My wife and I started a business nd also went the S corp route and you are absolutely spot on that you don't start out making much money and the first rule is ALWAYS pay your bills and file your taxes on time, We built our business one client at a time and enjoyed the feeling of doing a good job.
Thank you for making this Curtis. I've been wrestling this for the last 3 years. I have a huge fear of failure. However my fear is getting smaller and my confidence is getting bigger. I'm blessed to have a brilliant wife who can be my brain while I be hands an feet. I'll know after this summer so keep me in your prayers for wisdom to follow the path the Lord wants for me and my family. Much respect from Fresno CA 💪 💪 💪
Hello Curtis. I'm old and retired. I truly enjoy your channel and appreciate your kindness! Congratulations to you for many reasons, mostly being a great human being! I never had a Veto tool bag, that is now on my wish list thanks to you.
I agree with you about working by yourself, one of the good things was teaching my sons the building business, hated fighting employees. Had several thefts that could have been employee related
I'm not in your field of business but the way you run your business is rock solid. I'v had my business for over 20 years and you business philosophy and path was nearly identical to mine. Regardless of what field people are in, treating your clients with respect, honesty and respond to them in a timely matter you will grow into a solid business. At first you have to put up with a lot of BS but once you have a solid base you can dump the slow pay, constant complainers and focus on your good clients. I have found that referrals make great clients. Thanks for sharing. Even though I'm not in HVAC, I enjoy learning more about it so I can do my own prevented maintenance and make simple repairs myself.
I am glad to hear that the worry of "not knowing enough" is common. I recently got licensed in my state and am considering starting my own company to build my dream, but that fear lingers, and it even bothers my confidence while troubleshooting at times. God has blessed me with a great family that keeps me up, and I guess that is just what I have to remember. Keep putting out this awesome content, my friend.
HVAC work is a multi-discipline task. You have to know: electrical, plumbing, brazing/welding, carpentry, some physics (thermodynamics), some engineering (sheet metal fabrication, duct design). For the "guy and a truck" small business, you also have to know customer service, people skills, dealing with parts houses and distributors, accounting, and scheduling. That's a LOT of balls, plates, and chain saws to juggle! I'm not in HVAC (my grandfather was) but I have huge respect for the guys and gals that help keep us cool, warm, dry, and our air filtered. Curtis, I was one of your early subs. Your video production has gotten so much better, and you are much more comfortable in front of the camera now. I'm glad that whatever you were going through a while back seems to have been resolved. Question though: Why did you change houses, after installing that great mini-split in the old place? I'm sure the new place being on the lake is nice, just curious...
Like this video a lot. I started an IT business back in 2010 and slowly built it up. Also had the wife working full time to make it easier for us. Finally started to build up enough business that I switched from sole proprietorship to S corp like you said and now I'm saving a ton on self-employment taxes. I've definitely considered hiring one person, as vacations aren't really a thing as a 1 man IT shop, but we still travel and luckily 90% of what I do is remote, so I just bring the laptop with me. Quesrion: Do you also pay yourself an owner draw to supplement the salary?
I get what you are saying. I worked for myself and it is challenging. You have to cover everything and by the end of the week I was a lot more tired than what I am now. I get paid regardless if the customer pays or not. I get personal and vacation pay, holidays, I get a van to and from work. I may make just a little less but no headaches or worries.
Really nice video!!! I’m a one man and a helper business and hopefully my son will be joining me in May when he graduates from high school!!! Keep it up
I can tell you have your routine down. Looks like you're doing well and doing it right. I thought you had some other techs working for you, doing installs and whatever. Anyhow, keep up the good work!
Great video Curtis, Going on my 3rd year since I started my Business. Although I haven’t made that much $ the first couple years , I love the flexibility of being your own boss. The two things that I’ve struggled with is pricing and getting the phone to ring during slow season.
Hi Curtis great vid , I am getting ready to retire and make my own company, only by name ,it will also be a one man outfit, hope you keep giving these types of vid’s they are helpful. From Dothan Al
Great video brother. I’m going to try the google calendar thing. I already use google sheets for my customer database so hopefully this will integrate. I would love to have customer history. That’s the only thing I’m really lacking.
Best advice i got here over a decade ago in Victoria Australia when i started out on my own. Pay yourself enough to survive. Lower income tax bracket. The company will pay dividends in the long term and here, a PTY LTD has a static tax rate no matter how much the company rakes in. Being a Sole trader in this country is a joke.
