Good turnover for 1st year?

[Millsy 82]

When you first set up how much did you turnover in the 1st year (if you don't mind I don't mean to be cheeky as I know a lot of people don't like talking money) I set up in May last year and going through yet another quiet patch! I've got jobs in the pipeline but nobody wants anything done for a month!

At the moment I am looking at my options as there are a couple of employed jobs and sub contracting going around me, it's not that I'm short of cash but it's the boredom has set in big time.

From the end of May to know I have turned over around 30k but due to having to do courses etc and having to buy tools (I've mainly done service and breakdown over the past 5 years so had no decent drills etc) I have earnt virtually nothing, which I was expecting but I was hoping to have been closer to 40k buy now.

Is that about normal for the first year? Was I expecting too much (I was hoping for around 50k in the first year, that's turnover not profit)

I have a load of flyers going out in a week so hopefully they will have the same response they had last time which would get me a bit closer.

I've got most of the tools I need now but there is still a couple of things I need but not desperately so hopefully i will earn some money over the next few months.

 

[gassafe]

I don't pay much attention to turnover... It's the profits that count!!!

For example buying gas & oil boilers etc will make your turnover seem high but that's not profit. If your on 30k turnover with small expenses then your doing well...

The 1st year is always a slow start, it's about building a customer base & keeping you head above water, get a good name & it will grow... Plus you still have a long time left to complete your 1st year figures!!

 

[Millsy 82]

As I said that due to having to buy tools etc I know my profit is non existent at the moment but I was expecting that, if I add on the cost of bits that I bought before I left employment it will defiantly be minus figures lol.

I am in a fortunate position that my out goings are very low as I have no rent/ mortgage etc and I know this is the only time in my life that I have the chance to go self employed without putting huge financial strain on my self and partner. The only problem is we live with her parents so when I'm sat at home all the time waiting for the phone to ring I know what they are thinking.

I would say that 90% of my work is gas/oil etc so I know a fair chunk is materials but I wouldn't of thought much more than 12-14k although I have not kept a log of that (something that I'm going to start doing from now on).

My dad who is also my accountant said not to worry about I am doing well but then I respond with how can I be doing well when I'm not working a lot but he just says don't worry about it.

 

[wetdrip]

Where are you based Millsy?

 

[Millsy 82]

I'm down in cornwall.

 

[hammers4spanner]

Its hard down the southwest as its retirement home for plumbers and gas fitters.

I would say you need to earn 25 k profit here minimum or just as well go on the cards

But then you have a boss which has big draw backs

So if your happy earning less and not struggles then happy dayss

 

[hammers4spanner]

I wouldn't worry to much about the phone either otherwise it becomes an obsession.

Patience my fellow carrot cruncher

 

[wetdrip]

I'm down in cornwall.

PM being sent.

 

[Millsy 82]

Its hard down the southwest as its retirement home for plumbers and gas fitters.

I would say you need to earn 25 k profit here minimum or just as well go on the cards

But then you have a boss which has big draw backs

So if your happy earning less and not struggles then happy dayss

That's the aim I'm hoping by the 3rd year I will be on 25k at least. I went for a few jobs but the money they were offering was around that and the hours were 8-5 I thought if I'm taking a drop in wages I will give self employed and try and cut back on the amount of hours I do.

 

[Shower Engineer]

My first year turnover was £ 14,614.84, I spent £ 7,564.25 on materials and after all other deductions I paid myself £ 2,465.15. That was back in 1986 though!
My second year the figures were roughly double that and the third year were about x3 after which they flattened out. All my work was domestic plumbing and heating.
I was lucky, single and living at home. I also had a part time job teaching plumbing at our local college.
So I have now been self-employed for nearly 30 years and the best bit of advice I can give you is keep on top of the bookwork. Doesn’t matter if you father is your accountant you need to know the figures inside out. Just keep a simple Excel sheet and keep it up to date. Make sure that you do this at the end of every month if not more frequently. Sounds like you have been self-employed 8 months and you don’t know how much you have laid out on materials? That is a worry.

