Author Topic: Taking mustachian way a bit earlier, adjusting life in short notice  (Read 5125 times)

Appletree

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Hi for everyone!

I just build workroom at home and I can see apple tree from my windows. It has bee rough month and something clicked in my head 20 minutes ago. Long story short:

I'm 31 year's old property managing company owner. Working like a mad dog while trying to build company out of scratch. Last two months it has been hard because over load and small under paying customers. I managed to get couple quite big houses to manage too. Long days with too much has got me wrong tracks. Today I had quite regular day: Woke up 3.50am and started working 3.55. Now it's 11 pm and finished for today.

I had earlier meeting in my office and there came angry customer shouting me for several things (partly my fault but nothing impossible to fix with small effort). This was in the middle of the meeting. I had to suck my opinion and be polite. But this was the moment when I took my first mustachian steps in my mind.

Now I'm tired but I have made list of bad customers that brings only work and virtually no monay. Today's crazy lady already  got my note breaking the agreement and firing myself (if that's even possible :) and tomorrow around 10 more clients get's same note. I'll lose 70% of work but only 30% of income. Those numbers where be big surprise. Now I'll cut costs there is practically no impact on my money flow. Rock on. This might work.

Now it's time to go to sleep and rest. Tomorrow it's firs't day of my life when I'm more or less free. Without reading the blog and forum this would not happen. Thank You and more is coming...

MsSindy

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #1 on: July 18, 2013, 08:30:09 PM »
Congratulations, you just discovered the 80/20 rule (Pareto Principle)!  80% of your sales/income comes from 20% of your clients/customers!

aaronpct

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #2 on: July 19, 2013, 06:57:51 AM »
That's a great way to think about it, congrats on getting the monkeys off your back!

oldtoyota

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #3 on: July 19, 2013, 07:09:57 AM »
Good luck to you!

Tim Ferriss talks about that same idea in The 4-Hour Work Week. He said he fired two clients that were taking up 80% of his time. One client changed his ways and became more polite, so TF continued to work with him. The other client left. The situation was a lot better for TF's profits and peace of mind.


Appletree

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #4 on: July 19, 2013, 12:07:42 PM »
It has been new day and I have to admit I feel relieved. Day started with a call from the town house I cut out. It started: " What the hell did the two board members do?". I explained everything and he was so sorry what happened. This was too late I'm on my way now.

It looks like some of my old clients would like to make new deal :) Not so bad. I have less work with better payment. With same trouple I raised my hour fee to 65-85$ depending on a job plus taxes.

Weekend will be time to make better plan. Now I have home office so I can stay some days here. I drive in a month around 630 miles in side city. I have to at least half that. Too much time wasted. This week I have been practicing hypermiling. Result is 33 to 43MPG.

Well there is loads of work to do. I'll keep posting things here and sorry for crappy English. I live in Finland and this is not my native language. Not even second :D

lizzigee

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #5 on: July 19, 2013, 02:44:34 PM »
"sorry for crappy English" 
Seems like you have a pretty good grasp of the basics haha. On a slightly more serious note, well done for placing a value on yourself and your time. As Dr Phil (American TV show host) apparently said "We teach people how to treat us". In other words, if we let them get away with bad behavior, then why would they change - they will continue to treat us in that manner. So I hope your new attitude towards your clients and the value of your time continues to bring positive results.
(And no - I don't watch Dr Phil, or hardly any tv at all, what a timewaster.)

Appletree

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #6 on: July 21, 2013, 11:07:33 AM »
I has been busy weekend and I haven't had time to post my stats about income and expenses. Maybe next week. Here are some thought and ideas to tune.

1. I'll sell my car. It's VW golf from 2005. After that we still have one car to do some work driving.
2. I have done some planning with work related travelling. There is chance that I can cut it half. Only 360 miles a month. There we nice chat about ebikes on another forum. I could convert my old bicycle to be partly powered by electric motor :) Then I could do 40-60 mile shuttlings between houses by bicycle :D Best part is that my clients are paying 1.25$ per mile. Rainy days I'll stay in home office or use car.
3. My company is cutting one work day from week. I'll have Mondays free and coworker is having Fridays. That day is dedicated for resting and studying. She is getting new degree and I'm continuing engineering studies. Target is to get qualified for better paying jobs.

I would love to hear from more experienced MMMs how to run company smarter. All tips are welcomed.

meadow lark

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #7 on: July 21, 2013, 05:58:51 PM »
Good job with working smarter, and not just harder.  And don't worry about your English - you are easy to understand.  And I appreciate the hard work you (and all the non-native English speakers on this board) do - part of why this is such a great forum is the international nature of the contributors!

Appletree

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #8 on: July 21, 2013, 11:47:22 PM »
Thank you all for kind welcoming to this board. All support is needed and it feels a bit overwhelming when everything is changing. I feels heavy on my shoulders but there is hint of up coming freedom in my heart :)

I'm just starting new day in home office and later day I do some combined driving (work + groceries) to save time.

reginna

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #9 on: July 30, 2013, 04:31:57 PM »
Appletree,
 I am very much enjoying your story. Please keep us updated.
 Most of all, WELCOME!

Appletree

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #10 on: August 26, 2013, 10:36:42 PM »
Greetings from Finland!

I have been busy with my wife and life is going slowly (actually it goes warp speed from Star Trek). Soon it's day when I give some of my clients papers away and get new ones in. So far I have cut 4 clients completely and renegotiated several agreements.

I have noticed that being busy and not having enough time is very expensive. So far it has cost me couple thousands euros in late fees and missed opportunities. Now I feel I'm having right track.

How is my personal life.

I still spend too much time working. But there is plan to reduce it and I now I'm working only 4 days a week.

From home I cut interned and we started to use 3g mobile internet. When there is more time some how garbage productions reduced. I cut my properties garbage deal to 3rd part what it was. Credit card is paid. And next month I cut my VISA and get monthly fee free VISA. Same words for my bank account. There is free ones too.

Short summary for savings:

Internet            47/564
Gargabe            6/72
CC fees             2.6/31.2
CC balace fees   6.5/78
Bank ac. fees     5.3/63.6

Savings total a month 67.4 and for a year 808.8 USD. That is good quite good start and it did not affect life at all.


Appletree

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Re: Taking mustachian way a bit earlier, adjusting life in short notice
« Reply #11 on: September 09, 2013, 09:59:33 PM »
Today will be interesting day. I was fixing my house earlier with a friend. We found mold and serious building mistake. It took several week to make proper papers for seller. Everything has gone smoothly and today should be day when sellers should sign agreement of reduced house value. This will cut our mortgage from 13 years to 9 :)

I'm just thinking to invest money or pay mortgage. Life is getting together and I'm hoping to have more time in future to spend here.