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NickN
02-08-2006, 09:00 PM
I've found that Grandma's advice pertains as much to my business as it does my personal life.Does anyone else see the truth in alot,if not all,of the old cliches'?Maybe I'm just getting old too http://www.gophergraphics.com/forum/iB_html/non-cgi/emoticons/biggrin.gif
Don't put all your eggs in one basket
You gotta crawl before you can walk
You get what you pay for
The tortoise and the hare story(Same as the crawl before you walk one)
The Golden Rule(Do unto others)

also,don't spend all of your money in one place.
I can think of instances where this advice has helped my business.One instance is another local landscape company.They were buying new vehicles,running around town,on the local TV,in the paper,getting city bids,and just looked like a well oiled machine.That was,until I read what they bid a project at.Needless to say it was way under priced in my opinion.Then,I read another report from the city where the contractor(unnamed in the paper)had under estimated a retaining wall by 4000 blocks.
That was when I started putting things together.This guy had no idea how to bid.
Fastforward to a few months later.I was working in subdivision when one of the homeowners asked about a lawn problem he was having.I explained the problem and gave him advice.He then went on to ask me why I wasn't into irrigation.I told him I enjoyed landscaping.I liked walking away from a project leaving it looking better than when I arrived.
The homeowner then went on to tell me how much money this same contractor was charging for an irrigation installation across the street from him.I was shocked at how high this guy had bid(not to mention someone bought it).It was 4 times the normal irrigation rate.
Another light went off in my head.Was this guy hurting so bad from his underbids that he was trying to catch up by overcharging others?
Well,evidentally is was so.They are now out of business.This got me thinking about the tortoise and the hare.Here I was thinking this guy had it all together.He started about the same time as I did,but he was moving lots faster in business growth.The new vehicles,employees,time on TV,equipment,etc.,,, took there toll.Needless to say ,there's alot of their customers out who are now SOL if they have a problem.
I figure this guy either invested everything he had,or everything someone else had in this business.They lost it all,simply by running from job to job instead of taking care of one client at a time.

Steve
02-09-2006, 01:37 PM
Hi NickN,

How true. Here is my reflection.
Quote[/b] ]Don't put all your eggs in one basket
Like don't have just one big customer.

Quote[/b] ]You gotta crawl before you can walk
Don't try to get too big too fast. You could easily overwhelm yourself.

Quote[/b] ]You get what you pay for
If you buy cheap equipment, it will break down more often.

Quote[/b] ]don't spend all of your money in one place.
Don't spend all of your money on a yellow pages ad and expect that to work for you as your only advertising.

Great story Nick. We all really need to build up our skills as we build our business. If we get in too deep too fast, our lack of skills we surely lead to our demise.