Don't have the bite to chew

Recently I started my own business so that I can step away from my current job. It was hard at first but I can do it just fine. Now I am giving estimates that go beyond my budget and I am scared. I can cover the cost but am scared of not measuring the space correctly and mucking this all up. Did I get myself into something I can't handle?
So I ask all those on ATS that own a business how you or how did you address this type of situation? I feel that I wasted my time.

I just want to make a company and then sell it and make a dime.

a reply to: Allaroundyou

I'm thinking you need to cough up a WHOLE lot more information before you can get a decent answer.

You are talking about space and an estimate... what exactly are you doing?

Too many variables to give any kind of answer....

a reply to: Allaroundyou

Such a strange topic. It seems you are asking for assistance on how to run a business but you never mentioned your idea.

a reply to: Allaroundyou


Measure twice, then measure again. Cut once.

originally posted by: Sookiechacha
a reply to: Allaroundyou


Measure twice, then measure again. Cut once.

Then pad your estimate by 15%...

But we don't know what we are talking about here.

Curtains?

Interior painting?

Excavation?

Hair implantation?

Pool remodeling?

Floor space for a retail idea?

We can go on and on....

Need more info!!!!!

a reply to: Allaroundyou

The good thing about borrowing money is you can grow your company faster. The bad thing about borrowing money is if business goes south you are left with debt.

a reply to: Allaroundyou

Best advice is chop and channel 😎

Especially when dreams are involved 😎

I agree that we need more information here to be of more help, but that said, if you are worried about taking jobs that can overextend you, maybe ease back and take smaller jobs until you feel more comfortable?

A good friend of mine owns a concrete company with very a small crew. he never takes jobs that he cant cover the losses should something go wrong........and he has been in business a long time.

Make sure the deposit covers the cost of materials if possible or get them to pay upfront for materials
If you under quote you are only loosing time not cash

I have mates and I can get help if I am not sure what I need to do, circle of friends is important

I started slowly and didn't have to take out much of a loan. I also had word of mouth do my advertising so had no advertising costs other than some hats I bought one time and some pens with my company name on them.

I wasn't about to go way over my head and chew off more than I could swallow. I liked being a smaller contractor, picking and choosing my jobs. I turned down at least three quarters of the jobs I was asked to bid on, I let the people know I was fussy and I didn't want to take on more than I could handle and nobody really got upset that I turned down. Because I was fussy, I did not get rich but made a decent living and I learned all sorts of new things. Sometimes I took jobs working for professional people who were old and could not do the work anymore, I learned how to do lots of different things from those people.

You have to choose how you want to do things, I was never enthused by money, I wanted to be remembered as a person who did a good job at a reasonable price. I did lots of research on the quality of materials I was using, and there was a lot of false information being spread about things, warranties are only good until a company goes bankrupt. I saw some manufacturers giving fifty year warranties then go bankrupt in ten years. Something people do not consider. When buying things, price is not a good judge of quality anymore.

Ask for plans, working of plans is a lot easier than running around with a tape measure. if you can't get plans measure up, round up and accept you going to make mistakes. if the job is big other let it go or go high, it's better to lose the job than lose your ass.

Well, the trick is....

The size of the bread really isn't that important because cheese generally comes in standard sizes. Same with the cold cuts. Tomatoes have a nominal size and you should always figure two slices of tomato. Then there's the mayo which, if spread with a spatula, is the exact amount.

And then there's the scraping of the barnacles from the hull. This has to be done first before the substrate can be fully evaluated. Pressure washing is not enough.

Now, all of this is dependent on how many people have to fit in the stadium, and whether or not it will ever host a Bowl game.

And, lastly but probably most importantly, you must accurately estimate the gravitational pull of Jupiter if you intend to use it as a gravitational slingshot for exiting the Solar System.

I believe this should sufficiently answer your question.

Anything else?

a reply to: Lumenari

I am installing window fixings and I also do textile but the textile has garnished 0 hits.
My most recent was on Thursday and the owner of the business wants me to do this on his other properties.
I have already done 1 install at said properties and had to do so with a McLaren F1 almost under my work space....talk about stress.....
This dude want me to now give an estimate for a casino hotel that he has. I can do that but I also essentially work alone. This seems like a waste of time unless I have have others work with me. The problem is that I don't like people and don't trust people to do a good job. Thus I am slowed down by my own bias.

originally posted by: Flyingclaydisk
Well, the trick is....

The size of the bread really isn't that important because cheese generally comes in standard sizes. Same with the cold cuts. Tomatoes have a nominal size and you should always figure two slices of tomato. Then there's the mayo which, if spread with a spatula, is the exact amount.

And then there's the scraping of the barnacles from the hull. This has to be done first before the substrate can be fully evaluated. Pressure washing is not enough.

Now, all of this is dependent on how many people have to fit in the stadium, and whether or not it will ever host a Bowl game.

And, lastly but probably most importantly, you must accurately estimate the gravitational pull of Jupiter if you intend to use it as a gravitational slingshot for exiting the Solar System.

I believe this should sufficiently answer your question.

Anything else?

WOW

I like you dude and this is now one of the best things you have said.
I actually have a folder of the recipes you post but this gets a new folder.

a reply to: Allaroundyou

Just tryin' to be helpful.

Wasn't sure what you were tryin' to do, so I figured I'd try to cover all the bases.

originally posted by: Flyingclaydisk
Well, the trick is....

The size of the bread really isn't that important because cheese generally comes in standard sizes. Same with the cold cuts. Tomatoes have a nominal size and you should always figure two slices of tomato. Then there's the mayo which, if spread with a spatula, is the exact amount.

And then there's the scraping of the barnacles from the hull. This has to be done first before the substrate can be fully evaluated. Pressure washing is not enough.

Now, all of this is dependent on how many people have to fit in the stadium, and whether or not it will ever host a Bowl game.

And, lastly but probably most importantly, you must accurately estimate the gravitational pull of Jupiter if you intend to use it as a gravitational slingshot for exiting the Solar System.

I believe this should sufficiently answer your question.

Anything else?

Love it!

Rainbows
Jane

Communication is the key.

Work on that first...

a reply to: Allaroundyou

Double, triple, quadruple check your numbers.

a reply to: Allaroundyou

I would also add.... you know your market but it could be a risk to inflate your quotes just in case you make an error.

originally posted by: and14263
a reply to: Allaroundyou

I would also add.... you know your market but it could be a risk to inflate your quotes just in case you make an error.

I have already made that mistake on my first job. I gave a quote and had no idea on how to measure a "witch window" but in the end it worked out though I made no money off that job. I did learn something though so that is a gain.

This being a one man thing has just taken a turn to a needed multiple dude thing. I can possibly do it on my own but doubtful and would cost much upfront on my end. I either need to cancel that job or hire others to help. I am well versed on hiring people for tech work but hands on I have no clue.