I was the same as you and it caused me a lot of sleepless nights, just do the figures regularly and you will know if you are doing ok. If it’s not working out you will also find that out before it is too late.
If you find you are quite then have some leaflets printed and drop them door to door, maybe staple a business card to them. Try including an incentive “Introductory offer - boiler service and system inspection £ xx.xx” “Free inhibiter check and top up with every service”

Persevere and you will be fine, just try and avoid working for builders!

 

[gassafe]

Keep an eye on rollimg turnover... Over 81k in a 12 month period & you will have to register for vat!

 

[Millsy 82]

My first year turnover was £ 14,614.84, I spent £ 7,564.25 on materials and after all other deductions I paid myself £ 2,465.15. That was back in 1986 though!
My second year the figures were roughly double that and the third year were about x3 after which they flattened out. All my work was domestic plumbing and heating.
I was lucky, single and living at home. I also had a part time job teaching plumbing at our local college.
So I have now been self-employed for nearly 30 years and the best bit of advice I can give you is keep on top of the bookwork. Doesn’t matter if you father is your accountant you need to know the figures inside out. Just keep a simple Excel sheet and keep it up to date. Make sure that you do this at the end of every month if not more frequently. Sounds like you have been self-employed 8 months and you don’t know how much you have laid out on materials? That is a worry.

I was the same as you and it caused me a lot of sleepless nights, just do the figures regularly and you will know if you are doing ok. If it’s not working out you will also find that out before it is too late.
If you find you are quite then have some leaflets printed and drop them door to door, maybe staple a business card to them. Try including an incentive “Introductory offer - boiler service and system inspection £ xx.xx” “Free inhibiter check and top up with every service”

Persevere and you will be fine, just try and avoid working for builders!

14k in 1986 is like 40 nowadays so I suppose it's not too bad.

When I first started I kept track of my incoming and outgoings and I did that for a few months and my dad said not to worry about that as he is doing that for me.

What I have decided I'm going to keep track of is how much I make on a job and spend per job as on smaller jobs I know exactly what I make but larger jobs I'm not 100% certain what I make I know it's around x amount (1 boiler change and soil stack replacement was between £350-£500 for boiler and £230ish for soil stack) so I know roughly what I'm doing.

I think my dad would tell me pretty quick if I was in trouble or heading for trouble as it would be him I would be moaning at if it didn't work. Lol.

 

[Millsy 82]

Keep an eye on rollimg turnover... Over 81k in a 12 month period & you will have to register for vat!

Blimey I'll be so lucky! Lol.

I know my exact turnover from start of July as I do a job sheet so I know whose paid, what I'm owed etc as I started dealing with a letting agency so wanted to have something that I could look at and say I sent you the bill on such and such date, invoice number blah blah, for job completed on this date etc so I knew where I stood.

 

[gassafe]

I don't keep a record of each small job profits, as there's no point etc.

i keep an invoice book & receipts book, every month I list all incomings & all outgoings plus file the receipts for that month. Sounds like your leaving too much to your dad, this is Your business... Just throw the books at him end of year for him to work out your tax etc...

 

[Millsy 82]

I don't keep a record of each small job profits, as there's no point etc.

i keep an invoice book & receipts book, every month I list all incomings & all outgoings plus file the receipts for that month. Sounds like your leaving too much to your dad, this is Your business... Just throw the books at him end of year for him to work out your tax etc...

As I said I did but he did it again and came up with a completely different figure I worked out as -£1500 and he had it -£3000! I asked him how he did it and he just smiled. It is his job and I am paying him for it and he wants to do it so who am I to stop him from doing it.

 

[rocketmanbkk]

I agree, turnover can be deceptive because of expensive materials etc,

My first year I made a loss of nearly £5k. But that's with a van, tools etc.

