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Time management as a sole prop

Biff_Loman | Posted in Business on February 9, 2009 06:24am

As some of you might remember, I briefly dipped my toe into working as a sole proprietor. Unprepared financially, technically (not skilled enough) and psychologically, I yanked my toe right out and found a job before I started missing mortgage payments.

It’s funny. A year ago, I was very distressed because I felt like I was “almost 30” without much career progress. I hardly knew a thing about building until I was 25. I put so much pressure on myself, like it was “now or never.” With some on-the-job training, I’m an order of magnitude more efficient and confident now. And I won’t turn 30 until the summer of 2010. Hah.

Enough story-telling: I’m wondering how you sole props manage your time.

– How many hours a week do you devote to your business?

– How much of that time is spent returning calls, bidding on jobs – i.e. putting in time with uncertain reward?

– How much time do you spend on paperwork?

– How do you carry out all the mundane tasks associated with business: changing the oil in the truck, cleaning up your shop etc.?

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Replies

  1. jimAKAblue | Feb 09, 2009 06:49am | #1

    - How many hours a week do you devote to your business?

    All of it.

    - How much of that time is spent returning calls, bidding on jobs - i.e. putting in time with uncertain reward?

    Whatevers left over from "all of it".

    - How much time do you spend on paperwork? Too much

    - How do you carry out all the mundane tasks associated with business: changing the oil in the truck, cleaning up your shop etc.?  Procrastinate till the truck blows up. The shopt thing is easy: just move.

     
  2. alwaysoverbudget | Feb 09, 2009 07:12am | #2

    i'm not sure anyone can nail those numbers down. thats the downside of self employment,your on call with what has to get done,til it's done.

    i guess flexiable is the best description.

    self motivation is the toughest part. you finish a job friday at 1:00 pm [pick your answer]:

    1.stop by the local and have a few

    2.go get materials for mondays job

    3. go home change the oil in the truck,wash and straighten out the tools

    4. go home turn on judge judy and see some contractor getting sued,lear not to do that.

    the older i'm getting the harder it is to pick 2&3

     

    YOU ONLY NEED TWO TOOLS IN LIFE - WD-40 AND DUCT TAPE. IF IT DOESN'T
    MOVE AND SHOULD, USE THE WD-40. IF IT SHOULDN'T MOVE AND DOES, USE THE
    DUCT TAPE.

  3. DanT | Feb 09, 2009 01:14pm | #3

    There is no real answer for this one.  But whatever time it takes is what you have to give to keep it going.  Some weeks that was 80 hours and some it was 50. 

    I think small business is really only meant for the personality types that are basiclly lazy and don't care what they make or the absolute work-a- holics that can't live with not having most tasks finished before they quit for the week.  Some in between types make it but not many in my view.

    The first type do fine as they work for themselves so no one really knows what they do or what they make.  And they are content with that mode of operation.  So being in business suites them fine.  I can't tell you how many people in business (not just contracting) I have met that meet this description.  I know of a mortage broker who claimed to be working his butt off and when I worked at his home for a two week stretch the guy never left before 10AM and was home by 4 every day but one.  Tough life.

    Type two are the folks that stay at it based on getting a lot done no matter what and survive because of it.  They simply do more so they have to hire less.  Just my take.  DanT

  4. Hazlett | Feb 09, 2009 03:08pm | #4

    bif,
    I am not a good example of what you are looking for---

    but I run my roofing business pretty much as a seasonal concern..
    I plan to start back"full time" the week of april 6----and we will be wrapped up by thanksgiving-probably sooner for the season.

    for years and years i have tracked my hours religously----and it works out to 1000 hours per year or less-----about 300 hours to overtime, about 700 to actual production

    so-- with a system like that-- every hour has to PRODUCE.
    I am a compulsive list maker and quite oraganized and to make it work I had to learn to leverage the efforts of others.

    Personally, I do zero maintenace on the truck/trucks---- a garage handles all that no problem..
    most of my projects are quite similar to one another--- so organisation is simplified.

    EVERY night 365 days a year I make a list of what is to be accomplished tommorrow---personal/professional.

    to be fair-- I am never really 'off'-- even if I am running or biking-- I am usually thinking about how to do the next days list more effectively.

    also-- I go to bed at 9:00--up at 5:00 7 days a week, 365/year

    But the dailey list is key.
    stephen

    1. john_carroll | Feb 21, 2009 09:45pm | #26

      But the dailey list is key.

