Contractors, Make Your Job Obsolete - You'll Make More Money!Wednesday, July 17th, 2019
To make $200,000 per year, you have to do work that pays $100 per hour. If you, as the owner of the business, can pay somebody $15 per hour, $25 per hour or even $50 per hour, why would you do any of that work?
You have to refuse to do any work that would pay less than $100 per hour.
Many home improvement contractors get stuck doing the work. They do the sales, answer the phones, and install the work. They are working in their business, not on their business.
This limits the growth of the home improvement or repair business.
The owner who takes care of the bills, payroll, purchasing, sales, getting the work installed, and more, then you’ve limited your contracting business’s growth. If you’re responsible for everything, then everything has to wait for you to get to it.
You’ve made yourself an employee of the business and the business gets stuck. The business owns the owner, and the owner has a job rather than a business.
Reinvent Your Job, Continuously
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Instead, as owner, you need to reinvent yourself. Reinvent your job. Reinvent what it is you do every day.
You need to delegate all the jobs you are doing. You need to delegate all the decisions you are making.
And you have to reinvent yourself all the time. As the company grows, the things you need to do change. When you’re a 10-person company what you do will be different than when you’re a 40-person company.
If you continue to do the same things, then you will be the limiting factor for your business. You will be the bottleneck at the top.
Can a contractor get wealthy from their home improvement business? Absolutely. But they have to work on the right things.
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The School of Entrepreneurship teaches leadership to business owners of home improvement, repair and services contractors.