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Hi everyone,
Today I saw that I've joined this forum about 1,5 years ago (5th of March 2023) and I first want to thank @MJ DeMarco for creating this forum and his books! Since I've learned the fastlane lessons life has become better and I have improved in many area's. This thread will be dedicated to the progress of my plumbing business, advice in previous threads of mine have led me to starting this business earlier this year and it's growing steadily. That's why I thought it would be nice to keep a "diary" for myself and also share the wins and downfalls that come with starting any business.
At the end of 2023 I took on a job at an offshore firm, this seemed like the best job with my technical skills to get payed the most. I took this job as a "last resort", the payment would be about €3500 a month but I would be gone from home about 2 weeks a month. Once I found out that the job was not how it was told(good hotels and decent food turned out to be mobile homes and beer) I immediatly quit. Thanks to my dad who told me that if I wanted to talk big about becoming rich and being a entrepeneur I should grow a pair and start something with good potential and work hard.
I contacted my old employer to see if they had any interest in me working with them and if I could help them in any way(providing value). They had a decent sized project coming up replacing boilers and they did not possess the employees to finish this, this is where I saw a problem to be fixed.
My focus is good at the moment and I don't have the temptation to distract myself from this business, I fix problems as they come and try to grow steadily. I hope to finish 2024 with atleast a 100% increase in revenue from the beginning of this year, but this greatly depends on the next opportunity/project that I take on. I will come back to this thread from time to time when I have some "big" announcements. Thank you for reading if you did and I am glad to take on any advice/questions.
Today I saw that I've joined this forum about 1,5 years ago (5th of March 2023) and I first want to thank @MJ DeMarco for creating this forum and his books! Since I've learned the fastlane lessons life has become better and I have improved in many area's. This thread will be dedicated to the progress of my plumbing business, advice in previous threads of mine have led me to starting this business earlier this year and it's growing steadily. That's why I thought it would be nice to keep a "diary" for myself and also share the wins and downfalls that come with starting any business.
Let's start.
At the end of 2023 I took on a job at an offshore firm, this seemed like the best job with my technical skills to get payed the most. I took this job as a "last resort", the payment would be about €3500 a month but I would be gone from home about 2 weeks a month. Once I found out that the job was not how it was told(good hotels and decent food turned out to be mobile homes and beer) I immediatly quit. Thanks to my dad who told me that if I wanted to talk big about becoming rich and being a entrepeneur I should grow a pair and start something with good potential and work hard.
I contacted my old employer to see if they had any interest in me working with them and if I could help them in any way(providing value). They had a decent sized project coming up replacing boilers and they did not possess the employees to finish this, this is where I saw a problem to be fixed.
Q1 of 2024:
The first 3 months truly aren't that exciting. I had a lot of basic stuff that needed to be fixed(tools, basic lessons about taxes etc.). This was just 1 big learning process in which I learned the basics of entrepeneurship. The biggest problem I faced in these months was that my payments where hourly. This meant that I could replace a boiler in 3/4 hours and not have any work for the rest of the day(and get payed for half a day). I adressed this with the client and told them that I wanted to go to new construction since I could work full days there. Of course since they did not have anyone to finish the project they decided to give me prices per boiler, now things started to get better. At least if I only did 1 boiler a day I would get payed for a full day, this was a cool experience.Q2 and 3 of 2024:
After this my monthly revenue grew by about 25% and my costs went down, this allowed me to build up some nice savings in my account and plan ahead. Most of the days were just me working, going home, reading and going to bed to repeat it all the next day. I had some small clients that would get my attention in the weekends to build a good reputation in the area. Since last month I have started to work towards bigger things. Last week I "hired" my first employee from a employment agency and my first impression of him is good, right now this will make a decent dent in the profits but it allows me to finish the boiler project sooner and move on to better payed projects. I'm trying to play this for the long game. Hiring someone felt like a very surreal thing at age 22 but also cool to have this responsibility of paying someone's salary and the need to ensure him of enough work.My focus is good at the moment and I don't have the temptation to distract myself from this business, I fix problems as they come and try to grow steadily. I hope to finish 2024 with atleast a 100% increase in revenue from the beginning of this year, but this greatly depends on the next opportunity/project that I take on. I will come back to this thread from time to time when I have some "big" announcements. Thank you for reading if you did and I am glad to take on any advice/questions.
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