand him the golden egg...I want to give him the whole goose....but yet...I am happy he is honest with me...because if this is something that he really does not want to do then it would get no where....

I try to look past my nose and see where I want to be...right now I have been talking with a few people and getting some input on a few things that are going to help me make the next step to get to where I want to be.....by my own account I am standing at a wall...and I just have not been as aggressive as I should be to take the first step and climb over it...before I go on vacation I have a few more things to look into and a few more people to talk with...after vacation...I am going to get more aggressive on what I need to do to move thing more forward and push this company to when it comes time to exit....I am in a better spot.....I cant say what the exit plan will be...it is so far down the road and so many things could happen between now and then...I do know that I don't want to be in this for as many years as some have and not have any idea about what to do next...

 

[Greg Cole]

with part 1 we found out nothing.except work smarter not harder...(whats wrong with hard work..)and big to very big houses only unless your name is Snow, where any home will do

But in part 2 i want to know what is the exit plan ...I think Ken will be ok ..But for the rest, whats your plan to get off the truck and stop pushing the wand and enjoy life
Without woundering where your income is coming from

do you think your going to build up your biz to sell it off and have a big payday.
give it to your kids and hope they dont put you in a home for the insane.
Do you have one of them 401k jobies and your sure its set you up for the rest of your days.

or are you going to have a hitman take out island boy and take his job at jon-don.

at what age do you want to be done or simi done and off enjoying life

Age I plan to retire: 55 (turning 41 this year). However, my role as President has a self life of about 2-3 more years. I plan to more into more of a CEO role.
Retirement plan: Lots of beach front property

What am I going to do with my business? Service businesses my size are usually non saleable unless they are franchised. Even then, usually it requires an IPO or a private sale. We are currently working to launch our franchise. Likewise, shortly thereafter; I plan to distribute stock in the company to employees to make this partially employee owned.

Would I give my company to my son? NO , There is an old saying that the first generation makes the company, the second f's it up and the third sells it. I have no intention of making that mistake. Too many families rely on our company to support them. Would I allow him to work at the company and eventually earn or purchase partial ownership? Sure. BUT only after receiving his college degree. Kids should work for what they have NOT just have it handed to them. Likewise, many kids don't want to be handcuffed with their fathers job. That was the case with me. My dad was a VP with IBM. Soooowasnt what i wanted to do with my life....

 

[NobleCarpetCleaners]

The cheat sheet Mike's talkin bout is the first reality to come to terms with. However you build a profit and loss statement or spread sheet it's sobering. I raised my prices a bit again recently and I'm surely pushing the envelope with new clients right now. What's left for me is job rate, and the only way is getting labor and getting off the truck. It's more of a mental barrier for me, stressing about finding the right caliber of employee I would allow to go into homes and work like or close to my level. I've got a handle on the numbers but not my attitude.

 

[joe harper]

"BLIND LEADING THE BLIND"....... KMA!

I amazes me how most owners here get stuck in their own HYPOCRISY....

Almost all here left a 9 to 5 job to be independent and be their own boss.
Only the find themselves 10 years down the road...STUCK...because they
have no management skills to get to the next level..... yes, I really clean up pet shit for a living Dad..
Everyone wants to consider themselves an "entrepreneur"...BUT...in reality you are just
"self-employed" and your boss is a "deer in the headlights"... :!: I have made a good living
buying companies with business plans that FAIL.....because they kept the WAND in their
hands too long... -sniff

A good exit strategy take at least 5 years to implement... :!: You need to be able to TEST...
TEST...TEST... its viability & modify policy along the way... :idea: The key to moving into
a retirement position with your company...IS... predicated on your ability to HIRE YOUR SUCESSOR..!!!!!!!

ps.I could go on & on...HOWEVER...many here canNOT absorb the information in long posts.
So if you have specific questions..? Lets answer them one at a time... :idea:

pps..Excuse me if I sound like Ken Snow... ME>>ME>>ME>>>I>I>I>ME>>ME.... yes, I really clean up pet shit for a living Dad..

 

[Greg Cole]

"BLIND LEADING THE BLIND"....... KMA!

I amazes me how most owners here get stuck in their own HYPOCRISY....

