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H
Homer J Simpson
- Original Poster
- #26
Just finished a £4,400 job. Over-ran by several weeks due to incompetent plumber
Job really wasn't worth doing in the end, small margin. How's everyone else doing?
Job really wasn't worth doing in the end, small margin. How's everyone else doing?
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Turnover is vanity, profit is sanity and all that.... bigger jobs mean more staff, more overheads, etc, MORE STRESS haha.
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Depends on the industry, out staff, overheads and stress have remained the same since we started.
But turnover is very much for vanity, profit margins are what matters.
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H
Homer J Simpson
- Original Poster
- #34
Yes, but there is usually more profit, maybe not as a %, but as £.
Had a recent job for around £4k, ended up losing around £400 on it. Should have walked away from the beginning when we didn't get our rates. Work was slow so we took it on. All it did was waste time and cost us money, both of which could have been used to find & win better and more profitable jobs.
Who'd want to run their own business eh? Oh yeah, us lot of loons!
Had a recent job for around £4k, ended up losing around £400 on it. Should have walked away from the beginning when we didn't get our rates. Work was slow so we took it on. All it did was waste time and cost us money, both of which could have been used to find & win better and more profitable jobs.
Who'd want to run their own business eh? Oh yeah, us lot of loons!
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Yeah the big jobs can make some decent money, unfortunately it's just as easy to lose it sometimes, especially when a contractor does a bunk with £80k of your hard earned, but this year we are absolutely on fire, we have a couple of big jobs at £120k+ each running simultaneously, but the £3-10k jobs are were it's at right now for margins.
The big jobs are great and make big profits but usually spread over 6-12 months whereas we can usually get 10 x 10k jobs done in a month with higher margin % - to do so means needing more people to do it, manage it etc. It is however lower risk and usually better for cash flow.
I only mentioned the stress as we're growing rapidly again and haven't grown the management side just yet so it's rather busy. There doesn't appear to be as much skilled labour around anymore either, I read an article last week about a top London firm that were turning down £1 million of work a week because they couldn't get the staff for it. Crazy.
The big jobs are great and make big profits but usually spread over 6-12 months whereas we can usually get 10 x 10k jobs done in a month with higher margin % - to do so means needing more people to do it, manage it etc. It is however lower risk and usually better for cash flow.
I only mentioned the stress as we're growing rapidly again and haven't grown the management side just yet so it's rather busy. There doesn't appear to be as much skilled labour around anymore either, I read an article last week about a top London firm that were turning down £1 million of work a week because they couldn't get the staff for it. Crazy.
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Im not quite at the £200k level, but Ive turned down about £3-4k...
I really hope someone quotes mine and puts £200 or something now
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Like a lot of companies when you first start doing business with other people you don't really know what they will be like to work with. Over the past 12 months we have been getting rid of our C/D class clients and working hard to retain the A/B ones.
Seems to be working as we now only have clients left which we really like working with, so stress levels have gone right down.
I really hope someone quotes mine and puts £200 or something now
Lol
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