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 6 – Build It In Your Mind (The Importance Of Beating A Job On Paper Before You Put Your Tools On)

In this episode I talk about the importance of always keeping extra materials on you and building a job in your mind so you’re not wasting time driving back and forth to Home Depot or a nearby supply house.

Having to leave a job and spend an hour driving around hunting down materials means you didn’t plan well, and it can cost you big time when it comes to finishing jobs under hours as well as ensuring you can get on to the next job without running late.

Some of the best electricians I’ve ever seen have been guys that take time before a job to investigate every move and identify every problem they may run into before they even line their guys out on a task for the day. I’ve been told by the best “if you can beat a job with a pencil, you can beat every company in town.”

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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