      I agree. I need a list. When I don't have a list, I feel listless.

  5. hmj | Feb 09, 2009 04:20pm | #5

    For me it is a constant battle to balance my time. Like most, I hate ehe paperwork and tend to put that off till the last minute ( doing last years quickbooks from a big box o' receipts is a January/Febuary ritual. Also, it took me a while to get comfortable with the fact that the business doesn't require my attention 24/7. First couple of years I was consumed by the business. Yesterday, when I "should" have been organizing tools, moving them to a new shed, I threw football with my 9 year old instead. Tools will always need organizing but kids are only young once.

    As others say, it depends on your business. Experience will teach you how not to waste time (or have others waste it for you); organization is key.

    One thing that I see a lot of guys leave out is setting aside time to learn/grow. Looking only at the next 2 jobs and not 5 years down the road. Which reminds me, time to edit my business plan. I have been easing my business towards home energy audits.

  6. wood4rd | Feb 09, 2009 07:23pm | #6

    That was the topic at one of our CE courses a few years ago. They say you are doing well at 20/80 for a sole proprieter.

      20% of your time is spent making calls, picking up materials, bidding, looking at jobs, etc.

    The other 80% is spent at the jobsite.

    Thats just an average, YMMV.

    1. User avater
      mmoogie | Feb 09, 2009 10:48pm | #7

      Biff,When it was just me It was simple. Throw together and invoice once every week or two, and scramble in Feb for taxes. I run mostly cost plus, so all materials running etc. is on the clock. Sales calls were minimal. Now that I'm running 2 other guys on concurrent jobs, it seems to take a least one day of each weekend.Steve

  7. FCOH | Feb 13, 2009 07:53am | #8

    I "work" probably 65-70 hrs a week doing whatever is needed to keep the co moving forward.

    Weekdays
    8-10 doing the actual labor
    2-3 on the phone scheduling subs, gathering info, picking up supplies
    1-2 end of the day paperwork
    Weekends
    Couple hours labor
    Couple hours to tie up loose ends and get ready for next week
    Estimates
    Organization

    I've really tried to slow down on the weekends.

    I guess you just find time to do the misc stuff.

    Doing the sales, estimating and bookkeeping isn't the hard part. Learning how to do it efficiently is. I spend way more time learning how to customize Quickbooks and my proposals to make them more efficient and professional than I to actually punching in the numbers.
    Who knew you could learn so much from YouTube.
    I'm hoping it all pays off. I figure in about 2 yrs I should have some good systems in
    place.
    There's slot of unaccounted for work and things you do for work with the wife and kid but IMO that's just being a small business owner.
    If you love what you do than it's not really work right?

    1. jimAKAblue | Feb 14, 2009 08:08am | #9

      Doing the sales, estimating and bookkeeping isn't the hard part. Learning how to do it efficiently is. I spend way more time learning how to customize Quickbooks and my proposals to make them more efficient and professional than I to actually punching in the numbers. Who knew you could learn so much from YouTube.I'm hoping it all pays off. I figure in about 2 yrs I should have some good systems in place.

      Systems is where it's at!

      What are you finding on youtube about your systems?

      1. FCOH | Feb 15, 2009 08:33pm | #10

        Im not finding anything on YouTube about systems. 

        I am learning how to use Microsoft Office alot more efficiently, Excel in particular.  For instance, creating a Gantt Chart(I call it a flow chart).  With each proposal package I include a breakdown of the job and the timeline to be expected.  Some might be only a couple of days long, others a couple months.  Either way it looks nice in the presentation and gives the HO a visual of the processes involved in their remodel and when to expect the project ot be completed. 

        Customizing QB to fit my company is proving to be a big time consumer for me. I had an accountant set it up for me but its not set up to match my needs perfectly.  Its set up to where I would be the GC and the GC only. Im trying to switch it over to match my projects where Im doing most of the labor, supplying materials with only a small amount of sub work.  Among a host of other little tweaks.

        But YouTube is like taking a 5 min class for free.  It really is cool that people spend their time makingthese little videos for novices like myself explaining the stepps to take to do certain things.

        1. jimAKAblue | Feb 15, 2009 09:02pm | #11

          I'm going to poke around youtube. Thanks

          Can you post your flow chart template? I've got several but I just can't seem to make them work the way I think they should.

          1. FCOH | Feb 16, 2009 01:16am | #12

            Check YouTube Gantt chart by rrphillips.