This is my second year and I will either break even or make a very small profit,

3rd year I hope to profit £15k

Yr 5 £30k and then steady unless I buy new van.

It's all good,

Good luck.

 

[wetdrip]

Do most of you add 20% on materials as pimlico do?

 

[Roger Welton]

As others have said turnover means nothing, profit margin is the main thing, no point running over huge amounts of cash for a small profit, its definitely worth keeping a little spreadsheet of income and expenditure so you can keep an eye on your margin, and rolling turnover (for VAT).

edit to add

it looks like my first few years were as follows in terms of turnover

1 - £35k
2 - £40k
3 - £50k
4 - £68k

I am presently running just below the VAT threshold and trying to keep it that way!

 

[Millsy 82]

Do most of you add 20% on materials as pimlico do?

Yeah I do but I think that's what puts me above other tradesmen, unless they get better prices.

 

[quality]

Do most of you add 20% on materials as pimlico do?

I double my materials

 

[lame plumber]

forget what others do, here in the SW you'll find some on £20 an hour or less and others charging £75 for the first hour and 45 thereafter. Its sometimes better to charge more and do less rather than working fm dawn till dusk for peanuts. If you are near Rock or any other London 2nd home spot, get your charges up, they expect to pay, the locals will moan but if you turn up on time and do a good job they will pay, its just the odd one or two that winge and pig, so forget them and move on.

 

[village idiot]

You say your dad is responsible for your accounts etc and you see no need to do what he already does. I think you should still keep records of your work.

 

[Millsy 82]

forget what others do, here in the SW you'll find some on £20 an hour or less and others charging £75 for the first hour and 45 thereafter. Its sometimes better to charge more and do less rather than working fm dawn till dusk for peanuts. If you are near Rock or any other London 2nd home spot, get your charges up, they expect to pay, the locals will moan but if you turn up on time and do a good job they will pay, its just the odd one or two that winge and pig, so forget them and move on.

Over a couple of years I hope to rise my prices as I'm totally in your way of thinking. I got my dad to phone around a few local lads and find out what they are charging and I'm around the same price as most of them.

I did a job down st Ives in August, if ever I get one down there again they will be charged 2 hours minimum as I spent an hour trying to find a parking space.

 

[lame plumber]

You need a moped and box for St Ives, like the lifeboatmen 🙂

 

[Millsy 82]

You say your dad is responsible for your accounts etc and you see no need to do what he already does. I think you should still keep records of your work.

From this thread I've decided I'm going to start doing it again. It didn't take long to do what I was doing I think about half hour a week. I'm also going to work out what I earn off the jobs as well it may put my mind at ease or make me double check my prices.

 

[Millsy 82]

You need a moped and box for St Ives, like the lifeboatmen 🙂

The day I wet down there I don't think that would of helped! Bloody emits everywhere! And the job was behind the sloop so no parking anywhere near, although walking through the streets with a plunger in my hand made everybody move.

 

[Chalked]

I double my materials

Thats ok on small parts, but you won't get much work doubling the price of a boiler !

 

[R.Oak]

Have you considered things like check a trade or rated builder? I dont use them, and to be honest have heard mixed reviews, but if you are looking for additional work then maybe they can help

 

[Millsy 82]

Have you considered things like check a trade or rated builder? I dont use them, and to be honest have heard mixed reviews, but if you are looking for additional work then maybe they can help

I do use rated people against my better judgement which has been ok really. I never go for the big jobs as I'm not paying £30+vat for someone to undercut me by £600 (that was a full system and fit a new shower chasing the pipes in the wall, I priced it up 4 days £200 a day and I got under cut by that so either he gets a brilliant price or working for nothing.

 

[Nostrum]

I wouldn't worry about things just yet Millsy.

Ive been trading for about 18 months. We are above the VAT threshold but profit is still below what I would like. Our problem is volume. We have days where there is nothing to do and other weeks where we are on 14-15k jobs.