Almost all here left a 9 to 5 job to be independent and be their own boss.
Only the find themselves 10 years down the road...STUCK...because they
have no management skills to get to the next level..... yes, I really clean up pet shit for a living Dad..
Everyone wants to consider themselves an "entrepreneur"...BUT...in reality you are just
"self-employed" and your boss is a "deer in the headlights"... :!: I have made a good living
buying companies with business plans that FAIL.....because they kept the WAND in their
hands too long... -sniff

A good exit strategy take at least 5 years to implement... :!: You need to be able to TEST...
TEST...TEST... its viability & modify policy along the way... :idea: The key to moving into
a retirement position with your company...IS... predicated on your ability to HIRE YOUR SUCESSOR..!!!!!!!

ps.I could go on & on...HOWEVER...many here canNOT absorb the information in long posts.
So if you have specific questions..? Lets answer them one at a time... :idea:

pps..Excuse me if I sound like Ken Snow... ME>>ME>>ME>>>I>I>I>ME>>ME.... yes, I really clean up pet shit for a living Dad..

Well said Harper!

 

[Ken Snow]

Can a Mod with more power than Joe or I move this to the Marketing and Business room?

 

[Brian R]

The only reason I sold my company for as much as I did is because the guy working it saw the value and wanted it.

I still sold it for less than what it's worth... Going by how much revenue is generated.


So in my experience...It's another service type person that will see the value AND keep the company going. I too have a great customer base that depends on us.

My daughter doesn't want anything to do with it obviously...So that was easy.


I could coast for awhile I suppose with the money made...But what I am doing is transitioning into another industry that is easier on the back and better on the pocket book.


The one thing I didn't see before was the "house of cards" that I built (thank you Harper) would sell into a business that is fully traditional in that "Harper" sense. Go figure.

 

[floorguy]

"BLIND LEADING THE BLIND"....... KMA!

I amazes me how most owners here get stuck in their own HYPOCRISY....

Almost all here left a 9 to 5 job to be independent and be their own boss.
Only the find themselves 10 years down the road...STUCK...because they
have no management skills to get to the next level..... yes, I really clean up pet shit for a living Dad..
Everyone wants to consider themselves an "entrepreneur"...BUT...in reality you are just
"self-employed" and your boss is a "deer in the headlights"... :!: I have made a good living
buying companies with business plans that FAIL.....because they kept the WAND in their
hands too long... -sniff

A good exit strategy take at least 5 years to implement... :!: You need to be able to TEST...
TEST...TEST... its viability & modify policy along the way... :idea: The key to moving into
a retirement position with your company...IS... predicated on your ability to HIRE YOUR SUCESSOR..!!!!!!!

ps.I could go on & on...HOWEVER...many here canNOT absorb the information in long posts.
So if you have specific questions..? Lets answer them one at a time... :idea:

pps..Excuse me if I sound like Ken Snow... ME>>ME>>ME>>>I>I>I>ME>>ME.... yes, I really clean up pet shit for a living Dad..

ok, but there has to be a $$$ amount in my mind.....

serious here not trying to just be an ass...

But how many guys

1. their spouses work???
2. are their only means of money....IE wife stays at home with kids etc.???

While I am fully aware I am WAY off on the money thats needed to get off the truck...or hire a FT tech or Sec...(hell when you yourself work part time its kinda hard )

I think over 60% of the guys here have a wife who works as well....(not counting the snows, and chavezs)

well that makes it easy to be able to take a bit of a hit here or there doesnt it???

So aside from me throwing everything out of the window for say a 3 mth period and pound the hell out of the pavement to track down the work....

what then comes 1st....more work and hope for a decent tech???

OR

A decent Tech and hope for the work to pay him to stay???

Then once you are to that point of a tech...then you move on to the next part....

multiple techs, and the managing of them aspect...

 

[Desk Jockey]

have made a good living
buying companies with business plans that FAIL.....because they kept the WAND in their
hands too long...

It's the carpet cleaners curse. You think no one can clean as good as yourself. It is difficult to get passed, it was hard for me to let go of the wand. I always thought I could clean better and faster that any of the tech's. IT"S A CURSE. LIKE!



