my hands on: from how to build cabinets, to how to manufacture correctly,
to flows and processes. I wish I would
have delved into our industry and
learned what has historically worked
for people and what hasn’t.
I was the owner that jumped in with
both feet and did trial by fire on everything. Looking back that was pretty
stupid because there are so many resources out there that can help you get
through those initial learning curves.
7. How hard it would be to make
Before starting my cabinet shop, I wish
I would have known that it is actually
incredibly hard to make money in
There are so many things in a new
business that you have to watch just to
be able to turn a profit at the end of
the year. It might show on paper you
are making money, but at the end of
the day you are always having cash flow
problems, barely making your payroll
requirements, barely making bills, and
growing at this breakneck speed. That
was probably the single most difficult
thing I can remember going through.
8. The true cost of owning a
I wish I would have known the true
cost of owning a business before I
started my shop.
The cost of owning a vehicle, for ex-
ample, is not just the price tag in the
window. It also includes the insurance
and maintenance and all the other
associated costs that you don’t neces-
sarily run the numbers on when you
purchase the vehicle.
A business is no different.
When you start your business there
is no handbook. You don’t truly know
what it’s going to cost. To keep a busi-
ness going you have these perpetual
costs of insurance (general liability, ve-
hicle, health), labor and taxes, workers’
comp, etc. It seems like at every turn
someone else is dipping their hand in
the pot. But when you first start a busi-
ness you’re blind to all these associated
costs simply because you’ve never been
through this before.
I would encourage everyone who is
starting a shop or business to talk to
their insurance people to get a really
If you don’t know where you are going in your business, you probably aren’t going to get
Before starting my cabinet shop, I wish I would have known that it is actually incredibly hard
to make money in business.