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Contracting has done me well. >Staff earn $47 an hour >I
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Contracting has done me well.

>Staff earn $47 an hour
>I take $6.50
>16 staff
>$104 an hour
>Take $60 an hour as pay.

Now my question /biz/. If I take on anymore staff I will probably need to hire an accountant / manager which would cut down profits significantly (this has a name but I can't think of the word). What do you suggest I do? Continue enjoying a leisurely lifestyle or shoot for the moon?
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>>997546
Dude what trade is this? That's a nice wage you're paying
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>>997548
IT contracting for businesses and education
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>>997546
How'd you get into the business? Did you start out as a contractor?
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>>997650
Hey left work so different ID.

I was originally an employee for a company but they didn't want to hire me officially as there was no guarantee of ongoing work so they offered me the it contract if I were to apply as a business.

Eventually the role turned full time and I needed a second person so I hired someone and eventually replaced myself. I then found a huge calling for it professionals and started full time pimping rather than working myself
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>>997750
Nice. Talk about turning lemons into lemonade.
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>>997795
Yeah I got lucky, a tip from me to you, if a company can't offer you full time work or even offer you guaranteed hours, then apply for the role as a business. It gets your foot in the door
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>>997808
Apply for role as a business.
Apply for role as a business.

Thanks.
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>>997546
>>997750
This is pretty damn cool. What are the people you're contracting out getting out of the whole situation though? Why are they losing $6.50 by going through you instead of working directly with the company?

>>997976
Not sure if you didn't understand or if you're actually thanking him but it's pretty easy to figure out what he was saying if you read the context. Apply for the position as "John Doe Holdings LLC" and not "John Doe"
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>>998012
>What are the people you're contracting out getting out of the whole situation though?

Originally nothing in all honesty. I had jobs available and people needed work. But as time went on my contracts got smarter. "Right of replacement" for techs means I can move people into roles without needing to interview in most cases (encourages new employees without a huge amount of experience for level 1&2). Also I have a large variety of fields in which techs can work, so that's nice.

I also reimburse employees for training when they pass the exam.
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>>997750
Wow whoever offered you the contract if you applied as a business handed you a blessing in disguise.
Good shit OP, I like to hear stories about maneuvering like this...It's good for the mind
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>>997546
The word you're looking for is profit margin.
Hiring a Manager is one of the best things you can do as an entrepreneur. Once installed you could sell the business at a nice premium if you desired.

Beyond that. What are the responsibilities you're trying to foist on this person?
Are they handling the New business or Old Business? Do you have plans for people to handle both?
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>>997546

I tip my hat to you for paying such a nice wage to your people, but is that really neccesary?

Couldn't you get cheaper labor somehow? Outsource, people without a college degree, etc....

but yes hiring a GM will help because then you can focus on securing contracts that will bring in more income, and advertising, etc... things that can grow the company.

Good for you for paying your people right.
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>>998309
>I tip my hat to you for paying such a nice wage to your people, but is that really neccesary?

Fuck Oath. I actually applied for a few jobs at competing companies when I was still green. These guys would always proudly announce that they would pay 30s (and even 20s) for a contract starting at $55 an hour... So I decided to pay for the quality I wanted to hire and help staff get their certificates. Has worked incredibly well for me so far.

>Couldn't you get cheaper labor somehow? Outsource, people without a college degree, etc....

What's funny is I ran out of mates and their friends to hire when I was first starting, so I hired kids right out of tafe for lvl2 positions. But it wasn't what I wanted so I ended up buying a friend's ICT on-road company. Moved most to 8-5 and ended up with a few solid contracts / diverse working force. So basically I have no qualms in paying the amount I am. The quality is really good.

>>998309
>but yes hiring a GM will help because then you can focus on securing contracts that will bring in more income, and advertising, etc... things that can grow the company.
That is what I am thinking, the staff need a lot of phone support for various things so it will be amazing to be able to offload some of that (perhaps start doing less than 60 hour weeks?). But my concerns are that I may not secure any more roles for a while with my time spent training up somebody. Thats all, so any thoughts on getting somebody that can land running?
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>>998271
>>998271
>Beyond that. What are the responsibilities you're trying to foist on this person?
Basically phone support for techs and escalating issues to myself rather than me being the first point of call for every issue. I also really need somebody to help me do the payslips each fortnight as I am finding that it costs too much time.

>Are they handling the New business or Old Business? Do you have plans for people to handle both?
When you put it like this I guess the person I am looking for is an assistant / general manager. Basically somebody that can spend their time helping techs and raise the bigger jobs to me so I can crush them before they become too big. Also never forget that all business is new business for contracting companies, contracts only last a few years. Our longest one is 3 years renewable for example.
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IT contracting like installs and tech support? Or do you deploy software?
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>>998942
From what you're telling me, You don't need a Manager Yet. You've built out One Operations division of a company. It sounds Like you Need a Senior Tech and to Hire a Payroll Company/Certified Bookkeeper. Both are significantly cheaper options.

Pick your two most respected dudes, and Give them Each a Portfolio/Project to handle for Q1, a budget projection, and Let them hire and Train their replacement. Let go of the reigns, and if it burns so be it, they've got to make it up to you. The guy who does best gets promoted. And the best trainee fills the spot.
The goal is to receive no calls from operations during that time. Except for Progress Reports.

Q2 After the winner is determined Find a Guy who can take him to school and hire him Take the full 3 months to do it.
You've got 2 Team leaders. 1 New Trainee, One Surplus Trainee, and a guy who needs a little more work till he's senior.

Two team leaders job Q3 is to develop jr into SR and to begin outfitting the team.

By Q4 You should have enough experience in sales/Marketing to begin developing a sales Division. Whose task will be to fill the time cards of your 2nd operations division.

A manager's responsibilities would include Growth, Reporting, Training, and Mission Control. That's still you it looks like.

There are a few critical points in a companies cycle where they have to scrap every procedure if they hope to grow, Its around multiples of 3.
So 3rd hire, 10th hire, 30th hire, 100th hire.

Sounds like you're still operating under some 3rd hire principles.
Once you've got 2 operations divisions and a sales division. which should be around 30 people then you get a manager.
You've been doing this a while and should have decent enough tax returns to snag some short term loans
Bookkeeper and payroll should be contracted out till about 100th hire when you should consider an HR dept.
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>>998309
>Couldn't you get cheaper labor somehow? Outsource, people without a college degree, etc....
I pay what people say they're worth. If they say 20's, that's what they get. If they say 60's I'll settle at 40's with benefits. If you don't tell me what you're worth, I'll tell you what you're worth.
Pay peanuts, get monkeys.
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>>999080
Also thanks for this, gonna use it for my animation "company".
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