There is no quick way in unless you pick up large contracts which normally go to larger companies, which have had to go through the same as you are now!

You have to look at the long term goal rather than the pay slip for this month, otherwise you'll drop back into employment and all those important decisions are out of your control. Before you know it your redundant and have to start at the bottom of the pile for a different company again.

I know jobs are few and far between down your way, I've got a guy who gives me a hand to build up his portfolio who comes up from Falmouth whenever he can. Shame as he seems like a good bloke who is switched on. If he was in Plymouth I'd have him full time.

As a thought, I know there are quite a few down your way on low incomes, do you come across them often?

 

[Nostrum]

I do use rated people against my better judgement which has been ok really. I never go for the big jobs as I'm not paying £30+vat for someone to undercut me by £600 (that was a full system and fit a new shower chasing the pipes in the wall, I priced it up 4 days £200 a day and I got under cut by that so either he gets a brilliant price or working for nothing.

My experience of those type of sites are the same. They attract the customers who want the cheapest price rather than quality. I try not to waste my time with them now. Rated people charge to much for leads, maybe ok to charge that in London but not down here.

 

[Millsy 82]

I wouldn't worry about things just yet Millsy.

Ive been trading for about 18 months. We are above the VAT threshold but profit is still below what I would like. Our problem is volume. We have days where there is nothing to do and other weeks where we are on 14-15k jobs.

There is no quick way in unless you pick up large contracts which normally go to larger companies, which have had to go through the same as you are now!

You have to look at the long term goal rather than the pay slip for this month, otherwise you'll drop back into employment and all those important decisions are out of your control. Before you know it your redundant and have to start at the bottom of the pile for a different company again.

I know jobs are few and far between down your way, I've got a guy who gives me a hand to build up his portfolio who comes up from Falmouth whenever he can. Shame as he seems like a good bloke who is switched on. If he was in Plymouth I'd have him full time.

As a thought, I know there are quite a few down your way on low incomes, do you come across them often?

I don't really come across a lot that are on low income but my thoughts are most of them will either be in housing association or rented accommodation. The only person that pleaded poverty is someone who owns a yard and about 8 horses so she is not really poor.

Jobs do tend to be few and far between but as everybody keeps telling me down here reliability is the biggest thing as so many people get let down (I worked for a person the other day who had been let down by 3 local plumbers, ok it was only a tap washer but I was in the house for 10 minutes including talking and I got £40 for it and I may have a bathroom suite off the back of it in the summer)

Most of my customers have been great 1 or 2 slow payers and 1 builder that I threatened to take to court as he wouldn't pay his £140 bill but generally they have been good and some nice little jobs.

I think half my problem is a slow couple of weeks has driven me nuts and then I started looking at the job sites which then gets me thinking but as you said you go on for a company and you lose all your say so and end up working stupid hours for rubbish money (especially down here apart from the odd job). Then there is the subcontract route but everybody seems to want all or nothing (nears wanted 5 days a week and to go on a call out rota! Surely they should just employ direct then!) so if I did go that route when they dump me I'm back in the same position maybe even worse.

 

[Millsy 82]

My experience of those type of sites are the same. They attract the customers who want the cheapest price rather than quality. I try not to waste my time with them now. Rated people charge to much for leads, maybe ok to charge that in London but not down here.

My way of doing it small jobs only and if your not 1st don't buy it. Then buy it and phone straight away and get in there and done quick before someone else buys it. I have noticed though that once 1 person buys it then no one else will as I watched a few of the others.

I have only not got 2 jobs out of all the ones I bought apart from 1 large job that I said about.

You may lose a bit of money on the job but if I earn £30 for am hours work then I'm happy.

 

[Nostrum]

Only reason I mentioned the low income was because ECO 2 is focusing more on off grid. When I worked on warm front we spent a lot of time down your way on oil boiler installs.