My wife works, she stayed home until the twins made it to middle school. Then she just about lost her mind doing nothing at home. She volunteered for a while but she eventually became bored with that too. She works to be social and to have something to do...best of all she can't spend money if she's working. hey now

 

[joe harper]

The "CURSE" is nothing more than a excuse...to hide behind the "FACT"...that the only
contribution they have to offer to their business is PHYSICAL LABOR... yes, I really clean up pet shit for a living Dad..

TRUST ME....No one wants to see a 50 + year old man in their house SWEATING.... to the point that
the homeowner is afraid they may have to call EMS.. KMA!

 

[joe harper]

Doug.

WHY ....would you have to take 3 months off to "pound the pavement" to increase volume... :?:

Just keep working & INVEST some of the "fruits of your labor" into marketing.... :!:

BTW...I call "BulLsHiT"..on the working wife theory... KMA!

If after 5 years your business cannot generate enough income to support your ENTIRE FAMILY....?
"It is time for YOU to look for a JOB"... yes, I really clean up pet shit for a living Dad..

 

[NobleCarpetCleaners]

I'm trying to follow these threads but some folks here write like 5th graders.

 

[joe harper]

GENTLEMEN,

Here is a little business information...RULE #1.... :idea:


NEVER enter into ANY business investment or venture..."WITHOUT AN EXIT STRATEGY"... :!:

So many business opportunities ....sadly just rot on the vine..! Most O/O's have NO plan for prosperity...so when the oppertunity to grow is apparent....They take a vacation... buy a new
car... purchase a larger home... Or buy a BIGGER TM... KMA!

The ONE thing you must have in your possession at all times is..."FINANCIAL DISCIPLINE."

Here is a QUESTION...every one reading this post...Should ask themselves,
before they go to bed tonight... :?:

"WHAT HAPPENS "to my family"...IF I HAVE A "STROKE" TOMORROW ?" :idea: :idea: :idea:

I don't care if you are 21 or 71 this can be a real possibility... -sniff "I have seen your photos"

I hear you guys "explain away"..how you can still operate..with bad backs..broken limbs..sore necks..carpal tunnel..car accidents..ect.ect.ect.... KMA!
BUT..."WHAT THE HELL..will you do if you can't SPEAK.. :?: :?: :?: :?: "

Sooo..This just goes to my POINT...."That NO owner should be on the truck.."full time"."
Your stubbornness or "laziness" puts you & your FAMILY in harms way every time you get
on that TRUCK...!

 

[joe harper]

I'm trying to follow these threads but some folks here write like 5th graders.

That is because you read at a 1st. grade LEVEL.... yes, I really clean up pet shit for a living Dad.. eat shit!

 

[Art Kelley]

TRUST ME....No one wants to see a 50 + year old man in their house SWEATING.... to the point that
the homeowner is afraid they may have to call EMS.. KMA!

I feel bad for Joe. For an O/O this is the greatest job in the world. I'll be 57 next week and I still can work like I did when I was 19. You get fawning women that are hot hot hot, sex, drugs, all the money you want and when you put in an I-Pod, Rock and Roll baby. Rock Star Baby. Joe had to hand it over to his son and just watch. And jerk off.

 

[joe harper]

TRUST ME....No one wants to see a 50 + year old man in their house SWEATING.... to the point that
the homeowner is afraid they may have to call EMS.. KMA!

I feel bad for Joe. For an O/O this is the greatest job in the world. I'll be 57 next week and I still can work like I did when I was 19. You get fawning women that are hot hot hot, sex, drugs, all the money you want and when you put in an I-Pod, Rock and Roll baby. Rock Star Baby. Joe had to hand it over to his son and just watch. And jerk off.

LOL,

Art...I have seen the pic of you with your shirt off..."You are an exception to my rAntInGs"
You were @ some of the MB events..."Would you want to see those FAT BASTURD'S...dRiPpInG
their SWEAT at 100 psi all over your carpets & furniture...?"

You have a pass for NOW..! The problem IS....you will probably still be doing the same thing @
67...! You will just be DRUeLinG... eat shit!

