Last month we looked at some of the advantages of owning a bigger business. Naturally you can review that list to understand some of what you miss by staying small. We will look at additional problems and frustrations of a one-man company in this article.
My 20-year-old daughter is a fully trained emergency medical technician. We often share vegetating time by watching EMT reality shows featuring trauma care, sports disasters and other mayhem. Nearly every episode includes some mention of how lucky the principal character was to have survived a mishap or illness.
Those who've worked within the hydronic radiant heating market in most areas of the county have probably been asked about the feasibility of snowmelting. Many hydronic professionals now offer it as a part of their repertoire. It's a natural extension of the skill set learned to design and install radiant heating systems.
Recently I wrote about wiring wall outlets. This time I want to talk about wiring wall switches and light fixtures. If you've ever looked at an installed wall switch, you might see that there are two black wires attached to it, and no white. Or you might see a black and a white. Or there might be a black and a white with a black mark on it. Does it make a difference? And if so, what is the difference? Let's find out.
Anyone who has sat through a high school science class may remember the term “osmosis.” This process was first described by a French scientist in 1748, who noted that water spontaneously diffused through a pig bladder into alcohol.
More than 200 years later, a modification of this process known as “reverse osmosis” allows people throughout the world to affordably convert undesirable water into water that is virtually free of health or aesthetic contaminants. Reverse osmosis systems can be found providing treated water from the kitchen counter in a private residence, to installations used in manned spacecraft.
Someday, maybe not for a long time in some owners' minds, selling the business will become a priority. Like many other events that occur in the business, planning ahead makes the difference between mediocre results and a true success.
One comment that I will never forget was a doctor telling me that when you're sick, the worst place to be is in the hospital. At first, this statement made absolutely no sense. But this doctor went on to explain that, in a hospital, there are germs all over the place. If you are sick, your immune system may not be able to fight off all of the other germs in the hospital.
Ever hear the old saying, “You'll catch more flies with honey than you will with vinegar”? What's that got to do with you and your business?
Most business owners that contact me are reaching out because they're frustrated by what their employees do and don't do. Rarely does someone contact me to let me know they love what their people do and that they're the best in the business. Most owners think poorly about the quality of work done by their employees. This is truly unfortunate. The negativity actually invites more bad performance.
The plumbing industry's second largest national supply house chain, Hughes Supply, is now owned by Home Depot - or soon will be, depending on when they wrap up all the legalities of the takeover. This was Home Depot's largest acquisition ever, costing around $3.5 billion. Hughes operates some 500 branches in 40 states with $4.4 billion in annual sales. Hughes is now part of Home Depot Supply, whose revenues are projected to shoot past $12 billion this year.