Not sure on details yet as it doesn't start until April but if it's any good I may look into the area and would be good to have an installer down there :wazzzup:

We've also done a bit in East pool park for a contractor on the Guinness estate. Mostly wrapped up now though.

 

[Nostrum]

We don't cover plumbing so most of the small jobs aren't for us.

 

[cr0ft]

Since moving up to Lincoln (Calendar years): -

Y1 - £32,217, £7,800 wage, £3,632 net profit before tax
Y2 - £59,948, £10,917 wage, £13,331 net profit before tax (1 employee taken on at the end of the year)
Y3 - £139,380, £17,847 wage, £52,426 net profit before tax (2 employees, 1 taken on at the end of the year)

Bear in mind that the year 3 figures and the last quarter of year 2 figures I was employing other people. I take next to no wage myself (up to the NI threshold) and pay myself share dividends from profits and buy vans etc to grow the business.

As others have said, if you want to remain a one man band you will reach a ceiling where you physically can't do any more in a week.

Also bear in mind that we built up a reputation in Hampshire for 3 years before moving up here. Not sure how much that has really helped us in Lincoln though as we really had to start all over again. Only difference is we had a good chunk of tools already in our possession.

Biggest difference between Y2 and Y3 - charging a proper markup on everything we supply. It goes straight into the profit line.

 

[tamz]

Dug out my 1st years accounts 1997. Me and an apprentice. I was in a partnership before that so had the van and the tools etc.
£142973 turnover, £68935 gross profit £57201 nett.

Went up to over 600k at one time now back to around the same level

 

[Millsy 82]

Since moving up to Lincoln (Calendar years): -

Y1 - £32,217, £7,800 wage, £3,632 net profit before tax
Y2 - £59,948, £10,917 wage, £13,331 net profit before tax (1 employee taken on at the end of the year)
Y3 - £139,380, £17,847 wage, £52,426 net profit before tax (2 employees, 1 taken on at the end of the year)

Bear in mind that the year 3 figures and the last quarter of year 2 figures I was employing other people. I take next to no wage myself (up to the NI threshold) and pay myself share dividends from profits and buy vans etc to grow the business.

As others have said, if you want to remain a one man band you will reach a ceiling where you physically can't do any more in a week.

Also bear in mind that we built up a reputation in Hampshire for 3 years before moving up here. Not sure how much that has really helped us in Lincoln though as we really had to start all over again. Only difference is we had a good chunk of tools already in our possession.

Biggest difference between Y2 and Y3 - charging a proper markup on everything we supply. It goes straight into the profit line.

I think that's something else that goes against me is that I moved down in May so I've started completely from scratch if I was to set up where I come from I would of been in a better position also because it was a wealthier area.

 

[Millsy 82]

Dug out my 1st years accounts 1997. Me and an apprentice. I was in a partnership before that so had the van and the tools etc.
£142973 turnover, £68935 gross profit £57201 nett.

Went up to over 600k at one time now back to around the same level

Nobody likes a show off! Haha

Seriously that's good going.

 

[tamz]

Some of the work followed me when i left the partnership so i wasn't scraping around from scratch.
Still don't advertise and nothing on the van. You either know me or you don't. Suits me that way.

 

[Ray Stafford]

Step 1 - decide what your goal is. Do you want to be a self employed tradesman, or are you looking to build a plumbing business? Both are perfectly reasonable life choices, but are utterly different mindsets.

Step 2 - remember that being self employed means having the toughest boss on the planet! Start thinking like the boss, not like the worker.

so when I'm sat at home all the time waiting for the phone to ring I know what they are thinking.

What do you mean "sat at home waiting for the phone to ring?" That's worker-think, not boss-think!

Your phone is a mobile isn't it? You can still answer it when dropping leaflets, visiting letting agents, building your own website, or otherwise touting for business? Business hours are business hours - and if you are not working IN your business, make sure that you are working ON your business.