 

[Jim Martin]

GENTLEMEN,

Here is a little business information...RULE #1.... :idea:


NEVER enter into ANY business investment or venture..."WITHOUT AN EXIT STRATEGY"... :!:

you automatically assume that people did not have an exit strategy...I am sure most here are smart enough to have one...that does not mean that when the time came other things came up and the plan did not fall into place like they thought it would...things change all the time...you have to adapt with it....

So many business opportunities ....sadly just rot on the vine..! Most O/O's have NO plan for prosperity...so when the oppertunity to grow is apparent....They take a vacation... buy a new
car... purchase a larger home... Or buy a BIGGER TM... KMA!

actually..there is noting wrong with this...as an O/O...and not having to worry about other people and things.....take those vacations..upgrade your equipment...get your self in place for when it is time to step away..because when you do the ball game is going to change and until you get the swing of it and everything where it needs to be...you may have to back it down a bit...


The ONE thing you must have in your possession at all times is..."FINANCIAL DISCIPLINE."

agree......

Here is a QUESTION...every one reading this post...Should ask themselves,
before they go to bed tonight... :?:

"WHAT HAPPENS "to my family"...IF I HAVE A "STROKE" TOMORROW ?" :idea: :idea: :idea:

I am worth more dead then I am alive so that is covered....

I don't care if you are 21 or 71 this can be a real possibility... -sniff "I have seen your photos"

I hear you guys "explain away"..how you can still operate..with bad backs..broken limbs..sore necks..carpal tunnel..car accidents..ect.ect.ect.... KMA!
BUT..."WHAT THE HELL..will you do if you can't SPEAK.. :?: :?: :?: :?: "

you do what you have to do...to get yourself in place...no one said this was going to be easy...a person has to work themselves to where they need to be..and it is not going to get done crying about...you just have to have that will to succeed ......

Sooo..This just goes to my POINT...."That NO owner should be on the truck.."full time"."
Your stubbornness or "laziness" puts you & your FAMILY in harms way every time you get
on that TRUCK...!

thats a loaded statement....your tech could run a light and kill 2 people...the moon could fall out of the sky tomorrow...you could trip over one of your goats and break your old neck.....my wife could get hit by a car checking the mail....whats your point...are we to live in a bubble.....a normal 9 to 5 guy could blow a tire and roll his car on the interstate and die on his way to work...did he put his family in harms way....???

 

[Erik]

I'm only on my truck 3-4 days a week. I have two techs that do most of the large jobs that bring in most of the money. My wife was able to stay home and raise our two daughters, they are now 18 & 19 years old. To send your wife to work as an owner operator, IMO is not very smart. She is worth much more running the office.

P.S. Art- I can still swing the wand like I was 19 (every other day) LOL

 

[Chris A]

I'm only on my truck 3-4 days a week. I have two techs that do most of the large jobs that bring in most of the money. My wife was able to stay home and raise our two daughters, they are now 18 & 19 years old. To send your wife to work as an owner operator, IMO is not very smart. She is worth much more running the office.

P.S. Art- I can still swing the wand like I was 19 (every other day) LOL

This is the eventual goal I am working towards

 

[joe harper]

"DENIAL"....is such a justifiable position... LIKE!


BTW...What if you didn't DIE..? " What if the stroke leaves you...a vegetable..."
I couldn't imagine the HORROR....Of watching my family have to start over..And
Me becoming a burden to them... -sniff

 

[joe harper]

I'm only on my truck 3-4 days a week. I have two techs that do most of the large jobs that bring in most of the money. My wife was able to stay home and raise our two daughters, they are now 18 & 19 years old. To send your wife to work as an owner operator, IMO is not very smart. She is worth much more running the office.

P.S. Art- I can still swing the wand like I was 19 (every other day) LOL

AGREED...!

 

[Jim Martin]

"DENIAL"....is such a justifiable position... LIKE!


BTW...What if you didn't DIE..? " What if the stroke leaves you...a vegetable..."
I couldn't imagine the HORROR....Of watching my family have to start over..And
Me becoming a burden to them... -sniff

I am not seeing denial any where here...some of us like to work...some of us are still trying to get things in place...you cant get stuck on the" what ifs "......then noting would get achieved.....it can go the other way to...what if my wife had a stroke...what the difference...are we both supposed to hide in fear about what tomorrow may bring...I would hate to be in your house when you get a hang nail...I bet you wig out for 3 days.........

