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Started By
Message
re: NOLA Contractor, LSU Grad, Arrested in 2 Parishes
Posted on 7/25/14 at 8:24 am to saderade
Posted on 7/25/14 at 8:24 am to saderade
He could have also been using money from current jobs to pay material bills on past jobs and it all caught up to him.
I have seen it happen. Some contractors live on credit using their customers money and it eventually catches up to them. Instead of treating each job as the individual job that they are and not commingling the funds they throw it all together and lose track.
It will get you eventually.
There are also the ones that play big shot too fast. They build a few houses and next thing you know they have a full office with a staff and overhead. They usually don't last long. My office is my truck and has been for years. No need to take on unnecessary expenses that you can't meet when things slow down. Of course I learned this the hard way but I never stole from anyone to learn that lesson either.
I have seen it happen. Some contractors live on credit using their customers money and it eventually catches up to them. Instead of treating each job as the individual job that they are and not commingling the funds they throw it all together and lose track.
It will get you eventually.
There are also the ones that play big shot too fast. They build a few houses and next thing you know they have a full office with a staff and overhead. They usually don't last long. My office is my truck and has been for years. No need to take on unnecessary expenses that you can't meet when things slow down. Of course I learned this the hard way but I never stole from anyone to learn that lesson either.
4
Posted on 7/25/14 at 8:29 am to stout
quote:
stout
You sure do like to pat yourself on the back a bunch don't you?
Posted on 7/25/14 at 8:35 am to stout
quote:
They build a few houses and next thing you know they have a full office with a staff and overhead.
i think this is the curse of small businesses everywhere. it's mind-numbing in the legal profession
Posted on 7/25/14 at 8:36 am to stout
yeah overhead will kill a small business
I interviewed with a successful new service company last year that will do about 50 million in revenue in 2014. "Corporate" was 3 ModSpace buildings connected by a porch with a metal shop and gravel yard next door.
I interviewed with a successful new service company last year that will do about 50 million in revenue in 2014. "Corporate" was 3 ModSpace buildings connected by a porch with a metal shop and gravel yard next door.
Posted on 7/25/14 at 9:17 am to stout
quote:
I have seen it happen. Some contractors live on credit using their customers money and it eventually catches up to them. Instead of treating each job as the individual job that they are and not commingling the funds they throw it all together and lose track.
It will get you eventually.
Yep, it happened to this guy in BR not to long ago. I lost 15K from it.
LINK
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