I’ve met a lot of Fire & Security installers, surveyors and engineers who have been asking themselves this HUGE question.
They are excellent at installing systems. They hate working FOR someone. The hours are too long and too unreliable. It’s too regimented and they’re sure they could do the job much better.
Surely it cannot be that hard to work for yourself?
Why most Fire & Security businesses fail in the first five years
The first thing I say to them is:
Have you read The EMyth Revisited by Michael Gerber.
Or The EMyth Contractor by Michael Gerber. It is sub-titled: Why most contractors’ businesses don’t work and what to do about it!
These two simple books are available on Amazon and Audible and could help you to decide which is the right choice.
The sad fact is that 80% of all ‘contracting’ businesses like Fire & Security installation will fail.
Most will fail within the first five years. Most of the rest will fail in the next five years. And they will all fail for one reason.
Because the owner of the business may be an expert in the actual work – like installing fire or security systems – but doesn’t know how to build and run a successful business.
Who is most likely to run a successful Fire & Security company?
I was watching a video about which personality types are more likely to succeed than others. Donald Miller says obsessives are most likely to be successful. But there are two types:
When you daydream about starting your new Fire & Security business, do you think about how you will be the envy of your friends because of all the clients you will have and all the free time available to you?
Or do you obsess about how you would run the business and what type of customers would provide the best revenue streams?
The personality type most likely to succeed is the one who obsesses about running a business, not just starting one.
Things to do before you leave your guaranteed Fire & Security salary
1. Prepare some financial backup. Take the time to save some money that will give you a 6-month safety net to cover overheads. For you personally and for any business expenses.
2. Don’t burn your bridges. Give the correct amount of notice to your employer and DON’T TRY TO STEAL THEIR CUSTOMERS!
3. Know how to make yourself stand out. If you are identical to your previous employer in every way except price, you are entering into a race to the bottom. Think about the work that you do best and specialise. This might be with a type of installation or a specific industry. Centre your marketing on what makes you a specialist, not one of the pack.
4. Get accredited. Accreditation with recognised bodies like NSI and SSAIB is even more important when you are a small startup. It shows that you are keeping to the highest standards, right from the outset.
5. Go networking. There are lots of free local networking groups where you can hand out your business cards and start getting your name known with other business owners. And, of course, they are all homeowners too.
6. Invest in a guaranteed source of new leads. *Puts hand up* Lollipop have been generating quality leads for Fire & Security companies since 2010.
We can help with your new website. But a website takes time to get established with Google. And it takes time for your name to become known in your community. Whilst you’re waiting, we can send you leads from your local area.