[cutntrim]

Wasn't sure where to put this thread, but how was your '05 if you had to quickly summarize?

For me:

Gross sales were up over 2004 and so was Net. However, my Net was still not as high as in 2003. Conclusion: I was over-equipped and underworked in '05. I'm going to make my Bobcat available (with an operator) for other area landscape contractors by way of subcontract work, because frankly I'm not generating enough installation leads/sales on my own yet.

In addition, I'm planning to spend more time in the field by automating and delegating as much routine office work as I can. I no longer want to be an overpaid office clerk. This should help, both by eliminating wasted time (mine) in the office, and reducing labour costs in the field. (Funny how productivity increases when the owner is on-site.)

Personnel-wise the year was good as far as retaining and finding decent employees. Equipment-wise no major breakdowns. Health-wise I (and the rest of the crew) were pretty good.

In general terms I'd say my year was "not bad" or "pretty good". I wouldn't characterize it, however, as "great" or even a solid "good". I'm on the right track though and it's a long game, so I'm looking forward to a profitable 2006.

[mrgreen_perth]

Hey CutnTrim

Good to hear feedback and a good honest assessment of the year just gone.

My part time business went full-time halfway through 2005.

Plenty of work, lots of referrals and leads with bookings (with deposits) 2-3 months in advance.

At the start of the year I had an equipment wish list and I hit them all in 2005 (though some only in the last few days of '05). Machinery I had been hiring like tub saw, trenching machine and irrigation valve location/troubleshooting equipment - I now own. Along with a big trailer to drag it all around in!

I also employed my first person late this year as well.

Now it is a matter of growing things further in the year ahead. Looking forward to hearing lots more great business ideas and tips on GTX.

To everyone who reads this- Have a great 2006.

Tony

[capeholedigger]

I feel pretty good about this past year as well. Havn't totaled up the numbers yet, but took a plunge and bought a Bobcat mini excavator in Jan. for one job, pairing it with my 18yr old Bobcat 843, hauling them with my pick up. Move ahead to today,the Bobcat "stuff" is gone, there is a Isuzu NPR dump, Ford F800 dump, brand new Kubota 161, 2003 CAT 257. All are making money and working almost everyday. Also have had steady employee since the June. I know Gross sales were around $215K. Lot's of expenditures but now focus on continued sales and productivity. I have to say that sites like this have helped me dive into paver jobs and other types of new work that I forsee being profitable. Thanks to everyone.

[VoodooChile]

Personal issues dominated our season: a terminally ill father, a son who presented with Type 1 Diabetes, sending 4 kids off to public school for the first time, building and moving into a great new house, and selling/parting with the old one.

Fortunately, our two full-time employees rocked, we added several part time helpers, and a new field person in Spiderlilly, and did record gross and net. One very sweet new account was added to supplement several existing estates, and we tackled projects of complexity and cost that were new to us. Financially and professionally, we had a great year, if only we hadn't blown every dime on a new shack!

Without doubt, a great part of 2005's success was due to the folks who post on GTX, which fuels confidence that we are poised for growth with profit in 2006.

[jwholden]

I posted a thread about being overconfident in the Gold Oak section and that would just about summarize my season. I am in the phase of running the business where I need to systemize things and have set routines of how I will approach tasks.

My gross dropped off about 20 % from last year. This drop was not because I did less work than last year, but because I didn't take the time to accurately calculate what was involved to complete the job. The jobs I have been taking on are growing in size, and any mistakes I make in estimating are being multiplied many times over.

I also fell into the trap where I saw money on the table and threw in too many 'free' extras for my clients. "Sure, we are at your house anyway, I'll throw in planting that patch of lawn for you because you are such a nice customer." Nothing is free, someone has to pay, and last year it was me and it was my own doing.

The phone calls came in for new work and I didn't have the energy to pursue the new leads because I didn't know if I was going to make or lose money on a job. It seemed to me that all jobs were going to be losers, so why bother.

I got fed up with dealing with tire kickers, they suck the last bit of life out of my body at the end of a long day. I have changed my answering machine message and approach to try and dissuade them from wasting my precious time.

Finally, I made a some mistakes in my bookkeeping methods with quickbooks and I have been sorting through the mess trying to straighten it out (with a CPA at $85 an hour). Never change the date on invoices, never use inventory items unless you run a physical inventory at the end of the year, and make sure you 'close your books' at the end of the year to keep mistakes from compounding.

There is good news, I have learned from every one of the above experiences and they will not happen again. Below is my list of winter projects.

I have been reading up on how to go about estimating jobs. I am extremely happy to have found some excellent references to work with.

I am taking the time to redo some 'forms' and procedures I will use next year. I will focus on a design agreement so I have financial motivation to create a design, other than the joy of giving away my knowledge. I will also focus on a procedure to track hours.

I have instituted a mandatory charge for meetings with new customers which will assure me that anyone I meet with is serious about the project.

I upgraded to QB Premier Contractor 2006. I am going to toss out my old books and start fresh this year. I have been reading the manual and making sure I have a system in place to run my books.

Also, I bought a Dingo last year, I love that thing and couldn't imagine life without it. When my employees started to go sour last year the Dingo literally saved my ass (can I say that?). I don't mind physical labor, but I've got better things to do than walk with a wheelbarrow. The dingo took the 'wasted' walking and made it productive, easily replacing one employee and allowing me to keep going by myself at the end of the season.

I love this business.

I couldn't imagine doing anything else.

In 2006 my focus will NOT be on getting a ton of work, it will be on getting enough work at the right price to meet my financial needs.

[cutntrim]

JW: Been there, done that as far as accounting screw ups. Several years ago, ended up having to pay an ADDITIONAL $14,000 in back taxes on top of the normal taxes for that season. All my (and my partner's) fault, but that was not the most profitable of years. What I did learn was to A) Stay on top of tax remittances no matter what, and B) Leave the quarterly and year-end reconciliations to my bookeeper and my accountant as they're much more qualified to do that stuff!

P.S. I hear 'ya on the underestimating of costs/time as far as installation projects go. It's an ongoing learning process and logging in on this site definately helps out.

Voodoo: Sounds like your '05 was both good and bad. Hopefully the good outweighs the bad in '06, and it is a less tumultuous year this time around.

[HardDaysKnight]

2005 was very strange for us. The numbers were up from the
past few years , but how is a head scratcher. The tons of $ we
spent on advertising in local papers, paid for the ads period.
Calls from references from recent, happy customers and
calls out of the blue from 3 year old estimates made the
most money. I didn't believe in Door hangers and now I do.
When we have a man standing around...He's going out in the
area with them. They work.
JW- You have improved your game dramatically. It was only
6 months ago when you seemed rattled with business woes.
Now you seem to be in total control and clearly ready to
kick some butt( can I say that?).
Your constant pursuit to achieve can only lead to greatness.
My best to you and all of you this season. Go get'em, Johnny

[HardDaysKnight]

Oh, and voodoo...

Without doubt, a great part of 2005's success was due to the folks who post on GTX, which fuels confidence that we are poised for growth with profit in 2006.

That's a big part of it but, you definitely had
guardian angels looking out for you. To prosper with all those
snags in your life is amazing. I hope all is well with your family.
You also have a crew that's gold. Best of luck this year.