 

[joe harper]

"DENIAL"....is such a justifiable position... LIKE!


BTW...What if you didn't DIE..? " What if the stroke leaves you...a vegetable..."
I couldn't imagine the HORROR....Of watching my family have to start over..And
Me becoming a burden to them... -sniff

I am not seeing denial any where here...some of us like to work...some of us are still trying to get things in place...you cant get stuck on the" what ifs "......then noting would get achieved.....it can go the other way to...what if my wife had a stroke...what the difference...are we both supposed to hide in fear about what tomorrow may bring...I would hate to be in your house when you get a hang nail...I bet you wig out for 3 days.........

just playing ..DEVIL'S ADVOCATE..

BTW...It is 4 days...get it right.. eat shit!

 

[Jim Martin]

"DENIAL"....is such a justifiable position... LIKE!


BTW...What if you didn't DIE..? " What if the stroke leaves you...a vegetable..."
I couldn't imagine the HORROR....Of watching my family have to start over..And
Me becoming a burden to them... -sniff

I am not seeing denial any where here...some of us like to work...some of us are still trying to get things in place...you cant get stuck on the" what ifs "......then noting would get achieved.....it can go the other way to...what if my wife had a stroke...what the difference...are we both supposed to hide in fear about what tomorrow may bring...I would hate to be in your house when you get a hang nail...I bet you wig out for 3 days.........

just playing ..DEVIL'S ADVOCATE..

BTW...It is 4 days...get it right.. eat shit!

LOL....sorry...4

 

[Jim Martin]

rest a sure....I know it is time for me to get off the truck...I wanted to do 10 years...and I am just into my ninth....I figured if I could do 10 then I could have everything in place that I wanted...I am just short of a few things but nothing that is going to really hurt me...but I am not going to make 10....and I know it...I think my problem is that I want more someone to take it over...so I can focus on other things with the company..not an employee that just wants a pay check..........

 

[floorguy]

Heres my thing.....AND I READILY ADMIT IT!!!!! so lets put that out there first...

I own a PT job, that allows me to be at home more....lets the wife work, not work, do what ever...

and i KNOW it is limiting.....

I am a 2nd generation cleaner, and came from the same mold of...work a little here and there...yes its a curse to some point....

like Jim said..i am worth more dead then alive, and my wife knows she damn well better not leave me in a vegetable state....SHIT if there aint better then a 60-70% chance if i got cancer....then just start planting my daisys...cuz i wont put them in financial dire...


I would have to smack the pavement because for me, and this area..it would breed more $$$$ for the investment....because i have tried a few things marketing wise....big fat ZERO....

what would you put out there???

and you know as well as i that the 60% number i threw out there is true about the wifes working...

besides mine does some of the books and stuff....but she isnt happy with just that...and we tend to argue over things to...

yes i have control issues.......so F off J/K J/K J/K J/K J/K J/K J/K

 

[joe harper]

JIm...

I would normally do this in a PM..."but"

I hope you realize that I am "bustin your balls" with the DENIAL word.."because"
I believe you are @ a turning point in your BIZ..from your previous post.
You are a self-made man...That makes you hard-headed & set in your ways... hey now

You are MUCH smarter than me..! and I am sure you will make the right decision's..!!!
SOMETIMES...a little "peer-pressure"...can go a long way toward helping you to GET OVER THE WALL.

I would like to see more..."competitive banner" ... in the threads between the moderator's.
You guys have a wealth of ideas and experience....BUT....If you guys disagree....nothing is said
in the open forum..? "EasY mEaT"...you are an exception..LOL

It is PRETTY easy to PouND on the newbies... -sniff
I personally would like to see some more HEAVEY WEIGHT FIGHT'S....around here... :idea:
A lot more can be learned by the readers....With a couple of Veteran Fighters in the RING... :idea:


ps...I consider "jUghEaD" to be a newbie...FOR THE RECORD...