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Topic:
Retirement/Exit strategy?
This thread has 83 replies. Displaying posts 46 through 60.
Post 46 made on Thursday September 5, 2019 at 20:33
internetraver
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When it comes to the DIY products out there vs. my system, I explain it to my clients like this.  Every-single-bit of information that goes through that router or camera is now owned by them.......are you sure you're okay with that?

Then they have me install my product at a higher cost and higher margin!
Post 47 made on Thursday September 5, 2019 at 20:35
Brad Humphrey
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I just watched a video from a person I follow, that I think directly relates to this subject of burnout and running a business.
Some of you might know this person already, especially if you are in NY. He is a repair shop/supplier/etc.

You have got to watch this video all the way to the end and listen. So when you have about 45 minutes to spare:

Post 48 made on Thursday September 5, 2019 at 20:41
radiorhea
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On September 5, 2019 at 20:33, internetraver said...
When it comes to the DIY products out there vs. my system, I explain it to my clients like this.  Every-single-bit of information that goes through that router or camera is now owned by them.......are you sure you're okay with that?

Then they have me install my product at a higher cost and higher margin!

THIS FOLKS IS THE VERY BEST RESPONSE OUT THERE SO FAR!!!!!!
Drinking upstream from the herd since 1960
Post 49 made on Thursday September 5, 2019 at 20:52
Archibald "Harry" Tuttle
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On September 5, 2019 at 17:03, Old Man River said...
I actually spoke to a colleague down in Houston that I used to occasionally work with, recently. He mentioned a guy that shifted his entire business to just installing the DIY gear for people, whether he supplied it, or they did, and he's apparently doing very well with that strategy. With the heavy shift towards Sonos I've been making over the last year, it almost seems like not that bad of an idea. One of my dirty reps met with me yesterday, and claims another dealer, albeit in a much larger market, was making $5k a week on Eero installs alone. Definitely something to consider.

Pretty sure I know the guy in Houston who does all the DIY jobs - talked to him about his new angled approach at business during a recent training. His crews are doing lots and lots of work, but I know we wouldn't last long dealing with those type clients. Just the thought of programming a Harmony remote makes me queasy.
I came into this game for the action, the excitement. Go anywhere, travel light, get in, get out, wherever there's AV trouble, a man alone.
Post 50 made on Thursday September 5, 2019 at 21:00
Archibald "Harry" Tuttle
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On September 4, 2019 at 20:54, skynyrdfan said...
Many of my friends became cops and fireman. They are retired and pulling in more per year than I make killing myself....

Cops and firemens, the ultimate government parasites. At least the firemens do provide a somewhat useful service. Cops, not so much.

*Props to you skynyrdfan for doing the honest work and not getting on the gubment gravy train.
I came into this game for the action, the excitement. Go anywhere, travel light, get in, get out, wherever there's AV trouble, a man alone.
Post 51 made on Friday September 6, 2019 at 00:04
Dave in Balto
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Today I talked to a client who owns a large Remodeling company, he has a contract on an army base to remodel basically the whole place, it's a small city. He said he can't find decent labor, he's paying $50 hr for trim carpenters. Can't find a decent electrician. I bill $125, I don't bill 40 hrs a week ever. Honestly, it's impossible to put in that much time in labor as a one man show and stay sane.

$50 an hour to install trim sounds pretty awesome. I have mitre saws, nail guns, know how to use a tape measure. I have a $15 plastic piece of shit to measure angles. I'll never have to learn anything else again in my life. Just show up 40 hours a week, make a decent pay check, do a side job here and there and be good.
Hey, careful man, there's a beverage here!

The Dude
Post 52 made on Friday September 6, 2019 at 14:18
Trunk-Slammer -Supreme
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On September 6, 2019 at 00:04, Dave in Balto said...
I don't bill 40 hrs a week ever. Honestly, it's impossible to put in that much time in labor as a one man show and stay sane.

That explains all of my mental problems.

$50 an hour to install trim sounds pretty awesome. I have mitre saws, nail guns, know how to use a tape measure. I have a $15 plastic piece of shit to measure angles. I'll never have to learn anything else again in my life. Just show up 40 hours a week, make a decent pay check, do a side job here and there and be good.

This is true as long as it isn't a sub contract deal where you pay your own taxes, insurance, etc, etc.
Post 53 made on Friday September 6, 2019 at 17:28
cma
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On September 5, 2019 at 01:23, tomciara said...
I’m almost up to year 45 in the industry.

I started as an audio repair tech.

I can give you all the transitional things that I’ve done between then and today, but the bottom line is business rolls over completely on a five or 10 year timetable. You constantly have to re-define yourself. You have to adjust. You can’t keep doing the same things that you have been doing and think that you will make it.

You can moan and groan about do it yourself products. The way I see it is, we have so many more options, different things that we can do within our sphere of expertise, that clients do not want to do. That is why we are in business.

There will always be people that want someone who is skilled and trustworthy to do things for them. That spans every decade that I have worked, and it will continue to be that way.

