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#155346 12/26/04 09:59 AM
Joined: Apr 2003
Posts: 362
Member
I am presently turning work away. I do not like to do this and many of my long time customers are becoming frustrated by waiting. So I am thinking it is time to hire some one. I am not sure were to begin? How do I find good people? How much do I need to have in the bank for payroll? Taxes? Co. Policies? Any feed back is welcome [Linked Image]

Phil


Choose your customers, don't let them choose you.
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#155347 12/26/04 10:55 AM
Joined: Dec 2004
Posts: 1,064
D
Member
Phil, are you running any kind of business software, "quickbooks, quicken, ms small business"?

#155348 12/26/04 11:59 AM
Joined: May 2004
Posts: 697
D
Member
I'd consider carefully if my existing situation was profitable, and how adding payroll expense will affect that. Beware unless you know how to recalculate your "break-even" point. More work isn't always the same as more profitable work.

It may be a good oportunity to raise your rates, thereby becoming profitable, or increasing your profits.

Dave

#155349 12/26/04 12:59 PM
Joined: Apr 2003
Posts: 362
Member
dnkldorf, Iam using Quick books pro. I am in the process of working out things with mt accountant so it will be a better tool. (reports etc.)
Dave,
We do have a handle on our expenses and our rates I like to be as close to the most expensive as possible. We also have some subs that are a big help, but they are couple days here and there. Is this the right track?
Phil


Choose your customers, don't let them choose you.
#155350 12/26/04 03:13 PM
Joined: May 2004
Posts: 697
D
Member
I run this business alone, Obsaleet, so I can't be much help. I'd personally rather work 60 hour weeks and rake in the dough! I lost a kitchen job last summer when I was very busy, but she hated the other electrician and had me finish the job when I became available.

Sometimes when I'm busy I bid jobs at overtime since I'll be completing them in overtime hours. I don't get many of them, but the ones I do get are very profitable (and you don't want to be low-bidding when you're busy). Enjoy it while it lasts!

Dave

#155351 12/27/04 04:48 PM
Joined: Jan 2002
Posts: 1,457
E
Member
Dave if you enjoy it while it lasts for too long you'll be heading to your grave wondering where your life went. All work no play.......

#155352 12/27/04 05:57 PM
Joined: May 2004
Posts: 697
D
Member
I'm all for smelling the flowers, but with three in college I work it when I have it. There are still slow times when they wish I wasn't around so much.

Dave

#155353 12/27/04 08:31 PM
Joined: Jan 2002
Posts: 1,457
E
Member
Ouch! You better get away from the computer and get to work.


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