Adventures with Lyrical: Buying a Business (REPOST)
- Thread starter Shonuff
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Shonuff
Mr. Poopybutthole
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I've come to accept that with the extra money, come the extra hours. We try to take off a weekend here or there and go somewhere. If I get tired, I can always take some time off. But when I take time off, they just aren't the same. The guys on the crew are fine, but someone has to be able to talk to customers.
Cad
scientia potentia est
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Hire someone to do that. Buy another business, or 5 more. Hire people to manage those too. You'll make half what you used to make on each but you'll be supervising your business rather than working in it yourself. Multiply times multiple businesses and you'll make a lot more. Thats the point. If you micromanage your one company that one will make more but at the cost of your ability to manage others.
Shonuff
Mr. Poopybutthole
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I know. My ability to not recreate myself in others is a failure. In business, you aren't truly a success until you can do other things. We've had our best year since I bought the company, but I know that it would drop 20% absent me. No one cares like the owner.
Sterling
El Presidente
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They realize this. But they're saying getting 80-90 percent out of 3 businesses is better than getting 100 percent out of 1.
Shonuff
Mr. Poopybutthole
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My main problem is that my Estimator is streaky. He'll sell 10k in a day, and then not sell anything for a week. I'm always good for a consistent 3-4k a day. I've spent time training him, but he has problems closing people. He doesn't get any negative feedback from customers, he just sucks at getting them to sign on the dotted line. My wife has to follow up with the tickets he's run, and close them after the fact. I usually close 50% of the people I talk to. He's closing 10%, but that rate is higher with my wife's help. I need a guy who can go out and sell all of the work himself. He's kind of weak. I can close all of the work for the guys myself, and have done so for a given week. His overall close amount is half the sales that I do.
Palum
what Suineg set it to
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opiate82
Bronze Squire
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That is all fine and I hear you. There are definitely times where I've had to step in and manage one of my stores, but those are always very temporary. I wouldn't be able to have multiple locations if I wasn't able to delegate out the store manager position. You will always be a better "store manager" than the guy/gal you have in place. If you do manage to find someone just as good and motivated as you they are likely to move on pretty quick for many of the same reasons you went out on your own. But until you are able to fully turn over the reigns to someone else you'll never be able to act as a "regional manager" overseeing multiple store managers. If you can't do that your growth is going to be capped at the hours you are able to put in.
Some of it is finding the right person, no doubt, but some of it also falls on you to do the proper training and to find the proper motivation. Either way, you get stuck working in the business and not on it, your growth is going to be capped at your work hours.
Shonuff
Mr. Poopybutthole
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Don't put words in my mouth.
I can find a decent salesperson, but remember, we aren't selling off of invoices. They need to know how to get to a realistic price, and they need to be solid technically. I can reach out and have someone new selling for me tomorrow. But the choices I have will be someone who can sell, but can't do a proper diagnosis, or someone who has industry experience, but may try to do side jobs.
Over the years, there's always been one guy I've had that can sell 50%. Unfortunately, they either got hooked on drugs, got caught doing side jobs, or went to start their own business (and failed). As long as he doesn't sell at 50%, I have to. This is a stumbling block. There have been days where I planned on doing my owner duties, and had to spend 12 hours selling instead.
Tarrant
<Prior Amod>
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You said don't put words in your mouth and then confirmed what I said.
I'm not trying to be a dick here, but you are the one with a record here.
You've NEVER in all these years been able to find a guy who can do his job without a major draw back be it theft or drugs. All other companies eventually can build a staff at a position they need....except you. At what point do you realize it's you or your vetting process?
I'm not trying to be a dick here, but you are the one with a record here.
Shonuff
Mr. Poopybutthole
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Quit being a cunt. Every other company in my industry within 50 miles has only one Estimator, the owner. They all tell me the same thing, they don't trust anyone else. Either the guy they pick is really strong technically, but can't relate to people, or he can sell, but bids side jobs. Most of the time, it's the need for drugs that does that, but some guys are just dishonest.
There are probably 150 companies in my area doing what we do. I am the biggest company. They all have the same issues, so the owner is the only one that bids. It's just too much temptation for them to bid the company's jobs high, and then tell the customer to keep his mouth shut, but they can come back during the weekend and do that job at a lower rate.
opiate82
Bronze Squire
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Says that he isn't trying to be a dick, so obviously he's being a cunt...? I guess I follow that logic.
Tarrant
<Prior Amod>
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Eh, I like Lyrical but he's always been the guy where he's never wrong and if you question him, you're a dick....or well, in this case, a cunt apparently.Says that he isn't trying to be a dick, so obviously he's being a cunt...? I guess I follow that logic.
BrutulTM
Good, bad, I'm the guy with the gun.
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It is pretty tough to find somebody who is smart and ambitious enough to do a great job for you, but not smart and ambitious enough that once they learn the business they will realize they would make a lot more money doing it on their own instead of drawing a salary and making tons of money for someone else. I think Lyrical's mistake is that he's looking for somebody that doesn't really exist. No one is going to be as motivated to make money for your business as you are. Why would they be? If they're going to kill themselves, they're going to do it for their own business, not for yours, and if they are willing to work for you on a salary it's probably because don't want to kill themselves at work every day. It's just one more thing you have to deal with if you run a business.