I once knew a man that owned a very successful siding business. One day I overheard one of his workers asking him why he never did any siding himself. The man replied by saying he didn't know how. The man then continued by explaining that although he didn't know how to side a home, he did recognize that people would pay for the service so he invested his money into equipment and hired workers that did know how to do the job. In under ten years time he had built a multi-million dollar a year company. He didn't start off with a fleet of trucks but prior proper planning helped him build his dream.
Another company, founded in 1947, that started with just one man, one vehicle, and a good business plan is Stanley Steemer, one of the most recognized names in carpet cleaning today. In 2003 their total sales topped 300 million dollars.
Both businesses mentioned above are proof that you can do anything as long as you have a plan. I just know someone is going to say that you need funding as well so I will refute that by saying if you don't have the funding, the first part of your plan should answer the question "What can I do to get funding?" In my case, I want to be involved in land development but that cost is high so I bootstrapped my business as a way to start saving money to invest. As long as things continue as they have been, I will be able to start my first real estate deal within another 2 years. With proper reinvestment of funds, my projects and net worth will continue to grow. I'm right on track as far as my plan goes. I do what I have to now so that I can do what I want to later.
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2 comments:
I think it's just as important to know your business inside and out, as it is to have a plan. The millionaire in the first story relied on his employees to help him with his siding business, but I think to truly enjoy your work (not just make money) you have to be really familiar with it. He only knows the "paperwork" aspect of it, and could probably start a business doing anything he wanted. I wonder why he chose siding among all other things out there.
i simply agree. i think as long as you hold on to your dream, you can achieve it no matter what. i still think its not the funding, etc thats hard part of a business, but the planning
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