I met with a prospect recently who is afflicted with chief cook and bottle washer syndrome. He is the CEO, the salesman, the bookkeeper, the office clerk, the production manager, the service manager, the marketing manager. He is working over 75 hours per week and said he is concerned that he is working at a breakneck pace. He said he would like to leave the business to his kids who work in the business. He also said he doesn't really take vacations and when he does he is working from the vacation destination.
His spouse doesn't want to work in the business because he is very particular and for lack of a better word anal about the way things are done. His volume of work is in excess of seven figures. He even does his own payroll for 10 plus employees. He says he doesn't trust anyone! And I am glad to say he is a nice guy and is legally licensed and insured with a strong reputation. However he knows he is missing out on the family, the grandchildren, and time with his spouse. He doesn't have the time he would like for his hobbies and leisure. He was quick to point out that he was self made and learned from the school of hard knocks.
The above description is quite common for contractors. The likelyhood of a contractor similar to the above making it over the long haul are slim. They usually burn out, make mistakes, get divorced, or worse have heart attacks and of course go out of business. When this happens homeowners are left in the lurch and complain to the authorities. Is it any wonder that contractors are the most complained about industry in America, according to the Consumer Federation of America. These contractors usually have little or no systems, business training, and very rarely use best practices.
He says he needs a coach or some help, but is not sure if he can ever let go of his baby. Hopefully he doesn't join the ranks of 95% of contractors who don't make it and leave their customers with no one to service their work.
What do you think he should do?