HOW TO STOP TURNING WRENCHES (AND GROW YOUR BUSINESS)
Time is finite and, when you absorb all the roles in your company, you’re spread too thin and likely not doing any of the tasks well.
BY PATRICK LANGE AND MICHAEL SCIROCCO
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ost HVACR businesses start with an ambitious and talented technician that dared to take the leap and open their own shop. Somewhere along the way, they will get frustrated and realize their income is capped by the hours in the day. One man working for an hourly rate can only bill so much. The more lucrative route is to lead the business and other technicians by being a true CEO. Understand that time is finite and despite your best efforts, you can’t do it all.
The reality is, if you only make money when you are billable, you don’t have a business, you have a high paying job. When you are in the field doing technician work $45 net per hour x 2080 work hours in year = $93,600 owner benefit When you have 5 technicians working for you while you manage as the owner $25 net per hour x 5 technician x 2080 work hours per year = $260,000 owner benefit
When you absorb all the roles in your company (salesperson, technician, bookkeeper, and procurement), you are spread too thin and likely not doing any of these tasks well.
Other than the take-home pay, there’s another benefit too. Your business becomes sellable.
Instead, set a goal to get out of the truck and train others your way of doing business. If building a business and making more money is your goal, consider this simple math example.
The ‘one guy and a truck” business is nearly impossible. The reality is, if you only make money when you are billable, you don’t have a business, you have a high paying job.
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HVACR BUSINESS MARCH 2020
It’s okay if that’s what the business owner wants, however, understand when you go on your last service call someday, at the end of your career, that’s it. There’s no payday at the end. Buyers are scared off from a business like this because it is never big enough to attract a substantial interest, and customer relationships are in danger of evaporating if the previous owner isn’t servicing them post-sale.
they are the best technician, with the best customer service skills and nobody can do it as they can. And they’re probably right. Thinking like an owner is much different than making decisions as an employee. You must move beyond this mentality, however, and understand that there are plenty of other capable people that can do the job just fine. The key is to train them in your shadow and follow through on your companies promise to customers.
HAVE FAITH AND LET GO Being the sole breadwinner for your company can be exhausting when others are counting on you.
TRANSITION FROM TRUCK TO OFFICE
Eventually, you will burn out because it’s not a challenge anymore.
Transitioning from the service truck to the front office is among the most difficult things to do for a growing business.
By not growing behind ‘a guy in a truck’ means you’re limiting your personal and financial potential. Be willing to get out of your own way.
Almost always the owner feels like
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