I Give Up! (an update)

**Brenton** · 08-22-2007, 06:16 AM

yeah, I was actually tempted to give him the business. I find it very hard to find the right staff to do everything--sales, management, quality control & detailing. Probably the same all over. My potential staff are all driving a quad in the Great White North above 60 making $50/hour to lay down wire.
I don`t have the cash flow to hire a $30k manager yet, I don`t think.

**Poorboy** · 08-22-2007, 08:11 AM

Originally Posted by PEI Detail

yeah, I was actually tempted to give him the business. I find it very hard to find the right staff to do everything--sales, management, quality control & detailing. Probably the same all over. My potential staff are all driving a quad in the Great White North above 60 making $50/hour to lay down wire.
I don`t have the cash flow to hire a $30k manager yet, I don`t think.

you could let him run it on commission basis only ...even if you only grab 20% of the profit, it`s still yours and he has great motivation at 80% to work it well

**Brenton** · 08-22-2007, 03:55 PM

I could do that. I could also just give him the business and take a 7 year loan for him to pay it back. Have him pay back a little this fall, a little next year, and start in earnest in 2009.
We actually got a promising call on an old website ad. Nice couple looking to work together. Perhaps that might work; we`ll see.
b

**Brenton** · 10-22-2007, 10:49 PM

Just an update: we`ve run out of money and steam. We may be folding up shop by Christmas. It`s a tough go, but we`ll see how it goes. We may have an employee who will carry it on and at least take care of obligations (rent & contracts & yellow page ad) as well as gift certificates, etc.
We`ll see.

**jaybs02** · 10-23-2007, 05:43 AM

Sorry to hear that Brenton. Hopefully you will be able to cut your losses (if any) to a minimum.

"J"

**Poorboy** · 10-23-2007, 06:43 AM

Originally Posted by jaybs02

Sorry to hear that Brenton. Hopefully you will be able to cut your losses (if any) to a minimum.

"J"

Sorry to hear +1

**cwcad** · 10-23-2007, 07:31 AM

Gosh, I am really sad to hear this. My thoughts and prayers are with you in your hour of decision.

**CharlesW** · 10-23-2007, 01:55 PM

Originally Posted by PEI Detail

Just an update: we`ve run out of money and steam. We may be folding up shop by Christmas. It`s a tough go, but we`ll see how it goes. We may have an employee who will carry it on and at least take care of obligations (rent & contracts & yellow page ad) as well as gift certificates, etc.
We`ll see.

It`s never a good feeling to have to give up on something, but it isn`t the end of the world, either.
Over the years, I have been involved in two less than ideal business situations.
The first one, I did what you have been doing, battled it for a couple of years before having to give up on it. By hanging on, I managed to lose about 5 years of my income at that time.
The second one, I realized things weren`t working out and managed to get out before dumping a bunch of money in it.
In both cases, I was able to get out with a clean slate and not owing anyone a bunch of money I couldn`t come up with.
I did learn a few things.
After the first one, I learned to take your lumps and get out rather than stick it out that long.

After the second one, I learned that being in business for myself was not my thing.

Working for someone else didn`t turn out to be all that bad.

Charles

**Brenton** · 10-24-2007, 04:48 AM

Thanx for the comments folks. I appreciate all the support.
I think I`ve found a guy to take over, on of the guys that works with me some. I think he`ll help mitigate the damage, but it will take a few months to make the transition. He would take over Dec 1, but I think I would still be helping him do books and marketing until May.
I`d love out sooner, but I just want out.
brenton

**Troy@Protekt** · 10-24-2007, 08:22 AM

I hope your making the right decision. What are your plans once you`re free of the shop?

One more thing to throw out there. You could raise your prices and down size a bit making the business more manageable. If you`re just tired of dealing with details all day long. You could start offering clear film treatment or accessory installation to spice things up and break the monotony. Seems a shame to let go of a business that is busy unless you are making good money to sell it.

**Brenton** · 10-24-2007, 04:21 PM

Thanx for the comments Troy.
In the long run, we were increasing prices and narrowing our demographics. But it isn`t the work--I only do about 10-12 hours/week of actual work. I run it, and I teach quite a bit.
That`s what I`ll do when I`m done the shop, I`ll teach. I have f/t till April 25.
After that, we may spend the summer up north to catch some $$, and then keep teaching in the fall (if it comes).
brenton