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Just bought a business.

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Myname posted 7/26/2014 10:43 AM

I just bought a small landscaping company. It's only about 20 accounts and not all are weekly cuts but it will add a few bucks to my paycheck and hopefully get me just enough this year to reach one of my financial milestones that I've been working towards for the past 4 years.

The really exciting part of this is that 2 of the lawns are in a highly secured gated community. It's a very well know community to people in this area and is considered the premier community in this state for sure.

I've wanted to get into this place so bad for about 4 years. I can't believe I'm finally there. The previous business owner is going to mow all the yards the first time with me this Thursday.

I don't know how I'm going to handle going into that place for the first time. Knowing myself, I'll probably just shut down emotionally and do my job then get excited about it later that night.

See, there are some advantages to me shoving my emotions down.

nowiknow23 posted 7/26/2014 10:51 AM

Congratulations, MyName!

movingforward777 posted 7/26/2014 11:07 AM

Congratulations!! It could really build into something much larger considering the type of clients you will be working for (lazy bums who don't like to cut their grass....just kidding)
I would love to have someone come on a regular basis and cut the grass/weed whack....but it's also good to get out there and do it yourself.
As for the "emotions"...you can do it...and you have every right to be excited whether it is when you are there working or later on! Do it with a smile...people will notice you love your work!

FaithFool posted 7/26/2014 12:01 PM

That is fantastic. Good for you!

Amazonia posted 7/26/2014 19:31 PM

Good job!! Do you have enough man power to cover it or are you hiring more staff? You just had to let one guy go, right?

jo2love posted 7/26/2014 20:08 PM

Congrats!!! That is wonderful!

Myname posted 7/26/2014 20:15 PM

Thanks guys.

I have two guys working for me right now which is enough but one of those guys (the new guy) isn't working out. He asked for the week ago Friday off the night before. I didn't need him so it was okay. Then no show the following Monday and didn't show this past Friday. Oh and just to add, this guy wants more hours. Ummmmm... Hey stupid! Show up when you are scheduled and you'll have more hours.

So I'm looking for another person again.

LosferWords posted 7/26/2014 20:38 PM

Congrats, Myname!!

Best of luck on finding a new person to fill that spot, too. What a freaking dork.

heartbroken_kk posted 7/28/2014 02:58 AM

congratulations!

You will do great. And it will give you motivation to upgrade the quality of your staff at the same time.

Remember that building a business is not a linear process. Enjoy this moment as you work with the old owner to take on his accounts.

But expect a few hiccups. You might lose an account or two or find not all is rosy behind those gates. Take it in stride. Be open to what this opportunity can do for you but also take care if it comes with a disappointment or two.

Also, you never know if this could launch you even further forward. Be curious about what could be!

Don't forget to exercise to settle your mind, OK?

Pentup posted 7/28/2014 08:25 AM

lynnm1947 posted 7/28/2014 08:49 AM

Excellent!

TrulyReconciled posted 7/28/2014 09:31 AM

Congrats!

Landscapers are not appreciated enough!

norabird posted 7/28/2014 09:49 AM

Congrats!!!

Bigger posted 7/28/2014 21:59 PM

Congrats! As a former small-business owner I can really appreciate the excitement and hope you have for your business. Some business advice:

Be very clear on your costs…
You would be amazed at the number of small-business owners that aren’t clear on this! They make offers or give prices with no clear picture of whether they are making money or not and have to rely on their accountant to tell them if they are in the red or the black. Know your costs, be clear on your lowest margins and work from there.

Learn to understand accounting and bookkeeping.
Not saying you need to do the books yourself but you should definitely understand the numbers and make sure you are up-to-date on your financial situation. If you have someone else do the books then CONFIRM in person on a regular basis that the bank account is in order, that taxes are paid and so on.

Learn to sell and do the sales YOURSELF!
Most people hate selling and you might think getting a salesman enables you to do other more “fun” things. That is – until the guy getting the jobs into the company gets a better offer and leaves… No – in small business it’s best the owner sells.
I’m guessing that as a small landscaping company you think you don’t have time to sell so add it into your daily routine: Knock on the doors of the houses along the street you just finished a job at. Leave brochures and cards. Ask your customers to refer you to their friends and neighbors (could even offer them a one-time discount for every successful referral).

When you sell a job then make sure the payment terms are clear.

Invoice as soon as you can.
Many small business owners fail on this. They think they can work all week and then do invoices on a Friday evening. Do this and chances are you will forget to invoice some jobs plus you get payments later than you could if you had invoiced same-day.

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