Episode 9 – When To Start Hiring Your First Electricians/Helpers

This episode dives into HIRING.  When I chose to hire and why, as well as what dollar figures I had as a target before I made the jump to hire.

Hiring is perhaps the scariest part I’ve come across as a small business owner.  As a new electrical contractor I always thought there was some secret formula, or a “quant” figure that would show the math behind when I should hire.  After doing this awhile I realized that’s not always the case.

I knew what the dollars looked like, rather what I thought they SHOULD look like, before hiring a full time employee.  I had my mind set on $10,000 in the bank.  In comes Colten.  I decided to hire Colten once I saw that 10,000 in the bank but boy was it a rough time up until that point.  Working on your own, by yourself, in this trade is a very difficult thing to sustain.  When I started out I very quickly became far busier than I thought I would be, so I knew I needed help fast.  So for the first hire I just made the leap when the money looked good and the timing felt right.

For me the $10,000 figure worked out.  It wasn’t based off of a set time/expendature ratio or anything smart.  $10k just seemed like a responsible amount to have laying around in the event of an emergency.  My goal is to have $15,000 in the bank and hire a green helper soon.  This way my 3rd year helper can start training someone which will in turn skyrocket his own knowledge.  (Actually I already did this after the time of this recording – if you want to hear that listen to Episode 8 or watch it on YouTube by clicking here: Episode 8 – MID MAY UPDATE (Rentals, Facebook Ads, Organization, and Hiring)

My next goal is to have 6 months of all expenses saved up (including a Journeyman’s Wages for that 6 months) before hiring on a full time Journeyman Electrician.  Hopefully this will happen around the first of 2018.  This way I’ve got a good established crew with nearly a year together, so it will be a good transition into having a journeyman that can help lead the team.

Please SUBSCRIBE to my YouTube Channel as well as my podcast on iTunes and Stitcher – Just search Journey 2 Master.

Vlog: http://www.journey2master.com
Company: http://www.livewire-electrical.com

LISTEN TO AUDIO

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Episode 8 – MID MAY UPDATE (Rentals, Facebook Ads, Organization, and Hiring)

In this episode I show off the new fancy ride I’m stuck with for the next two weeks as well as talk about some of the things that have been going on since the last episode.

Well it just so happens that a few months back I got into a wreck in downtown Austin.  It was not my fault!  I’m an only child so nothing is ever my fault!  Ok, ok…it was 100% my fault.  I was following too closely and I know better than that.  I have a commercial driver’s license too, so any accident goes on my record and it’s not a good thing.  Regardless, I now have a Nissan Titan that winks at you!

I have commercial insurance so it wasn’t a big deal, but we’ve been so slammed for the past couple months that I haven’t had a single day off to take care of it.  Finally I took a day off and went to a local shop to get it taken care of.  They gave me a schnazzy new 2017 Ford Expedition to tear up in the mean time!  I got a call today that said it will take 2 weeks to fix everything lol.  So this poor expedition is going to be ripped to shit when I give it back to them.  Good thing I paid the extra “shit happens” insurance to Enterprise.

Other than that I talk about Facebook advertising, Home Advisor, Houzz, organization and structure to running the office side of things, and the decision I made to hire another guy.  Let me know what you think.

Please SUBSCRIBE to my YouTube Channel as well as my podcast on iTunes and Stitcher – Just search Journey 2 Master.

Vlog: http://www.journey2master.com
Company: http://www.livewire-electrical.com

LISTEN TO AUDIO

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