I must have seen a thousand blokes go self employed, with all the possible range of outcomes - from becoming millionaires, doing OK but not spectacular, through grinding out years of stress, down to bankruptcy, divorce and even suicide.

I reckon there are three key factors: (assuming technical capability is there)

1) Mental attitude. Its hard graft, so graft hard.
2) People skills. Being a good tradesman is not enough if customers don't warm to you
3) Luck. Don't use it as an excuse, but be aware that it can mess you about. But also remember that the harder you work, the luckier you get.

 

[lame plumber]

my cousin is very lucky, millionaire several times over, something to do with the fact he never ever stopped working 24/7.

 

[tomplumb83]

If you're out delivering leaflets between 0800-1200 it'll keep the inlaws off your back and get you work too. Guaranteed. Chances are you'll do afew hours delivering and work the afternoon for people who's seen your leaflet.
Oh and it'll keep you fit or fitter....

 

[SimonG]

Do most of you add 20% on materials as pimlico do?

30 % on mine.

 

[Ray Stafford]

Do most of you add 20% on materials as pimlico do?

Should be 15% on higher value heating stuff, and 30% on lower value and general plumbing. Very high value bathrooms maybe at heating rates, once the value passes £2k

 

[Chalked]

Step 1 - decide what your goal is. Do you want to be a self employed tradesman, or are you looking to build a plumbing business? Both are perfectly reasonable life choices, but are utterly different mindsets.

Step 2 - remember that being self employed means having the toughest boss on the planet! Start thinking like the boss, not like the worker.



What do you mean "sat at home waiting for the phone to ring?" That's worker-think, not boss-think!

Your phone is a mobile isn't it? You can still answer it when dropping leaflets, visiting letting agents, building your own website, or otherwise touting for business? Business hours are business hours - and if you are not working IN your business, make sure that you are working ON your business.

I must have seen a thousand blokes go self employed, with all the possible range of outcomes - from becoming millionaires, doing OK but not spectacular, through grinding out years of stress, down to bankruptcy, divorce and even suicide.

I reckon there are three key factors: (assuming technical capability is there)

1) Mental attitude. Its hard graft, so graft hard.
2) People skills. Being a good tradesman is not enough if customers don't warm to you
3) Luck. Don't use it as an excuse, but be aware that it can mess you about. But also remember that the harder you work, the luckier you get.

Post of the year. ! .
mind you it's January !

 

[Millsy 82]

Step 1 - decide what your goal is. Do you want to be a self employed tradesman, or are you looking to build a plumbing business? Both are perfectly reasonable life choices, but are utterly different mindsets.

Step 2 - remember that being self employed means having the toughest boss on the planet! Start thinking like the boss, not like the worker.



What do you mean "sat at home waiting for the phone to ring?" That's worker-think, not boss-think!

Your phone is a mobile isn't it? You can still answer it when dropping leaflets, visiting letting agents, building your own website, or otherwise touting for business? Business hours are business hours - and if you are not working IN your business, make sure that you are working ON your business.

I must have seen a thousand blokes go self employed, with all the possible range of outcomes - from becoming millionaires, doing OK but not spectacular, through grinding out years of stress, down to bankruptcy, divorce and even suicide.

I reckon there are three key factors: (assuming technical capability is there)

1) Mental attitude. Its hard graft, so graft hard.
2) People skills. Being a good tradesman is not enough if customers don't warm to you
3) Luck. Don't use it as an excuse, but be aware that it can mess you about. But also remember that the harder you work, the luckier you get.

I must admit that during December I forgot to order my new leaflets as I was quite busy so that didn't help as I had to order them after Christmas and they only came on Tuesday. So starting on Monday I will be out delivering the other 2000.

I've not so much been sat at home I have made sure all my paper work is up together and completely up to date and I chased up payments.