I have a question. If you're paying yourself 30,000 a year, that's like 15 an hour. What's the incentive to run your own business? I know you work more than 40 hours a week. Been a long time subscriber. Freedom from having a boss? I also remember you saying you charge about 90 an hour. What happens to the extra money you're making? Putting it in stock or back in the business? Clearly you like being a one man operation. The benefits must be more than a 30,000 a year salary. If I'm being too nosey than tell me to shut the hell up. Lol. Just curious why you wouldn't work for a company making 30 an hour plus benefits? Love your videos.
Left the company I worked at for almost 20 years back in September to start my own business. Everything was going great until almost 2 weeks ago when I fell down my basement stairs and broke my leg in 3 places. After surgery and a bunch of hardware put in my leg the doctor said I’ll be out for 3 months. Anyone that owns their own business knows how detrimental this will be.
I’m sorry to hear that. I know it’s tough to be a one man operation. I’m 60 and everything hurts more these days. I wish I had an answer for you. If you had a good friend who was also in the business you might be able to ask them to help out. I hope things work out for you.
Anyone that has ever Owned a Business will be First to tell you that you will Never Work Harder. Glamorous it’s Not and you have to have a Head on your Shoulders.👍
Yes, you’re correct. That’s why we don’t have to worry about robots taking our job. Robots don’t like dirt or water getting in their motors, bearings and circuit boards.
Curtis is the best ! Generously giving the info !!
My wife and I started a business nd also went the S corp route and you are absolutely spot on that you don't start out making much money and the first rule is ALWAYS pay your bills and file your taxes on time, We built our business one client at a time and enjoyed the feeling of doing a good job.
Thank you for making this Curtis. I've been wrestling this for the last 3 years. I have a huge fear of failure. However my fear is getting smaller and my confidence is getting bigger. I'm blessed to have a brilliant wife who can be my brain while I be hands an feet. I'll know after this summer so keep me in your prayers for wisdom to follow the path the Lord wants for me and my family.
Much respect from Fresno CA 💪 💪 💪
Fear of failure is a great positive driver.
Me too bro! Same idea in the same city!
Hello Curtis. I'm old and retired. I truly enjoy your channel and appreciate your kindness! Congratulations to you for many reasons, mostly being a great human being! I never had a Veto tool bag, that is now on my wish list thanks to you.
I agree with you about working by yourself, one of the good things was teaching my sons the building business, hated fighting employees. Had several thefts that could have been employee related
I'm not in your field of business but the way you run your business is rock solid. I'v had my business for over 20 years and you business philosophy and path was nearly identical to mine. Regardless of what field people are in, treating your clients with respect, honesty and respond to them in a timely matter you will grow into a solid business. At first you have to put up with a lot of BS but once you have a solid base you can dump the slow pay, constant complainers and focus on your good clients. I have found that referrals make great clients. Thanks for sharing. Even though I'm not in HVAC, I enjoy learning more about it so I can do my own prevented maintenance and make simple repairs myself.
I am glad to hear that the worry of "not knowing enough" is common. I recently got licensed in my state and am considering starting my own company to build my dream, but that fear lingers, and it even bothers my confidence while troubleshooting at times. God has blessed me with a great family that keeps me up, and I guess that is just what I have to remember. Keep putting out this awesome content, my friend.
Can you talk about some tax deductions for an hvac business, story how you got your first service van or just working out of your car like me. Thanks
Thank you Curtis, your working experience was interesting to hear, and i'm sure will help others starting up on their own 👍 Au
HVAC work is a multi-discipline task. You have to know: electrical, plumbing, brazing/welding, carpentry, some physics (thermodynamics), some engineering (sheet metal fabrication, duct design). For the "guy and a truck" small business, you also have to know customer service, people skills, dealing with parts houses and distributors, accounting, and scheduling. That's a LOT of balls, plates, and chain saws to juggle! I'm not in HVAC (my grandfather was) but I have huge respect for the guys and gals that help keep us cool, warm, dry, and our air filtered. Curtis, I was one of your early subs. Your video production has gotten so much better, and you are much more comfortable in front of the camera now. I'm glad that whatever you were going through a while back seems to have been resolved. Question though: Why did you change houses, after installing that great mini-split in the old place? I'm sure the new place being on the lake is nice, just curious...
I live in Georgia too! I started mine 2 years ago. It’s hard work!! I’m not big at all.. just me & my brother!
You’re doing great! Like your videos!!
Like this video a lot. I started an IT business back in 2010 and slowly built it up. Also had the wife working full time to make it easier for us. Finally started to build up enough business that I switched from sole proprietorship to S corp like you said and now I'm saving a ton on self-employment taxes. I've definitely considered hiring one person, as vacations aren't really a thing as a 1 man IT shop, but we still travel and luckily 90% of what I do is remote, so I just bring the laptop with me. Quesrion: Do you also pay yourself an owner draw to supplement the salary?
