Learning to run a business properly

I'm new to the whole entrepreneur thing, and I really want to make it work. So I'm wondering what I can do to speed up the learning process. Between my full-time job of 50+ hours per week, the part-time business, and the family at home taking courses isn't an option right now. I think I'm pretty much limited to internet and books.

I love to soak up new information and love to read. What are some of the best books that you've come across on the subject? I've read/listened to Entreleadership by Dave Ramsey, but that's about it so far.

So how did you experienced business owners learn what you know? What do you recommend?

twoguyswithmowers said:

I'm new to the whole entrepreneur thing, and I really want to make it work. So I'm wondering what I can do to speed up the learning process. Between my full-time job of 50+ hours per week, the part-time business, and the family at home taking courses isn't an option right now. I think I'm pretty much limited to internet and books.

I love to soak up new information and love to read. What are some of the best books that you've come across on the subject? I've read/listened to Enter leadership by Dave Ramsey, but that's about it so far.

So how did you experienced business owners learn what you know? What do you recommend?

Click to expand...

Thing is books are fine but you learn more by doing. Your not going to speed up the process because building your business or any business is a slow procedure. Two things you need are a license or tax receipt and a good book keeper to keep your records, do your taxes and billing. You build the business in the field by the job you do.

Thanks for the reply. I understand that you can't learn everything you need to know from books, but surely it can help the learning curve. There has got to be some good info out there that would benefit a new small business owner.

twoguyswithmowers said:

Thanks for the reply. I understand that you can't learn everything you need to know from books, but surely it can help the learning curve. There has got to be some good info out there that would benefit a new small business owner.

Click to expand...

Take it one step at a time. Research marketing techniques. And make sure you know what you are doing before you do it. You are going to mess up, how you deal with your mistakes and how much you learn from them is what's going to make you a success

Ric is dead on, it takes years to establish a business. Especially a lawn care business, word of mouth is your most powerful marketing tool, Facebook, flyers, ect are important but the not the end all be all. I started with a push mower and desire. Knock on doors, but be careful not to low ball. Be bold call a LCO in your area thats larger and more experienced find out what they're charging, and stay close to that. You don't want to compete with the guy running 2,3 or 4 trucks. He'll push you out before you get started, he has a huge customer base and tons of experience and a good reputation in the area.

Take it slow learn as you go we've all made mistakes. Growing takes a little working knowledge and a lot of hard earned money one customer at a time. Start by getting insured and a business license. Go out and get some work you'll learn what works best for you

I will throw it out there that our business is registered but we do not have insurance yet. I am doing the bookkeeping right now with Quicken. I've got the basics of it, but I plan on doing some online training. I'm more wondering about the day to day things about running the business. What kind if files and records should I be keeping? How much cash should I be shooting for to keep as retained earnings? Do you save for equipment purchases or finance a little at a time? What an I not even thinking of?

I don't finance anything, i will do any large equipment purchases in November-December. That'll help with taxes even if i don't pick up until spring I'll pay for it in November or December if that makes sense. I've tracked everything to how much each crew of 2 cost by the hour down to the penny. I know their hourly wage, how much fuel the mowers should be using, how much the truck should be using, how long tires should last at the given usage rate on mowers, trailer, and truck. $44.60 is approximately what we have to make an hour to break even. But i didn't get all that my first week in business.

It was 5 years at least until i could comfortably bid jobs competitive. Now i am the most expensive lawn care company in the area and choose my customers. We sell quality, cleanliness and reliability to get the jobs.

You'll get there just take it one step at a time, breath and relax. Build it without owing and money bank and you'll appreciate it more.

TaskForceLawnCare said:

I don't finance anything, i will do any large equipment purchases in November-December. That'll help with taxes even if i don't pick up until spring I'll pay for it in November or December if that makes sense. I've tracked everything to how much each crew of 2 cost by the hour down to the penny. I know their hourly wage, how much fuel the mowers should be using, how much the truck should be using, how long tires should last at the given usage rate on mowers, trailer, and truck. $44.60 is approximately what we have to make an hour to break even. But i didn't get all that my first week in business.

It was 5 years at least until i could comfortably bid jobs competitive. Now i am the most expensive lawn care company in the area and choose my customers. We sell quality, cleanliness and reliability to get the jobs.

You'll get there just take it one step at a time, breath and relax. Build it without owing and money bank and you'll appreciate it more.

Click to expand...

I have to make 12 an hr to break even.

twoguyswithmowers said:

I will throw it out there that our business is registered but we do not have insurance yet. I am doing the bookkeeping right now with Quicken. I've got the basics of it, but I plan on doing some online training. I'm more wondering about the day to day things about running the business. What kind if files and records should I be keeping? How much cash should I be shooting for to keep as retained earnings? Do you save for equipment purchases or finance a little at a time? What an I not even thinking of?

Click to expand...

TaskForceLawnCare is right don't finance anything. The other advice I'd give you is DON"T BRANCH OUT. Find a sub-division , a large sub-division and stay there, build your business within that area. When I first started I was all over the place, six different subs and although I was making money I was spending it on the road driving and pulling a trailer. The problem was I was spending more time driving than working. I stayed in the sub-division I was living in and built my business, I now have between 70 and 80 clients weekly and add atl east 2 a week and there all within 2 miles from the house and it save a ton of money for gas and I spend more time on the mower than in my truck. I'm averaging $50 and hour on my lawns. If you stay in one place your reputation will grow faster and I would suggest you find a book keeper because once you get stated and your Reputation grows your not going to have time for recording keeping and billing. As I said before and as TaskForceLawnCare said let it come to you, take your time don't be in a hurry it takes alot of time to build a business the right way.

Growing a business takes time! I can recommend you two great books that reveal secrets. They have been recommended by a very big bussiness man that I have known for a long time. The first book is Focus and the second one is How to get clients. If you want, I can give you the author name of both books.

Like most persons say, take your time! It took me 7 years to be now able to work full time! I started mowing with my dad's mower and a crappy electric trimmer. I had only 4 lawns. Now, I have about 40 clients and add a 10 more clients that go on vacation and need my services for watering, mowing... I also own a truck, my own gas mower, trimmer, blower and all sorts of tools. I remember when my parents use to bring me to my clients with there car! Now, I am with my truck driving everywhere around town with my employee. If you do things right, you will keep your clients and every year, you will keep them and have more, because they are going to refer you to there friends and familly and others in the neigborhoods might want your services. Then again, that is time. So, keep doing a good job and you should be on the right track! Dont let the competitors squish you! Go out there and show them what you can do!

A final thing, your prices... Now, you need good prices to attract clients! Don't go too low and don't go too high! Be in the middle so that you attract people. And don't make your prices based on the forum here. The guy here that charges 50$ an hour for mowing lives in FL where the rich are so he can jack up his prices. So, keep that in mind! I am not being mean here! I am just stating a fact!

I can probably give even more advice, but I am going to stop for now! My dad has his own company for 25 years and I have known very good business men in my life! So, what I am saying is not stupid!

P.S. Sorry for the crappy English, my first language is French.