paul,
excellent post and great advice. ya know i been thinking about so much other stuff i kinda just put the biz plan on hold. I do need to do that though. the good thing about the market here is that housing is booming, of course the really unique and specialty housing isn't booming but the kind of housing that will provide me with the work load i need is crazy busy right now.
as it stands now, between now and March I have six complete houses to do, kitchens, baths, laundry rooms, the works. now the catch is if i don't go full time soon i will lose some of these houses. because it takes me 3 times as long to get a house done while working on the side.
i have a friend who is a builder who has committed to 4 to 6 houses a year. i am friends with another builder who does 30 to 40 houses a year. some which are really nice. i believe after doing a few houses for him he will have no choice but to use me from then on out. i plan to do my best to provide my customers with the best service possible. word travels fast around here, and it's either good or bad.
i am good friends with a cabinet maker (an ex-boss) who is so busy right now he can't keep up. he doesn't even advertise, nor does he even have his number in the phone book.
something alot of the shops around here do is hire big workforces to pump out more and more work. which creates bigger headaches and more overhead for the employer. i plan to stay small, mostly me and maybe my dad helping out. instead of hiring workers i will outsource to make things faster. i would rather do the work myself because i enjoy it, but the bottom line is i will be making the money to support my family.
i have a wonderful wife who has a very stable job as a nurse. she is very supportive about the biz and wants to see me succeed. so that helps a tremendous amount.
so to answer your questions, yes i do have a plan, is it on paper, no...but i need to do that. i like you am kinda jumping into this blind. i have no business experience. but i consider myself a pretty smart guy with a good bit of common sense. and since it is just me, that will make things much easier.
oh, one other thing i forgot to mention. when i started this whole idea, i made myself and my wife a promise, i would not put us our the business into debt to get started. so far my shop and all my start up tools will be paid for. and i plan to add equipment as i need it and as my budget allows. i want to be in a position where if something were to happen and i have to shut the doors, I could do it oweing no one a dime.
thanks again for waking me up a little. very good post and great advice.
that is why i love this site. thanks again to everyone who started this site and to all the wonderful people who make it what it is.
sincerely
chris
ps....no kids...yet