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The Road to $3 million Part 1: Why bother?

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Forty years ago, the day after the boat yard where I apprenticed went bankrupt, my boat-carpenter f

riend and I announced to nobody in particular that we were renovators. It was that simple. Soon after, we’d heard a friend of a friend needed work done. We provided a ridiculous price, ignored the need for a permit, and were off and running.

I’ve learned something in the years since. I learned that working for cash places you on the margins of society. I learned that selling comfort and peace of mind is more important than selling bricks and sticks. I learned that life is brutish and short, and commitment to a vision is not everything, it is the only thing.

If you can build, getting your gross income to $300,000 is not that hard. Renovation contractors with up to $300,000 in annual sales typically do a large portion if not all of the work themselves. This includes finding customers, doing estimates, demolition, material purchases, construction, final touches and collections. Although they may hire sub-trades for specific components such as electrical, plumbing, or drywall, most projects are completed alone. That means a rigorous work schedule, long hours, lots of risk and never having work beyond three months.

It’s no way to live. Does this sound like you? More important, does that sound like Future You? If it does, I recommend you change your mind about your future and plan for something bigger. Why not try, say, $3 million gross in five years? Or 35 percent gross profit in three? Or 15 percent net soon? Really. Why not?

There are actually a lot of good answers for “Why not?” It means stretching yourself. It means working when you don’t want to. It means having a vision for something bigger and not letting it go, even during the times when it looks impossible.

So, answer honestly for yourself. Write your answers to “Why not?” down. Here’s what you might have written:

  1. I am too busy as it is. How could I run a company 10 times the size?
  2. I don’t have the knowledge to run a larger company.
  3. I am good at building. That’s it. I want to stick with what I do well.
  4. I don’t want the headaches.
  5. I don’t have the money I need to invest in growing my business.
  6. I don’t have enough money to grow properly.
  7. I don’t want to work that hard.

These are all good reasons to not grow your business. If you are comfortable with those answers, close this EBook, and get on with your life. You have a job. You’re busy. All good.

BUT, if it is not enough for you, I can give you the tools to get there. Keep reading and we’ll come back to the question and your answers in the prologue. Now, let’s get on to visioning a prosperous Future You.

In part two, we’ll get started on the four areas of business that will need your immediate attention.

Do you want to take your business to the Next Level?