            First one here is of the currrent job we're on, a longer time frame, and the second is from a proposal for a bathroom I just gave a HO.

            Let me try this again

            Edited 2/15/2009 5:18 pm ET by FCOH

            Edited 2/15/2009 5:25 pm ET by FCOH

          2. FCOH | Feb 16, 2009 01:28am | #13

            I saved them in Excel 2007 format as well as Excel 97-2003 so open accordingly.

            File format File format
          3. jimAKAblue | Feb 16, 2009 04:53am | #16

            I opened the 03 chart ..Thank YOu. With a little effort, I'll figure them out.

            I did notice that you have the slowest rough carpenters on record though....100 days?????!!!!! What did you build..the Taj Majhal?

          4. FCOH | Feb 16, 2009 06:13pm | #17

            Easy Blue! HaI'm the framer. Me and a helper. There's alot of demo and misc stuff included in that time frame. It actually worked out well as the mechanical guys had many questions that I was on site to answer. It's a really nice project. I'll post some pics later if I have time. How's this, the mechanicals will be done this week but I can't schedule an inspection because we don't have an approved set of plans yet!

          5. jimAKAblue | Feb 18, 2009 03:39am | #18

            LOL...okay that's better.

            That's an interesting story about the approved plans. What are you doing..."build- design"? I think I've done it that way myself a few times.

          6. FCOH | Feb 18, 2009 08:40am | #19

            Actually changing of the guard in the city office.

            Submitted old plan to outgoing inspector who gave us an " Alteration" permit.

            Quick synopsis: 1500 sf ranch w 2nd floor over garage.  Demo everything except First floor floor and 50% FF walls.  12/12,13/12 roof sets on the new 2f deck.  I guess its a bungalow/ cape cod?  Anyway we have roof 50% done by the time new inspector shows up.

            Called for a temp pole inspection and the new guy shows up, looks around, leaves and calls a half hour later and says we are redoing way more than 50% of the house, which we are,  and says we have to get a "new construction" permit.  Submitted not very detailed initial plans(friend of HO doing it as a favor) so he nitpicks and needs us to resubmit the Encyclopedia Brittanica.  Finally after about 6 weeks the conveyance is done and we can resubmit. 

            Meeting tomorrow at 8:30am. 

            All the mechanicals are done. 

          7. jimAKAblue | Feb 16, 2009 04:46am | #15

            As soon as I posted, I ran to youtube and created a ghantt by following that Phillips guy. I then watched an English guy do the same thing but he explained the "whys" a little better.

          8. User avater
            intrepidcat | Feb 21, 2009 05:59am | #22

            there are some good videos on operating backhoes on youtube.

            they were kinda helpful

             

             

             Clean burning natural gas is the energy independence future of America. 

          9. jimAKAblue | Feb 21, 2009 06:28am | #23

            Backhoes? REally?

            When I had my junker, I loved wrecking things with it LOL!

          10. User avater
            intrepidcat | Feb 24, 2009 07:37pm | #27

            I saw one titled "how to undress a woman with a backhoe".

             

            They had a lot that were actually informative.

            Some just stupid, but that's youtube mostly anyway.

             

             Clean burning natural gas is the energy independence future of America. 

  8. husbandman | Feb 16, 2009 03:16am | #14

    Self employment is great. You can make a living, choose your schedule, and only work half time.

    Just pick any 12 hours out of every 24.

  9. thebozer | Feb 21, 2009 05:41am | #20

    Biff,

    If you can hire good carps and delegate responsibly, you can create a system that really "works" and not have to work the 60-70 hours per week that people here just assume is standard. I have 2 full time carpenters working for me... one is highly skilled, can make most decisions correctly without my input, and gets the job done. The other is a competent #2, who still has alot to learn but is completely trustworthy and very conscientious.

    They do 75% of the actual "work" while I, as company owner, do some carpentry, sales, estimating, project management, bookkeepinng, and business development. I would say that I work between 40 and 50 hours a week. I still find time to relax, have fun, and let loose. Life is too short not to... and I'm only 26. Been in business for 2 years.

    1. Biff_Loman | Feb 21, 2009 07:37am | #24

      I'm kinda like #2 in that mix.

      1. thebozer | Feb 21, 2009 07:12pm | #25

        not a bad place to be...

  10. User avater
    intrepidcat | Feb 21, 2009 05:50am | #21

    I try to work a little every day.

     

     

     

    Clean burning natural gas is the energy independence future of America. 

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