I just completed my first year for my own business with just me as the grunt, secretary, and owner all wrapped in one. I started with a variety of hand tools and had a truck. I bought an air blower to begin with and that's about it. I wanted to get a dump trailer or a dump truck, but the wife and I just poured all our money into a new home (that still hasn't been landscaped yet..HA!). I read alot of books before starting my business and came up with a business plan. The problem that I had with the business plan--was that it was hard for me to set goals monetary wise because I barely took any business courses and have never ran a company before. I wrote up my business plan the best I could and tried to think of every scenario and what I would do or handle the situation. I then jumped into it in the Spring and played it safe--I split my salary, half to me, half to my business. I'll be honest here..I charged $30 an hour...so I wasn't making alot of money. I'm so glad I did that though. I had a very comfortable blanket for all the taxes and things that came up that I was sorta feeling my way through.
I made some good relationships with some nurseries and pond supply places. I usually got everything delivered that I needed (unless I only needed a few yards of mulch or dirt). This saved me time since I'm by myself and I could spend more time on the project. I also got subcontracted by two different landscape companies--mainly for ponds. I was nervous as hell about that, but analyzed everything and made sure I didn't get screwed over. I now have a SUPER relationship with one company and they even provided me a little winter work building a indoor pond for a retirement home. I feel alot more comfy getting subcontracted now.
We had a very hot summer here in PA so business really declined for me...but since I've finished my first year, it has now given me some things to work with for my business plan. I believe a business plan is something that should be looked at all the time--not just do once and forget about it. I've learned ALOT my first year and I know I still have alot to learn. I can now make some reasonable monetary goals...I'm starting to learn how I can bid better (actually did pretty darn good! only lost 20$ on one job--the rest, made some). I'm also going to be charging more.
My advice...don't worry about being the small guy out there. Start small. Anaylze your projects once you have completed them--what could you have done different to save money, make more money, etc. Before buying a new tool or truck, ask yourself if you really need it. I bought a bededger this year and plan to buy a sump pump and hose (for my new pond cleaning/mainteance program). Do I still want a dump trailer?? yes! would save me time and my back...but will have to wait maybe another year. Getting things delivered has worked fine for me so far and I plan to use my money more for advertising since it will be my second year.
Finally, (and sorry for all my rambling, hopefully I'm helping) one of your goals should be to commit to running your business for at least 3 years. Give it your all if you enjoy it, then analyze it and see if its working. It's going to take time to get your name out there. Congrats on attempting one...it's alot of hard work, and yet..the work is sorta fun (at least for me) when you are the boss.
Alot of responses so far have stressed the importance of the business plan and goals...I guess I'm saying, yes, it's important, but if you are somewhat clueless like I am
, it's ok to start slow, protect your business with a money blanket, analyze everything...get your first year done, THEN look at your business plan and set goals when things make more sense.