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Employee's #155346
12/26/04 09:59 AM
12/26/04 09:59 AM
Obsaleet  Offline OP
Member
Joined: Apr 2003
Posts: 362
Pa
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.
Business, Office, Estimating, Legal:
Re: Employee's #155347
12/26/04 10:55 AM
12/26/04 10:55 AM
D
Dnkldorf  Offline
Member
Joined: Dec 2004
Posts: 1,064
nowhere usa
Phil, are you running any kind of business software, "quickbooks, quicken, ms small business"?

Re: Employee's #155348
12/26/04 11:59 AM
12/26/04 11:59 AM
D
Dave55  Offline
Member
Joined: May 2004
Posts: 697
Crystal Lake, Illinois, USA
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

Re: Employee's #155349
12/26/04 12:59 PM
12/26/04 12:59 PM
Obsaleet  Offline OP
Member
Joined: Apr 2003
Posts: 362
Pa
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.
Re: Employee's #155350
12/26/04 03:13 PM
12/26/04 03:13 PM
D
Dave55  Offline
Member
Joined: May 2004
Posts: 697
Crystal Lake, Illinois, USA
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

Re: Employee's #155351
12/27/04 04:48 PM
12/27/04 04:48 PM
E
Electricmanscott  Offline
Member
Joined: Jan 2002
Posts: 1,457
Holden, MA USA
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.......

Re: Employee's #155352
12/27/04 05:57 PM
12/27/04 05:57 PM
D
Dave55  Offline
Member
Joined: May 2004
Posts: 697
Crystal Lake, Illinois, USA
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

Re: Employee's #155353
12/27/04 08:31 PM
12/27/04 08:31 PM
E
Electricmanscott  Offline
Member
Joined: Jan 2002
Posts: 1,457
Holden, MA USA
Ouch! You better get away from the computer and get to work.


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