What is the Hardest Part of Running an HVAC Company?
Starting their own HVAC company is a dream for many who are currently just employees. It’s an exciting thought to be the boss. But, running any company, never mind an HVAC company, comes with certain downsides. You’re smart to prepare yourself to face the toughest challenge of all: being on your own. And, if you’re already running an HVAC company by yourself, there are tools and services to help you handle this hardest challenge.
You’re On Your Own
Those who consider themselves to be a lone wolf, or who love taking on responsibility and challenge are often excited to start their HVAC company on their own. It is liberating! But, the feeling of being on your own turns out to also be the biggest challenge. No one person has all of the skills to run a successful HVAC company. When you make mistakes, they are yours and yours alone.
When you have staff, you’re still on your own in the way that matters, which is that you’re making all the decisions. Unfortunately, under the pressure of that kind of stress, many people run into serious challenges. How it affects you depends on the kind of person you are and how your strengths and weaknesses play out. Here are some common stories (and how to avoid them).
You can almost do everything for your business when it first starts. But, if you don’t start to get some of the work off your plate in the first few months or years, you end up working all of the time. Every moment of your life is punctuated by something you need to do for the business. This drains you and makes you really unproductive. The solution is to get help from staff, software and outsourcing services as soon as you can.
Run into problems at tax time? Most HVAC companies do because very few owners also have experience in accounting. Most new business owners wait way too long to have a conversation with an accountant. It is about more than just taxes. They can perform job costing for you, help you understand your cash flow, and get you software solutions to save time.
It’s easy to manage your first employee. At some point, depending on how you are with people, it becomes impossible to manage them all. You need human resources solutions, including software for accounting and tools for performance assessment, early on.
Especially when they first start out, some HVAC business owners think they need to speak with every customer and take every call. Unfortunately, people are really different, and you’ll quickly find that you don’t get along with everyone, especially when their calls are constantly interrupting your work and even your home life. If this is you, the solution is to get a virtual receptionist to take some of the pressure off. These are real people who specialize in their communication skills. Even if they just cover your off hours, they can make it much easier to run your business.
In addition, check these out on how much profit an HVAC business should make and Five Ways to Standardize Your HVAC Company’s Processes.