For you as a residential services contractor I’ll make two assumptions. First, I’m guessing that you are at least ‘reasonably good’ at your trade(s). Second, you’re probably making more money than you ever dreamed of! (And of course you have all the ‘associated toys’ too! (Cars, boats, motorcycles, golf clubs, etc.)
Am I right or am I right? 😁 After all, any reasonably competent member of our home services industry should (at the very least) be making a ‘good living’. But WAIT! Even your service techs are (hopefully) being well paid! And speaking of techs…
RESOURCE #1: Hire better employees with 100’s of new recruiting ideas and systems in my 3-hour, online SFS: Hiring the Very Best! LIVE seminar. To learn more and/or easily register online click HERE.
RESOURCE #2: Once you have great techs train them in how to make Cheerleaders out of your residential clients using my MP3 Winning on the Home Front tech training. Click HERE to learn more…
But YOU as a small service business entrepreneur deserve (and need) SO MUCH MORE than just a ‘good living’. Why? Just contrast the two lifestyles {and related pressures} profiled below…
| INVESTMENT | Competent Service Technician | Home Services Entrepreneur |
| Time | 8-9 hours 5 days @ week | 24-7 either working or thinking about ‘work’! |
| Effort | Does a ‘good job’, clocks out and goes home. | Whatever it takes! |
| Energy | Routinely works diligently. | Capable of super-human exertion. |
| Emotions | Cares about doing a good job but more focused on their life. | The business is your baby. |
| Financial | Draws a paycheck. | No sales? No profit? No house payment! |
| Risk | None. (A competent service tech can always get a job.) | Every day everything is on the line! Including your family’s future! |
| Pressure | Little to none. | Constant. |
| ‘Overhead’ | None | Far too many HSP’s are clueless on the true cost of doing business! |
Please take a moment and meditate on the above chart. Could you ever remotely hire an employee (for any amount of money) to work as hard/ care as much as you do? Of course not! And that’s OK! However…
Just for grins ponder on the time, work, emotions and yes, money reflected in that right hand column. Then remember that capitalism functions on a key principle called ‘Return on Investment’.(ROI)
True, part of your ‘return’ will be in the distant future when you (hopefully) will sell your company. (Or transfer it to the next generation who will in return fund your comfortable retirement with an ongoing revenue stream!)
NOTE: This is a whole different subject that deserves a whole different series of blog posts! Hmmm…
However, part of your ROI should be ‘ongoing’ NOW. This additional income over and above ‘just a good living’ will allow you to reinvest to grow your business. It will also provide a business and personal cushion for the occasional (and inevitable) business slowdown.
PLUS, you also deserve a different type of ROI called ‘REWARD on Investment’! As I tell all my clients, “All other things being equal, MORE money is better than LESS money!” Of course…
My guess is I’ve been ‘preaching to the choir’ with all of the above. You’re probably thinking, “Steve, this has been a nice pep talk but tell me in detail: HOW I can Make More Money!” (MMM) Great! Look for a new MMM missive very soon!
HEADS UP: You’ll learn so much in my different online SFS: LIVE seminars! Plus you’ll implement these concepts easily with our turnkey ‘Business Infrastructure’!
Best wishes and let’s ‘git ‘er done’… TOGETHER!
Steve