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Master Electrician gives a Tip on how to start a Contractor Business💪 With the 33% Rule. Thoughts?

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Video by Hendy The Sparky

Hendy The Sparky

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This video offers practical advice from an experienced dad to his son on the essential components of establishing and operating a successful contracting business. It highlights the '33% rule' for balancing technical skills, client relations, and financial management, providing specific recommendations for handling payroll and accounting.

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Hey dad, how do you deal with being a new contractor? I think this is so stressful. >> You know, there's a proverb. 33% is working, 33% is socializing, and 33% is the business side of any business. So really, your skills that you've developed, that you focused on is only 33% of the business. Yeah. >> The other 66% is what you have to work on. But most of us can't do that. So I recommend you reach out to a payroll company. And as far as accounting, I recommend this. I recommend that you become your own bookmaker, okay? >> And maintain all of your receipts. In the beginning, we all have to learn that 33% is your skills. 33% is your ability to find customers and just entertain people and just let everybody know who you are. And 33% is the business and financial side. >> Oh wow. >> That's >> that's great advice. >> You can get a handle on all three. Welcome to Prosperity. >> Nice. Thanks, Dad. Yep.

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