Jan 04 2008
Sole Proprietor Survival Strategies
It is a fact of life that we all get older and along with getting older we face the deleterious effects of aging. Particularly in construction, the knees, wrists, forearms, elbows, shoulders and feet start to rebel if we tax them too much.
The truth be known we own most of that. For years we didn’t warm-up before beginning work, we didn’t wear knee pads and we didn’t ask for help when picking up or carrying heavy things. There were many times when we used the wrong tools for the job because that’s what we had handy and we often didn’t bother with ear plugs, respirators, safety glasses, dust masks and gloves for that matter. We just forged ahead and got the job done.
Now, many of us are feeling the pain and we are not alone. The U.S. is entering a prolonged period the likes of which has never been seen. Various estimates report the “birth bubble” that occurred between 1945 and 1964 produced 76 million children that today account for 28 percent of the population. We are referred to as the “baby boomers” but there’s nothing baby and certainly nothing booming about us anymore. We’re just getting older and various types of people are trying to figure out how to sell stuff to us and pay for the staggering health care costs that are coming down the pike. Meanwhile huge numbers of us are still working but looking down the road and wondering what retirement is going to end up being like.
Construction business owners who have always kept a tight rein on company control are beginning to ask themselves, “What’s next?” And the answers just aren’t coming. If you spend some time reading the construction forums you’ll come across many posts where the one-person owner who’s feeling the pain is glancing around and not seeing anything golden about the upcoming years.
Of course it doesn’t have to be that way. Once we ‘fess-up and take ownership of the corners we’ve painted ourselves into we only need to wait for the paint to dry and then step out. The fact is that what we did in the past is just that. What’s more important is what we do now. So, without further delay, here is my list of things the sole proprietor can start doing today to make a brighter future. Each of you has to take it from there and figure out what direction you should go in.
- If you love what you’re doing, then keep doing it. Find ways to ease the burden of things you are finding to be more challenging. Suppose you decide that what you need is a helper. Think about the things that person could help you do, feel what it would be like to NOT have to run down three flights of stairs to get something from the truck. Fix that in your mind and pay close attention as you go through your days until the perfect person shows up. Then, hire them, pay them fairly, treat them well, and feel how great it is to not have to take the generator out of the truck all by yourself. If you hate book work then outsource the books. The time and energy you save will come back to you tenfold in new business because you will be focusing on the things that you do best.
- If you are weary of what you are doing then select a time when you can most afford to put things on hold. Do some creative scheduling so you open up a window of opportunity for two weeks away from the business, and then get away. Even if you just stay home, watch TV and go fishing, take some time to feel what it’s like to NOT be building. If after two weeks you’re feeling antsy and you have renewed vigor then take the advice above. Instead, if you are feeling uninspired and don’t want to get back at it then start planning for a different future. Take account of all your skills. Consider older skills that you haven’t used for awhile. Think about what you would rather be doing. Don’t let what you’ve been doing become the ONLY thing you can do. Then, imagine doing the new thing, feel what it would be like, and step out of that corner you’ve been in. Above all, banish fear and assume (know) you will succeed.
In the coming weeks there will be more on this topic. When you visit check out the new category “Fourth Quarter Strategies.”
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