Here is the new business plan: 1. Finish up all the contracts that you have currently. 2. Raise your labor rates at least 50%. This will result in less jobs but the higher rates will bring in more money. 3. Work less hours because now you won't have as much work. 4. Learn to delegate key employees to take over your responsibilities on the job site when you are not there. 5. Most likely you will have to cut back on some staff. Keep the best who are willing to take on some of your responsibilities. Let the rest go. This will be the hardest thing.
There is something to be said for being the most expensive company. Many customers will often take the highest bid because they think that they will get the best job done. If you are referred by another customer then often those customers will not even get other bids
The amount of work your company is doing will drop. But the increased profit you make will compensate for doing fewer jobs. Because there is less work then you can assume more of a supervisors role. Just check in on the jobs each day and make sure that things are going to plans.
Schedule your work so that you are home each day by 5pm so that you can enjoy some quality time with the wife and kids.
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