If you are that guy, you will have people who love to tell their friends about you, (or you should be asking them to tell at least three of their friends about you).

If you are getting zero referrals, then maybe the industry is not the problem.

Make sure you are honestly and truly an expert in the products that you install. Don’t fake it. Make sure that you do neat work, not sloppy stuff that people look at and see you do not really care. I am cleaning up on a takeover job now, where cables are strewn about like spaghetti, the rack was done haphazardly, and the whole job was not completed. You’d better make sure you don’t do that kind of work.

And make sure that you are accessible, so if there is a glitch, you are there to save the day. They will brag about you to their friends.

If you meet a builder on the job, make sure that you tell him you are going to do a great job, and make the job run smoothly with your part of the deal. Tell him you want to do a good enough job that he will think about you the next time a client asks about your kind of work.

I do kick ass work and my builders know it, I have no problems getting repeat business from builders, on my commercial jobs my builder just sends me a set of prints and asks me to get numbers together for them by the end of the week.

Residential work and being "accessible" is the problem. As in last night.. get a text form a client saying that their alarm is going off and says "low battery" and they need to know what their code is so that they can disarm it.. F you!, call me in the evening asking me for the code because you can't even be bothered to remember your own security code for the security system in your own house?

I'm a 1 man shop, last year I did just over $250k in sales with pretty much just 3 real projects, all commercial with a few small residential filler jobs. This year I'm on target to beat last year by a fair amount, once again mostly commercial.

It's the residential crap that I'm tired of dealing with. On my commercial jobs I do primarily CCTV, access control, AV in apartment complex common areas, and security. I don't get calls in the evening from these people asking me what their security code is. About the only issue I have with commercial is that you cannot put in for a progress invoice until the equipment is on site and installed and then you don't receive payment until the following month so on a large $180k project I can sometimes be out of pocket up to $50k for two months at a time. When it comes to commercial work I'm tired of being someone else's credit card.
Post 54 made on Friday September 6, 2019 at 17:48
tomciara
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There’s always the issue of boundaries.

I respond in the evenings occasionally and I am helping nice folks. Oh, and not while I am doing something with the fam.

You and I have to set boundaries and not feel bad about it.
There is no truth anymore. Only assertions. The internet world has no interest in truth, only vindication for preconceived assumptions.
Post 55 made on Friday September 6, 2019 at 19:09
Trunk-Slammer -Supreme
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On September 6, 2019 at 17:28, cma said...
Residential work and being "accessible" is the problem. As in last night.. get a text form a client saying that their alarm is going off and says "low battery" and they need to know what their code is so that they can disarm it.. F you!, call me in the evening asking me for the code because you can't even be bothered to remember your own security code for the security system in your own house?

BULLSHIT.

The client uses their code damn near every day or night. No way they called you for the code. Now maybe they didn't know they could disconnect the power and battery, but asking you for the code? Not believing that one.




When it comes to commercial work I'm tired of being someone else's credit card.

There is that, but the pay IS much better.
Post 56 made on Friday September 6, 2019 at 19:54
roddymcg
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On September 6, 2019 at 19:09, Trunk-Slammer -Supreme said...
BULLSHIT.

The client uses their code damn near every day or night. No way they called you for the code. Now maybe they didn't know they could disconnect the power and battery, but asking you for the code? Not believing that one.


|When it comes to commercial work I'm tired of being someone else's credit card.

There is that, but the pay IS much better.

Lots of clients do not remember their codes, I see it all the time up here. I'd venture to say more than 1/2 the alarms up here are not used. Maybe more... I've had this call more than once and I am not on the alarm team.
When good enough is not good enough.
Post 57 made on Friday September 6, 2019 at 20:27
tweeterguy
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I just asked the wife what her alarm code was. She didn’t know; “I haven’t used it since it was first setup”.
How do you arm/disarm every day? “Uhh the app!?! Or the keypads you have setup in the house to arm it”
Do you put the code in the app? “No, facial recognition on iPhone”

Case closed.
Post 58 made on Friday September 6, 2019 at 21:31
TBD Brian
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I believe that this isn then only answer!
TBD Brian
Post 59 made on Friday September 6, 2019 at 22:35
roddymcg
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On September 6, 2019 at 20:27, tweeterguy said...
I just asked the wife what her alarm code was. She didn’t know; “I haven’t used it since it was first setup”.
How do you arm/disarm every day? “Uhh the app!?! Or the keypads you have setup in the house to arm it”
Do you put the code in the app? “No, facial recognition on iPhone”

Case closed.

There is that side of things as well. Kelly is living in an alternate universe... lol
When good enough is not good enough.
Post 60 made on Saturday September 7, 2019 at 09:05
highfigh
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On September 6, 2019 at 19:09, Trunk-Slammer -Supreme said...
BULLSHIT.

The client uses their code damn near every day or night. No way they called you for the code. Now maybe they didn't know they could disconnect the power and battery, but asking you for the code? Not believing that one.


You do know that some alarm systems can be armed and disarmed with a key fob, right?
My mechanic told me, "I couldn't repair your brakes, so I made your horn louder."
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