I did the lettings agencies when I first started up and didn't really get anything off it. I think there are people doing llgsc for £35.00 so unless I want to drop my prices I won't get in there. (I am willing to drop my prices slightly for a large number of work I have hopefully got a caravan site from 1 job but it means doing llgsc for £43.00 which as I said to them I am happy to do as long as I get more than 2 a day)

Going on from the caravans I have a pack all ready to go out to a load more caravan sites around me but I'm just waiting on my certificates to come through (I re-sat my course 15/12/14 so they should be through any day)

I've also sorted out more advertising in local advertisers etc and for fairly cheap prices but none of that kicks in until the start of feb at the earliest.

The website, well you have me there I should do something to it as it is a bit pants but when it comes to computers I am shocking! Lol. But I will do it.

 

[jtsplumbing]

my cousin is very lucky, millionaire several times over, something to do with the fact he never ever stopped working 24/7.

Bet he's not in the building trade, more like IT

 

[armyash]

Step 1 - decide what your goal is. Do you want to be a self employed tradesman, or are you looking to build a plumbing business? Both are perfectly reasonable life choices, but are utterly different mindsets.

Step 2 - remember that being self employed means having the toughest boss on the planet! Start thinking like the boss, not like the worker.



What do you mean "sat at home waiting for the phone to ring?" That's worker-think, not boss-think!

Your phone is a mobile isn't it? You can still answer it when dropping leaflets, visiting letting agents, building your own website, or otherwise touting for business? Business hours are business hours - and if you are not working IN your business, make sure that you are working ON your business.

I must have seen a thousand blokes go self employed, with all the possible range of outcomes - from becoming millionaires, doing OK but not spectacular, through grinding out years of stress, down to bankruptcy, divorce and even suicide.

I reckon there are three key factors: (assuming technical capability is there)

1) Mental attitude. Its hard graft, so graft hard.
2) People skills. Being a good tradesman is not enough if customers don't warm to you
3) Luck. Don't use it as an excuse, but be aware that it can mess you about. But also remember that the harder you work, the luckier you get.

If Rocky was a plumber and not a boxer, im certain that's what his trainer would have said to him lol.

Great post.

 

[WaterTight]

2) People skills. Being a good tradesman is not enough if customers don't warm to you

This is the single biggest factor why I do ok, in my opinion. It's not even about being liked, it's about being likeable. Not a meanginless distinction.

I worked for one guy about 4 years ago that was seriously good, extremely capable, but had the personality of a inconvenienced teenager and therefore had had to spend 25 years building a customer base who would book him for his skills alone.

I also worked for a guy who was a natural charmer and salesmen. Not in a con-man kind of way. In a couple of short years trading and with plumbing not being a talent he would lay claim to he had built a business that could have - in theory - employed five people full time. But extenuating circumcisions did a number on him.

I also find I can charge an extra 10% if I work without trousers.

 

[WaterTight]

3) Luck. Don't use it as an excuse, but be aware that it can mess you about. But also remember that the harder you work, the luckier you get.

Fortune favours the brave.

It's a good point and essentially about the misunderstanding of the nature of randomness. When two groups of people are told to write down the results of 50 consecutive coin tossess the reason it can be immediately identified which group were actually given a coin and which group had to make the results up is because that the latter never dreamt that you might naturally get 8 tails in a row. Randomness alone means a business that was inundated in Jan 2014 may be checking the phone works in Jan 2015.

In a sample size of one business, expect dramatic and worrying fluctuations just as a matter of course.

 

[fogarty]

I also find I can charge an extra 10% if I work without trousers.[/QUOTE]



I think some of the plumbers I know would have to pay me to have to watch them work in their underpants.:tounge_smile:

 

[WaterTight]

I also find I can charge an extra 10% if I work without trousers.

I think some of the plumbers I know would have to pay me to have to watch them work in their underpants.:tounge_smile:[/QUOTE]

Difficult to declare this on your return though.

 

[hammers4spanner]

I think its also a case of who you know as well , their are firms where i live that i wouldn't trust with lego never mind gas and water but they have good contacts.