Thank You for your insights
I get what you are saying. I worked for myself and it is challenging. You have to cover everything and by the end of the week I was a lot more tired than what I am now. I get paid regardless if the customer pays or not. I get personal and vacation pay, holidays, I get a van to and from work. I may make just a little less but no headaches or worries.
Love the vids 👍 I started my own last year
Really nice video!!!
I’m a one man and a helper business and hopefully my son will be joining me in May when he graduates from high school!!!
Keep it up
Very good information
Good luck....
Thanks
Great video!! I have been toying with the idea of starting my own small business. My goal is to keep it simple.
Keep it small
Thank you for your time and genuinism
Compadre !!! Love this video. Saludos desde Chicago
Saludos
I can tell you have your routine down. Looks like you're doing well and doing it right. I thought you had some other techs working for you, doing installs and whatever. Anyhow, keep up the good work!
One man operation is the best way to go,many things play a factor!!
Maybe at first, but you’re severely limiting your income potential if you’re not willing to bring other people on board
No Nonsense and straight to the point. Nice informal video
Awesome thanks for this Curt
You bet!
Some great information!!
Glad it was helpful!
Great video Curtis, Going on my 3rd year since I started my Business. Although I haven’t made that much $ the first couple years , I love the flexibility of being your own boss. The two things that I’ve struggled with is pricing and getting the phone to ring during slow season.
thank you im just starting my hvac business I still dont have my first customer but this helps alot
Hi Curtis great vid , I am getting ready to retire and make my own company, only by name ,it will also be a one man outfit, hope you keep giving these types of vid’s they are helpful. From Dothan Al
Thank you. 👍
Good advice Curtis.
Great video Man
Appreciate it!
Awesome 👍👍
What Insurance company do you use for General Liability and Workers Compensation? Also how do you setup a ghost policy?
A good agent is a broker for multiple companies. And they can set that policy up for you
Hi Curtis how do you manage install by yourself?
Do you replace a full system by yourself or doing a new construction job ?
Rarely. I get a subber to help
@@HVACGUY Thank you for your response.
I appreciate all your videos and helpful information from Houston, TX
since your working alone i guess you are not doing any new unit installs and if so how are you managing to do it o ur own .
Great video brother. I’m going to try the google calendar thing. I already use google sheets for my customer database so hopefully this will integrate. I would love to have customer history. That’s the only thing I’m really lacking.
The QuickBooks does that for you
@@HVACGUY oh wow. Okay
Best advice i got here over a decade ago in Victoria Australia when i started out on my own. Pay yourself enough to survive. Lower income tax bracket. The company will pay dividends in the long term and here, a PTY LTD has a static tax rate no matter how much the company rakes in. Being a Sole trader in this country is a joke.
I have a question. If you're paying yourself 30,000 a year, that's like 15 an hour. What's the incentive to run your own business? I know you work more than 40 hours a week. Been a long time subscriber. Freedom from having a boss? I also remember you saying you charge about 90 an hour. What happens to the extra money you're making? Putting it in stock or back in the business? Clearly you like being a one man operation. The benefits must be more than a 30,000 a year salary. If I'm being too nosey than tell me to shut the hell up. Lol. Just curious why you wouldn't work for a company making 30 an hour plus benefits? Love your videos.
Profit is taxable income. Some goes into the company but at this point a lot of it goes into my pocket
@HVACGUY an unreasonably low salary can be considered tax evasion. But maybe 30k in Georgia is a reasonable hvac salary, I do not know
Left the company I worked at for almost 20 years back in September to start my own business. Everything was going great until almost 2 weeks ago when I fell down my basement stairs and broke my leg in 3 places. After surgery and a bunch of hardware put in my leg the doctor said I’ll be out for 3 months. Anyone that owns their own business knows how detrimental this will be.
I’m sorry to hear that. I know it’s tough to be a one man operation. I’m 60 and everything hurts more these days. I wish I had an answer for you. If you had a good friend who was also in the business you might be able to ask them to help out. I hope things work out for you.
Who do you have your ghost workers comp policy with?
Anyone that has ever Owned a Business will be First to tell you that you will Never Work Harder. Glamorous it’s Not and you have to have a Head on your Shoulders.👍
absolutely! get your hands dirty!
What no one’s asked you was what was your initial investment in the business tools start up costs etc…. total?
One word of advice. Do not trust people, especially those you’ve never worked for or your competition. They are not your friends.
I’ve had my own business for 21 years I have 38 years experience.
I dont like the HVAC business. I like knowing how, its not for me. Some of the worst working conditions!
Yes, you’re correct. That’s why we don’t have to worry about robots taking our job. Robots don’t like dirt or water getting in their motors, bearings and circuit boards.
WHATS YOUR EMAIL INFO???